Indonesian banking accounting guidellines (Revised 2008) until 2016 have not been revised, while the Financial Accounting Sfandards (SAK) since 2008 to 2016 has been progressing significantly alterfinancial reporting. The results of the initial review of publicly confirm that 20 of PSAK which form the basis of lndonesian Banking Accounting Guidelines (PAPI), 6 of them have been revoked and the rest have been revised. Then there are others 13 PSAK that affect the PAPI but not yet known in 2008 ln late 2016, the Financial Accounting Sfandards Board (DSAK) published the Exposure Draft of IAS 71 to replace /AS 55 Financial lnstruments, which will be effective as of January 1, 2019. Because of PSAK 55 is the base main settings then without a doubt PAPI PAPI 2008 must be revised. A review of the conclusions that without revision there will be a significant gap between PAPI with PSAK in the aspecfs of the recognition and measurement of financial instruments. As for the presentation and disclosure aspecfs believed the gap were not significant

Financial Accounting Standards, PSAK 71, PSAK 55,

• Armanto Witjaksono, S.E., Ak., M.M., CA, CertDA

• Ignatius Edward Riantono, S.E., M.Ak., CCFA, Cert.DA, CPHCM, Cert.BV

• Shona Sonna, S.E., M.M.