PAPER

RECORDING OF FINANCIAL TRANSACTIONS FOR COOPERATIVE

Lecturer : Dr. Eliada Herwiyanti, SE, M.Si, Ak., CA

Courses : MSMEs

By:

1. Sekar Arum Nirmalasari (C1I019013)

2. Reza Devidhianto Susilo (C1I019014)

3. Muhamad Fikri Auryn (C1I019015)

4. Satrioseno Sancoko (C1I019016)

5. Novia Azzahra Fahmi (C1I019017)

6. Lulu Sonia Afrita Pasa (C1I019018)

INTERNATIONAL ACCOUNTING COURSES

FACULTY OF ECONOMICS AND BUSINESS
JENDERAL SOEDIRMAN UNIVERSITY 2021
FOREWORD

Praise be to the presence of God Almighty who has given His grace and guidance so
that we can complete this paper entitled "RECORDING OF FINANCIAL
TRANSACTIONS FOR COOPERATIVE" on time.

The purpose of writing this paper is to fulfill the tasks that have been mandated by Dr.
Eliada Herwiyanti, SE, M.Si, Ak., CA in the field of UMKM studies. In addition, this
paper also aims to add insight into the accounting aspects of MSMEs both for readers
and for writers.

We would like to thank Dr. Eliada Herwiyanti, SE, M.Si, Ak., CA as the UMKM
lecturer who has given this assignment so that he can add knowledge and insight
according to the field of study we are working on.

We also thank all those who have shared their knowledge so that this paper can be
completed.
We are aware that the writing we write is far from perfect. Therefore, we will wait for
constructive criticism and suggestions for the perfection of this paper.

Purwokerto, 29 March 2021

Group 4

I
 TABLE OF CONTENTS

FOREWORD.......................................................................................I

TABLE OF CONTENTS...................................................................II

CHAPTER I INTRODUCTION.........................................................1

A.Background.............................................................................................1
B. Problem Formulation..............................................................................2
C. Purpose of Writing..................................................................................2
D.Benefits of Writing.................................................................................2

CHAPTER II DISCUSSION...............................................................3

A.Function of recording financial transaction in cooperative....................3

B. Process of financial transaction report preparation in cooperative.........3
C. Presentment of financial transaction report in cooperative....................5
D.Differences between cooperative financial transaction report and non-
cooperative financial transaction report..................................................7

CHAPTER III CLOSING...................................................................8

A.Conclusion..............................................................................................8
B. Suggestion..............................................................................................9

BIBLIOGRAPHY.............................................................................10

II
 CHAPTER I (INTRODUCTION)

A. Background
The definition of a cooperative in general, namely, a cooperative is a
business entity that is a legal entity and is based on the principles of kinship
and also the principles of economic democracy and consists of several
members in it. Cooperatives are one of the activities of economic organizations
that work in the field of potential resource movement with the aim of making
members prosperous. Cooperative is an arrangement in the economy as a form
of joint venture based on the principle of kinship. The cooperative is not a
capital association but an association of people who will become members of
the cooperative. Cooperatives are a people's economic movement and based on
activities based on the principle of kinship, which means that every member of
the cooperative has the awareness to do his best in every cooperative activity
and do things that are considered useful for all members of the cooperative.

The development of cooperatives in Indonesia is quite significant. This

development is marked by the emergence and growth of many new
cooperatives in accordance with the economic needs of the surrounding
community. In Law No.25 of 1992, it is stated that cooperatives can be formed
as primary cooperatives or secondary cooperatives. Primary cooperatives are
cooperatives established by individual members, while secondary cooperatives
are cooperatives established by and consisting of 2 cooperative legal entities
and established by at least three primary cooperatives. Cooperatives as entities
without public accountability that are quite developed in Indonesia should
know and apply the right standards as a reference for making financial reports.
Financial Accounting Standards Board, Indonesian Institute of Accountants
(IAI) on April 8, 2011 issued a Statement of Financial Accounting Standard
Revocation 8 (PPSAK 8) on the revocation of Financial Accounting Standard
Statement 27 (PSAK 27) concerning Cooperative Accounting. Financial
accounting standards that refer to IFRS are grouped into 2 (two) groups,
namely the Entity Financial Accounting Standards without Public
Accountability (SAK ETAP) and General Financial Accounting Standards.
Given that so far cooperatives are included in entities without public

1
 accountability, they apply cooperative accounting with SAK ETAP which
regulates all the rules for cooperative business entities as well as basic concepts
and forms of financial statement presentation.

