Preparing FY2026 Financial Statements for a PT PMA in Indonesia

To prepare a PT PMA’s FY2026 financial statements, close the accounting records at the company’s actual year-end, reconcile major balances, document adjustments, and assemble statements under the applicable Indonesian financial reporting standards. The approved figures then support separate work in 2027: the corporate income tax return in Coretax and the annual report considered by shareholders.

Fix the Year-End and Assign Owners

Start with the year-end in the company’s records and articles of association. A PT PMA whose financial year ends on 31 December 2026 prepares FY2026 statements after that date. Another company may use a different year-end, so its close, tax, and shareholder calendar will differ. Our guide to what a PT PMA is explains the company form; this guide addresses the records needed once it is operating.

Give the finance team a close timetable with a preparer, reviewer, and sign-off date for each material account. Freeze the version of the trial balance used for drafting, then record later adjustments in a change log. This makes it possible to explain why a number in the final statements differs from an earlier management report.

Reconcile Bank, Receivables, and Payables

Reconcile every bank account to its year-end statement, including foreign-currency accounts. List deposits in transit, outstanding payments, bank fees, and exchange differences, then resolve or explain each item. Do the same for cash accounts and payment platforms used by the business.

For receivables, match the ledger to customer invoices, credit notes, receipts, and the underlying contracts. Review old balances for collectability and record the conclusion under the company’s accounting policy. For payables, compare supplier statements, invoices, payments, and goods or services received near year-end. Check whether expenses belong to FY2026 even if the invoice arrived in 2027. A cut-off worksheet should identify the transaction date, supporting document, accounting period, and person who approved the entry.

Check Fixed Assets and Intercompany Balances

Roll the fixed-asset register from the prior year to FY2026. Tie additions to invoices and approval records, disposals to sale or write-off documents, and closing balances to the ledger. Review depreciation and any indicators that an asset’s carrying amount needs further assessment under the applicable accounting policy. Keep the accounting treatment separate from the tax depreciation schedule, then reconcile the differences for the tax preparer.

Where the PT PMA transacts with a shareholder or another group company, confirm loans, advances, service charges, and unpaid invoices with the counterparty. Record the agreement, currency, exchange-rate treatment, and settlement status. Compare both sides of the intercompany account before group consolidation or tax review. Our PT PMA tax obligations guide explains the broader tax issues that may arise from company transactions.

Choose the Applicable Reporting Framework and Audit Route

Article 66 of Indonesia’s Company Law No. 40 of 2007 says the annual report’s financial statements must follow financial accounting standards. Confirm the framework that applies to the company before drafting the notes and comparative figures. The Indonesian Institute of Accountants (IAI) says SAK Entitas Privat has applied since 1 January 2025 for eligible private entities without public accountability that issue general-purpose financial statements. Eligibility depends on the entity and any sector rules; do not select that framework solely because the company has foreign shareholders.

The Company Law lists a comparative year-end balance sheet, income statement, cash flow statement, statement of changes in equity, and notes in the financial statements included with the annual report. Prepare the statements as a connected set. For example, the closing cash balance in the cash flow statement should agree with the balance sheet after any required presentation adjustments.

Check the audit requirement separately. Under Article 68, an audit applies to categories such as public companies, businesses collecting or managing public funds, and companies with assets or annual turnover of at least IDR 50 billion, as well as cases required by other laws. Foreign ownership alone does not make every PT PMA’s FY2026 statements subject to audit. If an audit applies, schedule the auditor’s work before shareholder approval and retain the signed audit report.

Build Separate Tax and Shareholder Handoff Packs

The financial statements feed two different processes. For the corporate income tax return, give the tax preparer the approved trial balance, statements, fiscal reconciliation, withholding evidence, payment records, and schedules for adjustments. DJP’s Coretax guidance starts the corporate return with the main form, then uses the company’s answers and business sector to determine attachments. For a calendar-year taxpayer, DJP’s general four-month rule places the FY2026 return deadline on 30 April 2027. Our Coretax annual return guide for PT PMA covers the submission workflow, while our Coretax readiness checklist covers access and supporting records.

For the annual report, give the directors the financial statements, notes, audit report if required, and a register of issues still needing a decision. Article 66 requires directors to submit the annual report to shareholders after commissioners review it. Article 67 addresses signatures and shareholder access to the report from the meeting notice date. The annual RUPS must take place within six months after the financial year-end under Article 78. Our annual RUPS guide for PT PMA directors covers the meeting and notarial handoff.

Also Read: Director and Commissioner Requirements for PMA Companies in Indonesia

Ministry of Law Regulation No. 49 of 2025 adds a deed and SABH submission step for approval of the annual report. Keep the version approved by shareholders aligned with the report provided to the notary. Our PT PMA compliance calendar for 2026 to 2027 shows how the tax and shareholder deadlines sit beside other reporting duties.

Review the Evidence File Before Sign-Off

A useful FY2026 close file lets a reviewer trace each statement balance to a ledger and a source record. Before sign-off, check that it contains:

• The confirmed year-end, applicable accounting framework, close timetable, and approval owners.
• The final trial balance, adjustment log, bank reconciliations, and cash confirmations.
• Receivables and payables aging, cut-off tests, and support for material estimates.
• The fixed-asset roll-forward and confirmed intercompany balances.
• The full financial statement set, comparative figures, and notes.
• The audit assessment and report if required, plus separate tax and RUPS handoff records.

InvestinAsia Accounting & Tax Reporting describes bookkeeping, financial reporting, and tax return preparation support. Confirm the precise scope needed for your FY2026 close and who will review each statutory handoff.