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Abstract
This study aims to develop and validate a conceptual framework for a sustainability-based (ESG) bright cloud accounting model to address information gaps and improve access to financing for manufacturing MSMEs in Kendari City. The research method used is Research and Development (R&D) following the Borg & Gall model, involving problem identification, needs validation, model design, and expert validation. Data were collected through surveys and in-depth interviews with 30 MSMEs and 30 experts (academics, practitioners, and bankers). The research successfully designed a model framework consisting of four integrated components: an automated financial recording system, quantified ESG indicators, financial and ESG analysis engines, and comprehensive reporting outputs. Expert validation indicated a very high feasibility of the model, with average scores of 4.4 for the framework and 4.6 for the indicators, as well as the highest relevance (score 4.7) for the needs of green financing assessment by banks. The key conclusion is that this model has the potential to be an effective solution for reducing information asymmetry, documenting sustainability practices, and serving as a credible signaling tool for MSMEs in accessing financing, in line with sustainable finance regulations in Indonesia.
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References
- Alsulami, F. (2025). Digital innovation and sustainable accounting practices: A systematic literature review through the governance context. Journal of Governance and Regulation, 14(1), 38–48. https://doi.org/10.22495/jgrv14i1art4
- Amir, H., Dadang, S., & Agus, Z.A. (2023). Factors Affecting Cloud Accounting Adoption In SMEs. Jurnal Akuntansi, 27(3), 442–464. https://doi.org/10.24912/ja.v27i3.1520
- Baker, J. (2011). The Technology Organization Environment Framework. Information System Theory, 1(28), 231–245. https://www.researchgate.net/publication/226145805_The_Technology-Organization-Environment_Framework
- Binaluyo, J.P. (2024). Exploring the challenges and opportunities for sustainability reporting adoption among small and medium enterprises: A case in a developing country in Asia. Journal of Infrastructure, Policy and Development, 8(13), 8736. https://doi.org/10.24294/jipd8736
- Borg, W.R., & Gall, M.D. (1984). Educational Research: An Introduction. British Journal of Educational Studies, 32(3), 274–274. https://www.researchgate.net/publication/232559864_Educational_Research_An_Introduction
- Bougie, R., & Sekaran, U. (2019). Research Methods For Business (8th ed). Hoboken: Wiley. https://www.wiley.com/en-us/Research+Methods+For+Business%3A+A+Skill+Building+Approach%2C+8th+Edition-p-9781119561248
- Department of Surveillance DKSJKT. (2024). Taksonomi untuk Keuangan Berkelanjutan Indonesia. Otoritas Jasa Keuangan. Tersedia pada: https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Documents/Pages/Taksonomi-untuk-Keuangan-Berkelanjutan-Indonesia/Buku%20Taksonomi%20untuk%20Keuangan%20Berkelanjutan%20Indonesia%20(TKBI).pdf
- Dlamini, B., & Schutte, D. P. (2024). An Evaluation of the Adoption of Cloud Accounting by SMEs in Zimbabwe. International Journal of Economics and Financial Issues, 15(1), 288–294. https://doi.org/10.32479/ijefi.17076
- Fahmie, A., Pamungkas, B., & Munawar, A. (2025). Sustainable Accounting For SMEs in Indonesia: Implementation and Development Strategy. Jurnal Ilmiah Akuntansi Kesatuan, 13(1), 1–12. https://doi.org/10.37641/jiakes.v13i1.3099
- Hamzah Ritchi, Yahya, B., Roshi Dwiokta, & Sugianto, L. P. M. (2024). Driving Factors of Cloud Accounting Implementation in Small and Medium Enterprises (SMEs): Evidence from Indonesia. Indonesian Journal of Information Systems, 6(2), 140–155. https://doi.org/10.24002/ijis.v6i2.6827
- Idham. (2023). Pelaku UMKM di Kota Kendari Terus Meningkat. Radio Republik Indonesia. Tersedia pada : https://www.rri.co.id/daerah/128259/umkm-di-kota-kendari-terus-meningkat.
