Articles
Universitas Lancang Kuning Pekanbaru Embraces Isak 35: A Leap Towards Transparent Financial Reporting
Abstract
Non-profit financial reporting standards are intended to improve transparency, comparability, and accountability; however, systematic evidence on the extent to which Indonesian private universities substantively comply with ISAK 35 remains limited. This study evaluates Lancang Kuning University (UNILAK) financial reporting for 2023–2024 using a quantitative descriptive single-case design and a ten-indicator ISAK 35 compliance matrix, supported by audited financial statements and validation interviews. The analysis yields a total score of 47 out of 50, equivalent to 94.0% (mean 4.70/5), indicating very high compliance. Seven indicators achieved full compliance, including statement structure, net-asset classification, cash-flow presentation, accounting-policy disclosure, comparative presentation, and accrual-basis reporting, while activity reporting, donor-fund restriction disclosure, and performance reporting each scored 4 and remain priority areas for refinement. The study contributes an operational indicator-based framework for evaluating ISAK 35 implementation in higher education and demonstrates how formal standard adoption can be distinguished from remaining disclosure-quality gaps in a non-profit university context.
References
Alatawi, I., Ntim, C., Zras, A., & Elmagrhi, M. (2023). CSR, financial and non-financial performance in the tourism sector: A systematic literature review and future research agenda. International Review of Financial Analysis. https://doi.org/10.1016/j.irfa.2023.102734.
Altamuro, J. L. M., & Harris, E. E. (2023). Nonprofit accounting conservatism. Journal of Accounting and Public Policy, 42(5), 107132. https://doi.org/10.1016/j.jaccpubpol.2023.107132
Behn, B. K., DeVries, D. D., & Lin, J. (2010). The determinants of transparency in nonprofit organizations: An exploratory study. Advances in Accounting, Incorporating Advances in International Accounting, 26(1), 6–12. https://doi.org/10.1016/j.adiac.2010.02.001
Christiaens, J., Reyniers, B., & Rollé, C. (2010). Impact of IPSAS on reforming governmental financial information systems: A comparative study. International Review of Administrative Sciences, 76(3), 537–554. https://doi.org/10.1177/0020852310372449
Christiaens, J., Vanhee, C., Manes-Rossi, F., Aversano, N., & Van Cauwenberge, P. (2015).
The effect of IPSAS on reforming governmental financial reporting: An international comparison. International Review of Administrative Sciences, 81(1), 158–177. https://doi.org/10.1177/0020852314546580
Connolly, C., & Hyndman, N. (2013). Charity accountability in the UK: Through the eyes of the donor. Qualitative Research in Accounting & Management, 10(3–4), 259–278. https://doi.org/10.1108/QRAM-02-2013-0006
Cordery, C. J., Belal, A. R., & Thomson, I. (2022). NGO accounting and accountability: Past, present and future. Accounting Forum, 46(1), 1–15. https://doi.org/10.1080/01559982.2021.2010423
Ebrahim, A. (2019). Measuring social change: Performance and accountability in a complex world. Stanford University Press.
Ebrahim, A., & Rangan, V. K. (2014). What impact? A framework for measuring the scale and scope of social performance. California Management Review, 56(3), 118–141. https://doi.org/10.1525/cmr.2014.56.3.118
Elmagrhi, M. H., & Ntim, C. G. (2023). Non-financial reporting in non-profit organisations: The case of risk and governance disclosures in UK higher education institutions. Accounting Forum, 47(2), 223–248. https://doi.org/10.1080/01559982.2022.2148854
Fatih, M. (2015). Implementasi penyusunan laporan keuangan pada lembaga nirlaba berdasarkan PSAK 45: Studi kasus pada Yayasan Pesantren Global Tarbiyyatul Arifin Kecamatan Pakis Kabupaten Malang (Doctoral dissertation, Universitas Islam Negeri Maulana Malik Ibrahim).
