Assurance Publications
September 2024
IFRS and Indonesian GAAP (IFAS) Similarities and Differences
This publication provides a summary of the key differences between the Indonesian Financial Accounting Standards (IFAS) and the International Financial Reporting Standards (IFRS Accounting Standards) that are required for annual reporting periods beginning on 1 January 2024.
July 2024
A Practical Guide to the New and Revised Indonesian Financial Standards for 2024
February 2024
PT Indonesia - Illustrative PSAK consolidated financial statements
This publication presents the sample annual financial report of a fictional non-listed company, PT Indonesia. It illustrates the financial reporting requirements that would apply to such a company under Indonesian Financial Accounting Standards effective as at 1 January 2023.
February 2024
PT Indonesia Tbk and Subsdiaries - Illustrative PSAK consolidated financial statements
This publication presents the sample annual financial report of a fictional listed company, PT Indonesia. It illustrates the financial reporting requirements that would apply to such a company under Indonesian Financial Accounting Standards effective as at 1 January 2023.
January 2024
Transparency Report 2023
Welcome to PwC Indonesia 2023 Transparency Report which serves as a testament to our commitment to open and honest communication in building trust, by providing clear and comprehensive insights into our policies, systems and processes for ensuring quality. The report also includes the results of key quality monitoring programmes, reviews performed and the way we foster a culture of quality at every level of the firm.
November 2023
IFRS and Indonesian GAAP (IFAS) Similarities and Differences
This publication provides a summary of the key differences between the Indonesian Financial Accounting Standards (IFAS) and the International Financial Reporting Standards (IFRS Accounting Standards) that are required for annual reporting periods beginning on 1 January 2023.
November 2023
PSAK Pocket Guide 2023
disclosure requirements under those standards.
September 2023
A Practical Guide to the New and Revised Indonesian Financial Standards for 2023
December 2022
Transparency Report 2022: A conversation on transparency, quality and value
This report is PwC Indonesia's second transparency report in which we share what we’re doing and how we plan to build on the trust and confidence that our clients already have in our assurance services.
December 2022
PT Indonesia - Illustrative PSAK consolidated financial statements
October 2022
PSAK Pocket Guide 2022
September 2022
IFRS and Indonesian GAAP (IFAS) Similarities and Differences 2022
September 2022
A Practical Guide to the New and Revised Indonesian Financial Standards for 2022
This publication is a practical guide to the new, revised and amended Indonesian Financial Accounting Standards (“IFAS”), which come into effect in 2022. It contains an overview of the changes in reporting requirements, which may then be useful for the entities’ future reporting periods by gaining sufficient familiarity with those standards first.
June 2022
Guidance on the carbon tax under the Harmonisation of Tax Regulation Law
This practical guide is designed to help financial reporters in understanding and
implementing the carbon tax scheme in Indonesia under the HPP Law, including the financial reporting implication.
December 2021
PT Indonesia Tbk dan entitas anak 2021/ PT Indonesia Tbk and subsidiaries 2021
This publication provides an illustrative set of consolidated financial statements, prepared in accordance with Indonesian Financial Accounting Standards (“IFAS”) as issued by Indonesian Financial Accounting Standards Board (“the Board”) and best practices in the market, for a listed company.
December 2021
Guidance on the Supplier Financing Arrangements
November 2021
Transparency Report 2021: A conversation on transparency, quality and value
This report is PwC Indonesia's second transparency report in which we share what we’re doing and how we plan to build on the trust and confidence that our clients already have in our assurance services.
August 2021
A Practical Guide to the New and Revised Indonesian Financial Standards for 2021
This publication is a practical guide to the new, revised and amended Indonesian Financial Accounting Standards (“IFAS”), which come into effect in 2021. It contains an overview of the changes in reporting requirements, which may then be useful for the entities’ future reporting periods by gaining sufficient familiarity with those standards first.
December 2020
PSAK Pocket Guide 2020
November 2020
IFRS and Indonesian GAAP (IFAS) Similarities and Differences
November 2020
A Practical Guide to the New and Revised Indonesian Financial Standards for 2020
This publication is a practical guide to the new, revised and amended Indonesian Financial Accounting Standards (“IFAS”), which come into effect in 2020. We have listed the most important changes in reporting requirements, helping companies understand what should be applied now and what changes will apply to future reporting periods.
