1 January 2027 still feels far away — until you realize that the 2026 closing is the last full rehearsal. Companies that prepare with this checklist from the fourth quarter will move through the comparative period far more calmly.
1. The Big Sequence
- Gap analysis — see what is and is not ready.
- Roadmap — set the timeline and owners.
- Upskilling — train accounting, finance, and IT.
- Implementation & dry run — test with 2026 data.
- Go-live — apply to 2027 interim reporting.
The checklist below can be used directly as a worklist.
2. The Main Checklist
| ✓ | Item | Owner |
|---|---|---|
| A. Policy and classification | ||
| ☐ | Determine whether the main business activity is specified | |
| ☐ | Map every account to one of the five PSAK 118 categories | |
| ☐ | Document the basis for classification | |
| B. Chart of Accounts and data | ||
| ☐ | Identify accounts that mix several categories | |
| ☐ | Split interest, FX, impairment, and “other expenses” | |
| ☐ | Ensure receivable impairment is in operating | |
| ☐ | Flag discontinued operation accounts | |
| C. Reports and notes (CALK — Catatan atas Laporan Keuangan) | ||
| ☐ | Build the profit or loss format with five categories | |
| ☐ | Present Operating Profit and Profit before Financing & Tax subtotals | |
| ☐ | Prepare expense analysis by nature (depreciation, amortization, employee benefits, impairment) | |
| ☐ | Prepare restated comparatives | |
| D. MPMs (Management-defined Performance Measures) | ||
| ☐ | List all metrics used in public communication | |
| ☐ | Determine which meet the MPM definition | |
| ☐ | Prepare reconciliation to the nearest PSAK subtotal | |
| ☐ | Explain the rationale and calculation consistency | |
| E. System and testing | ||
| ☐ | Adjust report definitions in Odoo | |
| ☐ | Test the report with 2026 data | |
| ☐ | Confirm total net profit is unchanged before and after | |
| ☐ | Review the cash flow statement (PSAK 207) | |
| F. People and governance | ||
| ☐ | Train accounting, finance, and IT | |
| ☐ | Brief management and the board | |
| ☐ | Review with auditors | |
| ☐ | Assign process owners and monitoring cadence | |
3. Seven Readiness Questions
- Can we explain, for every account, why it belongs to a given category?
- Is our operating profit calculated only from the operating category?
- Are FX differences separated by activity?
- Are all MPMs used publicly registered?
- Can MPM reconciliations be traced back to the statements?
- Can 2026 reports be restated without changing net profit?
- Do non-accounting teams understand why operating figures may change?
If any answer is “not yet,” that is your priority.
4. Common Pitfalls
- Waiting until 2027 — comparatives still have to be presented.
- Only changing report titles — without mapping accounts, results will be inconsistent.
- Assuming Odoo is automatically compliant — configuration and testing are still required.
- Building a whole new COA — when mapping may already be enough.
- Forgetting non-accounting stakeholders — management must understand the change in figures.
Closing
This checklist is not something to finish overnight. But every item checked now reduces risk in 2027. Start with the highest impact: account mapping and report testing.
Need help preparing this checklist in Odoo? Talk to the Sinergi Data Totalindo (SDT) Team.
Note: this article refers to the official PSAK 118 text. The checklist is practical and should be tailored to the entity. Classification decisions still require accounting judgment and review by practitioners/auditors. Written by Sinergi Data Totalindo, PT.