PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5146 59. GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS
continued
Based on the LPS Regulation No. 1PLPS2006 dated 9 March 2006 regarding the Deposit Guarantee Program, the amounts guaranteed for each of the customer in one bank is a maximum of
Rp100,000,000 full amount.
Based on Government Regulation PP Number 66 Year 2008 about the Amounts of Deposit Guaranteed under the Deposit Guarantee Program, the deposit amounts of each customer in one bank
that is guaranteed by the Government of the Republic of Indonesia was increased to Rp2,000,000,000 full amount from Rp100,000,000 full amount, effective on 13 October 2008.
Based on the Law of the Republic of Indonesia No. 7 in 2009, Government Regulation in Replacement of Law on Deposit Guarantee Agency has been set into an official Law since 13 January 2009.
60. NEW ACCOUNTING STANDARDS
Financial Accounting Standard Board of Indonesian Institute of Accountants DSAK-IAI has withdrawn the following accounting standards which will be effective as at 1 January 2010:
- PPSAK 2: Withdrawal of SFAS 41 – Accounting for Warrants and SFAS 43 – Accounting for
Factoring, -
PPSAK 3: Withdrawal of SFAS 54 – Accounting for Troubled Debt Restructuring, -
PPSAK 4: Withdrawal of SFAS 31 revised 2000 – Accounting for Banking, SFAS 42 – Accounting for Securities Companies and SFAS 49 – Accounting for Mutual Funds,
- PPSAK 5: Withdrawal of ISAK 06 – Interpretation of paragraph 12 and 16 SFAS No. 55 1999
regarding Embedded Derivative Instruments in Foreign Currency Contracts. DSAK-IAI has issued revision of the followings accounting standards which are applicable for financial
statements covering periods beginning on or after 1 January 2010: -
SFAS 26 revised 2008 - Borrowing cost There is no impact for the implementation of the above revised standard on the Bank’s financial
statement. -
SFAS 50 revised 2006 - Financial Instruments: Presentation and Disclosures effective for financial reporting periods beginning on or after 1 January 2009.
- SFAS 55 revised 2006 - Financial Instruments: Recognition and Measurement effective for
financial reporting periods beginning on or after 1 January 2009. On 30 December 2008, DSAK-IAI has announced the postponement of the application of SFAS 50
revised 2006 and SFAS 55 revised 2006 for a year by mail No. 1705DSAKIAI12-2008, therefore SFAS 50 revised 2006 and SFAS 55 revised 2006 will apply to financial reporting periods beginning
on or after 1 January 2010.
In July 2009, DSAK-IAI also has issued a Technical Bulletin No. 4 of the Early Implementation of the Transitional Provisions SFAS 50 revised 2006 and SFAS 55 revised 2006.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5147 60. NEW ACCOUNTING STANDARDS continued
DSAK-IAI has also issued revision of the followings accounting standards which are applicable for financial statements covering periods beginning on or after 1 January 2011:
- SFAS 1 revised 2009 – Presentation of Financial Statements,
- SFAS 2 revised 2009 – Statements of Cashflows,
- SFAS 4 revised 2009 – Consolidated and Separate Financial Statements,
- SFAS 5 revised 2009 – Operating Segments,
- SFAS 12 revised 2009 – Interest in Joint Ventures,
- SFAS 15 revised 2009 – Investment in Associates,
- SFAS 25 revised 2009 – Accounting Policies, Changes in Accounting Estimates and Errors,
- SFAS 48 revised 2009 – Impairment of Assets,
- SFAS 57 revised 2009 – Provisions, Contingent Liabilities and Contigent Assets,
- SFAS 58 revised 2009 – Non-Current Assets Held for Sale and Discountinued Operations,
- Interpretation of SFAS 7 revised 2009 – Consolidation of Special Purpose Entities,
- Interpretation of SFAS 9 – Changes in Existing Decommissioning, Restoration and Similar
Liabilities, -
Interpretation of SFAS 10 – Customer Loyalty Program, -
Interpretation of SFAS 11 – Distribution of Non-Cash Assets to Owners, -
Interpretation of SFAS 12 – Jointly Controlled Entities: Non-monetary Contributions by Ventures. Bank and its Subsidiaries are evaluating the impact of the implementation of these revised standard on
the consolidated financial statements.
61. INTERNATIONAL FINANCIAL REPORTING STANDARDS RECONCILIATION
