Inventory Recording Analysis in Accordance with PSAK 14: a Case Study at Optik Sebintang, Malang

Abstract

Inventory is a strategic current asset for optical retail businesses because it directly affects sales continuity, the calculation of cost of goods sold, and company profitability. Many small and medium optical enterprises in Indonesia still record inventory manually or through simple spreadsheet applications without strict reference to accounting standards, creating a risk of non-compliance with the applicable inventory standard. This study aims to analyze the recognition, measurement, recording, valuation, and presentation of inventory at Optik Sebintang, Malang, in relation to the requirements of Statement of Financial Accounting Standards (PSAK) No. 14 on Inventories. A descriptive qualitative approach was employed, with data obtained through in-depth interviews, direct observation, and non-internal documentation involving the owner, administration staff, warehouse staff, and cashier as key informants; data validity was established through source triangulation and member checking, and data were analyzed using the interactive model of Miles, Huberman, and Saldana. The results show that four of the five inventory aspects examined—recognition, recording, valuation, and presentation—are consistent with PSAK 14. The measurement aspect, however, is not fully consistent, because damaged goods are written off directly without first assessing their Net Realizable Value. The study recommends that Optik Sebintang formulate a written policy for NRV-based valuation of damaged inventory prior to write-off.