Change Voluntary Disclosure

1. Title PSAK;2. That changes in accounting policy made in accordance with the transition provisions, when

applicable;3. The nature of changes in accounting policies;4. Explanation of the transitional provisions, when applicable;5. Transitional provisions which have an impact on future periods, when applicable;6. For the current period and any prior periods presented, all practical, the amount of the

adjustment:i. For each item the financial statements affected; and

ii. Basic and diluted LPS, if PSAK 56 is applied over the entity;a)The amount of the adjustment relating to prior periods presented, all practical;

andb) If retrospective application is impractical for a certain period and

then, or prior periods presented, the circumstances leading to the existence of that condition and a description of how and started when changes in accounting policies applied.

*) The financial statements of subsequent periods need not repeat.

The New PSAK Has Not Been Effective

When an entity has not applied a new PSAK that has been issued but not yet effective, the entity shall disclose:

1. That fact.2. Relevant information that can be reasonably estimated or can be known to assess the

possible impact of the application of the new PSAK on the financial statements in the period of initial application.

Accounting Estimation

Accounting estimate is an estimate of the entity which may affect elements of the financial statement.

1. Estimates should involve consideration of the entity based on the latest information available and reliable.

2. Many things affect financial statement element that cannot be measured accurately, but can only be estimated because of the uncertainty inherent in business activity.

3. The use of reasonable estimates is paramount in the preparation of financial statement without neglecting reliability.

Changes in Accounting Estimation

Estimates involve judgment based on current information available and reliable.Changes in accounting estimates are:

1. Adjustment of the carrying amount of the asset or liability, or the amount of the periodic consumption of assets, which is derived from the assessment of the present status of, and expected future benefits and obligations associated with, assets and liabilities.

2. Changes in accounting estimates result from new information or new developments and,

3. Therefore, not error correction.

An entity should recognize the effects of changes in estimate prospectively as follows:

1. Throughout the changes in accounting estimates result in changes in asset and a liability, or relating to an item of equity, changes in accounting estimates are recognized by adjusting the carrying amount of items of assets, liabilities, or equity related to the period of change.

2. Impact of changes in accounting estimates, in addition to changes in the application of the above, it is recognized prospectively in the income statement at:

a. The period of the change, if the change impacts only during that period; orb. Period of change and future periods, if the change affects both.

Disclosure of Estimation Changes

1. An entity shall disclose the nature and amount changes in accounting estimates: Impact on the current period, or are expected to have an impact on future periods, except for the disclosure of the

impact on future periods is not practical to estimate the impact.2. If the number impact on future periods is not disclosed because the estimate is

impractical, it shall disclose that fact.

Error

1. Errors can arise in the recognition, measurement, presentation or disclosure of elements of financial statements.

2. Financial statements are not in accordance with PSAK if it contains:a. Material errorb. Non deliberate material error to achieve a presentation of the statement of

financial position, financial performance or cash flows specified.

Previous Period Errors

Previous Period Errors is included negligence and mistakes in recording, the entity's financial statements for one or more prior periods arising from a failure to use, or misuse reliable information that:

1. Available when the completion of the financial statements for that period; 2. And rationally expected to be obtained and used in preparing and presenting financial

statements.

Such errors include ;

Impact mathematical calculation errors, Misapplication of accounting policies, Error or misinterpretation of the facts, Cheating.

Previous Period Error Correction

Correction of material errors last period:

Entities correcting material errors retrospectively in the last period the first complete financial statements issued after the discovery by:

1. Restate the comparative amounts for prior period’s statement in which the error occurred; or

2. If the error occurred before the earliest period of the statement, then restate the initial balance of the asset, a liability, and equity for the earliest prior period’s statement.

Limitations of Retrospective Presentation

Past period error is corrected by retrospective restatement except to the extent not practical to determine the impact of a particular period or cumulative impact of the error.When it is not practical to determine:

1. Specific impact period errorsa. The entity restate the opening balances of assets, a liability, and equity for the

earliest period for which retrospective restatement is practical (perhaps the current period).

2. Cumulative impacts, at the beginning of the current period, of an error on all prior periods.

a. Entity represents comparative information to correct the error prospectively from the earliest date the most practical.

Application of a regulation is not practical when the entity cannot apply it after all the effort made rational.To a certain Past period, it is impracticable to apply a change in accounting policy retrospectively or retrospectively restated to correct an error if:

The impact of retrospective application or retrospective restatement cannot be determined;

Retrospective application or retrospective restatement requires assumptions about the intent of the existing management in the previous period; or

Retrospective application or retrospective restatement requires significant estimates of amounts and it is impossible to distinguish objectively information about the estimates:

o provides evidence of circumstances that existed on the date on which the amount was recorded, measured or disclosed; and

o will be available when the financial statements of Past period authorized for issue from other information.