PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
121
52. SUBSEQUENT EVENTS
a. On October 13, 2008, based on BAPEPAM-LK Regulation No. XI.B.3 Attachment Decision of the Chairman of BAPEPAM-LK No. Kep-401BL2008 dated October 9, 2008 concerning the Stock
Repurchase of Stock Issued by the Public Company on Potential Crisis Market Condition, the Company has informed the full disclosure statement in relation with the Company’s plan to
conduct stock repurchase program of the Company’s stock which has been issued and listed in IDX up to 20 of its issued and paid up capital with total cost not to exceed Rp.3,000,000 million
which will be conduct gradually within the acquisition period that would not be longer than 3 months October 13, 2008 to January 12, 2009.
b. On October 28, 2008, Telkomsel’s appeal to the Tax Court for the remaining balances of rejection of withholding taxes article 23 and 26 Note 38f.a was accepted by the Tax Court with a total
refund of Rp.114.8 billion.
53. RECENT ACCOUNTING PRONOUNCEMENTS IN INDONESIA
The recent accounting pronouncement in Indonesia that relevant to the Company and its subsidiaries are as follow:
i PSAK 50 Revised 2006, “Financial Instruments: Presentation and Disclosures”
In December 2006, the DSAK issued PSAK 50 Revised 2006, “Financial Instruments: Presentation and Disclosures” which amends PSAK 50, “Accounting for Investments in Certain
Securities”. PSAK 50 Revised 2006 provides guidance on how to disclose and present financial instruments in the financial statements and whether a financial instrument is a financial liability or
an equity instrument. This standard applies to the classification of financial instruments, from the perspective of the issuer, into financial assets, financial liabilities and equity instruments; the
classification of related interest, dividends, losses and gains; and the circumstances in which financial assets and financial liabilities should be offset. PSAK 50 Revised 2006 complements
the principles for recognizing and measuring financial assets and financial liabilities in PSAK 55 Revised 2006. PSAK 50 Revised 2006 shall be effective after January 1, 2009. The
Company and its subsidiaries are currently assessing the impact of the application of PSAK 50 Revised 2006 on the consolidated financial statements.
ii PSAK 55 Revised 2006, “Financial Instruments: Recognition and Measurement” In December 2006, the DSAK issued PSAK 55 Revised 2006, “Financial Instruments:
Recognition and Measurement” which amends PSAK 55 Revised 1999, “Accounting for Derivative Instruments and Hedging Activities”. PSAK 55 Revised 2006 provides guidance on
how to recognize, measure and derecognize financial asset and liability including derivative instruments. It also provides guidance on the recognition and measurement of sales and
purchase contracts of non-financial items. PSAK 55 Revised 2006 shall be effective after January 1, 2009. The Company and its subsidiaries are currently assessing the impact of the
application of PSAK 55 Revised 2006 on the consolidated financial statements.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
122
53. RECENT ACCOUNTING PRONOUNCEMENTS IN INDONESIA continued
iii Interpretation on Indonesian Statement of Financial Accounting Standards “ISAK” 8, “Determining Whether an Arrangement Contains a Lease and Further Discussion on Transitional
Provisions of PSAK 30 Revised 2007” In September 2008, the DSAK issued ISAK 8, “Determining Whether an Arrangement Contains a
Lease and Further Discussion on Transitional Provisions of PSAK 30 Revised 2007”. ISAK 8 provides guidance on how to determine whether and when an arrangement contains a lease and
how to separate the payment for the lease from payments for any other elements in the arrangement. It also provides interpretation on transitional provision of PSAK 30 Revised 2007.
ISAK 8 shall be effective after January 1, 2008. The Company and its subsidiaries are currently assessing the impact of the application of ISAK 8 on the consolidated financial statements.
54. ACCOUNTS RECLASSIFICATION
Certain accounts in the consolidated financial statement for the nine months period ended September 30, 2007 has been reclassified to conform with the presentation of accounts of the
consolidated financial statement for the nine months period ended September 30, 2008, as follows:
Before After
reclassification Reclassification reclassification Consolidated balance sheet:
Accrued expenses 2,546,973
106,771 2,653,744
Accrued long service awards 246,583
179,840 66,743
Accrued pension and other post-retirement benefits costs
948,589 73,069
1,021,658
Consolidated income statement:
Interconnection revenues 8,760,988
617,344 9,378,332
Interconnection expenses
see Note below
1,640,124 617,344
2,257,468
Presentation of interconnection expenses account in consolidated financial statements for the nine months period ended September 30, 2007 has been reclassified to operating revenues as a deduction to interconnection revenues in consolidated
financial statements for the nine months period ended September 30, 2008.
