Financial Statements for PT PMA 2026: PSAK Standards, Filing Requirements & Deadlines

The Five Required Financial Statements

Indonesian accounting standards require PT PMA companies to prepare a complete set of five financial statements at the end of each fiscal year. These statements tell the story of your company's financial health and are used by tax authorities, banks, investors, and regulators.

Statement 1: Balance Sheet (Laporan Posisi Keuangan)

The balance sheet shows what your company owns, owes, and is worth at a specific point in time (usually December 31).

Structure

Assets (Aset)

Liabilities (Kewajiban)

Equity (Ekuitas)

The balance sheet equation must always hold: Assets = Liabilities + Equity

Statement 2: Profit & Loss (Laporan Laba Rugi)

The P&L shows your company's revenue, expenses, and net income over the fiscal year.

Standard Format

Revenue (Pendapatan Usaha)
  Sales / Service Revenue                    IDR xxx
  Less: Sales Returns & Discounts           (IDR xxx)
  Net Revenue                                IDR xxx

Cost of Revenue (Beban Pokok Pendapatan)
  Direct Costs                              (IDR xxx)
  Gross Profit (Laba Kotor)                  IDR xxx

Operating Expenses (Beban Operasional)
  Salaries & Benefits                       (IDR xxx)
  Rent                                      (IDR xxx)
  Utilities                                 (IDR xxx)
  Depreciation & Amortization              (IDR xxx)
  Marketing & Advertising                   (IDR xxx)
  Professional Fees                         (IDR xxx)
  Office Supplies                           (IDR xxx)
  Insurance                                 (IDR xxx)
  Travel & Transportation                   (IDR xxx)
  Other Operating Expenses                  (IDR xxx)
  Total Operating Expenses                  (IDR xxx)

Operating Profit (Laba Operasional)           IDR xxx

Other Income/(Expenses)
  Interest Income                            IDR xxx
  Interest Expense                          (IDR xxx)
  Foreign Exchange Gain/(Loss)               IDR xxx
  Other Income/(Expenses)                    IDR xxx
  Total Other Income/(Expenses)              IDR xxx

Profit Before Tax (Laba Sebelum Pajak)        IDR xxx
  Income Tax Expense                        (IDR xxx)
Net Profit (Laba Bersih)                      IDR xxx

Key Considerations

Revenue recognition: Revenue is recognized when the service is delivered or goods are transferred to the customer, not when payment is received (accrual basis).

Expense deductibility: Not all expenses in the commercial P&L are deductible for tax purposes. The fiscal reconciliation adjusts for:

• Entertainment expenses (need a detailed list/nominatif)
• Donations (limited deductibility)
• Depreciation differences (commercial vs. fiscal rates)
• Fines and penalties (not deductible)
• Employee benefits not meeting tax criteria

Statement 3: Cash Flow (Laporan Arus Kas)

The cash flow statement shows actual cash movement, categorized into three activities:

Operating Activities

Cash flows from normal business operations:

• Cash received from customers
• Cash paid to suppliers and employees
• Tax payments
• Interest paid and received

Investing Activities

Cash flows from buying/selling long-term assets:

• Purchase of equipment or property
• Proceeds from asset sales
• Investments in subsidiaries or securities

Financing Activities

Cash flows from capital and debt transactions:

• Capital injection from shareholders
• Loan proceeds and repayments
• Dividend payments

Methods

PT PMA can use either:

• Direct method: Lists actual cash receipts and payments (preferred by DJP)
• Indirect method: Starts with net income and adjusts for non-cash items

Statement 4: Changes in Equity (Laporan Perubahan Ekuitas)

This statement tracks movement in the company's equity during the year:

Statement 5: Notes to Financial Statements

The notes provide essential context and are actually the largest part of the financial statements. They must include:

Mandatory Disclosures

1. Company overview: Name, legal form, establishment date, business activities
2. Accounting policies: Summary of significant accounting methods used
3. Revenue recognition policy: How revenue is recognized
4. Fixed asset policy: Depreciation methods and useful lives
5. Foreign currency policy: Exchange rate treatment
6. Tax reconciliation: Commercial to fiscal profit reconciliation
7. Related party transactions: Transactions with shareholders, directors, affiliates
8. Contingencies: Pending lawsuits, tax disputes, guarantees
9. Events after reporting date: Significant events after year-end
10. Going concern assessment: If applicable

Commercial vs. Fiscal Financial Statements

Why Two Sets?

