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SAK Indonesia EMKM is an independent financial accounting standard that can be used by companies that meet the definition of companies without significant public accountability, in accordance with the characteristics of Law No. 20/2008 on SAK Indonesia and Micro ETAP. , small businesses and commercial enterprises. Medium-sized Enterprises (MSMEs). SAK EMKM in Indonesia clearly explains the entity concept as one of the basic prerequisites. Therefore, to prepare financial statements based on SAK EMKM Indonesia, companies must be able to separate the personal assets of their owners from the assets and performance of the company, as well as between the company/company and other companies/companies. .
Compared to other SAKs, SAK EMKM Indonesia is a simple standard that regulates the general transactions carried out by EMKM, and the basis of valuation is purely historical cost, so that EMKM is able to assess its assets and liabilities, simply recorded at cost. Companies that meet the requirements for using SAK Indonesia for EMKM should consider whether the provisions applied by SAK Indonesia for EMKM are appropriate and consistent with the company’s financial reporting requirements. Therefore, companies should consider the convenience provided by SAK Indonesia for EMKM and the information needs of users of the company’s financial statements, whether based on SAK Indonesia for EMKM or a separate SAK. The applicable financial reporting framework should be considered. SAK Indonesia for EMKM is effective as of January 1, 2018, and early adoption is permitted.
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