economic sector is neutral with regard to the valuation treatment to be given to a concrete element is not an adequate approach because it ignores this fundamental
determinant of value Barton 2005. If an asset meets the entire recognition criterion but cannot be measured reliably, relevant information on the asset should
be disclosed in the notes to the financial reports. This information should include the reasons for the inability to measure the asset reliably, the nature and functions
of the asset and its cultural and heritage significance together with the annual costs of maintenancepreservation, where appropriate. To put another words,
consequently when informative statements are elaborated by public entities with this type of goods in their patrimonies they should take into consideration their
specific nature and information be reported separately including physical characteristics, number of visitors, description of their physical conditions,
prevision of maintenance costs and major restoration as well as income and expenditure related to their activity Barton 2000.
C. Sapta Tirta Pablengan Profile
Indonesia, the second largest mega biodiversity country in the world, is famous for its huge and various natural resources wealth, both flora and fauna
Dirawan 2003. This wealth is very potentially paid off for tourist site development. Karanganyar, one of rural areas in Central Java, Indonesia, is one
out of many regions rich of natural resources and historical places, the potential tourist sites. The local government of Karanganyar has been conducting
developments in line with a concept of INTANPARI, Industry; Agriculture; and
Tourism. It is fully supported by the real condition of rich natural based resources lay in this region. No wonder that there are some nature based tourist sites and
historical places in Karanganyar: Tawangmangu hill with its many attractions, Sukuh and Cetho temple areas with the wide tea garden area surrounding them,
Sapta Tirta Pablengan, the source of 7 natural waters, and the magic Jumog waterfall. Therefore, as a local government concentrating in tourism as taking as
much benefit from the tourism sector, it is not surprisingly that Karanganyar local government has been developing those tourist sites assets so far. Moreover,
Karanganyar’s tourism development vision and mission is defined as making Karanganyar region as a round year tourists destination by sustainable tourist sites
developing to increase public and local government own revenue Disparta Karanganyar 2001. Sapta Tirta Pablengan is located on the highway of
Karangpandan-Giribangun, the burial place of the former president Soeharto. It is about twenty kilometer from Solo city. This area is cool and surrounded by a great
charming view of pines forest and Lawu mountain. Among some historical tourist sites stated above, the only one owned by the
local government is Sapta Tirta Pablengan for its one hundred percent capital is owned by Karanganyar local government Disparta Karanganyar 2001. There
have been some improvements and developments made by Karanganyar local government up to these days. Furthermore, some amounts of fund has been
budgeted for Sapta Tirta Pablengan conservation and development. Dinas Pariwisata dan Budaya local department of tourism and culture is the local
governmental unit in Karanganyar being responsible for managing the fund budgeted from the local government budget.
Up to these days, Sapta Tirta Pablengan is temporary full of tourists charged on only three thousands rupiahs as the entrance ticket. They especially would like
to make a visit to the Javanese kings’ and ancestors’ burial places in the slope of Mount Lawu. They like to wash their bodies up by taking a bath in the Pemandian
Keputren as a symbol of cleaning up their souls before going up for such a spiritual journey. Data in DP2KAD Karanganyar Local department of asset and
financial management indicates that in 2008, the local government of Karanganyar made a target of five million rupiahs for Sapta Tirta Pablengan
income. Surprisingly it reached twelve million rupiahs. Another fact says that tourists visit number to Sapta Tirta Pablengan tends to increase every year since
2000 up to 2008 Disparta Karanganyar 2008. See appendix II. Some people also come to Sapta Tirta Pablengan for a meditation purpose.
Just like the former ones, they will do the same thing before having on their meditation. Another magic and admiring part of Sapta Tirta Pablengan is its seven
natural water resources. These seven natural water resources are different. It means that each natural water resource containing different kind of water. There
are seven different kinds of the natural water resources, firstly, water resource of Bleng. it is a kind of ingredient for krupuk karak making, a traditional typical rice
chips in Karanganyar. Some krupuk karak producers in Karanganyar and other regions often come for the water. Secondly, water resource of life. This water is
believed to give a strength and healthiness for human bodies. Thirdly is warm
water source. It is believed to cure all kinds of skin diseases. Fourthly is water source of death. This water is always constant and silent. Water source of soda is
the fifth type. It contains a taste of natural soda. Fifthly is the water source of urus-urus that is used to cure diarrhea. Sixthly, the last one, is water source of
supernatural powers making any one drinking the water will be invulnerable to any sharp weapons Disparta Karanganyar 2008.
D. Conceptual Framework