The cooperative report contains financial information concerning the

condition, performance and changes in the financial position of the cooperative
in one accounting period which is useful for making strategic decisions for
cooperative development and as a form of accountability of the management to
cooperative members. The management is obliged to report to the member
meeting everything related to the life of the cooperative. The financial aspect is
one of the aspects that exist in cooperatives. Financial reports are part of the
most important financial aspects that must be accountable to members of the
cooperative.
B. Problem Formulation
1. What is the function of recording financial transaction in cooperative?
2. How is the process of financial transaction report preparation in
cooperative?
3. How is the presentment of financial transaction report in cooperative?
4. What is differences between cooperative financial transaction report and
non-cooperative financial transaction report?
C. Purpose of Writing
1. Describe the function of recording financial transaction in cooperative.
2. Describe the process of financial transaction report preparation in
cooperative.
3. Describe the presentment of financial transaction report in cooperative.
4. Describe differences between cooperative financial transaction report and
non-cooperative financial transaction report.
D. Benefits of Writing
After this learning process, students are expected to understand the
recording financial transaction regarding :
1. Function of recording financial transaction in cooperative.
2. Process of financial transaction report preparation in cooperative.
3. Presentment of financial transaction report in cooperative.

2
 4. Differences between cooperative financial transaction report and non-
cooperative financial transaction report.

CHAPTER II (DISCUSSION)
A. Function of recording financial transaction in cooperative
From the transaction that always occur in cooperative operations, it can be
seen that a cooperative financial transaction report is needed. Here the
importance of cooperative financial transaction report:
1. Financial report contain detail and complete transaction record
2. With the complete recorded data, it will be easier for the management to
present accurate financial reports.
3. SHU calculations can be done precisely.
4. Make it easier for cooperative administrators to manage savings and loans
for their members.
B. Process of financial transaction report preparation in cooperative
The cooperative accounting process is the same as the non-cooperative
accounting process, which is a step or stage that must be taken in preparing a
cooperative financial report. This stage starts with proof of the transaction in
the form of notes, receipts, sales invoices, purchase invoices and so on, which
are then entered in the journal.
The way to fill in the journal is to enter transactions and their transaction value
from the transaction evidence by debiting or crediting certain estimates. The
normal conditions that apply to debiting or crediting an estimate are:

+ - Normal Balance
Asset Debit Credit Debit
Acc Payable Credit Debit Credit
Wealth Credit Debit Credit
Income Credit Credit
Expense Debit Debit

After the financial year ends, the cooperative management is obliged to

prepare an annual financial report containing at least:
1. Annual calculation consisting of a balance sheet, calculation of business
results and explanation of the document.

3
 2. The condition and business of the cooperative and the results of the
business that can be achieved.
The balance sheet, the calculation of business results and the explanation
are the main financial statements of the cooperative. The process of preparing
a cooperative financial report starts from the accounting process in the form
of:
1. Recording.
2. Classification.
3. Summarization.
4. Reporting.
5. Analysis of financial data.

The books supporting documents (source of documents) used include:

1) Proof of Cash Receipts

2) Proof of Cash Disbursement

3) Proof of Sales Invoice

4) Purchase Invoice

5) General Evidence

While the special books (special journals) used are:

1.Cash Receipt Diary

2.Cash Disbursement Diary

3.Sales Diary

4.General Diary

Subsidiary ledgers used are:

1.Cashier Book

2.Member Deposit Card

4
3.Card Supplies

4.Member Accounts Receivable Cards

5.Non-Member Accounts Receivable Card

6.Payable Cards

7.Inventory Card

8.Fee Card

9.Member Purchase Card

10. Custodian Card

C. Presentment of financial transaction report in cooperative.

The financial statements of a cooperative are prepared to reflect the
financial position at a specific date, the results of operations, and the cash flow
of the cooperative during a certain period. The financial statements of each
accounting entity in a cooperative business entity must be prepared using the
same accounting policies, systems and procedures.
The financial report consists of the Report on the Calculation of Business
Results, Balance Sheet, Cash Flow Report, Member Economic Promotion
Report and Notes on the Results of Financial Statements.
1. Business Result Calculation Report
Is a cooperative financial report that presents the amount of
cooperative business income that comes from members and non-
members by comparing it with the total cost in a certain period. This
financial report is the same as the profit / loss statement for a non-
cooperative company.
a. Income, is an amount of money or something equivalent that is
obtained by the cooperative from the results of business
operations or non-business.
b. Cost, is a number of funds issued by the cooperative to finance
its operational activities.
2. Balance sheet

