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AGENDA

BIG BANG IN THE • The Pillars of Accounting Standards in Indonesia

TRANSITION YEAR OF
Padjadjaran Accounting Week
Graha Sanusi Hardjadinata • Overview of New Standards and interpretations in
ACCOUNTING Universitas Padjadjaran
Bandung, 19th November 2019
2019/2020
• Outlook of Indonesian Accounting Standards 2020-
PAW 19th November 2019
ERSA TRI WAHYUNI, SE, M.Acc, PhD, CA, CPMA, CPSAK 2022
• The Implementation Issues of PSAK 71, 72 73 in other
countries
All information in this presentation material is solely the opinion of the presenter and does not represent
the formal position of Indonesian Financial Accounting Standard Board (DSAK-IAI). Any decision or
position of DSAK-IAI is taken through a proper due process procedure.
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SOME IMPORTANT TERMINOLOGIES IFRS ADOPTION PATTERN IN INDONESIA

SAK : Standar Akuntansi Keuangan • Since 2008, IFRS is the main reference for developing SAK
• PSAK, (Accounting Standard) • But SAK is not IFRS, And it is definitely not the Bahasa Indonesian version of IFRS
IFRS Adoption Process
• ISAK, (Interpretation) • The mandatory application gap between IFRS and SAK is 0-2 years.
• PSAK Syariah, and IFRS and IAS are adopted in to • Some of standards and interpretations in our SAK are not from IFRS. DSAK-IAI holds its
• The regulation of capital market regulator for the PSAK rights to develop standards if the Board believe it is necessary for Indonesian
entities under their supervision. circumstances or because such transactions are not within IFRS scope
IFRIC and SIC are adopted in to
IFRS : International Financial Reporting ISAK • Some of IFRS are not adopted in to SAK because they are not relevant for
Standars Indonesia’s business environment.
• IFRS • This adoption pattern provides disadvantages and benefits to Indonesia.
• IAS
• IFRIC
• SIC
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SAK PILLARS in INDONESIA

NEW PILLAR SOON?
• On December 2018, during its quadrennial congress, DSAK IAI decided to create a
new pillar which is “SAK Internasional”
SAK IFRS based
SAK UMUM

• When will it be issued and can be applied, has not been decided yet.
SAK ETAP

UMUM
entities with no
EMKM

SAK public • Those who can choose to apply it need to get permission of Indonesian FSA (OJK).
SAK

ETAP accountability More likely it will be for Indonesian dual-listed companies, multinational companies,
micro, small and foreign subsidiaries.
SAK & medium
entities • When this pillar is effective, Indonesia will have 4 pillars instead of three.
EMKM*

SAK SYARIAH SAK Sharia based

transactions
SYARIAH

* The Latest pillar introduced by DSAK IAI on 24 October 2016,

effective 1 January 2018.
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THE LIST OF NON IFRS STANDARDS IN SAK 2019

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1. PSAK 28: Akuntansi Kontrak Asuransi Kerugian*;  PSAK 74

THE OVERVIEW OF NEW

2. PSAK 36: Akuntansi Kontrak Asuransi Jiwa*;  PSAK 74
3. PSAK 38: Akuntansi Restrukturisasi Entitas Sepengendali;

SAK
4. PSAK 44 Akuntansi Aktivitas Pengembangan Real Estate* 
PSAK 72
5. PSAK 45: Pelaporan Keuangan Entitas Nirlaba*;  ISAK 35
6. PSAK 70 : Aset dan Liabilitas Pengampunan Pajak
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7. ISAK 25: Hak atas Tanah*  Dicabut bersama PSAK 73
8. ISAK 31: Interpretasi atas ruang lingkup PSAK 13: Properti
Investasi
9. ISAK 32 : Definisi dan Hierarki Standar Akuntansi Keuangan
10. Plus PSAK-PSAK Syariah

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IFRS WHICH ARE NOT ADOPTD IN TO NEW IFRS AND ITS ADOPTION STATUS
SAK 2019
New IFRS

• IFRS 1 First Time Adoption of IFRS,

• IFRS 14 Regulatory Deferral Accounts,
• IFRIC 2 Members’ Share in Co-operative Entities and Similar
Instruments,
• IFRIC 6 Liabilities arising from Participating in a Specific
Market – Water electrical and Electronic Equipment dan
• SIC 7 Introduction of Euro
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• IFRS 9 Financial Instruments (1 January 2018)  PSAK 71 (1 Jan 2020)
• IFRS 14 Regulatory Deferral Accounts (efektif 1 January 2016)– Not adopted
• IFRS 15 Revenue from Contracts with Customers (1 January 2018)– PSAK 72 (
1 Jan 2020)
• IFRS 16 Leases (1 January 2019)– PSAK 73 (1 Jan 2020)
• IFRS 17 Insurance Contract (1 January 2021/2022) – ED PSAK 74 (No
mandatory year yet)
• IFRIC 22 Foreign Currency Transactions and Advance Transaction (1
January 2018) – ISAK 33 (1 Jan 2019)
• IFRIC 23 Uncertainty over Income Tax Treatment (1 January 2019) – ISAK 34
(1 Jan 2019)
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NEW PSAK 2018-2020 AMMENDMENT PSAK 2019

