14
The form and elements of financial statements of PSAK is covered in
PSAK
1
and
PSAK
4.
The
elements
that
presented
in
the PSAK
are:
balance
sheet,
income
statement,
statement
of
cash
flows, statement
of
changes
in
equity
and
notes
including
accounting
policies. There
are
special
formats
of
balance
sheet
and
income
statement
for
specialized
industry
such
as
leasing
company
and
financial
institutions.
The parents companies should present consolidated financial statements.
The
form and elements of
financial statements of
IFRS
is covered
in
IAS 1 and IAS 27. The elements that presented is more likely same with the PSAK, but
they also add statement of recognized income and expense. IFRS does not required
specific
formats
for specialized
industry.
The parents companies do not have to present
the consolidated financial statements unless it meets some specific criteria.
d. Statements of change equity
The statements of change equity of PSAK are covered in PSAK 1 and PSAK
25. A statement of recognized income and expense is not required under PSAKs.
Minority
interest
is
not
included
as
element
of
equity,
so it
is
not
included
in
the
statements of change equity.
The
statements
of
change
equity
of IFRS
are
covered
in
IAS
1
and
IAS
8.
There
is a choice
to present the statement of recognized
income and expense. Since
IFRS requires disclosure for the income statement, so the allocations of that amount
between
“profit and
loss attributable to
minority
interest” are
not to be presented
as
items of income or expense.
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