Last modified: 2017-06-15
Abstract
This study aims to analyze the implementation of Javanese local wisdom in accounting equation and accounting transactions especially in family business. Javanese local wisdom is one of perspective to develop new knowledge.
This study used Case Study Research (CSR) approach. The research objective was to find out the problems of Javanese local wisdom value implementation. Therefore, the descriptive practice-oriented research was conducted. Data were gathered through observation and interview with owner or chief executive officer company in Solo.
The finding shows Javanese local wisdom values can be implemented in company even though they are implemented only in a few transactions. Accounting equation based on local wisdom value becomes more important because we can get the meaning of “katentreman ati” (real happiness). “Tulung tinulung” (help each other), social obligation and dignify employee as social capital make these companies survival.
The limitation of this study is data collection only gathered from family company. In addition, the real observation about participant’s activities is limited only in several transactions.
However, this study raises two interesting problems to think about the implementation of local wisdom value: exploration local genius and alternative local wisdom mindset in accounting. The local wisdom value could be well implemented only with commitment to share value to the next generations