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Hadori Sugiarto Adi & Rekan Vol. 21 A member of HLB International April 2017
Together we grow inspired
ISAK 32 Definition and Hierarchy of Indonesian Financial Accounting Standards
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Table of contents
1. Foreword
2. ISAK 32 Definition and Hierarchy of Indonesia Financial Accounting
Standards
3. Key Contacts
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Foreword
Welcome to the 21st (twenty-first) issue of Inspired! For this edition, we would like to inform you on recently issued ISAK 32: Definition and Hierarchy of Indonesian Financial Accounting Standards. In practice, there are potential inconsistencies between capital market regulatory regulations and Indonesian Financial Accounting Standards or Pernyataan Standar Akuntansi Keuangan (PSAK) or Interpretations of Indonesian Financial Accounting Standards or Interpretasi Standar Akuntansi Keuangan (ISAK). There may be differences in accounting treatment as regulated by regulatory regulation with PSAK or ISAK for a similar transaction. Therefore, the Financial Accounting Standards Board of the Indonesian Institute of Accountants (DSAK IAI) approved ISAK 32 which provides arrangements for entities when capital market regulations inconsistent with certain PSAK or ISAK. We have received various inputs/comments from our readers on the prior issues. This creates a room for discussion on practical and relevant issues to our clients. Since we want the journal to be as relevant as possible to your business needs, we look forward to hearing your inputs on each issue. If you wish us to write an article on topics relevant to your business needs, please e-mail us. Contact details are furnished at the last part of this journal.
Adi Wirawan
Senior Partner
April 2017
Hadori Sugiarto Adi & Rekan (Hadori) is a registered public accounting and business advisers firm, established in 1973,
with offices located in Jakarta, Surabaya, Yogyakarta and Semarang, and comprises of 19 partners and more than 225
professionals. Hadori is a member of HLB International.
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ISAK 32 Definition and Hierarchy of Indonesian Financial Accounting Standards Pada tanggal 10 Maret 2017, Dewan Standar
Akuntansi Keuangan Ikatan Akuntan Indonesia
(DSAK IAI) telah mengesahkan ISAK 32
mengenai Definisi dan Hierarki Standar Akuntansi
Keuangan.
Dalam PSAK 1 Penyajian Laporan Keuangan
paragraf 07 dan PSAK 25 Kebijakan Akuntansi,
Perubahan Estimasi Akuntansi dan Kesalahan
paragraf 05, mendefinisikan Standar Akuntansi
Keuangan (SAK) adalah Pernyataan dan
Interpretasi yang diterbitkan oleh Dewan Standar
Akuntansi Keuangan Ikatan Akuntan Indonesia
(DSAK IAI) dan Dewan Standar Akuntansi Syariah
Ikatan Akuntan Indonesia (DSAS IAI) serta
peraturan regulator pasar modal untuk entitas
yang berada di bawah pengawasannya. Definisi
tersebut diadopsi dari IAS 1 Presentation of
Financial Statements dan IAS 8 Accounting
Policies, Changes in Accounting Estimates and
Errors dengan tambahan pernyataan serta
peraturan regulator pasar modal untuk entitas
yang berada di bawah pengawasannya.
Akan tetapi dalam praktiknya, terdapat potensi
inkonsistensi antara peraturan regulator pasar
modal dengan PSAK atau ISAK. Dapat terjadi
perbedaan perlakuan akuntansi yang diatur dalam
peraturan regulator dengan PSAK atau ISAK atas
suatu transaksi yang sama. Oleh karena itu,
Dewan Standar Akuntansi Keuangan Ikatan
Akuntan Indonesia (DSAK IAI) mengesahkan
ISAK 32 yang memberikan pengaturan bagi
entitas ketika peraturan pasar modal bertentangan
dengan PSAK atau ISAK tertentu.
On March 10, 2017, the Financial Accounting
Standards Board of Indonesian Institute of
Accountants or Dewan Standar Akuntansi
Keuangan Ikatan Akuntan Indonesia (DSAK-
IAI) has approved ISAK 32 regarding the
Definition and Hierarchy of Financial Accounting
Standards.
In PSAK 1 "Presentation of Financial
Statements" paragraph 07 and PSAK 25
"Accounting Policies, Changes in Accounting
Estimates and Errors" paragraph 05, define
Financial Accounting Standards (SAK) are
Statements and Interpretations issued by the
Indonesian Accounting Standards Board (DSAK
IAI) and the Sharia Accounting Standards Board
of the Indonesian Institute of Accountants (DSAS
IAI) as well as regulations of the capital market
regulators for the entities under its oversight. The
definition is adopted from the IAS 1 "Presentation
of Financial Statements" and the IAS 8
Accounting Policies, Changes in Accounting
Estimates and Errors" with the addition of a
statement "as well as regulations of the capital
market regulators for the entities under its
oversight ".