Ratified in 26 Juni 2019
• PSAK 69 Agrikultur (1 Jan 2018) • Amandemen PSAK 1 : Definisi Material (1 Jan 2020)
• PSAK 71 Instrumen Keuangan (1 Jan 2020) • Amandemen PSAK 25 : Definisi Material ( 1 Jan 2020)
• PSAK 72 Pendapatan dari Kontrak dengan Pelanggan (1 Jan 2020)
• PSAK 73 Sewa (1 Jan 2020) Ratified 31 Juli 2019
• ISAK 33 Transaksi Mata Uang Asing dan Imbalan di Muka (1 Jan 2019) • Amandemen PSAK 22 : Definisi Bisnis (1 Jan 2021)
• ISAK 34 Ketidakpastian dalam Perlakuan Pajak Penghasilan (1 Jan 2019)
• ISAK 35 Penyajian Laporan Keuangan Entitas Berorientasi Nonlaba (1 Jan 2020) --
Replacing its predecessor PSAK 45.

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OUTLOOK SAK 2020-2022
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IN THE AGENDA OF DSAK IAI 2020
• Replacing SAK ETAP with IFRS for SME
• The Adoption of IFRS Conceptual Framework 2018
• SAK Internasional
• New system of IFRS numbering.
• IFRS 17 Insurance Contract
• Actively participated in the international arena and IFRS agenda especially for
BCUCC project (Business Combination Under Common Control)
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OUTLOOK SAK 2020 16

• Four New Standards during 2020

• PSAK 71 Instrumen Keuangan
TRANSITION ISSUES OF
• PSAK 72 Pendapatan dari Kontrak dengan Pelanggan
• PSAK 73 Sewa PSAK 71, 72, 73
• ISAK 35 dan Amandemen PSAK 1 terkait Entitas Nonlaba

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KEY PRINCIPLES OF IFRS 9

PSAK 71 OR IFRS 9 : DELOITTE BANKING SURVEY 2015
Classification and Measurement
• Survey tp 59
• Financial assets are classified based on two logics : banks
accross the
contractual cash flow and company’s business model globe

impairment • 42 IFRS
reporters
• Expected Loss Model

Hedging Accounting
• More flexibility and linked more to real-world risk
management
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PWC INDONESIA’S BANKING SURVEY 2018

DELOITTE BANKING SURVEY 2016 : 91 BANK

Only 1/3 Bank in

Indonesia have
finished impact
analysis PSAK 71.

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Old vs New Standards

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PSAK 23/PSAK 34 PSAK 72
STEPS TO RECOGNISE
Separate models for: Single model for REVENUE
• Construction contracts performance obligations:
• Goods • Satisfied over time
• Services • Satisfied at a point in time

Focus on risk and rewards Focus on control Recognise

Identify the Identify the revenue when
Determine the
contract(s) performance Allocate the (or as) the
transaction
with the obligation in transaction entity satisfies a
Limited guidance on: More guidance: customer the contract
price
performance
• Multiple element Separating elements, allocating the obligation
arrangements transaction price, variable
consideration, licences, options,
• Variable consideration repurchase arrangements
• Licences and so on….

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2019 PWC IFRS 16 POST IMPLEMENTATION

REAL ESTATE APPLYING PSAK 72 OR IFRS 15
SURVEY TO 400 EXECUTIEVES
• Tax
• Survey to real Accounting is
estate companies also very
in 2019, problematic
• Conducted by in Indonesia
Srinlanka Standard as tax rule
Setter and HKCPA about leases
to AOSSG member is very rigid
countries and old

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TRANSITION POLICY OF IFRS 16 FROM

PWC SURVEY

• PSAK 71,72,73 all provide

policy choice in terms of
transition. LIST OF IFRS AND THEIR PSAK
• Fully Retrospective, follow
PSAK 25/IAS 8
• Modified retrospective

