Psak 1

PSAK 1 – Penyajian
Laporan Keuangan
Dini Aurelia (01031282328029)

Based on PSAK 31, the mandatory financial reports to be prepared are as
follows:
1. Balance Sheet
2. Income Statement and Other Comprehensive Income
3. Statement of Changes in Equity
4. Cash Flow Statement
5. Notes to the Financial Statements
6. Comparative Information for the Most Recent Prior Period
7. Balance Sheet at the Beginning of the Most Recent Prior Period ->
Retroactive, Errors
GENERAL CHARACTERISTICS OF FINANCIAL STATEMENTS
1. Entities whose financial statements are prepared in compliance with
financial accounting standards.
2. In preparing financial statements, management assesses the entity's
ability to continue as a going concern.
3. Entities prepare financial statements on an accrual basis, except for cash
flow statements.
4. Entities present each class of similar material items separately and present
items that have dissimilar nature and function separately, except when
they are not material.
5. Reporting frequency is at least annually; if the reporting period is longer or
shorter than one year, disclosure must be provided.
6. Presentation and classification should be consistent unless there is a
change in facts, entity operations, or such change is required by a PSAK
(Indonesian Financial Accounting Standards).
COMPARATIVE INFORMATION
*Entities may present comparative information as an addition, as
long as that information is prepared in accordance with
PSAK/ISAK.
• Comparative information consists of one or more financial
statements but not a complete set of financial statements.
• Entities are not required to present all financial statements as
additional comparatives.
• Entities are required to present, in the notes to the financial
statements, comparative information related to additional
statements.
ACCOUNTING POLICY CHANGES, RESTATEMENT,
RETROSPECTIVE APPLICATION, OR RECLASSIFICATION
• Entities present a third balance sheet at the beginning of the nearest prior
period as an additional minimum comparative financial statement if:
a) The entity applies an accounting policy retrospectively, restates prior
period presentation, or reclassifies items in the financial statements; and
b) The retrospective application, restatement, or reclassification has a
material impact on the information in the balance sheet at the beginning
of the previous period.
ACCOUNTING POLICY CHANGES, RESTATEMENT,
RETROSPECTIVE APPLICATION, OR RECLASSIFICATION
• Entities present three balance sheets as follows:

a) At the end of the current period;
b) At the end of the prior period; and
c) At the beginning of the period.
• If an entity changes its presentation or classification, it discloses the

nature, amount, and reason for the reclassification.
STRUCTURE AND CONTENT OF FINANCIAL STATEMENTS
Identification of Financial Statements
• Entities clearly identify financial statements and distinguish them from

other information in the same publication.
• Present the following information:
- Entity's name and reporting period
- Whether the statement is individual or consolidated
- End date of the period or the period covered
- Reporting currency
- Rounding used
FINANCIAL POSITION STATEMENT
• The minimum information presented in the financial statement can be
supplemented if such additions are relevant.
• Presentation in a separate line or in the notes depends on the materiality
of the information.
• Additional lines and subtotal titles may be presented if relevant.
FINANCIAL POSITION STATEMENT
• Presentation of current and non-current assets and short-term and long-
term liabilities as separate classifications, except when presentation based
on liquidity provides more relevant and reliable information, in which case
liquidity order is used.
(Deferred taxes cannot be classified as short-term)
• Differentiation between current and non-current is based on realization or
use (assets) and settlement of obligations (liabilities) within one year."
SHORT-TERM ASSETS AND LIABILITIES
• Classification of current assets, if:
- Expecting to realize the asset, or intends to sell or use it, in the normal
course of business;
- Holding the asset for trading purposes;
- Expecting to realize the asset within 12 months after the reporting period;
or
- Cash or cash equivalents, except when the use of such cash or cash
equivalents is for settling liabilities at least 12 months after the
reporting period.
SHORT-TERM ASSETS AND LIABILITIES
• Entities classify assets not falling into the above categories as non-current assets.
• Classification of short-term liabilities, if:
- Anticipating to settle the liability in its normal operating cycle;
- Holding the liability for trading purposes;
- The liability is due to be settled within 12 months after the reporting period; or
- Lacks an unconditional right to defer the settlement of the liability for at least 12
months after the reporting period.
• Entities classify liabilities not falling into the above categories as long-term
liabilities.
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PSAK 1 – Penyajian

Dini Aurelia (01031282328029)

• Entities present three balance sheets as follows:

• If an entity changes its presentation or classification, it discloses the

• Entities clearly identify financial statements and distinguish them from

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