financial accounting

Statement of Financial Accounting Standards ( SFAS ) is a guideline in the accounting practice where the description of the material in it covers almost all aspects relating to accounting , which was developed with a group of people with the ability to engage 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 user guide for the perpetrators of accounting which provides guidance on everything that has to do with accounting .

Accepted Accounting Principles ( GAAP ) include conventions , rules and procedures that have been prepared and approved by the official agency ( the 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 rule of accounting procedures that have been agreed upon and has been approved by an authorized agency or institute .



Financial Accounting Standards ( GAAP ) prepared by Indonesian Institute of Accountants institutions 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 obtain accurate information in respect of 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 statement " to obtain inforamsi about economic conditions .

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 the current 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 .

Of the 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 a provision for treatment , record keeping , preparation and presentation of financial statements prepared by the IAI institution based on current 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 every perusahasan in making financial laporann . But at least be able to ensure that the placement of elements or element of economic data should be placed in the right position so that all economic dat can be presented properly , so as to make it easier for interested parties to interpret and megevaluasi a financial report in order to take economic decisions good for each party .

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