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IFRS VS PSAK AS OF JULY 2019
No IFRS PSAK
No IFRS PSAK 1 IFRIC 1 Changes in Existing Decommissioning, ISAK 9 Perubahan atas Liabilitas Purna Operasi,
1 IFRS 1 First-time Adoption of Tidak Diadopsi Restoration and similar liabilities Liabilitas Restorasi & Liabilitas Serupa
International Financial Reporting
Standards
2 IFRIC 2 Members’ Share in Co-operative Entities Tidak diadopsi
2 IFRS 2 Share-Based Payment PSAK 53 Pembayaran Berbasis Saham
3 IFRS 3 Business Combinations PSAK 22 Kombinasi Bisnis
and Similar Instruments
4 IFRS 4 Insurance Contracts PSAK 62 Kontrak Asuransi 3 IFRIC 4 Determining whether an arrangement ISAK 24 Evaluasi Substansi Beberapa Transaksi
5 IFRS 5 Non-current Assets Held for Sale PSAK 58 Aset Tidak Lancar Yang Dimiliki Untuk Dijual contains a Lease yang mengandung Bentuk Legal Sewa
and Discontinued Operations dan Operasi yang Dihentikan 4 IFRIC 5 Rights to Interests arising from Tidak diadopsi
6 IFRS 6 Exploration for and Evaluation PSAK 64 Eksplorasi dan Evaluasi Sumber Daya Decommissioning, Restoration and
of Mineral Resources Mineral Environmental rehabilitation Funds
7 IFRS 7 Financial Instruments : Disclosure PSAK 60 Instrumen Keuangan Pengungkapan 5 IFRIC 6 Liabilities arising from Participating in a Tidak diadopsi
8 IFRS 8 Operating Segments PSAK 5 Segmen Operasi Specific Market – Water electrical and
9 IFRS 9 Financial Instrument – PSAK 71 Instrumen Keuangan Electronic Equipment
10 IFRS 10 Consolidated Financial PSAK 65 Laporan Keuangan Konsolidasian 6 IFRIC 7 Applying the Restatement Approach under ISAK 19 Penerapan Penyajian Kembali dalam
Statements IAS 29 PSAK 63 Pelaporan Keuangan dalam
11 IFRS 11 Joint Arrangements PSAK 66 Pengaturan Bersama Ekonomi Hiperinflasi
12 IFRS 12 Disclosure of Interest in other PSAK 67 Pengungkapan Kepentingan dalam
7 IFRIC 9 Reassessment of Embedded Derivatives ISAK 25 Hak Atas Tanah * (akan dicabut)
Entities Entitas Lain
13 IFRS 13 Fair Value Measurements PSAK 68 Pengukuran Nilai Wajar 8 IFRIC 10 Interim Financial Reporting and Impairment ISAK 17 Laporan Keuangan Interim dan
14 IFRS 14 Regulatory Deferral Accounts NA Tidak diadopsi Penurunan Nilai
15 IFRS 15 Revenue from Contracts with PSAK 72 Pendapatan dari kontrak dengan pelanggan 9 IFRIC 12 Service Concession Arrangements ISAK 16 Perjanjian Konsesi Jasa
Customers
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IFRS16 Leases PSAK 73 Sewa PAW 19th November 2019

17 IFRS 17 Insurance Contract ED PSAK 74 Kontrak Asuransi

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No IFRS PSAK
10 IFRIC 13 Consumer Loyalty Programmes ISAK 10 Program Loyalitas Pelanggan 29 30
No IFRS PSAK
11 IFRIC 14 The Limit on a Defined Benefit Asset, Minimum Funding ISAK 15 Batas Aset Imbalan Pasti, Persyaratan
Requireents and their Interaction Pendanaan Minimum dan Interaksinya 1 IAS 1 Presentation of Financial PSAK 1 Penyajian Laporan Keuangan
Statements
12 IFRIC 15 Agreements for the Construction of Real Estate ISAK 21 Perjanjian Konstruksi Real Estat 2 IAS 2 Inventories PSAK 14 Persediaan
3 IAS 7 Statement of Cash Flows PSAK 2 Laporan Arus Kas
13 IFRIC 16 Hedges of a Net Investment in a Foreign ISAK 13 Lindung Nilai Investasi Neto dalam Kegiatan
Operation Usaha Luar Ngeri 4 IAS 8 Accounting Policies, Changes in PSAK 25 Kebijakan Akuntansi Perubahan estimasi
14 IFRIC 17 Distributions of Non-cash Assets to Owners ISAK 11 Distribusi Aset Nonkas kepada Pemilik Accounting Estimates and Errors Akuntansi, dan Kesalahan
5 IAS 10 Event after the reporting Period PSAK 8 Peristiwa Setelah Akhir Periode Pelaporan
15 IFRIC 18 Transfers of Assets from Customers ISAK 27 Pengalihan Aset dari Pelanggan