- Jansen, M.C. & Meckling, W.H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://www.sfu.ca/~wainwrig/Econ400/jensen-meckling.pdf
- Junaidi M. (2024). Umkm Hebat, Perekonomian Nasional Meningkat. Ditjen Perbendaharaan KEMENKEU RI. Tersedia pada: https://djpb.kemenkeu.go.id/kppn/curup/id/data-publikasi/artikel/2885-umkm-hebat,-perekonomian-nasional-meningkat.html.
- Kartikasary, M., Wicaksono, A., Laurens, & Juvenia. (2023). Cloud Accounting Application Program Analysis in Micro, Small, and Medium Businesses in Indonesia. E3S Web of Conferences, 388, 03022. https://doi.org/10.1051/e3sconf/202338803022
- O’Reilly, S., Mac An Bhaird, C., Gorman, L., & Brennan, N. M. (2024). Accounting practitioners’ perspectives on small- and medium-sized enterprises’ environmental sustainability reporting. Journal of Applied Accounting Research, 26(6), 26–46. https://doi.org/10.1108/JAAR-08-2023-0250
- Otoritas Jasa Keuangan. (2021). The Future of Finance: Roadmap keuangan Berkelanjutan tahap II (2021 - 2025). Jakarta Pusat: Otoritas Jasa Keuangan. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Documents/Pages/Roadmap-Keuangan-Berkelanjutan-Tahap-II-%282021-2025%29/Roadmap%20Keuangan%20Berkelanjutan%20Tahap%20II%20%282021-2025%29.pdf
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- Petcu, M. A., Sobolevschi-David, M.-I., & Curea, S. C. (2024). Integrating Digital Technologies in Sustainability Accounting and Reporting: Perceptions of Professional Cloud Computing Users. Electronics, 13(14), 2684. https://doi.org/10.3390/electronics13142684
- Purnamasari P, Tamba VR, Rahayu P, Sari W. (2024). Peningkatan Akses Pembiayaan Untuk Usaha Mikro Kecil Dan Menengah. Jurnal Ekonomi Manajemen. 28(12):168–177. https://jurnalhost.com/index.php/jekma/article/view/2264
- Rawashdeh, A., & Rawashdeh, B. S. (2023). The effect of cloud accounting adoption on organizational performance in SMEs. International Journal of Data and Network Science, 7(1), 411–424. https://doi.org/10.5267/j.ijdns.2022.9.005
- Sa’adah RN. (2020). Metode Penelitian R&D (Research & Development): Kajian Teoritis dan Aplikatif. Malang: Literasi Nusantara Abadi. https://bintangpusnas.perpusnas.go.id/konten/BK45229/metode-penelitian-randd-research-and-development-kajian-teoretis-dan-aplikatif
- Sourabh, S. (2024). The Role of Cloud Accounting Solutions in Small Business Finance. 5(5). https://ijrpr.com/uploads/V5ISSUE5/IJRPR28267.pdf
- Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374. https://www.sfu.ca/~allen/Spence.pdf
- Suchman, M.C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20(3), 571–610. https://www.researchgate.net/publication/273070350_Managing_Legitimacy_Strategic_and_Institutional_Approaches_Academy_of_Management_Review_20_571-611
- Suyadi CC, Lataniambo RT, Efendy S (2025). Kota Kendari Dalam Angka 2025. Badan Pusat Statistik Kota Kendari. Tersedia pada: https://kendarikota.bps.go.id/id
- Wahyuni, W., Sumarni, S., Fadilah, N. F., & Nurhalizah, N. (2024). Integrating Sustainability into Accounting Practices: A Review of Social and Environmental Accounting. Advances in Applied Accounting Research, 2(3), 184–195. https://doi.org/10.60079/aaar.v2i3.350
- WWF I. (2024). Laporan Sustainable Banking Assessment (Susba) 2023: Kemampuan Perbankan Dalam Mengelola Risiko Perubahan Iklim Perlu Diperkuat. Tersedia pada: http://www.wwf.id/id/blog/sustainable-banking-assessment-2023.
