CREATING FINANCIAL STATEMENTS AND EVALUATING PRODUCT PRICE SETTING AT MSME ENF
Putri Kusumapratiwi, Lily Sudhartio
Master of Management, University of Indonesia
Abstract
This paper delineates the implementation of a business coaching program conducted in an Indonesian Micro Small Medium Enterprises (MSME), named ENF, operated in the food and beverage industry. The objectives of this study are to explore MSME-s potentials and challenges, analyze MSME-s problems, and provide solutions. This study is based on a qualitative method, which is gathering the data through interviews, observations and written documentations, and using five external and internal analysis tools, namely (1) Porter-s Five Forces, (2) Business Process, (3) Business Model Canvas, (4) Marketing Mix, and (5) SWOT. The analysis shows that EnF is facing financial issues in preparing financial statements and evaluating the price setting. For the financial issues, we recommend using an Android-based mobile financial application called Akuntansi UKM to record financial information systematically and accurately. The application generates financial reports to improve the MSME-s performance. For the latter issue, we recommend cost-based pricing to recalculate the cost of goods sold and formulate price setting by markup per unit.
Keywords: business coaching, financial statement, price setting, cost-based pricing
Topic: Entrepreneurship