Reliable financial reporting has become increasingly important as transportation companies face rising operational costs and greater demands for accountability. Public transportation businesses process daily transactions involving passenger services, fuel expenses, vehicle maintenance, employee salaries, and asset depreciation. Without a structured accounting system, managers may struggle to assess financial performance accurately and make informed strategic decisions.
According to the researchers, PT Suka Mulia still relies on a simple cash-based bookkeeping system rather than the accrual-based accounting approach recommended under PSAK No. 1. Revenue is recorded from daily cash deposits made by drivers without being classified by service type or accounting period. Meanwhile, major operating expenses—including fuel, vehicle maintenance, drivers' salaries, and depreciation—are not systematically recognized or reported. As a result, the company's financial information lacks relevance, reliability, and comparability across reporting periods.
Why This Study Matters
Indonesia's Financial Accounting Standards require companies to prepare financial statements that provide stakeholders with accurate and comparable financial information. Such reports are essential for evaluating business performance, controlling operational costs, attracting investors, obtaining financing, and complying with financial regulations.
However, many small and medium-sized enterprises (SMEs), particularly in traditional transportation services, continue to view accounting as merely an administrative task rather than a strategic management tool. The study suggests that this perception contributes to weak financial reporting practices and limits business growth.
Research Approach
The research employed a qualitative descriptive method to evaluate accounting practices at PT Suka Mulia.
The authors collected data through:
- Direct field observations;
- Interviews with company directors, administrative staff, and drivers; and
- Documentation of financial records and operational transactions.
To improve the credibility of the findings, the researchers applied triangulation, comparing evidence from multiple data sources and collection methods before drawing conclusions.
Key Findings
The study identified several important issues affecting the company's financial reporting:
- Revenue is recorded only from drivers' daily cash deposits without classification by accounting period or service category.
- The company does not maintain routine and continuous bookkeeping.
- Operating expenses are documented mainly through receipts and invoices rather than systematic accounting records.
- Periodic income statements are not prepared, making financial performance difficult to evaluate.
- The accrual accounting principle has not been implemented, reducing the usefulness of financial information.
- Financial reports therefore do not fully comply with PSAK No. 1 requirements.
Researchers also found that the company prioritizes daily transportation operations over formal accounting procedures. Drivers are required to submit daily deposits to the company, while fuel expenses are paid personally by the drivers. This operational model further complicates accurate revenue and expense recognition because many transactions are not formally recorded in the accounting system.
Implications for the Transportation Industry
The findings have broader implications beyond PT Suka Mulia. Many regional transportation companies and SMEs across Indonesia continue to rely on manual bookkeeping, making it difficult to monitor profitability, manage operating costs, and prepare reliable financial statements.
The researchers argue that adopting proper accounting standards would provide several benefits:
- More accurate measurement of company profitability;
- Better cost control and budgeting;
- Stronger managerial decision-making;
- Increased credibility with banks and investors;
- Greater transparency and business sustainability.
Improved accounting practices could also support digital transformation efforts within Indonesia's transportation sector by enabling businesses to integrate modern accounting software and standardized reporting systems.
Recommendations
Based on the findings, the researchers recommend several practical improvements:
- Implement routine bookkeeping for all revenue and expense transactions.
- Prepare complete periodic financial statements in accordance with PSAK No. 1.
- Classify revenue and operating expenses by accounting period and transaction type.
- Record all operational costs, including vehicle repairs and maintenance, comprehensively.
- Provide accounting training and mentoring to improve understanding of PSAK implementation.
- Gradually transition from a cash-based recording system to an accrual-based accounting system to produce more reliable financial information.
The authors conclude that adopting structured financial reporting practices will improve the quality of accounting information and strengthen managerial decision-making, ultimately helping transportation companies remain competitive in an increasingly demanding business environment.
Author Profile
Beril Syahputra Ginting Suka is a researcher from the Accounting Program at Universitas Quality Berastagi, specializing in financial accounting, financial statement presentation, and the implementation of Indonesian Financial Accounting Standards (PSAK). This research was conducted in collaboration with Milawati Br Ginting and Nenni Lestari Br Surbakti, who are also affiliated with Universitas Quality Berastagi.
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