- You, X., Can, C., Ke, P., & Yubin, L. (2025). ESG Disclosure Quality and Cost of Debt. Emerging Markets Review, 64(c). DOI: 10.1016/j.ememar.2024.101219 https://ideas.repec.org/a/eee/ememar/v64y2025ics1566014124001146.html
References
Alsulami, F. (2025). Digital innovation and sustainable accounting practices: A systematic literature review through the governance context. Journal of Governance and Regulation, 14(1), 38–48. https://doi.org/10.22495/jgrv14i1art4
Amir, H., Dadang, S., & Agus, Z.A. (2023). Factors Affecting Cloud Accounting Adoption In SMEs. Jurnal Akuntansi, 27(3), 442–464. https://doi.org/10.24912/ja.v27i3.1520
Baker, J. (2011). The Technology Organization Environment Framework. Information System Theory, 1(28), 231–245. https://www.researchgate.net/publication/226145805_The_Technology-Organization-Environment_Framework
Binaluyo, J.P. (2024). Exploring the challenges and opportunities for sustainability reporting adoption among small and medium enterprises: A case in a developing country in Asia. Journal of Infrastructure, Policy and Development, 8(13), 8736. https://doi.org/10.24294/jipd8736
Borg, W.R., & Gall, M.D. (1984). Educational Research: An Introduction. British Journal of Educational Studies, 32(3), 274–274. https://www.researchgate.net/publication/232559864_Educational_Research_An_Introduction
Bougie, R., & Sekaran, U. (2019). Research Methods For Business (8th ed). Hoboken: Wiley. https://www.wiley.com/en-us/Research+Methods+For+Business%3A+A+Skill+Building+Approach%2C+8th+Edition-p-9781119561248
Department of Surveillance DKSJKT. (2024). Taksonomi untuk Keuangan Berkelanjutan Indonesia. Otoritas Jasa Keuangan. Tersedia pada: https://ojk.go.id/id/berita-dan-kegiatan/info-terkini/Documents/Pages/Taksonomi-untuk-Keuangan-Berkelanjutan-Indonesia/Buku%20Taksonomi%20untuk%20Keuangan%20Berkelanjutan%20Indonesia%20(TKBI).pdf
Dlamini, B., & Schutte, D. P. (2024). An Evaluation of the Adoption of Cloud Accounting by SMEs in Zimbabwe. International Journal of Economics and Financial Issues, 15(1), 288–294. https://doi.org/10.32479/ijefi.17076
Fahmie, A., Pamungkas, B., & Munawar, A. (2025). Sustainable Accounting For SMEs in Indonesia: Implementation and Development Strategy. Jurnal Ilmiah Akuntansi Kesatuan, 13(1), 1–12. https://doi.org/10.37641/jiakes.v13i1.3099
Hamzah Ritchi, Yahya, B., Roshi Dwiokta, & Sugianto, L. P. M. (2024). Driving Factors of Cloud Accounting Implementation in Small and Medium Enterprises (SMEs): Evidence from Indonesia. Indonesian Journal of Information Systems, 6(2), 140–155. https://doi.org/10.24002/ijis.v6i2.6827
Idham. (2023). Pelaku UMKM di Kota Kendari Terus Meningkat. Radio Republik Indonesia. Tersedia pada : https://www.rri.co.id/daerah/128259/umkm-di-kota-kendari-terus-meningkat.
Jansen, M.C. & Meckling, W.H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305–360. https://www.sfu.ca/~wainwrig/Econ400/jensen-meckling.pdf
Junaidi M. (2024). Umkm Hebat, Perekonomian Nasional Meningkat. Ditjen Perbendaharaan KEMENKEU RI. Tersedia pada: https://djpb.kemenkeu.go.id/kppn/curup/id/data-publikasi/artikel/2885-umkm-hebat,-perekonomian-nasional-meningkat.html.
