Analysis of Internal Control System of Receivables at the International School Foundation in Bali Indonesia

Abstract

This study aims, first, to determine and analyze the internal control system of receivables at the Stella Mundi Indonesia Foundation. Second, it seeks to identify and analyze the factors that contribute to the success of controlling receivables. The type of research employed is descriptive research with a qualitative approach. The objects of the study consist of receivables variables and internal control systems, utilizing the COSO (Committee of Sponsoring Organizations) framework. The subjects in this study include the Stella Mundi Indonesia Foundation, the Head of General Administration, and all staff members of the finance unit as sources of information. Data collection techniques used were interviews, documentation, and observation. The data analysis technique applied was qualitative data analysis following the Miles and Huberman model. The results of the study showed that (1) the internal control system of receivables at the Stella Mundi Indonesia Foundation has been operating effectively. This is evidenced by the implementation of the five components of the internal control system, namely control environment, risk assessment, control activities, information and communication, and monitoring, all of which are functioning well, thereby minimizing the risk of uncollectible receivables. (2) The factors influencing success in controlling receivables are as follows: first, the receivables management control system operates effectively and efficiently; second, support from the management information system; third, competent human resources with high commitment; fourth, characteristics of the students' parents; and fifth, an accounting system and standard operating procedures that are appropriate, accurate, and effective.