PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 515 1. GENERAL continued
h. Structure and Management continued
As at 31 December 2014 and 2013, the Risk Monitoring and Good Corporate Governance Committee Bank Mandiri are as follows:
2014 2013
Chairman, concurrently as member : Anton Hermanto Gunawan
Pradjoto Member
: Pradjoto Edwin Gerungan
Member : Krisna Wijaya
Krisna Wijaya Member
: Abdul Aziz Tama Widjaja
Member : Ridwan Darmawan Ayub
- Member
: Budi Sulistio -
Secretary ex-officio : Lisana Irianiwati
Lisana Irianiwati As at 31 December 2014 and 2013, Head of Internal Audit Bank Mandiri is Riyani T. Bondan.
As at 31 December 2014, Corporate Secretary Bank Mandiri is Rohan Hafas 2013: Nixon L.P Napitulu.
As at 31 December 2014 and 2013 Bank Mandiri has a total of 34,696 employees and 33,982 employees unaudited, respectively.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Bank and Subsidiaries “Group” were authorised by the Board of Directors on 2 February 2015.
The principal accounting policies adopted in preparing the consolidated financial statements of the Bank and Subsidiaries are set out below:
The consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards, and the Capital Market Supervisory Agency and Financial Institution
Bapepam and LK regulation No. VIII.G.7 Attachment of the Chairman of Bapepam and LK’s decree No. KEP-347BL2012 dated 25 June 2012, regarding “Financial Statements Presentation and
Disclosure for Issuer or Public Companies”.
a. Basis of Preparation of the Consolidated Financial Statements
The consolidated financial statements have been prepared under the historical cost, except for financial assets classified as available for sale, financial assets and liabilities held at fair value
through profit or loss and all derivative instruments which have been measured at fair value. The consolidated financial statements are prepared under the accrual basis of accounting, except for
the consolidated statements of cash flows.
Consolidated statements of cash flows are prepared using the direct method by classifying cash flows in operating activities, investing and financing activities.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 516 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES lanjutan
a. Basis of Preparation of the Consolidated Financial Statements lanjutan
The financial statements of a Subsidiary company engaged in sharia banking have been prepared in conformity with the Statement of Financial Accounting Standards SFAS 101
Revised 2011, “Presentation of Financial Statement for Sharia Banking”, SFAS 102 Revised 2013 “Accounting for Murabahah”, SFAS 104 “Accounting for Istishna”, SFAS 105 ”Accounting
for Mudharabah”, SFAS 106 “Accounting for Musyarakah”, SFAS 107 “Accounting for Ijarah”, SFAS 110 “Accounting for Sukuk” and other Statements of Financial Accounting Standards of
Accountants, as long as not contradict with Sharia principle also Accounting Guidelines for Indonesian Sharia Banking PAPSI Revised 2013.
The preparation of financial statements in accordance with Indonesian Financial Accounting Standards requires the use of estimates and assumptions. It also requires management to make
judgments in the process of applying the accounting policies the Group. The area that is complex or requires a higher level of consideration or areas where assumptions and estimates could have
a significant impact on the consolidated financial statements are disclosed in Note 3.
All figures in the consolidated financial statements, are rounded and presented in million rupiah Rp unless otherwise stated.
b. Changes in accounting policies
On 1 January 2014, Subsidiary operates in Sharia changed its accounting policies in accordance with SFAS 102 Revised 2013 and PAPSI 2013, The changes were as follows:
1. For Murabahah, Subsidiary evaluate whether there is an objective evidence that the individually significant financial assets or group of financial assets are impaired at each
statement of financial position date as a result of an event occurred after initial recognition which impact the estimated future cash flows that can be reliably estimated. Impairment is
recognised as allowance and charged to the statement of consolidated comprehensive income for the current year. The individual assessment is performed on the individually significant
impaired financial assets, using discounted cash flow method.
For the collective impairment, as allowed under SFAS 102 Revised 2013, Bank Indonesia’s circular letter No, 1526Dpbs dated 10 July 2013 and Otoritas Jasa Keuangan OJK No. S-
129PB.132014 dated 6 November 2014, for the first adoption, the Subsidiary could apply transition rule for collective impairment in accordance with prevailing Bank Indonesia’s
regulation. The transition rule can be applied at the latest until 31 December 2014.
2. Directly attributable income and expenses relating to financing receivables which are recognised as part of financing assets and will be recognised as income or expense by
amortising the carrying value of financing receivable using the effective interest rate. Before 1 January 2014, directly attributable income and expenses are recognised into consolidated
statement of comprehensive income as incurred.
c. Financial instruments A. Financial assets
The Group classifies its financial assets in the following categories of a financial assets at fair value through profit and loss, b loans and receivables, c held-to-maturity financial
assets, and d available-for-sale financial assets. The classification depends on the purpose for which the financials assets were acquired. Management determines the classification of
its financial assets at initial recognition.