IFRIC 19 6 IAS 11 Construction Contracts PSAK 34 Kontrak Konstruksi

16 Extinguishing Financial Liabilities with Equity ISAK 28 Pengakhiran Liabilitas Keuangan dengan
Instruments Instrumen Ekuitas 7 IAS 12 Income Taxes PSAK 46 Pajak Penghasilan
8 IAS 16 Property, Plant and Equipment PSAK 16 Aset Tetap
17 IFRIC 20 Stripping Costs in the ISAK 29 Biaya Pengupasan Lapisan Tanah tahap
Production Phase of a Surface Mining Produksi pada Pertambangan Terbuka, 9 IAS 17 Leases PSAK 30 Sewa
10 IAS 18 Revenue PSAK 23 Pendapatan
18 IFRIC 21 Levies ISAK 31 Pungutan
11 IAS 19 Employee Benefits PSAK 24 Imbalan Kerja
19 IFRIC 22 Foreign Currency Transactions and Advance ISAK 33 Transaksi Valuta Asing dan Imbalan di Muka 12 IAS 20 Accounting for Governance PSAK 61 Akuntansi Hibah Pemerintah dan
Considerations Grants and Disclosure of Pengungkapan Bantuan Pemerintah
Government Assistance
12 IFRIC 23 Uncertainty over Income Tax Treatment ISAK 34 Ketidakpastian dalam Perlakuan Pajak
Penghasilan
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No IFRS PSAK
13 IAS 21 The Effects of Changes in Foreign PSAK 10 Pengaruh Perubahan Nilai Tukar Valuta Asing No IFRS PSAK
Exchange Rates 25 IAS 37 Provisions, Contingent PSAK 57 Provisi, Liabilitas Kontinjensi, dan Aset
14 IAS 23 Borrowing Costs PSAK 26 Biaya Pinjaman Liabilities and Contingent Kontinjensi
Assets
15 IAS 24 Related Party Disclosures PSAK 7 Pengungkapan Pihak Berelasi
26 IAS 38 Intangible Assets PSAK 19 Aset Takberwujud
16 IAS 26 Accounting and Reporting by PSAK 18 Akuntansi dan Pelaporan Program Manfaat 27 IAS 39 PSAK 55 Instrumen keuangan: Pengakuan dan
Financial Instruments:
Retirement Benefit Plans Purna Krya Pengukuran
Recognition and
17 IAS 27 Separate Financial Statement PSAK 4 Laporan Keuangan Tersendiri Measurement
28 IAS 40 Investment Property PSAK 13 Properti Investasi
18 IAS 28 Investment in Associates and joint PSAK 15 Investasi pada Entitas Asosiasi dan Ventura
ventures Bersama 29 IAS 41 Agriculture PSAK 69 Agrikultur
19 IAS 29 Financial Reporting in PSAK 63 Pelaporan Keuangan dalam Ekonomi 30 SIC 7 Introduction of Euro Tidak Diadopsi
Hyperinflationary Economies Hiperinflasi
21 IAS 32 Financial Instruments: Presentation PSAK 50 Instrumen Keuangan Penyajian 31 SIC 10 Government Assistance – No Specific ISAK 18 Bantuan Pemerintah – Tidak Berelasi Spesifik
Relation to Operating Activities dengan Aktiitas Operasi
22 IAS 33 Earnings per Share PSAK 56 Laba per Saham
23 IAS 34 Interim Financial Reporting PSAK 3 Laporan Keuangan Interim 32 SIC 15 Operating Leases – Incentives ISAK 23 Sewa Operasi – Insentif
24 IAS 36 Impairment of Assets PSAK 48 Penurunan Nilai Asset

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IFRS
33 SIC 25 Income Taxes-Changes in the Tax ISAK 20
Status of an Entity or its
Shareholders
34 SIC 27 Evaluating the Substance ISAK 8
Transaction involving the
Legal Form of Lease
35 SIC 29 Service Concession ISAK 22
Arrangements: Disclosure
36 SIC 31 Revenue—Barter Transactions
Involving Advertising Services
37 SIC 32 Intangible Assets – Website ISAK 14
Costs
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THANK YOU
PSAK
• Follow my twitter @ersatriwahyuni
Pajak Penghasilan – perubahan dalam status • Blog : etw-accountant.com
pajak entitas atau para pemegang saham
• Email : ersawahyuni@gmail.com
Transaksi Mengandung Sewa
Perjanjian Konsensi Jasa:
Pengungkapan
Tidak diadopsi. Akan dihapus dengan IFRS 15
Aset Takberwujud - Biaya Situs Web
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