CLASSIFICATION SAK UMUM SAK EMKM SAK ETAP

Purpose of Financial (similar) Based on this standard, Based on this standard,

Statement the purpose of the the purpose of the
financial statement financial statement
itself is to provide the itself is to provide the
information regarding information regarding
to the financial to the financial position
position and also the and also the entity’s
entity’s performance performance as well.
as well. This This information will be
information will be valuable for economic
valuable for economic decision making and to
decision making and to the external users of
the external users of financial statements,
financial statements, such as creditors and
such as creditors and investors.
investors.

Entities Using The The entities that are The entities that are This standard are used
Standards using the common using this standard are by the entities that are
standard of accounting micro, small, middle not significantly owned
or known as PSAK, are entities. Micro, small, the public
those that are profit- middle scale entities accountability and also
oriented entities. are those that are not able to published the
Usually, the usage of significantly owned the financial statements
the financial statement public accountability. publicly for general
by these profit-oriented (As defined in the SAK purposes, especially for
entities are mostly used ETAP) the external users of
for by the public the report.
stakeholders. On the other hand, this
standard also can be However, if there is an
used for the entities entity that have a
that are not fulfilling significant public
the requirements of accountability, for
micro, small, middle example, an entity that
entities, as long as they already listed in a stock
got the permission market and a
from the authorities to capital/financial
arrange the financial institutions. It is still
statement based on able to apply the SAK
SAK EMKM. ETAP as long as it got
the permission from
the authorities

Components Of -Statement of Financial -Statement of Financial -Statement of Financial

Financial Statements Position Position Position

-Statement of profit or -Statement of profit or -Statement of profit or

loss, other loss, OCI loss, other
comprehensive comprehensive income
-Statement of changes -Statement of changes
 in equity in equity -Statement of changes
in equity
-Statement of cash flow -Statement of cash
flow -Statement of cash flow
-Description of
accounting policies; -notes to financial
notes to financial statement
statement

Inventory Initial Recognition: The Initial Recognition: Initial Recognition:

entity measured the The entity will The entity will
inventory based on the recognize its inventory recognize its inventory
LCNRV method. when they already when they acquired the
acquired the inventory inventory on their
Measurment: The entity on their hand, based hand, based on its
measured the inventory on its acquisition cost. acquisition cost.
based on allowed
methods such as FIFO Measurment: Measurment:
or weighted average, in The entity measured The entity measured
order to determine the the inventory based on the inventory based on
inventory’s acquisition allowed methods such the LCNRV method.
cost. as FIFO or weighted
average, in order to Subsequent
Subsequent determine the Measurment:
Measurment: The inventory’s acquisition Several inventories can
inventory that are sold cost. be allocated to the
will be recognized as an other assets. For
expense in when the Subsequent instance, fixed assets.
sales revenue is Measurment: This allocation of
occurred. Or, the entity The inventory that are inventory will be
may do to write-down sold will be recognized recognized as an
their inventories by as an expense in when expense based on the
LCNRV. the sales revenue is asset’s economic life.
occurred. Or, the entity
may do to write-down
their inventories by
LCNRV.

