Implementation of PSAK No. 71 Regarding “Financial Instruments”

November 14, 2020


Indonesia confirmed the first Corona Virus Disease – 19 (“COVID-19”) case on March 2, 2020 through an announcement by President Joko Widodo. Two Indonesians had been tested positive for COVID-19. Once the massive spread of COVID-19 in Indonesia, through Presidential Decree (Keppres) of the Republic of Indonesia Number 12 of 2020, President Joko Widodo declared COVID-19 as a national disaster.

The determination of COVID-19 as a national disaster has limited activities and mostly carried out activities at home to implement social distancing as an effort to reduce the spread of COVID-19. This has hampered the company's activities, one of the aspects that has been significantly affected is the measurement of company ‘s potential impairment loss on financial assets, debt restructuring, fair value of financial assets, etc.

Journal Vol. 5 October 2020

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