Strengthening Village Economy: The Role of Financial Planning, Implementation, and Reporting in Enhancing Business Transparency
Keywords:
MSME Finance; Accountability; Financial Implementation; Financial Reporting; TransparencyAbstract
Effective financial management is an important prerequisite for the sustainability and growth of Micro, Small, and Medium Enterprises (MSMEs). This study aims to examine the asymmetric influence of financial planning, financial implementation, and financial reporting on accountability transparency among 50 Cocopet MSMEs in Kampung Qur'an Langkat Hamlet. Data collection methods include questionnaires, literature reviews, and observations. X1, x2, x3, and y, each measured using two indicators, then the indicators are arranged into questions, with a total of eight questions asked. These questions are given to the research sample, the results of the question answers are processed using SPSS. The population of this study includes all small businesses in Sei Bingei Village, Langkat (50 MSMEs). Saturated sampling technique was used to select the sample. Collected data were analyzed using multiple regression. The results showed that variables X1, X2, and X3 simultaneously have a significant influence on transparency (Y1) (F = 5.80, p = 0.002), explaining 26% of the variation. Partially, Financial Implementation (X2) was found to have the largest coefficient (beta=0.35, p=0.012), indicating the important role of operational discipline in promoting transparency. In contrast, Financial Reporting (X3) had a negative and insignificant coefficient (beta=-0.05, p=0.750), which confirms the paradox that amidst low record-keeping practices (Reporting), accountability remains driven by transactional consistency (Implementation). The original contribution of this study is to challenge the traditional assumption that Financial Reporting is a key prerequisite for MSME accountability, emphasizing the need for an adaptive model that focuses on behavioral discipline in the context of micro-enterprises. The limitation of this study lies in its single geographical scope.
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