Froelich, K. A., Knoepfle, T. W., & Pollak, T. H. (2000). Financial measures in nonprofit organization research: Comparing IRS 990 return and audited financial statement data. Nonprofit and Voluntary Sector Quarterly, 29(2), 232–254. https://doi.org/10.1177/0899764000292004
Gilchrist, D. J., West, A., & Zhang, Y. (2023). Barriers to the usefulness of non-profit financial statements: Perspectives from key internal stakeholders. Australian Accounting Review, 33(2), 188–202. https://doi.org/10.1111/auar.12401
Halim, A., & Kusufi, M. S. (2007). Akuntansi sektor publik: Akuntansi keuangan daerah. Jakarta: Salemba Empat.
Hastuti, E. W. (2015). Studi atas Akuntansi Universitas sebagai Organisasi Nirlaba: Menuju Good University Governance. Al Tijarah, 1(2), 211-234.
Ikatan Akuntan Indonesia. (2018). Interpretasi Standar Akuntansi Keuangan (ISAK) 35: Penyajian laporan keuangan entitas berorientasi nonlaba. IAI.
Ikatan Akuntan Indonesia. (2019). Pencabutan PSAK 45 dan penerbitan ISAK 35. Dewan Standar Akuntansi Keuangan.
Ikatan Akuntan Indonesia. (2020). Interpretasi Standar Akuntansi Keuangan (ISAK) 35: Penyajian laporan keuangan entitas berorientasi nonlaba. IAI.
Ikatan Akuntan Indonesia. (2023). Kerangka konseptual pelaporan keuangan. IAI.
Jaradat, Z., Taha, R., Mat Zin, R., Wan Zakaria, W. Z., & Abdul Aziz, R. (2021). The use and implications of management accounting practices in small and medium-sized enterprises. Asia-Pasific Management Accounting Journal, 16(1), 250-295.
Jaradat, Z., Taha, R., Zin, R., Zakaria, W., & Aziz, R. (2021). The Use And Implications of Management Accounting Practices in Small and Medium-Sized Enterprises. Asia-Pacific Management Accounting Journal. https://doi.org/10.24191/apmaj.v16i1-10.
Jones, R., & Pendlebury, M. (2010). Public sector accounting (6th ed.). Pearson Education.
Kurniawan, M. (2017). Pendapatan Komprehensif Lain Perusahaan Sektor Aneka Industri di Indonesia. Jurnal Riset Akuntansi & Perpajakan (JRAP), 4(02), 258-273.
Lapsley, I., Mussari, R., & Paulsson, G. (2009). On the adoption of accrual accounting in the public sector: A self-evident and problematic reform. European Accounting Review, 18(4), 719–723. https://doi.org/10.1080/09638180903334960
Lestari, L., & Irwansyah, M. (2023). Pengaruh Pemahaman Konsep Dasar Akuntansi dan Pengalaman Praktik Kerja Lapangan terhadap Kesiapan Siswa dalam Bekerja Pada Kelas XII Program Keahlian Akuntansi dan Keuangan Lembaga di SMK Negeri 1 Tabanan. Ekuitas: Jurnal Pendidikan Ekonomi. https://doi.org/10.23887/ekuitas.v11i1.60584.
Mack, J., & Ryan, C. (2007). Is there an audience for public sector annual reports: Australian evidence?. International Journal of Public Sector Management, 20(2), 134-146.
Makawekes, M., Alexander, S., & Tirayoh, V. (2025).
Penerapan ISAK Nomor 35 tentang penyajian laporan keuangan entitas berorientasi nonlaba pada Yayasan Sekolah Luar Biasa Finjil Bitung. Manajemen Bisnis dan Keuangan Korporat.
Moll, Y. (2023). Can there be a Godly ethnography? Islamic anthropology, epistemic decolonization, and the ethnographic stance. American Anthropologist. https://doi.org/10.1111/aman.13911.
O’Dwyer, B., & Unerman, J. (2016).
Fostering rigour in accounting for social sustainability. Accounting, Organizations and Society, 49, 32–40. https://doi.org/10.1016/j.aos.2015.11.003
Parsons, L. M. (2007).
