Analisis Faktor-Faktor yang Mempengaruhi Kualitas Laporan Keuangan pada EMKM di Kabupaten Nganjuk

Micro, small, and medium entities (EMKM) underpin the Indonesian economy, yet many of them still struggle to prepare financial statements that satisfy the qualitative characteristics set out in SAK EMKM. Earlier studies usually examined the drivers of reporting quality separately, and their conclusions about financial literacy remain inconsistent. Building on the Resource-Based View and Decision Usefulness Theory, this quantitative associative study investigates how human capital, accounting information systems (AIS), and financial literacy influence the financial reporting quality of EMKM in Nganjuk Regency, East Java. Data came from a five-point Likert questionnaire completed by 200 owner-managers, who were selected through proportionate stratified random sampling out of 3,323 registered EMKM across 20 sub-districts. The data were processed with multiple linear regression, controlling for business age, annual turnover, the owner’s education, and the number of employees. Human capital (B = 0.303; p < 0.001) and AIS (B = 0.249; p < 0.001) had positive and significant effects on reporting quality in every model specification. Financial literacy (B = 0.117; p = 0.047) was positive but only marginally significant, and it did not remain significant when the control variables were left out or when robust standard errors were used. Together, the three predictors explained 27.3% of the variance (Adjusted R² = 0.273; F = 11.692; p < 0.001), and human capital had the largest standardized effect (β = 0.332). Local governments that support EMKM should therefore give priority to bookkeeping competence and the adoption of accounting systems, while the role of financial literacy needs further testing.