Abstract:Small and Medium Enterprises (SMEs) play a significant role in supporting the economic development of countries, including Indonesia. In 2019, SMEs has reached 63,95 million units which took over 99,62% of all businesses…
in Indonesia. SMEs also have contributed 61.79% to Indonesia’s Gross Domestic Product in 2020, hence making them an important contributor to the country’s economic growth. However, SMEs hold some weaknesses compared to large and modern businesses which its limited financial condition and difficulties when applying for funding to the bank due to their lack of proper reporting financial statements in accordance with the accounting standards. In order to resolve this issue, the role of independent auditors holds essential part in making SMEs more bankable by auditing their financial statements. Therefore, the financial statement of SMEs will be more reliable so that the bank will approve SMEs credit application.
Abstract:IFRS SME establishes standards that serve as recommendations for preparing financial reports for small and medium-sized businesses. SME IFRS originates from all IFRS simplifications intended to simplify financial reporting…
ng and cost-benefit analysis for SME clients. The Financial Accounting Standards for Organizations Without Public Accountability (SAK ETAP), established on May 19, 2009, continues to oversee private businesses' financial accounts. However, SAK ETAP does not give advice to private firms on the explanation of gross revenue that is directly relevant to taxes determination. As a consequence, Indonesia has established a new SAK for private firms known as the SAK EP. The use of SAK EP in the preparation of financial statements for micro, small, and medium-sized enterprises (MSME) can simplify the use of international accounting standards, lowering the higher costs associated with full IFRS implementation and the emergence of numerous new accounts and changes in financial statement presentation. New accounts include accounts for current tax, deferred tax, employee benefit duties, and post-employment benefit liabilities, as well as revised accounts for accruing costs, equity, and comprehensive income (expenses).
Abstract:Increased productivity in SMEs in terms of quality service delivery is crucial for economic growth and development. Most SMEs are bedevilled with destructive workplace deviant behaviour, particularly the incivility of owners/managers…
ners/managers and employees towards customers, which have different consequences for workplace performance parameters such as a decline in sales, low patronage, and by extension, weak gross domestic product contribution. Using the social exchange theory, this cross-sectional study examined the influence of workplace incivility on productivity among 365 owners/managers, supervisors, and employees of SMEs in the liquefied petroleum gas sub-sector in Lagos State. Stratified proportionate sampling was utilized to select the respondents. The outcomes revealed that workplace incivility in the form of rudeness, discourteous disposition, and derogatory remarks predicted productivity in terms of an interaction between customers and employees and the capacity of the service process. Also, our findings accentuated the essence of avoiding direct and indirect costs that are linked with workplace incivility. The study recommended the communal and positive interpersonal relationships between owners/managers, employees, and customers and suggested training on emotional intelligence as a panacea for behavioral responses.