What is regulated in PSAK 3?

PSAK 3 regulates determining the minimum content of interim financial statements and the principles of recognition and measurement in complete or condensed financial statements for the interim period. Timely and reliable interim financial reporting enhances the ability of investors, creditors, and others to understand the entity's capacity to generate profits and cash flows and its financial condition and liquidity. Click here if you need audit services, KAP Agus Ubaidillah dan Rekan (TGS AU Partners).

Interim Report Function

Interim financial statements are usually used as a requirement by governments, capital market regulators, and stock exchanges for entities whose debt securities or equity securities are traded on a stock exchange.

Interim Report Format

Interim financial reports can be reported in the form of complete and concise financial statements. If an entity publishes complete financial statements in its interim financial statements, the format and content of the interim financial statements are in accordance with the requirements of PSAK 1, namely:

  • Statement of financial position at the end of the period

  • Statement of profit or loss and other comprehensive income during the period

  • Statement of changes in equity during the period

  • Statement of cash flows during the period

  • Notes to financial statements, containing a summary of significant accounting policies and other explanatory information

  • Statement of financial position at the beginning of the nearest prior period when the entity applies an accounting policy retrospectively or makes restatements of financial statement items, or when the entity reclassifies items in its financial statements in accordance with paragraphs 40A-40D of PSAK 1

Concise interim financial statements include the following minimum components:

  • A concise statement of financial position

  • A concise statement of profit or loss and other comprehensive income either combined or separated

  • A concise statement of changes in equity

  • A concise cash flow statement

  • Certain explanatory notes

The Company applies the same accounting policies in the interim financial statements as in the annual financial statements, except for changes in accounting policies made after the date of the most recent annual financial statements which will be reflected in the next annual financial statements. However, the frequency of company reporting (annual, semi-annual, quarterly) does not affect the measurement of its annual results. To achieve this objective, measurements for interim reporting purposes are made on the basis of the beginning of the financial year until the reporting date.

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