The financial statements of Universitas Indonesia are fairly presented in all material aspects, the financial

positions as at December 31 2017 ajd the cash flows for the year ending on 31 December 2017. In accordance
with financial accounting standards in Indonesia. Furthermore, there are some differences in terms of the
elements of the financial statements, considering Universitas Indonesia is being public sector organization
whose field is in educational purpose. The main purpose of the public sector entity such as Universitas
Indonesia is not profit maximization, but to provide services and prosperity toward the community, on the
contrary the main objective of private sector organization is profit maximization for the sake of shareholders
wealth. The elements of financial statements of Universitas Indonesia are consisted of Statement of Financial
Position, Statement of Activity in replacement of Income Statement in private sector, and Statement of Cash
Flow.

Statement of Financial Position.

The Statement of Financial Position also reports the organization’s net assets. Similar to equity, the net assets
section denotes the “value” of the nonprofit. This value, however, is further divided on the Statement of
Financial Position into restrictions – either temporarily restricted, permanently restricted, and unrestricted net
assets. These classifications are used to segregate funding based on any restrictions imposed by each donor as
to how the funds can be spent.
Statement of activities
Reports the universitas Indonesia's income and expenses for the year ended 31 december 2017. The report
reflects the changes to universitas indonesia’s net assets resulting from income and expenses that occur
during the current fiscal year.
The results of the year’s activities result in a change to the UI’s net assets, thus the SOA and the statement of
financial position (SOFP) reports are related. Net results in unrestricted (UR), temporarily restricted (TR), and
permanently restricted (PR) financial activity for each year are accumulated on the SOFP and show as changes-
-increases or decreases--in those net assets categories.
However, since restricted net assets cannot easily be used by the organization (without satisfying the donor-
imposed restrictions), it is quite common in UI to consider the unrestricted net assets to be the actual value of
the organization. Thus, if UI had to close its doors, those unspent funds held that were restricted for use
would have to be returned to the donors since UI did not earn them.
The ending value of each net asset fund listed on the Statement of Activities matches the same amount listed
on the Statement of Financial Position.
In accordance with UI being public sector organization that is governed by the government, they received
APBN (state budget funds) /BTTPN (Assistance funding for state universities) as well as Grants or donation.

Statement of cash flows

This statement shows the inflow and outflow of cash within Universitas Indonesia. The difference is that UI
generates investment in endowment funds which cannot be found in private sector's.
Dec 12, 2019