In Indonesia, currently there are 4 (four) issued and recognized accounting standard, which are the following:

  1. Standar Akuntansi Keuangan (PSAK), this is the most sophisticated accounting standard. This standard also already in-line (in material way) with IFRS. Due to that characteristic, this accounting standard demands continuous update from the Company whenever there is an update from International Standards.
  2. Standar Akuntansi Keuangan Syariah (PSAK Syariah), this standard is specifically used by sharia institution and or non-sharia institution whenever they have some instruments which govern under this sharia standard.
  3. Standar Akuntansi Keuangan untuk Entitas Tanpa Akuntanbilitas Publik (SAK ETAP), this accounting standards can be use by entity with non-significant public accountability. In term of changes, this standard is more stable.
  4. Standar Akuntansi Keuangan Untuk Entitas Mikro Kecil dan Menengah (SAK EMKM), this accounting standards can be use by entity that qualified with the definition of Entitas Mikro Kecil dan Menengah for 2 years in a row, or regulated by Government to use this standard.

That is some summary on type of accounting standards available in Indonesia, please contact us should you needs advisory on defining which standard that suit with your situation by sending us an e-mail to