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Laporan Tahunan 2012 • Annual Report 2012 • PT. ERATEX DJAJA Tbk
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Laporan Tahunan 2012 • Annual Report 2012 • PT. ERATEX DJAJA Tbk
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
o. Taxation continued
The amounts of additional tax principal and penalty imposed through a Tax Assessment Letter “SKP” shall be recognized as income or expense in the current period of the consolidated statement of comprehensive income, unless further settlement
is submitted. The amounts of tax principal and penalty imposed through SKP are deferred as long as they meet the asset recognition criteria.
Indonesian tax regulations do not apply a concept of consolidated tax returns. Otherwise, the tax balances in the consolidated financial statements represent the combination of the Entity’s and its Subsidiaries tax position.
p. Employee Benefit Liabilities
Effective on January 1, 2012, the Entity adopted PSAK No. 24 Revised 2010, “Employee Benefits”. The revised PSAK permit an entity to adopt any systematic method that results in faster recognition of actuarial gainslosses, which among others, is
immediate recognition of actuarial gainslosses in the period in which they occur in other comprehensive income. The Entity decided to retain its previous method in accounting the actuarial gainlosses i.e. the 10 corridor method.
The Entity provide defined post-employment benefits to their employees in accordance with Labor Law No. 132003. No funding has been made to this defined benefit plan.
The cost of providing post-employment benefits is determined using the Projected Unit Credit method. The accumulated unrecognized actuarial gains or losses that exceed 10 of the present value of the defined benefit obligations at the
beginning of the reporting period is recognized on a straight-line basis over the expected average remaining working lives of the participating employees. Past service cost is recognized immediately to the extent that the benefits are already vested,
and otherwise is amortized on a straight-line method over the average period until the benefits become vested.
The benefit obligation recognized in the consolidated statements of financial position represents the present value of the defined benefit obligation, as adjusted for unrecognized actuarial gains or losses and unrecognized past service cost.
q. Non-current assets held for sale and discontinued operations
In accordance with PSAK No. 58 Revised 2009, non-current assets and disposal groups classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell. Non-current assets and disposal groups are
classified as held for sale if their carrying amounts will be recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset or disposal group is
available for immediate sale in its present condition. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within one year from the date of classification. Fixed assets and intangible
assets once classified as held for sale are not depreciated or amortized.
In the consolidated statement of comprehensive income of the reporting period, and of the comparable period of the previous year, income and expenses from discontinued operations are reported separately from income and expenses from
continuing operations, down to the level of profit after taxes, even when the Entity retains a non-controlling interest in the subsidiary after the sale.
r. Basic Earnings Per Share
Effective on January 1, 2012, the Entity applied PSAK No. 56 Revised 2011 “Earnings Per Share”, which replaces PSAK No. 56 Earnings Per Share. Based on PSAK No. 56 Revised 2011 “Earnings Per Share”, Earnings per share is computed by
dividing the profit attributable to the equity holders of the parent by the weighted average number of shares outstanding during the period. Earnings per share calculations are based on 146.312.474 shares, 118,267,864 shares and 98,236,000
shares for the year ended December 31, 2012, 2011 and 2010.
s. Segment Information
In accordance with PSAK No. 5 Revised 2009,Operating Segments, business segments provide information of products or services that are subjected to risks and returns that are different from those of other business segments. Geographical
segments provide information of products or services within a particular economic environment that are subject to risks and returns that are different from those of components operating in other economic environments.
Revenue, expense, assets and liabilities segments are determined before intra-group balances and transactions within the group are eliminated as part of the consolidation process.
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t. Quasi-reorganization
