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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.