PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 22
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
p. Financial assets and liabilities continued Financial liabilities continued
There are no financial liabilities categorised as held for trading except for derivative payables. Gain and losses arising from changes in the fair value of derivatives that are managed in
conjunction with designated financial liabilities are included in “foreign exchange gainloss”. ii
Financial liabilities measured at amortised cost Financial liabilities that are not classified as at fair value through profit and loss fall into this
category and are measured at amortised cost. Financial liabilities measured at amortised cost are other payables, accrued expenses, loans and bonds.
Fair value estimation
The fair value of financial instruments traded in active markets is determined based on quoted market prices at the balance sheet date. The quoted market price used for financial assets held by
the Company is the current bid price. While for financial liabilities it uses offer price.
The fair value of financial instruments that are not traded in active markets is determined by using valuation technique. The Company uses discounted cashflows methods and makes assumptions
that are based on market conditions existing at each balance sheet date which are used to determine fair value for the remaining financial instruments.
q. Earningloss per share
Basic earningloss per share is calculated by dividing net incomeloss by the weighted average number of ordinary shares outstanding during the year.
Diluted earningloss per share is calculated by dividing net incomeloss by the weighted average number of ordinary shares outstanding during the year, adjusted to assume conversion
of all potential dilutive ordinary shares.
r. Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the consolidated financial statements in the period in which the dividends are approved by the
Company’s shareholders.
s. Use of estimates
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in Indonesia requires the management to use of estimates and assumptions
that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as at the date of the consolidated financial statements, and the reported amounts of
revenues and expenses during the reporting period. Actual results could differ from those estimates.
PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 23
3. CORRECTION OF THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE
THREE-MONTH PERIOD ENDED 31 MARCH 2009 The consolidated financial statements as at and for the three-month period ended 31 March 2009
were restated to reflect the adjustments to the accounting for the finance lease transactions. Due to misinterpretation of facts, gain on finance lease transactions for the three-month period ended
31 March 2009 was understated by Rp 115 billion. This misinterpretation had the effect of understating and overstating of the following line items in the consolidated financial statements as at
and for the three-month period ended 31 March 2009.
31032009 Before
After Restatement
Restatement Difference
Consolidated balance sheets Other assets - current
80,279 105,552
25,273 Other assets - non current
1,733,576 1,826,766
93,190 Deferred tax liabilities
454,545 484,161
29,616
Consolidated statements of income Gain on finance lease transaction
333,149 448,475
115,326 Other expensesincome
46,623 49,760
3,137 Income tax expensebenefit
99,084 69,468
29,616 Net incomeloss
306,068 217,221
88,847 Earningloss per share
Basic 43
31 12
Diluted 43
31 12
4. CASH AND CASH EQUIVALENTS
31122007 31122008
31122009 31032009
3103 2010 Cash on hand
1,463 1,583
1,434 1,468
1,185
Cash in bank
Rupiah - PT Bank Permata Tbk
927 3,331
3,834 50,752
276,467 - Standard Chartered Bank
- 30
4,049 -
173,059 - PT Bank Central Asia Tbk
28,979 18,837
12,068 13,710
32,481 - J .P.Morgan Chase Bank, N.A.
46,541 28,684
12,559 21,942
21,960 - Deutsche Bank AG
5,038 3,177
5,297 224,034
19,145 - PT Bank Mandiri Persero Tbk
4,764 1,832
3,625 1,315
2,836 - PT Bank Negara Indonesia
Persero Tbk 4,853
1,603 1,800
616 1,639
- PT Bank Bukopin Tbk 539
1,411 189
4,009 291
- Others individual amount less than Rp 3,000
6,516 3,700
1,779 3,599
3,880 US Dollar
- J .P.Morgan Chase Bank, N.A. 7,458
3,033 18,045
70,344 40,139
- Standard Chartered Bank 54
74 57,277
53 139
- PT Bank Mandiri Persero Tbk -
- 9
- 9
105,669 65,712
120,531 390,374
572,045
Time deposits
maturing within three months Rupiah
- PT Bank UOB Indonesia 100,000
- 100,000
- 400,000
- PT Bank OCBC NISP Tbk formerly PT Bank NISP Tbk
- -
- 200,000
- - Deutsche Bank AG
67,000 53,000
50,000 -
- - PT Bank DBS Indonesia
180,000 -
- -
- - PT Bank Central Asia Tbk
- 113,908
- -
-