Toll road accounting

JAKARTA (JP): The Association of Indonesian Accountants is formulating financial accounting standards for toll road operations and real estate developments.

Amir Abadi Yusuf, a senior executive of the association, said here Thursday that he hoped the planned accounting standard for the toll road operations could be approved in December, and the standard for real estate later next year.

He said that the standardization of accounting systems in toll road and real estate developments is very much needed due to the nature of the two business sectors.

He said that the association has so far issued accounting standards for, at least, 36 specific business sectors such as those related to mining, telecommunications, insurance, banking and construction. (hen)