The impact of financial information and voluntary disclosures on contributions to not-for-profit organizations. Behavioral Research in Accounting, 19(1), 179–196. https://doi.org/10.2308/bria.2007.19.1.179
Putra, a. (2021). Analysis Of Factors Affecting Accounting Students In Career Selection As Public And Non-Public Accountants. Jurnal Ekonomi : Journal of Economic. https://doi.org/10.47007/jeko.v12i01.4001.
Sari, R., & Muslim, M. (2023).
Accountability and transparency in public sector accounting: A systematic review. Amkop Management Accounting Review (AMAR), 3(2), 90–106.
Sitanggang, F., Putri, D., & Sitanggang, P. (2021). Analisis Faktor-Faktor yang Mempengaruhi Keputusan Mahasiswa dalam Memilih Program Studi Manajemen Jenjang Strata-1 pada Perguruan Tinggi Swasta dan Perguruan Tinggi Negeri di Kota Jambi. , 5, 117-131. https://doi.org/10.33087/ekonomis.v5i1.300.
Sundarasen, S., Rajagopalan, U., & Alsmady, A. (2024). Environmental Accounting and Sustainability: A Meta-Synthesis. Sustainability. https://doi.org/10.3390/su16219341.
Tahir, A., Lande, A., Ermawati, Y., Basannang, S., & Junaedy, J. (2025). Analysis of the Role of Social Accounting in Addressing Income Inequality and Environmental Influences. Paradoks : Jurnal Ilmu Ekonomi. https://doi.org/10.57178/paradoks.v8i1.1078.
Tumiwa, K., Walukow, I., & Losu, R. M. (2022). Analisis aspek keperilakuan terhadap penerapan sistem akuntansi persediaan pada dinas PUPRD Provinsi Sulut. Jurnal Bisnis Dan Kewirausahaan, 18(3), 207-218.
Universitas Lancang Kuning. (2024).
Laporan keuangan auditan Universitas Lancang Kuning tahun 2023–2024. UNILAK.
Yang, Y. (Jenny), & Simnett, R. (2023). Determinants and quality of audits and reviews of small charities financial statements. International Journal of Auditing, 27(4), 220–240. https://doi.org/10.1111/ijau.12310
Yuesti, A., & Adnyana, I. M. D. (2022). Accountability for system of reporting and disclosure statements for non-government organizations in Indonesia. Journal of Public Affairs, 22, e2490. https://doi.org/10.1002/pa.2490
Yetman, M. H., & Yetman, R. J. (2012).
The effects of governance on the accuracy of charitable expenses reported by nonprofit organizations. Contemporary Accounting Research, 29(3), 738–767. https://doi.org/10.1111/j.1911-3846.2011.01121.x
Altamuro, J. L. M., & Harris, E. E. (2023). Nonprofit accounting conservatism. Journal of Accounting and Public Policy, 42(5), 107132. https://doi.org/10.1016/j.jaccpubpol.2023.107132
Behn, B. K., DeVries, D. D., & Lin, J. (2010). The determinants of transparency in nonprofit organizations: An exploratory study. Advances in Accounting, Incorporating Advances in International Accounting, 26(1), 6–12. https://doi.org/10.1016/j.adiac.2010.02.001
Christiaens, J., Reyniers, B., & Rollé, C. (2010). Impact of IPSAS on reforming governmental financial information systems: A comparative study. International Review of Administrative Sciences, 76(3), 537–554. https://doi.org/10.1177/0020852310372449
Christiaens, J., Vanhee, C., Manes-Rossi, F., Aversano, N., & Van Cauwenberge, P. (2015).
The effect of IPSAS on reforming governmental financial reporting: An international comparison. International Review of Administrative Sciences, 81(1), 158–177. https://doi.org/10.1177/0020852314546580
Connolly, C., & Hyndman, N. (2013). Charity accountability in the UK: Through the eyes of the donor. Qualitative Research in Accounting & Management, 10(3–4), 259–278. https://doi.org/10.1108/QRAM-02-2013-0006
Cordery, C. J., Belal, A. R., & Thomson, I. (2022). NGO accounting and accountability: Past, present and future. Accounting Forum, 46(1), 1–15. https://doi.org/10.1080/01559982.2021.2010423
Ebrahim, A. (2019). Measuring social change: Performance and accountability in a complex world. Stanford University Press.
