Revenue Recognition and Measurement Practices in an Indonesian Logistics Service Company: Evidence from CV. Sumber Bima
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Abstract
This study aims to analyze the implementation of revenue recognition and revenue measurement at CV. Sumber Bima, Surabaya, based on the Indonesian Statement of Financial Accounting Standards (PSAK) No. 23 and to evaluate its compliance with the applicable accounting standards. This research employed a descriptive qualitative approach using a case study design. Data were collected through interviews, observations, and documentation of financial statements, transaction records, and supporting company documents. The data were analyzed using descriptive qualitative techniques involving data reduction, data presentation, and conclusion drawing by comparing the company's accounting practices with the provisions of PSAK No. 23. The findings indicate that CV. Sumber Bima applies the accrual basis in recognizing revenue, whereby revenue is recognized after transportation services have been completed and the company's right to receive consideration has arisen. Revenue is measured based on the transaction value or the fair value of the consideration agreed upon in contracts and invoices, indicating that the company's revenue recognition and measurement practices generally comply with PSAK No. 23. Nevertheless, the company is encouraged to strengthen its accounts receivable management policies and establish an allowance for doubtful accounts to further improve financial reporting quality. The findings imply that consistent implementation of accounting standards enhances the relevance, reliability, and transparency of financial information for decision-making. The originality of this study lies in providing empirical evidence on revenue recognition and measurement practices in a non-public logistics service company in Indonesia, an area that remains relatively underexplored in the accounting literature, while offering practical insights into the implementation of PSAK No. 23 for academics, practitioners, and regulators.
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