Financial governance: Cases at Village-Owned Enterprises (BUMDEs) in Lampung Province
Abstract:
Purpose: This study examines the accountability and transparency of BUMDes financial governance implementation in Lampung Province within four stages of the financial governance process, which results in BUMDes inactivity.
Research methodology: This study uses a qualitative approach to analyze financial governance in BUMDes. The analysis is viewed from the four stages of village finance governance and indicators of transparency and accountability. Data collection was carried out through interviews with BUMDes administrators and distributing questionnaires. The resource persons in this study were BUMDes managers in Lampung Province.
Results: This study affirms that while the financial governance process in BUMDes incorporates elements of transparency and accountability, the level of implementation is inadequate, resulting in inactive BUMDes in Lampung Province. Finance governance is carried out based on BUMDes management's needs and understanding without appropriate governing documentation. Additionally, this research highlights the necessity for community participation to be appropriately implemented.
Limitations: The focus on village-owned enterprises in Lampung Province limits the generalizability of the study findings to other village-owned enterprises in other provinces.
Contribution: This research provides insight into BUMDes financial governance, specifically the implementation of finance governance in Lampung Province. It also examines which parts of the four stages of the financial governance process need improvement and optimization to increase transparency and accountability of BUMDes, as well as decrease the number of inactive BUMDes. This is a previously unexplored topic of research that is relevant to all stakeholders concerned with BUMDes financial governance.
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Tukur, S., Shehu, J., Mammadi, A., & Sulaiman, U. A. (2019). An Assessment of Corporate Social Responsibility of Property Developers in Bauchi Metropolis, Nigeria. International Journal of Financial, Accounting, and Management, 1(2), 119–129. https://doi.org/https://doi.org/10.35912/ijfam.v1i2.109
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Williams, B., Bingham, S., & Shimeld, S. (2015). Corporate Governance, The GFC and Independent Directors. Managerial Auditing Journal, 30(4–5), 324–346. https://doi.org/10.1108/MAJ-05-2014-1030
- Anggraeni, M. R. R. S. (2016). Peranan Badan Usaha Milik Desa (BUMDES) Pada Kesejahteraan Masyarakat Pedesaan Studi Pada BUMDES Di Gunung Kidul, Yogyakarta. Modus, 28(2), 155. https://doi.org/10.24002/modus.v28i2.848
- Aryadi, F., Ahadiat, A., & Ribhan, R. (2020). Financial Performance of Bandar Lampung City Government (Comparing the Accountability of Two Mayor Periods: 2006 – 2010 vs 2011 – 2015). International Journal of Financial, Accounting, and Management, 2(3), 213–225. https://doi.org/https://doi.org/10.35912/ijfam.v2i3.232
- Asmanto, P., Nurfitriah, S., Leiwakabessy, I., Maulana, M., & Sutikno. (2020). Pendayagunaan Badan Usaha Milik Desa Dalam Pemulihan Ekonomi Pascawabah Covid-19. In TNP2PK. Jakarta.
- Barraket, J., Anderson, H., Collyer, N., & Connor, M. O. (2010). Finding Australia’s Social Enterprise Sector: Final Report. In Queensland University of Technology. Queensland.
- Besley, T., & Ghatak, M. (2017). Profit with purpose? A theory of social enterprise. American Economic Journal: Economic Policy, 9(3), 19–58. https://doi.org/10.1257/pol.20150495
- Ebrahim, A., Battilana, J., & Mair, J. (2014). The governance of social enterprises: Mission drift and accountability challenges in hybrid organizations. Research in Organizational Behavior, 34. https://doi.org/10.1016/j.riob.2014.09.001
- Eton, M., Mwosi, F., & Ogwel, B. P. (2022). Are Internal Controls Important in Financial Accountability? (Evidence from Lira District Local Government, Uganda). International Journal of Financial, Accounting, and Management, 3(4), 359–372. https://doi.org/https://doi.org/10.35912/ijfam.v3i4.810
- Faridah, F., & Suryono, B. (2015). Transparansi dan Akuntabilitas Pemerintah Desa Dalam Pengelolaan Anggaran Pendapatan dan Belanja Desa (APBDES). Jurnal Ilmu Dan Riset Akuntansi, 4(5), 1–20.
- Fitrianto, R. N. (2020). Analisis Akuntabilitas Pengelolaan Kauangan BUMDES Berkah Bersama (Studi Kasus di Desa Karang Bunga, Kecamatan Alalak, Kabupaten Barito Kuala, Provinsi Kalimantan Selatan). Universitas Muhammadiyah Malang, Malang.
- Hamzah, A. (2015). Tata Kelola Pemerintah Desa Menuju Desa Mandiri, Sejahtera, dan Partisipatoris. Surabaya: Pustaka.