In practice, however, there is potential for
inconsistencies between capital market
regulatory regulations and PSAK or ISAK. There
may be differences in accounting treatment as
regulated by regulatory regulation with PSAK or
ISAK for a similar transaction. Therefore, the
Financial Accounting Standards Board of the
Indonesian Institute of Accountants (DSAK IAI)
approved ISAK 32 which provides arrangements
for entities when capital market regulations
inconsistent with certain PSAK or ISAK.
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RUANG LINGKUP SCOPE
Ruang lingkup ISAK 32 adalah menjelaskan dan
menegaskan hierarki Pernyataan Standar
Akuntansi Keuangan (PSAK), Interpretasi Standar
Akuntansi Keuangan (ISAK) dan peraturan
regulator pasar modal untuk entitas yang berada
di bawah pengawasannya.
The scope of ISAK 32 is to clarify and affirm the
hierarchy of Statements of Financial Accounting
Standards (PSAK), Interpretations of Financial
Accounting Standards (ISAK) and capital market
regulatory regulations for entities under its
oversight.
HIERARKI STANDAR AKUNTANSI KEUANGAN/HIERARCHY OF FINANCIAL ACCOUNTING
STANDARD
PSAK 25 par. 07
Jika suatu PSAK secara spesifik berlaku untuk suatu transaksi, peristiwa atau kondisi, kebijakan akuntansi yang diterapkan untuk pos tersebut menggunakan PSAK tersebut./
If a PSAK specifically applies to a transaction, other event or condition, the accounting policies applied to that
item shall be determined by applying the PSAK.
1. SAK yang
berhubungan
dengan
masalah serupa
dan terkait; /
SAK relating to
similar and
related issues;
2. Definisi, kriteria pengakuan,
konsep pengukuran untuk
aset, liabilitas, penghasilan,
dan beban dalam Kerangka
Konseptual Pelaporan
Keuangan (KKPK);/
Definition, recognition
criteria, measurement
concepts for assets,
liabilities, income, and
expenses in the Conceptual
Framework of Financial
Reporting (KKPK);
3. Standar akuntansi terkini yang dikeluarkan
oleh badan penyusun standar akuntansi lain
yang menggunakan kerangka dasar yang
sama untuk mengembangkan standar
akuntansi, literatur akuntansi, dan praktik
akuntansi industri yang berlaku, sepanjang
tidak bertentangan dengan SAK dan KKPK./
Current accounting standards issued by other
accounting standards governing institute that
use the same basic framework for developing
accounting standards, accounting literature
and prevailing industrial accounting practices,
to the extent not incompatible with SAK and
KKPK.
PSAK 25 par. 10-12
Jika tidak ada PSAK yang spesifik mengatur suatu transaksi, peristiwa atau kondisi, manajemen
menggunakan pertimbangannya dalam mengembangkan dan menyusun kebijakan akuntansi dengan urutan
sebagai berikut:/
In the absence of a PSAK that specifically applies to a transaction, other event or condition, management shall
use its judgment in developing and applying accounting policy in order are as follows:
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INTERPRETASI INTERPRETATION
Dalam PSAK 25 telah diatur mengenai hierarki
SAK seperti yang telah dijelaskan di atas. Ketika
suatu PSAK secara spesifik berlaku untuk suatu
transaksi, peristiwa atau kondisi lain, kebijakan
akuntansi yang diterapkan untuk pos tersebut
menggunakan PSAK tersebut. ISAK 32
memberikan penjelasan bahwa PSAK yang
dimaksudkan dalam PSAK 25 paragraf 07
merujuk pada PSAK dan ISAK. Hal ini sejalan
dengan pembahasan dalam Dasar Kesimpulan
IAS 8 paragraf BC15, yang menjadi rujukan PSAK
25, yang menjelaskan bahwa dalam kaitannya
dengan hierarki, ISAK memiliki status yang sejajar
dengan PSAK.
Peraturan regulator pasar modal diantaranya
mengatur tentang perlakuan akuntansi tertentu
atas suatu transaksi, kejadian atau kondisi.
Peraturan tersebut tidak bertentangan dengan
perlakuan akuntansi spesifik yang telah diatur
dalam suatu PSAK atau ISAK jika perlakuan
akuntansi yang diatur dalam peraturan tersebut
tidak bertentangan dengan prinsip yang menjadi
dasar perlakuan akuntansi yang telah diatur dalam
suatu PSAK dan ISAK. Sebagai contoh, peraturan
tersebut membatasi opsi perlakuan akuntansi
yang diperkenakan dalam suatu PSAK atau ISAK,
atau pengaturan tersebut menambahkan
ketentuan pengungkapan yang telah diatur dalam
suatu PSAK atau ISAK untuk memenuhi prinsip
keterbukaan informasi yang diterapkan di pasar
modal.