Indonesian tax law differs from SAK accounting standards in several areas. PT PMA must prepare:

1. Commercial financial statements: Following SAK/PSAK for business reporting
2. Fiscal financial statements: Adjusted for tax law compliance

Key Differences

Fiscal Reconciliation Example

Commercial Profit Before Tax           IDR 500,000,000

Positive Adjustments (add back):
  Entertainment without nominative list  IDR  20,000,000
  Depreciation difference                IDR  15,000,000
  Employee benefits (not yet paid)       IDR  10,000,000
  Penalties and fines                    IDR   5,000,000
  Subtotal                               IDR  50,000,000

Negative Adjustments (deduct):
  Tax depreciation excess               (IDR   8,000,000)
  Subtotal                              (IDR   8,000,000)

Fiscal Profit Before Tax                IDR 542,000,000
Corporate Tax (22%)                     IDR 119,240,000

Filing Requirements and Deadlines

Annual Corporate Tax Return (SPT Tahunan PPh Badan)

LKPM Reporting

Financial data must also be reported quarterly through LKPM:

• Revenue and production figures
• Capital realization
• Employment data
• Investment status

RUPS (Annual Shareholders Meeting)

Financial statements must be presented to and approved by shareholders at the annual RUPS within 6 months of fiscal year end (by June 30 for calendar year companies).

Preparation Timeline

Common Mistakes in Financial Statement Preparation

Mistake 1: Inconsistent Accounting Policies

Changing depreciation methods or revenue recognition policies between years without disclosure creates audit flags and tax issues.

Mistake 2: Missing Related Party Disclosures

Transactions with shareholders, directors, or affiliated companies must be disclosed in the notes. DJP pays special attention to transfer pricing between related parties.

Mistake 3: Incorrect Foreign Exchange Treatment

All foreign currency balances must be restated at the BI middle rate on December 31. Unrealized exchange gains/losses must be recognized. Many companies forget to restate USD receivables/payables at year-end.

Mistake 4: Not Reconciling Tax Accounts

The tax payable balances in the balance sheet must match actual tax obligations. A common error is having PPh 25 prepaid amounts that do not reconcile with actual payments.

Mistake 5: Omitting Employee Benefit Obligations

Under PSAK 24 (employee benefits), companies must calculate and disclose post-employment benefit obligations. Even if the calculation is immaterial, the disclosure is required.

Frequently Asked Questions

When are PT PMA financial statements due?

Annual financial statements must be prepared by the end of Q1 (March 31) for the previous fiscal year. They are submitted to DJP as part of the SPT Tahunan PPh Badan (corporate tax return) by April 30. Companies with an audit requirement must have audited statements ready by the RUPS deadline (within 6 months of fiscal year end, i.e., June 30).

Does a PT PMA need to use full PSAK or can it use simplified standards?

Most private PT PMA companies can use SAK ETAP (simplified standards for entities without public accountability). Full PSAK is required only for publicly listed companies, financial institutions, and companies planning to go public. SAK EMKM is available for micro/small entities but rarely applies to PT PMA due to their minimum capital requirements.

What is the difference between commercial and fiscal financial statements?

Commercial financial statements follow SAK/PSAK accounting standards for accurate business reporting. Fiscal financial statements are adjusted versions that comply with Indonesian tax law, which has different rules for depreciation rates, allowable deductions, and revenue recognition. PT PMA must prepare both and include a fiscal reconciliation in the tax return.

How Bali Zero Can Help

Bali Zero connects PT PMA owners with qualified accounting and audit professionals:

• Annual financial statement preparation through our accounting partners
• Fiscal reconciliation and corporate tax return filing
• Audit coordination (see our audit requirements guide)
• Monthly bookkeeping leading to clean year-end close
• New company formation (IDR 20,000,000) with accounting framework setup

Contact us at info@balizero.com or WhatsApp +62 821 3454 721 for financial reporting support.