The Minister of Finance (“ Minister ”) recently issued Regulation No. 116/PMK/05/2020 of 2020 (“ Regulation 116/2020 ”), which updates guidelines for the accounting and financial reporting of state-owned property (badan milik negara– “ BMN ”) originating from the implementation of cooperation contracts for upstream oil-and-gas business activity. [1]

New Accounting and Financial Reporting Guidelines for State-Owned Property Originating from Upstream Oil-and-Gas Business Activities Introduced
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