Analysis of ISAK 35 Implementation in Ruang Belajar Aqil Non-Profit Organizations Engaged in The Third Sector

Abstract

In managing the finances of non-profit organizations, it is important to have clear guidelines in financial reporting. This study examines the financial statements of a non-profit organization using ISAK No. 35. The purpose of this study is to determine how the implementation of financial statements based on ISAK No. 35 at the non-profit organization Ruang Belajar Aqil. According to ISAK 35, the financial statements of non-profit organizations include five components including statements of financial position, comprehensive income, changes in net assets, cash flows, and notes to the financial statements. The results showed that Ruang Belajar Aqil has only implemented ISAK No.35 since 2022. The application of ISAK 35 in this non-profit organization is still not fully in accordance with the provisions of the standard. Some of the main financial statements have been prepared properly, but there are still deficiencies in the presentation of the statements of changes in net assets, cash flows, and details of comprehensive income. The organization should improve the preparation of financial statements by complying with the provisions of ISAK 35 thoroughly to increase transparency and accountability.