This year marks the important milestone for IFAS reporters since the three major accounting standards (PSAK 71, ‘Financial Instruments’, PSAK 72, ‘Revenue from Contracts with Customers’ and PSAK 73, ‘Leases’) have become effective as of 1 January 2020.
November 2020
State of Readiness - PSAK 71-73 Implementation
Starting January 1, 2020, three new accounting standards for “Financial instruments” (PSAK 71), “Revenue from contracts with customers” (PSAK 72) and “Leases” (PSAK 73), known as the “Big 3 Standards”, are required to be applied by companies reporting under Indonesian financial accounting standards.
August 2020
Indonesia CFO Survey 2020: Robotic Process Automation for Finance Function in Indonesia
Our first Robotic Process Automation survey to 54 CFOs in Indonesia on how finance functions are leveraging robotic process automation to digitise their day to day activities.
June 2020
Accounting Technical Alert - June 2020
On 31 March 2020, the government issued Perpu 1/2020 (“the Regulation”), which articulated its policy on maintaining the stability of state finances and the financial system in light of the Covid-19 pandemic and other threats that might endanger the national economy.
November 2019 (Rev.2020)
Guidance on the New Big-3 Standards: Real Estate Sector (Rev.2020)
This publication reflects the implementation developments and provides guidance on the application of the new standards (PSAK 71, PSAK 72 and PSAK 73) specifically for the real estate industry, including updates on land right issued in November 2020.
November 2019
Guidance on the New Leases Standard: Banking & Capital Markets Sector
This publication reflects the implementation developments and provides guidance on the application of the new leasing standard (PSAK 73) specific for the Banking & Capital Markets sector.
November 2019
Guidance on the New Big-3 Standards: Transportation and Logistics Sector
This publication reflects the implementation developments and provides guidance on the application of the new standards (PSAK 71, PSAK 72 and PSAK 73) specific to the transportation and logistics industry.
November 2019
Guidance on the New Big-3 Standards: Telecommunications Sector
This publication reflects the implementation developments and provides guidance on the application of the new standards (PSAK 71, PSAK 72 and PSAK 73) specific to the telecommunications industry.
November 2019
Guidance on the New Big-3 Standards: Technology Sector
This publication reflects the implementation developments and provides guidance on the application of the new standards (PSAK 71, PSAK 72 and PSAK 73) specific to the technology industry.
September 2019
Guidance on the New Big-3 Standards: Retail and Consumer Sector
This publication reflects the implementation developments and provides guidance on the application of the new standards (PSAK 71, PSAK 72 and PSAK 73) specifically for the retail and consumer industry.
June 2019
A Practical Guide to the New and Revised Indonesian Financial Accounting Standards for 2019
This publication is a practical guide to the new, revised and amended Indonesian Financial Accounting Standards ("IFAS") which come to effect in 2019.
April 2019
PSAK 73 - Leases : A new era for lease accounting
In 2017 the Indonesian Financial Accounting Standards Board (DSAK-IAI) issued PSAK 73, ‘Leases’, and thereby started a new era of lease accounting for lessees. Whereas, under the previous guidance in PSAK 30, Leases, a lessee had to make a distinction between a finance lease (on balance sheet) and an operating lease (off balance sheet), the new model requires the lessee to recognise almost all lease contracts on the balance sheet; the only optional exemptions are for certain short-term leases and leases of low-value assets. For lessees that have entered into contracts classified as operating leases under PSAK 30, this could have a huge impact on the financial statements. This publication summarises the significant changes that PSAK 73 requires.
April 2019
PSAK 72 - Revenue from contracts with customers: A comprehensive look at the new revenue model
On 26 July 2017, the DSAK-IAI issued PSAK 72, a new standard for revenue recognition. PSAK 72 is adapted from IFRS 15 Revenue from Contracts with Customers. Almost all entities will be affected to some extent by the significant increase in required disclosures, but the changes extend beyond disclosures, and the effect on entities will vary depending on industry and current accounting practices. Entities will need to consider changes that might be necessary to information technology systems, processes, and internal controls to capture new data and address changes in financial reporting. This edition of In depth summarises the new revenue recognition model.
