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The Importance of Compliance with PSAK 74 in the Insurance Industry

In Indonesia, the Financial Accounting Standards Statement (PSAK) 74 plays a key role in setting financial reporting standards for insurance contracts. PSAK 74 is designed to ensure transparency, consistency, and compliance in recognizing, measuring, presenting, and disclosing information related to insurance contracts.


In the business environment, complying with PSAK 74 can be a challenge for insurance companies. PT. DENTSU SOKEN INDONESIA offers an effective solution called Hamilton to meet these requirements more easily.

 

Why is PSAK 74 Important?



PSAK 74 regulates the principles and procedures necessary for accurate and transparent financial reporting in the insurance industry. This includes recognizing, measuring, presenting, and disclosing information related to insurance contracts. Compliance with PSAK 74 is important to ensure that financial statements reflect the true financial position and provide relevant information to stakeholders.

 

Addressing the Challenges of PSAK 74

Hamilton is a pre-configured solution designed to meet the requirements of PSAK 74. With Hamilton, insurance companies can manage their financial reporting more easily and efficiently. This solution allows companies to avoid complexity in configuration, as Hamilton is ready to use and has been tailored to the requirements of PSAK 74.

 

Benefits of Using the Hamilton Solution



Using Hamilton to comply with PSAK 74 offers many benefits, including:

  1. Preconfigured solution for PSAK 71/72/73/74.

  2. Implemented in several companies in Indonesia and overseas.

  3. Features for Predictive Accounting.

  4. Flexibility in license scheme: Perpetual Model (valid forever) Subscription Model - Monthly based

 

With Hamilton, insurance companies can more effectively address the challenges of PSAK 74. By providing a ready-to-use and customized solution, Hamilton helps companies achieve better compliance and strengthen their position in the competitive insurance industry.


For more information about Hamilton and how this solution can help your company, visit our website at www.id.dentsusoken.com/psak74.

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