Name : Ni Putu Rafania Deviyanti NIM : 23080430043
Class/Study Program : B20/Pendidikan Akuntansi Bahasa Inggris
1. How does the process of becoming an accountant in Indonesia compare to that described above?
answer :
The process of becoming an accountant in Indonesia involves several steps, including obtaining formal education in accounting, passing professional exams such as the Public Accountant Competency Examination (UKAP), and becoming a member of the Indonesian Accountants Association (IAI) or other recognized accounting professional institutions. After fulfilling these requirements, one can obtain a license and start practicing as an accountant in Indonesia. Apart from that, in practice, an accountant in Indonesia must also comply with applicable accounting standards, such as the Financial Accounting Standards (SAK) set by the Financial Accounting Standards Agency (BSAK).
2. Describe general accounting rules and practices in Indonesia. What standards are used to compile financial information?
answer :
In Indonesia, general accounting rules and practices refer to Financial Accounting Standards (SAK) issued by the Financial Accounting Standards Agency (BSAK). SAK includes guidelines that business entities must follow in preparing their financial reports. Some of the main principles in SAK include conservatism, recognition of income when it occurs, recognition of expenses when they occur, measurement at historical values, and adequate disclosure.
Apart from that, business entities in Indonesia must also comply with the regulations issued by the Financial Services Authority (OJK) or the Indonesian Stock Exchange (BEI) if the entity is
registered on the stock exchange. This includes the requirements for preparing financial reports in accordance with the standards set by the OJK or BEI.
General accounting practices in Indonesia also include a deep understanding of taxes and applicable tax regulations, because financial reports are also used as a basis for tax reporting.
In addition, accounting practices in Indonesia may also consider relevant legal and regulatory aspects, such as the Public Company Law (UUPT) and the Capital Markets Law (UU PM), depending on the type of entity and the industry in which the entity operates.