PPE -PPE is measured -The entity measured - Entity must measured

initially at cost. (Cost all of the fixed assets, its fixed assets by
includes the fair value except for land. It calculating the
of consideration given measured the fixed difference between
to acquire the asset and assets by calculating acquisition cost and the
any directly attributable the difference between accumulated
costs.) acquisition cost and depreciation.
the accumulated
-For the depreciation, it depreciation. For land, -Costs incurred for
subtracts the carrying it measured through its preserving the fixed
value and the residual acquisition cost. assets will be treated as
value. It is depreciated an expense.
based on its economic -Costs incurred for
 life.
-PPE’s treatment can be
done through the cost
model (historical cost-
accumulated
depreciation) or
revalued amount less
accumulated
depreciation (the
revaluation model)
-Recognize
capitalization to the
items that are related
to the PPE, as long as
those items could meet
recognition criteria.
Investment Property -Investment property is
initially measured at its
acquisition cost.
-For the subsequent
measurement, the
entity can do it through
fair value or by cost.
-Transfer to or from
investment property is
still allowed. If there is
an evidence of change
in use. An only change
in intention is not
enough to support the
transfer.
Intangible Asset -Separately acquired
intangible assets are
initially recognised at its
cost.
-After the initial
recognition, the entity
preserving the fixed -Based on this
assets will be treated standard, the entity will
as an expense. do a calculation of
surplus of fixed assets’
-The entity will not revaluation.
recognized the
decreasing value of the -The amount of
fixed assets (both for revaluation surplus can
building and land). be moved directly to
the retained earnings’
balance, in which the
recognition of the
assets is discontinued.
(the book does not -During the initial
cover the parts of recognition, investment
investment property) property will be
measured at its
acquisition cost.
-After the initial
recognition, the entity
must measure its
property based on the
difference between the
acquisition cost and the
accumulated
depreciation.
-An entity should be
able to transfer its
property to become
investment property, if
the property is fulfilling
the standards
requirement of
investment property, or
vice versa.
-The entity measured -The entity measured
the separately the acquired intangible
acquired intangible assets based on its
assets by treated it as a acquisition cost.
prepaid expenses.
-After the initial
-After the initial recognition, the entity
 measured the recognition, the entity measured the
intangible assets by measured the intangible assets by
subtracting the intangible assets by subtracting the
acquisition cost and the subtracting the acquisition cost and the
accumulated acquisition cost and accumulated
amortization. the accumulated amortization.
(indefinite useful life) amortization.
-Entity must use the fair
-If the intangible assets -The entity does not value method to
have a finite useful recognize the estimate whether there
lives, it needs to decreasing value of will be economic
considered its intangible assets. benefit in the future.
impairment if there is
an indication of the
asset being imapired.

Investment in Debt -During the acquisition, -The entity will -During the acquisition,
Securities the entity must classify recognize its financial the entity must classify
its bonds payable as
liabilities if only they its bonds payable as
held to maturity, trading,
and held for collection got involved in held to maturity,
or sale. contractual of trading, and held for
respective financial collection or sale.
-If the entity classified assets or liabilities, the
the bonds investment as measurement is based -If the entity classified
held for collection and
on its acquisition cost. the bonds investment
sale or trading, it should
do a fair value as held for collection
adjustment. (held to -The acquisition cost of and sale or trading, it
maturity investments debt securities then should do a fair value
are measured based on measured in adjustment.
its amortised cost; accordance with the
effective interest
transaction price. In -The entity must
method)
the end of the period, disclose the the
-The initial the transaction cost amount of premium or
measurement is must be subtracted discount accumulated
conducted at the fair with the cash amortization, and the
value, which is the payments or interest realized/unrealized gain
transaction price
expenses. as well.

-Entity does not

recognize the fair value
adjustment of bonds,
but, if the entity is
under the supervision
of OJK, will be able to
do so.

Post-Eployment -Includes pensions, Not regulated -Employment benefit

Benefit post-employment life given after a worker
insurance, and medical finish his or her  year of
care service
 -Provided to employees -Includes pension
either through: benefit, life insurance
and post-employment
Defined Contribution healthcare
Plan
The cost is the -In defined contribution
contribution payable by program, entity must
the employer for that recognize the payable
accounting period contribution for the
current period as
Defined Benefit Plans obligation after
Actuarial assumptions deducted by the
and valuation methods amount that have been
are required to paid.
measure the balance
sheet obligation & -In defined benefit
expense program, entity
recognize the
obligation that occur in
the program and
recognize the net
changes in that
obligation