April 2019
PSAK 71 - Financial Instruments: Understanding the basics
The new standards for revenue and leases are not the only new standards to worry about for 2020—there is PSAK 71, Financial Instruments, to consider as well. Contrary to widespread belief, PSAK 71 affects more than just financial institutions. Any entity could incur significant changes to its financial reporting as the result of this standard, especially those with long-term loans, equity investments, or any non-vanilla financial assets. It might even be the case for those only holding short-term receivables. It all depends. This publication summarises the more significant changes that PSAK 71 introduces (other than hedging), explains the new requirements and provides our observations on their practical implications.
April 2019
IFRS/ IFAS News - April 2019
In this latest issue of IFRS/IFAS News, we report on the latest updates in IFRS 17 implementation proposed by the IASB in its February 2019 meeting; the new definition of a business, which promises to impact the pharmaceutical and life sciences industry in particular; and additional guidance on assessing whether contract manufacturing arrangements may contain an embedded lease. Please contact our accounting advisory specialists to discuss further.
January 2019
PT Indonesia Tbk dan Entitas anak 2018/ PT Indonesia Tbk and Subsidiaries 2018
This publication provides an illustrative set of consolidated financial statements, prepared in accordance with Indonesian Financial Accounting Standards (“IFAS”) and best practices in the market for a listed company. SFAS 1, “Presentation of Financial Statements”, prescribes the basis for the presentation of general purpose financial statements to ensure compatibility both with the financial statements of previous periods and the financial statements of other entities. The standards also set out the requirements for the presentation of financial statements, financial reporting structure, and the minimum content for the financial statements. The financial report of PT Indonesia Tbk and subsidiaries contains a complete set of financial statements. These consolidated financial statements include the disclosures required by the IFAS applicable in 2018. The example disclosures in these illustrative consolidated financial statements should not be considered to be the only acceptable form of presentation. The form and content of the reporting entity’s financial statements are the responsibility of the entity’s management. Other forms of presentation which are equally acceptable may be preferred and adopted, provided they include the specific disclosures prescribed by the IFAS and the Indonesian Financial Services Authority (“OJK”)."
October 2018
PSAK Pocket Guide 2018
This pocket guide provides a summary of the recognition, measurement and presentation requirements of Indonesian financial accounting standards (PSAK) applicable for financial statements for periods beginning on or after 1 January 2018, unless otherwise indicated. It does not address in detail the disclosure requirements under those standards.
The information in this guide is arranged in five sections:
- Accounting rules and principles
- Balance sheet and related notes
- Consolidated and separate financial statements
- Other subjects
- Industry-specific topics.
June 2018
IFRS and Indonesian GAAP (IFAS) Similarities and Differences 2018
This publication provides a summary of the key differences between the Indonesian Financial Accounting Standards (IFAS or PSAK) and the International Financial Reporting Standards (IFRS) that are required for annual reporting periods beginning on 1 January 2018.
May 2018
IFRS/ IFAS News - May 2018
In this issue, we discuss the impact of IFRS 9, 15, 16 and 17 to your business and how the amendment to IAS 1 affects you.
May 2018
A Practical Guide to the New and Revised Indonesian Financial Accounting Standards for 2018
This publication is a practical guide to the revised Indonesian Financial Accounting Standards (“IFAS”) and new interpretation which comes into effect in 2018. In order to further align IFAS with global standards, the Indonesian Financial Accounting Standards Board (“DSAK-IAI”) has amended several existing standards, containing amendments and annual improvement projects and introduces new Standards & Interpretations.
March 2018
IFRS/IFAS News - March 2018
In this issue, we discuss amendments to IFRS 19, impairment of intercompany loans in separate financial statements, and issuance of ISAK 34.
