Accounting Practices among Micro, Small and Medium-Sized Enterprises (MSMEs) in Bandung, Indonesia

Lingga, Ita Salsalina (2013) Accounting Practices among Micro, Small and Medium-Sized Enterprises (MSMEs) in Bandung, Indonesia. In: The 2nd IBSM, International Conference on Business and Mangement, 2-4 Oktober 2013, Bangkok.

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Abstract

Micro, small and medium-sized enterprises (MSMEs) are a key source of employment and economic growth especially in developing countries. MSMEs in Indonesia are growing fast. They have made significant contributions in generating more than 99.99% of the total number of enterprises, 97.24% of employment, 57.94% of Gross Domestic Product (GDP) and16.44% of total national non-oil and gas export in 2011. MSMEs become the main contributors to economic development in Indonesia over the years. Eventhough MSMEs play a vital role in economic development, majority of them do not keep complete accounting records to prepare financial statements with some not preparing any financial statements at all because of lack of accounting skill and knowledge and weak of law enforcement. This research aims to examine the purpose of preparing accounting information, the importance of financial accounting information for decision making, the types of accounting records being kept and maintained by MSMEs, the availability of accounting skill and knowledge to provide accounting information and the main obstacle faced by MSMEs in order to provide proper accounting information. The survey research design was used and postal questionnaires were distributed to selected MSMEs in order to collect primary data. With relevant collected data, analysis was then conducted and conclusions drawn.

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