Simple financial statements for individual companies: concepts and techniques based on mapalus philosophy

The author aims to provide a concept and technique of simple financial reporting and introduce the benefits of financial accountability. Authors use a qualitative method or approach with phenomenological studies. Mapalus philosophy is appointed to create a concept and technique of financial accountability for the business of an independent, non -manipulative, and objective individual company. The results of this study are expected to contribute to policymakers and especially respective business owners to report their business results as well as possible through techniques and simple and easy-to-understand strategies and ways. The recording technique offered is based on a single entry by carrying out three final financial reports, namely the Cash and Bank Activity Report based on the touching heart concept, the Debt and Receivable Disclosure Report based on the teaching mind concept, and the Asset Value Report with the underlying concept, namely transforming life. The authors hope that the element of convenience in preparing financial statements with current accounting standards will continue to be considered, and adjustments will be made on an ongoing basis to find an appropriate standard. The urgency of the standard is realized as needed because there is still a significant level of misstatement due to a lack of understanding, even reporting for tax compliance which tends to be low by national business actors.