February 2018
IFRS News - February 2018
In this issue, we will discuss about amendments to IFRS 9 and IFRS IC decision on interest and penalties related to income taxes. However, we would like to draw your attention the fact that these publications should be used together with the standards and interpretations and are not to be considered as the only reference in understanding the standards and interpretations. While every effort has been made to ensure accuracy, this publication is not comprehensive and information may have been omitted which may be relevant to a particular user.
December 2017
PT Indonesia Tbk dan entitas anak 2017/ PT Indonesia Tbk and subsidiaries 2017
This publication provides an illustrative set of consolidated financial statements, prepared in accordance with Indonesian Financial Accounting Standards (“IFAS”) and best practices in the market for a listed company. SFAS 1, “Presentation of Financial Statements”, prescribes the basis for the presentation of general purpose financial statements to ensure compatibility both with the financial statements of previous periods and the financial statements of other entities. The standards also set out the requirements for the presentation of financial statements, financial reporting structure, and the minimum content for the financial statements. The financial report of PT Indonesia Tbk and subsidiaries contains a complete set of financial statements. These consolidated financial statements include the disclosures required by the IFAS applicable in 2017. The example disclosures in these illustrative consolidated financial statements should not be considered to be the only acceptable form of presentation. The form and content of the reporting entity’s financial statements are the responsibility of the entity’s management. Other forms of presentation which are equally acceptable may be preferred and adopted, provided they include the specific disclosures prescribed by the IFAS and the Indonesian Financial Services Authority (“OJK”).
December 2017
IFRS and Indonesian GAAP (IFAS) Similarities and Differences
This publication provides a summary of the key differences between the Indonesian Financial Accounting Standards (“IFAS” or “PSAK”) and the International Financial Reporting Standards (“IFRS”) that are required for annual reporting periods beginning on 1 January 2017.
December 2017
PSAK Pocket Guide 2017
This pocket guide provides a summary of the recognition, measurement and presentation requirements of Indonesia’s financial accounting standards (“PSAK”) applicable for financial statements beginning on or after 1 January 2017, unless otherwise indicated. It does not address in detail the disclosure requirements under those standards.
The information in this guide is arranged in below sections:
- Accounting rules and principles.
- Balance sheet and related notes.
- Consolidated and separate financial statements.
- Other subjects.
- Industry-specific topics
December 2017
A Practical Guide to the New and Revised Indonesian Financial Accounting Standards for 2017
We have published a practical guide to applying the new standards and interpretations that have come into effect in 2017. The Board has published a number of new standards, interpretations, and amendments to existing requirements arising from the 2016 annual improvements project.
December 2017
Series of Publications on PSAK 72 "Revenue from contracts with customers"
This publication series provides a brief discussion of the Five-Step Model introduced by PSAK 72 and other significant changes that may affect the accounting policies adopted for reporting under PSAK. This series also creates awareness of the new standards, how they affect your business, and serves as a preliminary guidance to assess the impact of the standards on your business.
PSAK 72 Placemat - A Summary of Key Changes and Impacts
December 2017
Series of Publications on PSAK 73 "Leases"
This publication series outlines the difference between the previous and the new standards on leasing and, at the same time, creates an awareness of the impact of the new standard on current lease accounting.This series also creates your awareness of the new standards, how they affect your business, and serves as a preliminary guidance to assess the impact of the standards on your business.
September 2017
Transparency Report: A Conversation on Transparency, Quality, and Value
This report is PwC Indonesia’s first transparency report for our Assurance practice in which we share what we’re doing and how we plan to build on the trust and confidence our clients already have in our assurance services.
March 2017
Key Findings from the Global State of Information Security Survey™ 2017: Indonesian Insights
Cybersecurity incidents are daily news, with ongoing reports of escalating impacts and costs. There is a distinct shift in how organisations are now viewing cybersecurity, with forward-thinking organisations understanding that an investment in cybersecurity and privacy solutions can facilitate business growth and foster innovation.
March 2017
Staying the Course Toward True North: Navigating Disruption
Our survey based on 70 interviews conducted globally found that "Prepared" and "Adaptive" are the key traits that enable Agile Internal Audit Functions to effectively lead in disruptive environment.
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