Ebrahim, A., & Rangan, V. K. (2014). What impact? A framework for measuring the scale and scope of social performance. California Management Review, 56(3), 118–141. https://doi.org/10.1525/cmr.2014.56.3.118
Elmagrhi, M. H., & Ntim, C. G. (2023). Non-financial reporting in non-profit organisations: The case of risk and governance disclosures in UK higher education institutions. Accounting Forum, 47(2), 223–248. https://doi.org/10.1080/01559982.2022.2148854
Fatih, M. (2015). Implementasi penyusunan laporan keuangan pada lembaga nirlaba berdasarkan PSAK 45: Studi kasus pada Yayasan Pesantren Global Tarbiyyatul Arifin Kecamatan Pakis Kabupaten Malang (Doctoral dissertation, Universitas Islam Negeri Maulana Malik Ibrahim).
Froelich, K. A., Knoepfle, T. W., & Pollak, T. H. (2000). Financial measures in nonprofit organization research: Comparing IRS 990 return and audited financial statement data. Nonprofit and Voluntary Sector Quarterly, 29(2), 232–254. https://doi.org/10.1177/0899764000292004
Gilchrist, D. J., West, A., & Zhang, Y. (2023). Barriers to the usefulness of non-profit financial statements: Perspectives from key internal stakeholders. Australian Accounting Review, 33(2), 188–202. https://doi.org/10.1111/auar.12401
Halim, A., & Kusufi, M. S. (2007). Akuntansi sektor publik: Akuntansi keuangan daerah. Jakarta: Salemba Empat.
Hastuti, E. W. (2015). Studi atas Akuntansi Universitas sebagai Organisasi Nirlaba: Menuju Good University Governance. Al Tijarah, 1(2), 211-234.
Ikatan Akuntan Indonesia. (2018). Interpretasi Standar Akuntansi Keuangan (ISAK) 35: Penyajian laporan keuangan entitas berorientasi nonlaba. IAI.
Ikatan Akuntan Indonesia. (2019). Pencabutan PSAK 45 dan penerbitan ISAK 35. Dewan Standar Akuntansi Keuangan.
Ikatan Akuntan Indonesia. (2020). Interpretasi Standar Akuntansi Keuangan (ISAK) 35: Penyajian laporan keuangan entitas berorientasi nonlaba. IAI.
Ikatan Akuntan Indonesia. (2023). Kerangka konseptual pelaporan keuangan. IAI.
Jaradat, Z., Taha, R., Mat Zin, R., Wan Zakaria, W. Z., & Abdul Aziz, R. (2021). The use and implications of management accounting practices in small and medium-sized enterprises. Asia-Pasific Management Accounting Journal, 16(1), 250-295.
Jaradat, Z., Taha, R., Zin, R., Zakaria, W., & Aziz, R. (2021). The Use And Implications of Management Accounting Practices in Small and Medium-Sized Enterprises. Asia-Pacific Management Accounting Journal. https://doi.org/10.24191/apmaj.v16i1-10.
Jones, R., & Pendlebury, M. (2010). Public sector accounting (6th ed.). Pearson Education.
Kurniawan, M. (2017). Pendapatan Komprehensif Lain Perusahaan Sektor Aneka Industri di Indonesia. Jurnal Riset Akuntansi & Perpajakan (JRAP), 4(02), 258-273.
