accounting and finance

  
Statement of Financial Accounting Standards (SFAS) is a guideline in the practice of accounting in which the description of matter in which cover almost all the aspects related to accounting, which was developed involving a bunch of people with skills in accounting who are members of an organization called the Indonesian Institute of Accountants (IAI ). In other words, Statement of Financial Accounting Standards (SFAS) is a manual for actors of accounting which provides guidance on all matters to do with accounting.

Financial Accounting Standards (GAAP) include conventions, rules and procedures that have been developed and endorsed by the official institution (standard setting body) at any given moment.

The above statement gives an understanding that the Statement of Financial Accounting Standards (SFAS) is a book that contains instructions on accounting conventions or agreements, rules and procedures that have been approved by an authorized agency or institute. In other words, Statement of Financial Accounting Standards (SFAS) is a regulation concerning accounting procedures that have been agreed and approved by an authorized agency or institute.

Financial Accounting Standards (IFRSs) prepared by the Indonesian Institute of Accountants always refer to the prevailing theories and provide interpretation and reasoning that has depth in terms of practice, especially in the making of financial statements in respect of their information is accurate economic data.

Based on the above statement can be understood that the Statement of Financial Accounting Standards (SFAS) refers to the interpretation and reasoning theories are "valid" in practice "financial reporting" in order to obtain the information was about the economy.

Understanding of the above suggests that the Statement of Financial Accounting Standards (SFAS) contains "procedures for the preparation of financial statements" which always refers to the prevailing theory, or in other words, based on ongoing conditions.

This causes not ruled Statement of Financial Accounting Standards (SFAS) may undergo changes / adjustments from time to time in line with the changing needs of the information economy.

Overall opinion of the above it can be concluded that the Statement of Financial Accounting Standards (SFAS) is a manual of accounting procedures which contains rules on handling, recording, preparation and presentation of financial statements prepared by the IAI which is based on the ongoing conditions and have agreed (convention) and has been authorized by the agency or official institute.

As a guideline, Statement of Financial Accounting Standards (SFAS) is not an absolute for any perusahasan in making financial laporann. But at least to ensure that the placement of elements or elements of economic data should be placed in the right position so that all data can be presented with the economy, so it can make it easier for those interested in interpreting and megevaluasi financial statements for economic decision good for each party.