Group 5

Nyimas Shafira Ramadhanty (1607531075)

Dewa Ayu Sri Adnya Dewi (1607531104)

PSAK 18: Accounting and Reporting of Retirement

(Purnakarya) Benefit Program
The retirement benefit program is sometimes also known as pension programs, old
age benefits, retirement programs, and retirement programs. This statement considers the
retirement benefit program as a reporting entity that is separate from the employer who is
also a participant in the retirement program. The retirement benefits program can be defined
as contributions or defined benefit programs. In a retirement benefit program held as a
separate program fund, this program must be in accordance with the applicable laws and
regulations.
Retirement benefit program is an agreement for each entity that provides retirement
benefits to employees at the time of or after stopping work (either in the form of monthly
contributions or lump sums), or subsequent contributions to employees, can be estimated
before the workshops based on the provisions in the document or practice entity. Some
retirement benefit programs provide separate funds for contributions that are formed and for
benefits paid. The funds are managed by parties who act independently in the management of
funding assets commonly referred to as trustees. The retirement benefit program is usually
described as either a fixed budget program or a defined benefit program. Disclosure of the
financial statements of the retirement benefit plan in the form of defined benefits or defined
contributions, contains information such as the following: a report on changes in net assets
available for retirement benefits, a summary of significant accounting policies, and an
explanation of the retirement program and the effect of each retirement program during the
period. An investment in a retirement benefit program must be recognized at fair value. In the
case of traded securities, the fair value is market value.
The defined contribution program is a retirement benefit program where the amount
paid as a retirement benefit is determined based on contributions to a fund along with
subsequent investment income. The financial statements of the defined contribution plan
contain reports of available net assets for retirement benefits and an explanation of funding
policies. The purpose of reporting a defined contribution program is to provide periodic
information about the implementation of the retirement program and the performance of its
investments.
The defined benefit program is a retirement benefit program whereby the amount paid
as a retirement benefit is determined by reference to a formula which is usually based on
employee income and / or years of service. The financial statements of a defined benefit plan
consist of available net assets for retirement benefits, the present value of actuarial for the
promised retirement benefits that distinguishes between vested benefits and non-vested
benefits, surplus or deficit. The purpose of this report is to provide periodic information about
financial resources and activities from retirement benefit programs that are useful for
assessing relationships between accumulated resources and program benefits over a period of
time.

Question: In a retirement benefit program, it requires the help of an actuary, if the actuary's
assessment has not been presented at the date of reporting, then what is the basis for
preparing the financial report in question?