Kartikasary, M., Wicaksono, A., Laurens, & Juvenia. (2023). Cloud Accounting Application Program Analysis in Micro, Small, and Medium Businesses in Indonesia. E3S Web of Conferences, 388, 03022. https://doi.org/10.1051/e3sconf/202338803022
O’Reilly, S., Mac An Bhaird, C., Gorman, L., & Brennan, N. M. (2024). Accounting practitioners’ perspectives on small- and medium-sized enterprises’ environmental sustainability reporting. Journal of Applied Accounting Research, 26(6), 26–46. https://doi.org/10.1108/JAAR-08-2023-0250
Otoritas Jasa Keuangan. (2021). The Future of Finance: Roadmap keuangan Berkelanjutan tahap II (2021 - 2025). Jakarta Pusat: Otoritas Jasa Keuangan. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Documents/Pages/Roadmap-Keuangan-Berkelanjutan-Tahap-II-%282021-2025%29/Roadmap%20Keuangan%20Berkelanjutan%20Tahap%20II%20%282021-2025%29.pdf
Paunov, C., Sandra, P.S., & OECD. (2021). What Future for Science, Technology, and Innovation after COVID-19? OECD Science, Technology and Industry. 197: 1–69. https://www.oecd.org/content/dam/oecd/en/publications/reports/2021/04/what-future-for-science-technology-and-innovation-after-covid-19_21e14c42/de9eb127-en.pdf
Petcu, M. A., Sobolevschi-David, M.-I., & Curea, S. C. (2024). Integrating Digital Technologies in Sustainability Accounting and Reporting: Perceptions of Professional Cloud Computing Users. Electronics, 13(14), 2684. https://doi.org/10.3390/electronics13142684
Purnamasari P, Tamba VR, Rahayu P, Sari W. (2024). Peningkatan Akses Pembiayaan Untuk Usaha Mikro Kecil Dan Menengah. Jurnal Ekonomi Manajemen. 28(12):168–177. https://jurnalhost.com/index.php/jekma/article/view/2264
Rawashdeh, A., & Rawashdeh, B. S. (2023). The effect of cloud accounting adoption on organizational performance in SMEs. International Journal of Data and Network Science, 7(1), 411–424. https://doi.org/10.5267/j.ijdns.2022.9.005
Sa’adah RN. (2020). Metode Penelitian R&D (Research & Development): Kajian Teoritis dan Aplikatif. Malang: Literasi Nusantara Abadi. https://bintangpusnas.perpusnas.go.id/konten/BK45229/metode-penelitian-randd-research-and-development-kajian-teoretis-dan-aplikatif
Sourabh, S. (2024). The Role of Cloud Accounting Solutions in Small Business Finance. 5(5). https://ijrpr.com/uploads/V5ISSUE5/IJRPR28267.pdf
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355–374. https://www.sfu.ca/~allen/Spence.pdf
Suchman, M.C. (1995). Managing Legitimacy: Strategic and Institutional Approaches. Academy of Management Review, 20(3), 571–610. https://www.researchgate.net/publication/273070350_Managing_Legitimacy_Strategic_and_Institutional_Approaches_Academy_of_Management_Review_20_571-611
Suyadi CC, Lataniambo RT, Efendy S (2025). Kota Kendari Dalam Angka 2025. Badan Pusat Statistik Kota Kendari. Tersedia pada: https://kendarikota.bps.go.id/id
Wahyuni, W., Sumarni, S., Fadilah, N. F., & Nurhalizah, N. (2024). Integrating Sustainability into Accounting Practices: A Review of Social and Environmental Accounting. Advances in Applied Accounting Research, 2(3), 184–195. https://doi.org/10.60079/aaar.v2i3.350
WWF I. (2024). Laporan Sustainable Banking Assessment (Susba) 2023: Kemampuan Perbankan Dalam Mengelola Risiko Perubahan Iklim Perlu Diperkuat. Tersedia pada: http://www.wwf.id/id/blog/sustainable-banking-assessment-2023.
You, X., Can, C., Ke, P., & Yubin, L. (2025). ESG Disclosure Quality and Cost of Debt. Emerging Markets Review, 64(c). DOI: 10.1016/j.ememar.2024.101219 https://ideas.repec.org/a/eee/ememar/v64y2025ics1566014124001146.html