- Hukins, G. (2011). Accounting for General Practitioners - The Importance of Recording Financial Transactions. South African Family Practice, 18.
- Kurniasih, D. (2017). Problem Pengelolaan Badan Usaha Milik Desa (BUMDES) Di Kabupaten Banyumas. Jurnal Administrasi Publik Dan Politik, 1(No. III), 182–188.
- Mahmudi, M. (2010). Lokasi: Manajemen keuangan daerah. Jakarta: Erlangga.
- Mardiasmo, M. (2002). Otonomi dan Manajemen Keuangan Daerah. Yogyakarta: Andi.
- Mondal, M. S. A., Akter, N., & Polas, M. R. H. (2023). Factors Influencing The Environmental Accounting Disclosure Practices for Sustainable Development: A Systematic Literature Review. International Journal of Financial, Accounting, and Management, 5(2), 195–213. https://doi.org/https://doi.org/10.35912/ijfam.v5i2.1365
- Nafarin, M. (2013). Penganggaran Perusahaan. Jakarta: Salemba Empat.
- Nasruddin, E., & Misaridin, N. (2014). Innovation for a Social Enterprise Business Model: An Analysis of Key Success Factors. International Journal of Organizational Innovation, 7, 149–157.
- Natawibawa, I. W. Y., Mulya, I. M. O., & Yoh, W. H. (2019). Transparency and Accountability as Determinants in The Financial Management of Universities: A Study on State Universities in Malang City. Jurnal Tata Kelola & Akuntabilitas Keuangan Negara, 5(1), 57. https://doi.org/10.28986/jtaken.v5i1.247
- Omodero, C. O. (2019). Genesis of Accountability and Its Impact on Accounting. International Journal of Financial, Accounting, and Management, 1(1), 47–55. https://doi.org/1(1), 47–55. https://doi.org/10.35912/ijfam.v1i1.78
- Pakaya, N., Rorong, A., & Tulusan, F. (2019). Transparansi Pengelolaan Badan Usaha Milik Desa (BUMDes) Di Desa Kamanga Kecamatan Tompaso. Jurnal Administrasi Publik, 5(74).
- Pemerintah Republik Indonesia. Peraturan Menteri Dalam Negeri Nomor 113 Tentang Pengelolaan Keuangan Desa. , (2014).
- Pemerintah Republik Indonesia. Undang-undang No.6 Tentang Desa. , (2014). Indonesia.
- Pemerintah Republik Indonesia. Peraturan Menteri Desa PDTT No.4 Tentang Pendirian, Pengurusan dan Pengelolaan, dan Pembubaran Badan Usaha Milik Desa. , (2015). Indonesia.
- Pemerintah Republik Indonesia. Peraturan Pemerintah Republik Indonesia Nomor 45 Tentang Partisipasi Masyarakat Dalam Penyelenggaraan Pemerintahan Daerah. , (2017).
- Rahmawati, E. (2020). Analisis Pengelolaan Badan Usaha Milik Desa (BUM DESA) Di Kabupaten Bandung Barat. Jurnal Ilmiah Ekonomi Bisnis, 25(1), 1–13. https://doi.org/10.35760/eb.2020.v25i1.2386
- Scott, W. R. (2015). Financial accounting Theory (7th ed.). Toronto: Pearson.
- Srirejeki, K. (2015). Tata Kelola Keuangan Desa. Jurnal Akuntansi Dan Bisnis, 15(1), 33. https://doi.org/10.20961/jab.v15i1.174
- Suryanto, R. (2019). Pelatihan Tata Kelola Administrasi dan Keuangan BUMDES. Lampung.
- Tukur, S., Shehu, J., Mammadi, A., & Sulaiman, U. A. (2019). An Assessment of Corporate Social Responsibility of Property Developers in Bauchi Metropolis, Nigeria. International Journal of Financial, Accounting, and Management, 1(2), 119–129. https://doi.org/https://doi.org/10.35912/ijfam.v1i2.109
- Widiastuti, H., Putra, W. M., Utami, E. R., & Suryanto, R. (2019). Menakar Tata Kelola Badan Usaha Milik Desa di Indonesia. Jurnal Ekonomi dan Bisnis, Vol. 22 No.2, Oktober 2019, pp.257-288. - Penelusuran Google. Jurnal Ekonomi Dan BIsnis, 22, 257–288. https://doi.org/https://dx.doi.org/10.24914/jeb.v22i2.2410
- Williams, B., Bingham, S., & Shimeld, S. (2015). Corporate Governance, The GFC and Independent Directors. Managerial Auditing Journal, 30(4–5), 324–346. https://doi.org/10.1108/MAJ-05-2014-1030