5
 Is a financial report that describes the position of assets, debts, and
capital of the cooperative in a certain accounting period, generally one
year. There are three important components in a cooperative balance
sheet, among others, as follows:
a. Assets, are items containing the allocation of funds controlled
by the cooperative.
b. Accounts payable is an amount of funds controlled by the
cooperative originating from outside parties and must be
returned according to a predetermined schedule.
c. Equity / Net Asset, which is an amount of money or its
equivalent that actually belongs to the cooperative.
3. Cash flow statement
Is a report that presents cash flow information, namely changes in
cash which include the initial cash balance, sources of cash receipts,
cash disbursements, and cash ending balances for a certain period.
According to PSAK no. 2, companies including cooperatives must
present a cash flow statement as an integral part of their financial
statements. Cash flow statements must report cash flows during a
certain period and are classified according to cooperative, investing
and financing activities.
4. Member Economic Promotion Report
Is a report that shows the economic benefits obtained by
cooperative members during a certain year. SHU consists of remaining
member participation and cooperative profit. If the net participation of
the members is greater than the operating expenses and operating
expenses, then there is a residual member participation that is positive.
The remaining positive is distributed to members according to each
member's business services. However, if the residual participation of
the members is negative, it means that the number of participation of
the members is too small and insufficient to cover operating expenses
and operating expenses. The remaining minus participation is covered
by the reserve fund and or joint responsibility of the members. In this
case, it means that there is no economic benefit from the sharing of
SHU.

6
 5. Notes to Financial Statements
The notes to the financial statements provide disclosures which
include:
a. Accounting treatment regarding the recognition of income and
expenses in connection with cooperative transactions with
members and non-members, accounting policies regarding
fixed assets, valuation of inventories, accounts receivable, etc.,
the basis for pricing services to members and non-members.
b. Disclosure of other information such as the main activities or
services of cooperatives to members, both those listed in the
articles of association and by-laws and in practice, or that have
been achieved by cooperatives, cooperative ties in resource
development and promoting member economic enterprises,
cooperative education and training. etc.
D. Differences between cooperative financial transaction report and non-
cooperative financial transaction report.
In its business practice, cooperatives are not only looking for maximum
profit, but prioritizing service to members or prioritizing the welfare of their
members. Cooperative capital, among others, consists of principal savings,
mandatory savings, voluntary savings, and reserves. Thus it can be said that
the cooperative is financed and managed by the members themselves.
The financial statements of cooperative business entities according to PSAK
N0.27, consist of:
a) Balance sheet
b) Business Calculation Report
c) Member Economic Promotion Report
d) Cash Flow Statement, and
e) Notes to Financial Statements.
What distinguishes the financial statements of a cooperative business
entity the most from other business entities is, among others, it can be seen
from the existence of a member economic promotion report in a cooperative
while in other businesses, the financial report does not exist. In cooperatives,
recording transactions originating from members and recording transactions
originating from non-members must be separated. Thus the practice of

7
 accounting and presentation of financial statements organized by a cooperative
business entity will be different from the accounting practices of other
business entities.

CHAPTER III (CLOSING)

1. Conclusion

From the transaction that always occur in cooperative operations, it can be

seen that a cooperative financial transaction report is needed.the complete
recorded data, it will be easier for the management to present accurate financial
reports. calculations can be done precisely.it easier for cooperative
administrators to manage savings and loans for their members.

The cooperative accounting process is the same as the non-cooperative

accounting process, which is a step or stage that must be taken in preparing a
cooperative financial report. This stage starts with proof of the transaction in
the form of notes, receipts, sales invoices, purchase invoices and so on, which
are then entered in the journal.

The way to fill in the journal is to enter transactions and their transaction
value from the transaction evidence by debiting or crediting certain estimates.
Calculation consisting of a balance sheet, calculation of business results and
explanation of the document.Condition and business of the cooperative and the
results of the business that can be achieved.The balance sheet, the calculation
of business results and the explanation are the main financial statements of the
cooperative of financial data.

The books supporting documents General Evidence while the special

books notes to financial statements.What distinguishes the financial statements
of a cooperative business entity the most from other business entities is, among
others, it can be seen from the existence of a member economic promotion
report in a cooperative while in other businesses, the financial report does not
exist. In cooperatives, recording transactions originating from members and
recording transactions originating from non-members must be separated. Thus
the practice of accounting and presentation of financial statements organized

8
 by a cooperative business entity will be different from the accounting practices
of other business entities.

2. Suggestion

The author realizes that this paper has many shortcomings. In the future,
the author will explain the paper in more focus and detail with more and more
reliable sources. The writers really need constructive criticism and suggestions
from readers.

The purpose of making conclusions and suggestions in the paper is so that

readers can understand correctly the content or discussion of the paper.
therefore, use correct and easy to understand language.

9
Bibliografi
Herwiyanti, E. (2020). Implementasi Standar Akuntansi Keuangan di UMKM.
Ihwan Susila, I. d. (2006). PEMBUATAN LAPORAN KEUANGAN SEDERHANA
PADA LEMBAGA SEMI KOPERASI SBK JAYA SALATIGA. 1-3.
PUTRI, A. A. (2017). ANALISIS PENERAPAN STANDAR AKUNTANSI PADA
LAPORAN KEUANGAN KOPERASI DI KOTA PEKANBARU. 17-18.

10