Business activities in pandemic of COVID-19 era, the source of accounting information and how do know how well our business is doing?

Nico Gilbert Nathaniel Siagian; Mamfalutin Mamfalutin; Iskandar Muda

doi:10.53730/ijhs.v6nS1.5194

Authors

Nico Gilbert Nathaniel Siagian Universitas Sumatera Utara, Medan, Indonesia
Mamfalutin Universitas Sumatera Utara, Medan, Indonesia
Iskandar Muda Universitas Sumatera Utara, Medan, Indonesia

Keywords:

family businesses, accounting records, financial condition

Abstract

The purpose of this research is to analyze the completeness of accounting records kept by SMEs as a source of information for economic decision making Accounting plays an important role in the success or failure of a business institution. Type of this paper is qualitative methods. The result of this paper explained the accounting system is responsible for recording, analyzing, monitoring and evaluating the company's financial condition, preparation of documents required for tax purposes, providing information support for many other organizational functions. Accounting information is important because it can help companies manage their short-term problems in critical areas such as costing, spending, and cash flow, by providing information to support monitoring and control. Small companies are often founded from family businesses. For the most part, in family businesses, management is between family members. However, the workforce can come from non-family members. Therefore, the business environment differs according to the management style as well as the culture passed down from generation to generation Small and Medium Enterprises (MSMEs) It has been recognized that proper accounting information is essential for the successful management of any business entity, whether large or small, the types of accounting records kept and maintained by SMEs.

Downloads

Download data is not yet available.

References

Alfian, F, Purba, V,(2020). The Contingency Approaches to the Design of Accounting Systems. Turkish Online Journal of Qualitative Inquiry. 11(4). 949-956. https://tojqi.net/index.php/journal/article/view/8207

breu, J., Guimarães, T., Abelha, A., & Santos, M. F. (2022). Business Analytics Components for Public Health Institution-Clinical Decision Area. Procedia Computer Science, 198, 335-340.

Capocchi, A., Orlandini, P., Pierotti, M., & Amelio, S. (2022). The nature, roles, uses, and impacts of accounting systems in the Real Liceo of Lucca in the nineteenth century. Accounting History Review, 1-29.

Diallo, A. T. (2021). A Comparatıve Analysıs Between The Turkısh Fınancıal Reportıng Standard For Large and Medıum-Sızed Entıtıes and The Ohada Accountıng System (Master's thesis, Sakarya Üniversitesi).

Endris, E., & Kassegn, A. (2022). The role of micro, small and medium enterprises (MSMEs) to the sustainable development of sub-Saharan Africa and its challenges: a systematic review of evidence from Ethiopia. Journal of Innovation and Entrepreneurship, 11(1), 1-18.

Hall, J. A. (2015). Accounting information systems. Cengage Learning.

Hameed, A. J., Shareef, A. S., & Shaban, S. I. (2022). Effect of Fair Value Based on IFRS 13 on the Qualitative Characteristics of Accounting Information: An Exploratory Study in the Iraqi Environment. Journal of Cases on Information Technology (JCIT), 24(2), 1-12.

Hasibuan, D.R.F, Islamiati, H, (2020). The Behavioral Effects of Accounting Information. Turkish Online Journal of Qualitative Inquiry. 11(4). https://tojqi.net/index.php/journal/article/view/8202

Kuttner, M., Mayr, S., Mitter, C., & Duller, C. (2022). Impact of accounting on reorganization success: empirical evidence from bankrupt SMEs. Journal of Accounting & Organizational Change.

Kyriakopoulos, G. L., & Solovev, D. B. (2022). Circular Economy (CE) Innovation and Internationalization of Small and Medium Enterprises (SMEs): Geographical Overview and Sectorial Patterns. In Proceeding of the International Science and Technology Conference" FarEastСon 2021" (pp. 113-142). Springer, Singapore.

Maksum, A., Muda, I & Sina A.I.,A (2021). Factors Affecting The Success of Implementing Cashier (Point of Sales/Pos) Accounting Application (March 3, 2021). Available at SSRN: http://dx.doi.org/10.2139/ssrn.3796580.

Quitzau, M. B., Gustafsson, S., Hoffmann, B., & Krantz, V. (2022). Sustainability coordination within forerunning Nordic municipalities–Exploring structural challenges across departmental silos and hierarchies. Journal of Cleaner Production, 335, 130330.

Simanjuntak, A.M.B, Daulay, P, Muda, I (2020). Feltham Model: A Framework for Determining The Value of A Change In The Information Decision (The Decision Maker). Turkish Online Journal of Qualitative Inquiry. 11(4). 964-977. https://tojqi.net/index.php/journal/article/view/8209

Sooriyakumaran, L. (2022). A Study Between the Association of Financial Management Practices and Performance of Small and Medium Enterprises (SMEs) Background. Sooriyakumaran, L., Thrikawala, SS, Pathirawasam, C.(2022). A Study Between the Association of Financial Management Practices and Performance of Small and Medium Enterprises (SMEs) Background: A Working Paper. International Journal of Research and Innovation in Social Science (IJRISS), 6(1), 16.

Yulisfan, Y., & Nedelea, A. M. (2021). Implementation of Digitalization On The Revenue Cycle To Improve The Quality Of Decision Making More Timely In Indonesia. Ecoforum Journal, 10(3). http://www.ecoforumjournal.ro/index.php/eco/article/view/1217/762

Zamani, E. D., Griva, A., & Conboy, K. (2022). Using Business Analytics for SME Business Model Transformation under Pandemic Time Pressure. Information Systems Frontiers, 1-22.

Zuo, Z., & Lin, Z. (2022). Government R&D subsidies and firm innovation performance: The moderating role of accounting information quality. Journal of Innovation & Knowledge, 7(2), 100176.