Foreclosed Properties Summary of Significant Accounting and Financial Reporting Policies
z. Financial Guarantee Contracts
Financial guarantee contracts are contracts that require the issuer to make specified payments to reimburse the holder for a loss incurred because a specified debtor defaulted to make payments when due, in accordance with the terms of a debt instrument. Such financial guarantees are given from Group to bank, financial institutions and other institutions on behalf of customers to secure loans and other banking facilities. Financial guarantees are initially recognized in the financial statements at fair value on the date the guarantee was given. The fair value of a financial guarantee at inception is likely to equal the premium received because all guarantees are agreed on arm’s length terms and the initial fair value is amortized over the life of the financial guarantees. Subsequently, these contracts are measured at the higher of amortized amount and the present value of any expected payment when a payment under the guarantee has become probable and the difference is charged to other operating expense in the consolidated statement of comprehensive income. aa. Stock Issuance Costs Stock issuance costs are deducted from the additional paid-in capital portion of the related proceeds from issuance of shares and are not amortized. ab. Revenue and Expense Recognition 1. Recognition of Interest Revenues, Interest Expenses, Sharia Revenue, and Revenue Sharing Distribution Interest Revenue and Interest Expenses Interest income and interest expense for all financial instruments are recognized in the consolidated statement of income on accrual basis using the effective interest rate method. Transaction costs that occur and are directly attributable to the acquisition or issuance of financial instruments not measured at fair value through profit and loss are amortized over the life of financial instruments using the effective interest rate method and recorded as part of interest income for financial assets directly attributable transaction costs, and as part of interest expense related to transaction costs of financial liabilities. If a financial asset or group of similar financial assets in the category are held to maturity, loans and receivables, and available for sale are impaired, the interest income earned after the impairment loss is recognized based on the interest rate used for discounting future cash flows in calculating impairment losses. Revenue and ExpenseProfit Sharing Sharia Revenue consists of income from murabahah sharia, income from muntahiyah bittamlik ijarah lease, and from the results of financing. Murabahah and revenue from ijarah muntahiyah bittamlik are recognized over the contract period on an accrual basis. Revenues for the results of financing are recognized when received or within the period of entitlement based on profit sharing portion agreed.Parts
» Public Offering of the Company’s Shares
» Consolidated Subsidiaries General a.
» Employees, Directors and Commissioners
» Basis of Consolidated Financial Statements Preparation and Measurement
» Adoption of Revised Statements of Financial Accounting Standards Effective January 1, 2012
» Principles of Consolidation and Accounting for Business Combination
» Transactions Among Entities under Common Control
» Foreign Currency Translation Summary of Significant Accounting and Financial Reporting Policies
» Transactions with Related Parties
» Minimum Liquidity Reserve Summary of Significant Accounting and Financial Reporting Policies
» Financial Instruments Summary of Significant Accounting and Financial Reporting Policies
» Consumer Financing Receivables Summary of Significant Accounting and Financial Reporting Policies
» Lease Transaction Summary of Significant Accounting and Financial Reporting Policies
» Factoring Receivables Summary of Significant Accounting and Financial Reporting Policies
» Segregated Funds Net Assets and Contract Liabilities – Unit Link
» Loans Summary of Significant Accounting and Financial Reporting Policies
» Ijarah Assets Summary of Significant Accounting and Financial Reporting Policies
» Investments in Summary of Significant Accounting and Financial Reporting Policies
» Investment Properties Summary of Significant Accounting and Financial Reporting Policies
» Property and Summary of Significant Accounting and Financial Reporting Policies
» Foreclosed Properties Summary of Significant Accounting and Financial Reporting Policies
» Prepaid Expenses Summary of Significant Accounting and Financial Reporting Policies
» Impairment of Non-Financial Assets
» Deposits and Deposits from Other Banks
» Insurance Contracts Summary of Significant Accounting and Financial Reporting Policies
» Loans Received Summary of Significant Accounting and Financial Reporting Policies
» Securities Issued Summary of Significant Accounting and Financial Reporting Policies
» Financial Guarantee Contracts Summary of Significant Accounting and Financial Reporting Policies
» Functional Currency Management Use of Estimates, Judgments and Assumptions
» Classification of Financial Assets and Financial Liabilities
» Financial Assets Not Quoted in Active Market
» Allowance for Impairment of Financial Instruments
» Impairment of AFS Equity Investments
» Lease Commitmens Management Use of Estimates, Judgments and Assumptions
» Fair Value of Financial Assets and Financial Liabilities
» Estimated Useful Lives of Investment Properties and Property, Plant and Equipment
» Assessment of Insurance Contract Liability Life Insurance and Loss Insurance
» Long-term Employee Benefits Management Use of Estimates, Judgments and Assumptions
» Deferred Tax Assets Management Use of Estimates, Judgments and Assumptions
» Time deposits Short-term Investments
» Placements with Bank Indonesia and other banks
» Securities Purchased Under Agreements to Resell
» Consumer Financing Receivables Financial Statement 2012
» Net Investments in Finance Lease
» Factoring Receivables Financial Statement 2012
» Segregated Funds Net Assets - Unit Link
» Premiums and Reinsurance Receivables
» Ijarah Assets Financial Statement 2012
» Securities Agent Receivables Financial Statement 2012
» Other Accounts Receivable Financial Statement 2012
» The Company’s Investments in Shares of Stock
» Subsidiaries’ Investments in shares of stock
» Investment Properties Financial Statement 2012
» Property and Equipment Financial Statement 2012
» Foreclosed Properties Financial Statement 2012
» Other Assets Deposits and Deposits from Other Banks
» Securities Sold Under Agreements to Repurchase
» Insurance Payable Financial Statement 2012
» Premiums Received in Advance Liability for Future Policy Benefits
» Estimated Liability Unearned Premiums and Estimated Liability Claims
» Securities Agent Payables Financial Statement 2012
» Taxes Payable Financial Statement 2012
» Accrued Expenses Medium Term
» Loans Received Financial Statement 2012
» Other Liabilities Financial Statement 2012
» Noncontrolling interest in net assets of the subsidiaries
» Noncontrolling interest in net income losses of the subsidiaries
» Capital Stock Financial Statement 2012
» Additional Paid-in Capital - Net
» Other Equity Components Financial Statement 2012
» Difference in Value Arising from Restructuring Transactions Among Entities Under Common Control
» Cash Dividends Financial Statement 2012
» Insurance Underwriting Income Financial Statement 2012
» Interest Income Financial Statement 2012
» Interest Expense Financial Statement 2012
» General and Administrative Expenses
» Long Term Employee Benefits Liability
» Other Expenses Financial Statement 2012
» Income Taxes Financial Statement 2012
» Earnings Per Financial Statement 2012
» Nature of Relationship and Transactions with Related Parties Nature of Relationship
» Net Monetary Assets and Liabilities Denominated in Foreign Currencies
» Agreements and Financial Statement 2012
» Commitments and Contingencies Financial Statement 2012
» Segment Information Financial Statement 2012
» Financial Risk Management Objectives and Policies
» Subsequent Events Financial Statement 2012
» Other financial information Other Information
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