Dalam perkembangannya dapat terjadi peraturan
regulator mengatur perlakuan akuntansi yang
berbeda dengan PSAK atau ISAK atas suatu
peristiwa yang sama, sehingga dalam hal
peraturan regulator pasar modal bertentangan
dengan PSAK atau ISAK yang spesifik, contoh
PSAK/ISAK menganut prinsip substansi
mengungguli bentuk, sedangkan peraturan pasar
modal menganut prinsip bentuk mengungguli
substansi. ISAK 32 mensyaratkan entitas untuk
menerapkan PSAK atau ISAK yang spesifik
tersebut.
In PSAK 25, Hierarchy of SAK has been
regulated as described above. When a PSAK
specifically applies to a transaction, other event
or condition, the accounting policies applied to
that item shall be determined by applying the
PSAK. ISAK 32 provides an explanation that the
PSAK referred to in PSAK 25 paragraph 07
refers to PSAK and ISAK. This is in line with the
discussion in the Basis for Conclusion (BC) of
IAS 8 Accounting Policies, Changes in
Estimates and Errors paragraph BC15, which is
the reference of PSAK 25, explains that in
relation to the hierarchy ISAK has the same
status to the PSAK.
Regulation of capital market regulators among
others regulates certain accounting treatment of
a transaction, event or condition. The regulation
is not inconsistent with the specific accounting
treatment which has been regulated in a PSAK
or ISAK if the accounting treatment set forth in
the regulation is not contrary to the principle
under which the accounting treatment has been
arranged in a PSAK and ISAK. For example, the
regulation limits the option of accounting
treatment which is allowed in the PSAK or ISAK,
or the arrangement adds to the disclosure
provisions that have been arranged in the PSAK
or ISAK to fulfill the disclosure principle applied in
the capital market.
In its development, regulatory regulations may
regulate the different accounting treatments of
PSAK or ISAK on the same event, so in the case
of capital market regulatory regulation contrary to
specific PSAK or ISAK, for example, PSAK/ISAK
requires the use of substance over form
principles, while the capital market regulation
requires the use of form over substance
principles. ISAK 32 requires the entity to apply
the specific PSAK or ISAK.
TANGGAL EFEKTIF SCOPE
Entitas menerapkan interpretasi ini untuk periode
pelaporan tahunan yang dimulai pada atau
setelah tanggal 1 Januari 2017.
The Entities shall apply this interpretation to
annual reporting periods beginning on or after
January 1, 2017.
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Key Contacts Should you need further clarification on the information included in this issue, or
would require any assistance in the implementation of the new accounting
standards, taxation, regulation, and any other inquiries on our advisory services,
kindly send us an email at [email protected] or call us at +62-21-5761667.
Adi Wirawan
Senior Partner
Wahyu Wibowo
Partner
Yulianti Sugiarta
Partner
Wijanarko
Partner
Yudianto P. Silianto
Partner
Velix Sogen
Partner
Riza Manalo Paguio
Senior Technical Advisor
Feny Indah S.
Partner
Contributors:
Sri Agustina [email protected]
Cover Photo:
Savitri Rahayu
Cover Photo Location:
Lengkuas Island, Belitung
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About Hadori Sugiarto Adi & Rekan
Hadori & Rekan is a registered public accounting and business advisers firm. We have been established since 1973, with offices located in Jakarta, Surabaya, Yogyakarta and Semarang. The firm represents a group of specialist providing business advices and services to a wide range of business organizations, including private, public, state-owned enterprises and not-for-profit organizations.
Since 1988, Hadori & Rekan joined HLB International, a worldwide accounting firms and business advisers. Having this membership each member firm has the right to use HLB in their name to present a blend of international and local name. It emphasizes the strength of both the international organization and the local firm whilst, at the same time, demonstrating the close bond between the two. Accordingly, the brand name Hadori & Rekan change to Hadori & Rekan (currently Hadori Sugiarto Adi & Rekan). Such change has been approved by the Ministry of Finance.
As a member of HLB International, Hadori Sugiarto Adi & Rekan is part of a worldwide network of respected public
accounting and business advisory firms in 130 countries, with 1,900 partners and 17,000 staffs in 600 offices
worldwide.
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any Verdict or action that may affect you or your business. Before making any Verdict or taking any action that may
affect you or your business, you should consult a qualified professional advisor.
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2017 Hadori Sugiarto Adi & Rekan
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