Lapsley, I., Mussari, R., & Paulsson, G. (2009). On the adoption of accrual accounting in the public sector: A self-evident and problematic reform. European Accounting Review, 18(4), 719–723. https://doi.org/10.1080/09638180903334960
Lestari, L., & Irwansyah, M. (2023). Pengaruh Pemahaman Konsep Dasar Akuntansi dan Pengalaman Praktik Kerja Lapangan terhadap Kesiapan Siswa dalam Bekerja Pada Kelas XII Program Keahlian Akuntansi dan Keuangan Lembaga di SMK Negeri 1 Tabanan. Ekuitas: Jurnal Pendidikan Ekonomi. https://doi.org/10.23887/ekuitas.v11i1.60584.
Mack, J., & Ryan, C. (2007). Is there an audience for public sector annual reports: Australian evidence?. International Journal of Public Sector Management, 20(2), 134-146.
Makawekes, M., Alexander, S., & Tirayoh, V. (2025).
Penerapan ISAK Nomor 35 tentang penyajian laporan keuangan entitas berorientasi nonlaba pada Yayasan Sekolah Luar Biasa Finjil Bitung. Manajemen Bisnis dan Keuangan Korporat.
Moll, Y. (2023). Can there be a Godly ethnography? Islamic anthropology, epistemic decolonization, and the ethnographic stance. American Anthropologist. https://doi.org/10.1111/aman.13911.
O’Dwyer, B., & Unerman, J. (2016).
Fostering rigour in accounting for social sustainability. Accounting, Organizations and Society, 49, 32–40. https://doi.org/10.1016/j.aos.2015.11.003
Parsons, L. M. (2007).
The impact of financial information and voluntary disclosures on contributions to not-for-profit organizations. Behavioral Research in Accounting, 19(1), 179–196. https://doi.org/10.2308/bria.2007.19.1.179
Putra, a. (2021). Analysis Of Factors Affecting Accounting Students In Career Selection As Public And Non-Public Accountants. Jurnal Ekonomi : Journal of Economic. https://doi.org/10.47007/jeko.v12i01.4001.
Sari, R., & Muslim, M. (2023).
Accountability and transparency in public sector accounting: A systematic review. Amkop Management Accounting Review (AMAR), 3(2), 90–106.
Sitanggang, F., Putri, D., & Sitanggang, P. (2021). Analisis Faktor-Faktor yang Mempengaruhi Keputusan Mahasiswa dalam Memilih Program Studi Manajemen Jenjang Strata-1 pada Perguruan Tinggi Swasta dan Perguruan Tinggi Negeri di Kota Jambi. , 5, 117-131. https://doi.org/10.33087/ekonomis.v5i1.300.
Sundarasen, S., Rajagopalan, U., & Alsmady, A. (2024). Environmental Accounting and Sustainability: A Meta-Synthesis. Sustainability. https://doi.org/10.3390/su16219341.
Tahir, A., Lande, A., Ermawati, Y., Basannang, S., & Junaedy, J. (2025). Analysis of the Role of Social Accounting in Addressing Income Inequality and Environmental Influences. Paradoks : Jurnal Ilmu Ekonomi. https://doi.org/10.57178/paradoks.v8i1.1078.
Tumiwa, K., Walukow, I., & Losu, R. M. (2022). Analisis aspek keperilakuan terhadap penerapan sistem akuntansi persediaan pada dinas PUPRD Provinsi Sulut. Jurnal Bisnis Dan Kewirausahaan, 18(3), 207-218.
Universitas Lancang Kuning. (2024).
Laporan keuangan auditan Universitas Lancang Kuning tahun 2023–2024. UNILAK.
Yang, Y. (Jenny), & Simnett, R. (2023). Determinants and quality of audits and reviews of small charities financial statements. International Journal of Auditing, 27(4), 220–240. https://doi.org/10.1111/ijau.12310
Yuesti, A., & Adnyana, I. M. D. (2022). Accountability for system of reporting and disclosure statements for non-government organizations in Indonesia. Journal of Public Affairs, 22, e2490. https://doi.org/10.1002/pa.2490
Yetman, M. H., & Yetman, R. J. (2012).
The effects of governance on the accuracy of charitable expenses reported by nonprofit organizations. Contemporary Accounting Research, 29(3), 738–767. https://doi.org/10.1111/j.1911-3846.2011.01121.x