On Wednesday 28 September 2022, TGS AU Partners was invited to be a speaker in one of the programs where every year International Internships collaborates with the University of Technology Sydney (UTS), namely the UTS BAcc Asia Leadership Intensive Program. Participants in the talk show were attended by several Accounting students from the University of Technology Sydney.


Furthermore, the presentation continued with a discussion session on taxation in Indonesia. Mr. Mikail Jaman a Managing Partner as well as a resource person from TGS AU Partners gave an overview of the business processes of public accounting firms in Indonesia, financial accounting standards in Indonesia, audit requirements according to law, and how the profession of an accountant in Indonesia is. Mrs. Yuli as Tax Manager was also a resource person from TGS AU Partners by providing an overview of the conditions and regulations of taxation in Indonesia.


During the presentation session, Mr. Mikail Jaman opened a question-and-answer session for all students and gave prizes to those who were able to answer their questions. Some of the students were very interested in asking questions and discussing financial accounting standards. Not a few of them want to know what are the differences between each accounting standard.


Indonesia currently applies 3 (three) Financial Accounting Standards, namely:

  • General SAK (Financial Accounting Standards adopted from International Financial Report Standards)

This standard is used for entities or businesses that have public accountability, namely entities that are registered or still in the process of registering in the capital market such as public companies, insurance, banking, BUMN, or pension fund companies.

  • SAK ETAP (Financial Accounting Standards for Entities Without Public Accounting)

SAK ETAP is an accounting standard that is simpler than general SAK, which includes, among others, the absence of a comprehensive income statement, the valuation for property, plant, and equipment, intangible assets, and investment properties after the acquisition date only use cost.

  • SAK EMKM (Micro, Small, and Medium Entities)

Intended for entities that have not been able to meet the requirements according to SAK-ETAP.


Read more: Investment Entities: Exceptions to Consolidated According to the Statement of Financial Accounting Standards (PSAK) 65

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