Revenue -Is measured at the fair -Revenue is recognized -Entity must measure
value of the when there’s a right to revenue based on the
consideration received payment received or fair value of the
or receivable receivables in present payment received or
time or in the future. the receivables. The far
-Revenue from sale of value doesn’t include
goods is recognised -Entity must issue from sales discount.
when an entity transfer revenue the values
significant risk and that belong to third -Entity must include in
reward of ownership. party revenue, the economic
benefit received or
-Revenue form -Entity can recognize gross receivable
rendering of a service is revenue from sales or
recognised when the service when it has -Entity must issue from
outcome of the been given to the revenue the values that
transaction can be customers belong to third party
estimated reliably

Long-Term Liabilities Not regulated -Entity classify all -The initial recognition
liabilities as Long Term of the liabilities are the
if it doesn’t expected best estimated result of
to be finished in a expenses that are
normal time cycle of needed to finish its
the entity’s operation current liabilities on the
reporting date.
-If it isn’t for sale
-The entity recognizes
 -The paying obligation the liability in the
is in a time period of balance sheet and
more than 12 months recognizes the amount
of the liability as an
expense in the income
statement

Investment in Equity -PSAK 71: Financial -At initial recognition, At the time of
Instruments use transaction price acquisition, entity must
clarify the equity into
-Fair value through -At subsequent one of these groups:
profit or loss recognition, use held to maturity,
transaction price trading, available for
-Fair Value Through sale.
other comprehensive -At derecognition, use
income disposal, any gain or
loss recognized in
profit or loss

Lease -Principle based Not Regulated - classified based on

substance over form
-Requires judgement
whether there has been -Use indicators with no
transfer of risk or necessary judgement
benefit from lessor to -Capital Lease: rule
lessee base
 Transfer of risk
-PSAK 30 to be replaced and ownership
by PSAK 73  Bargain
purchase
option
 Lease term is
75% or more
than the asset’s
useful life
 Present value
of lease
payment is 90%
or more of
asset’s fair
value
 If not a single
condition is
satisfied, it’s
classified as
operating lease

Income Taxes Recognize deferred tax -Entity will recognize -Entity must recognize
assets or deferred tax asset and income tax obligation on all income
liabilities due to liability by following tax on the current and
temporary difference the applicable tax previous period that
 regulation are unpaid

-Entity will not -If the amount paid on

recognize deferred tax the current and
asset and liabilities previous period exceed
the payable amount for
the current period,
entity must recognize
the exceed amount as
asset

-Entity must separately

disclose the main
components of income
tax payables

Accounting Changes - Accounting policy -Entity recognize the -Entity recognize the
and Error changes only if required effect of accounting effect of accounting
by PSAK and can estimation changes estimation changes
provide more reliable & prospectively by prospectively by
relevant information inputting them in the inputting them in the
profit or loss statement profit or loss statement
-The implementation is only on the period only on the period
as regulated by PSAK when the change when the change
occurs if it only affects occurs if it only affects
-If not regulated, the current period or in the current period or in
implemented the period it occurs the period it occurs and
retrospectively changes and the following the following period if
in accounting period if the changes the changes affect both
implemented affect both
prospectively -If the accounting
-Entity corrects error estimation changes
from previous period alter asset and liability,
by restating theen the entity must
comparative amount recognize it by
for the period where adjusting the amount
the error occurs recorded on the asset,
liability, or equity side
-Or if the error occurs which are involved in
before the earliest the changing period
presentation period,
the beginning balance -Entity corrects error
of asset, liability, and from previous period
equity in the earliest by restating
presentation are comparative amount
restated for the period where
the error occurs

Impairment For Non- -The book value must No Impairment -No value term used
Financial Asset be compared to the and recovered value
value in use and
recoverable amount -If an indication of
impairment is impaired,
-Impairment value is the asset is directly
the amount of book reduced to that value
value difference and
which is higher -Recoverable amount
between the value of only consist of Fair
use and the recoverable Value -cost to sell
value.