RECLASSIFICATION OF ACCOUNTS SUBSEQUENT EVENTS
36. FINANCIAL ASSETS AND LIABILITIES continued
Credit risk continued The following table sets out the maximum exposure of credit risk and concentration risk of the Company: Credit Risk Concentration Corporate Others Maximum exposure Trade receivables 575,329 121,153 696,482 Other receivables - 17,101 17,101 Derivative receivables - 50,125 50,125 Other assets 332,604 - 332,604 907,933 188,379 1,096,312 The above table represents a maximum of credit risk exposure to the Company at 31 March 2010. The exposures set out above are based on net carrying amounts as reported in the balance sheet. Liquidity risk Liquidity risk arises in situations where the Company has difficulties in obtaining funding. Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents. The Company manages liquidity risk by continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. Management is confident in its ability to continue to control and sustain minimal exposure of credit risk given that the Company have provided sufficient allowance for doubtful accounts to cover incurred losses arising from uncollectible receivables based on existing historical loss. Fair value of financial assets and liabilities Fair value is the amount for which an asset could be exchanged, or a liability settled, in an arms- length transaction basis. The table below sets out the carrying amounts and fair value of those financial assets and liabilities not presented on the Company’s balance sheets at their fair values: 31032010 Carrying Value Fair Value Long-term loans 11,608,776 11,668,699 Long-term bonds 1,496,723 1,492,973 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 6736. FINANCIAL ASSETS AND LIABILITIES continued
Fair value of financial assets and liabilities continued The fair value of long-term loans are estimated by using discounted cash flows applying the effective interest rate charged by the lenders for the last utilisation in each currency borrowings. The fair value of long-term bonds is estimated by using the last quoted market price.37. NEW ACCOUNTING STANDARDS
The Indonesian Institute of Accountants issued the following revised accounting standards which are applicable for financial statement covering periods beginning on or after 1 January 2011: - SFAS 1 Revised 2009 - Presentation of Financial Statements - SFAS 2 Revised 2009 - Statement of Cash Flows - SFAS 4 Revised 2009 - Consolidated and Separate Financial Statements - SFAS 5 Revised 2009 - Operating Segments - SFAS12 Revised 2009 - Interests in Joint Ventures - SFAS 15 Revised 2009 - Investmens in Associates - SFAS 25 Revised 2009 - Accounting Polices, Changes in Accounting Estimates and Errors - SFAS 48 Revised 2009 - Impairment of Assets - SFAS 57 Revised 2009 - Provision, Contigent Liabilities and Contigent Assets - SFAS 58 Revised 2009 - Non-current Assets Held for Sale and Discontinued Operations The Company is still evaluating the possible impact of these standards on the consolidated financial statements.Parts
» Company’s Public Offerings continued
» Investment license GENERAL continued
» Investment license continued Operating license
» Operating licence continued GENERAL continued
» Board of Directors, Commissioners and Audit Committee
» Board of Directors, Commissioners and Audit Committee continued
» Basis for preparation of the consolidated financial statements
» Principles of consolidation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Related party transactions SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Recognition of revenues and expenses i
» Trade receivables SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Inventories SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Leases SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Leases continued i SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Fixed assets and depreciation
» Fixed assets and depreciation continued
» Intangible assets SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Loans Bond and share issue costs
» Derivative financial instruments SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Derivative financial instruments continued
» Foreign currency translation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Taxation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Taxation continued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Employee benefits Short-term employee benefits
» Employee benefits continued Post-employment benefits continued
» Financial assets and liabilities
» Financial assets and liabilities continued
» Financial assets and liabilities continued Financial liabilities continued
» Earningloss per share SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Dividends SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Use of estimates SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» CORRECTION OF THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE
» CASH AND CASH EQUIVALENTS continued
» TRADE RECEIVABLES - THIRD PARTIES
» TRADE RECEIVABLES - THIRD PARTIES continued
» ADVANCES AND PREPAYMENTS Daftar Laporan Audit
» OTHER ASSETS Daftar Laporan Audit
» FIXED ASSETS Daftar Laporan Audit
» FIXED ASSETS continued Daftar Laporan Audit
» SHORT-TERM LOANS Daftar Laporan Audit
» DEFERRED REVENUE LONG-TERM LOANS
» LONG-TERM LOANS continued Daftar Laporan Audit
» LONG-TERM LOANS continued LONG-TERM BONDS
» LONG-TERM BONDS continued PROVISIONS
» Estimated liabilities for assets restoration
» Post-employment benefits PROVISIONS continued
» SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL
» SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL continued
» APPROPRIATED RETAINED EARNINGS EARNINGLOSS PER SHARE
» EARNINGLOSS PER SHARE continued
» REVENUE Daftar Laporan Audit
» INFRASTRUCTURE EXPENSES Daftar Laporan Audit
» INTERCONNECTION AND TELECOMMUNICATIONS SERVICE CHARGES
» SALES AND MARKETING EXPENSES
» SALARIES AND EMPLOYEE BENEFITS
» Corporate income tax expensesbenefit continued
» Deferred tax liabilities TAXATION continued
» Deferred tax liabilities continued
» Tax assessments 2001 fiscal year
» Tax assessments continued 2004 fiscal year
» Nature of transactions and relationships with related parties continued Cash and cash equivalents
» Trade receivables RELATED PARTY INFORMATION continued
» Other receivables RELATED PARTY INFORMATION continued
» Revenue RELATED PARTY INFORMATION continued
» Revenue continued RELATED PARTY INFORMATION continued
» Interconnection charges RELATED PARTY INFORMATION continued
» Other telecommunications service costs
» Rental expense RELATED PARTY INFORMATION continued
» Service expense RELATED PARTY INFORMATION continued
» Salaries and allowances for Board of Directors and Commissioners
» Operating lease commitments COMMITMENTS
» DERIVATIVE INSTRUMENTS Daftar Laporan Audit
» DERIVATIVE INSTRUMENTS continued Daftar Laporan Audit
» CONTINGENCY Daftar Laporan Audit
» TARIFF SYSTEM Daftar Laporan Audit
» General purchase agreement with Ericsson AB
» Maintenance agreements and installation agreement with PT Ericsson Indonesia
» System implementation and integration agreement with AMDOCS
» System implementation and integration agreement with AMDOCS continued
» Supply, installation and maintenance agreement with PT Huawei Tech Investment “HTI”
» Equipment supply, maintenance and installation agreement with PT Alita Praya Mitra
» Fibre optic cable installation along the railroad in Java island and land lease to build
» Interconnection agreements SIGNIFICANT AGREEMENTS WITH THIRD PARTIES continued
» International roaming agreements SIGNIFICANT AGREEMENTS WITH THIRD PARTIES continued
» Leased line agreements SIGNIFICANT AGREEMENTS WITH THIRD PARTIES continued
» Consortium agreement, Palapa Ring Construction and Maintenance
» Master Tower Lease Agreement
» Fiber optics lease agreement
» National roaming agreement SIGNIFICANT AGREEMENTS WITH THIRD PARTIES continued
» Joint construction of submarine fiber optic link agreement
» MONETARY ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES
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