Training on Preparation of Financial Statements Based on Standard

TRAINING ON THE PREPARATION OF FINANCIAL STATEMENTS BASED ON FINANCIAL ACCOUNTING STANDARDS FOR STUDENTS OF SMK 2 SANTANA CIBATU GARUT DISTRICT WEST JAVA

Muhammad Muslih^1*, Kurnia², Annisa Nurbaiti³, Achtar Rayhan Arief, andKhofifah Salmah

Indonesia is one of the countries with the largest number of human resources in the world. In 2022, there are around 65.82 million people or almost a quarter (24%) of Indonesia’s population in the age group between 16-30 years old or referred to as youth, meaning that Indonesia’s population is dominated by the younger generation who are expected to be the energy of development that can make Indonesia transform into a developed and prosperous country. The problem of the younger generation today is the lack of a foundation of knowledge and understanding of finance, especially accounting as a universal language of financial performance assessment. Some ways to improve the quality of human resources of the younger generation is through increasing financial literacy, knowledge, and understanding of financial statements.
Educational institutions have a role and purpose to increase knowledge and understanding of all activities that result in the financial condition of an institution or individual. This community service activity was carried out in collaboration between the Faculty of Economics and Business – Telkom University and SMK 2 Santana Cibatu. The goal is to improve the knowledge and understanding of financial literacy of students of SMK 2 Santana Cibatu, especially about the preparation of financial statements based on financial accounting standards. In addition, the implementation of community service this time is also to support the implementation of Tri Dharma outside the campus.
This community service was organized by lecturers of the Faculty of Economics Business – Telkom University, namely Muhamad Muslih, SE, MM, Kurnia, S.AB, MM, Annisa Nurbaiti, SE, M.Si, Achtar Rayhan Arief, and Khofifah Salmah on Friday, September 22, 2023. Overall, this series of Community Service activities began at 09.00 – 11.30. Before entering the core activity of introducing financial accounting material, this activity begins with a pre-test of working on 5 questions to measure how far the knowledge of students / SMK 2 Santana Cibatu regarding financial literacy and ends with a post-test to see whether the material that has been explained can be understood properly or not. The first material presentation was about the preparation of financial statements based on financial accounting standards delivered by one of the speakers who is also a lecturer who has competence in the field of financial accounting. The material begins with a basic explanation of the meaning of a literal report, the purpose of the report, the quality of a report, and various SAKs along with their explanations and uses. The second material presentation is about the Training on Making MSME Financial Statements. This material discusses the role of accounting in the company, types of businesses, MSME Accounting Standards Laws and Regulations, Scope, Statement of Financial Position, Income Statement, CALK, Cash Flow Statement (Operations, Investments, and Funding), Business Feasibility Analysis, and Financial Reporting.
The additional material this time is about the basics of taxation, which discusses taxation in Indonesia. Such as discussions related to Sources of Revenue from Taxes, the Role of Taxes, Definition of Taxes, Functions, Taxes, Tax Laws, Tax Collection Systems, and Rates of Taxes themselves. This knowledge is very relevant and a provision for students at SMK 2 Santana Cibatu, Garut.