PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 515 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
b. Changes in accounting policies in current year continued
b.ii. IFAS No. 10, “Customer Loyalty Program” Customer loyalty program are used by entities to provide customers with incentives to buy their
goods or services. If a customer buys goods or services, the entity grants the customer award credits often described as ‘points’. The customer can redeem the award credits for awards
such as free or discounted goods or services. This Interpretation applies to customer loyalty award credits that:
• an entity grants to its customers as part of a sales transaction, i.e. a sale of goods, rendering of services or use by a customer of entity assets; and
• subject to meeting any further qualifying conditions, the customers can redeem in the future for free or discounted goods or services.
At end of reporting period, loyalty award are recognised as expenses based on its fair value. Prior to 1 January 2011, cost related to customer loyalty program is recognized on cash basis.
b.iii. SFAS 5 Revised 2009, “Operating Segments” Starting 1 January 2011, the Group presents operating segment based on the Group’s internal
report that presented to the chief operating decision-maker in accordance with SFAS 5 Revised 2009. The chief operating decision-maker is Board of Directors.
Prior to 1 January 2011, the Group disclosed the operating segment based on nature of business that consists of: banking, sharia banking, securities, insurance, financing, remittances
and others.
The comparative information has been restated to comply with the standard refer to Note 52. b.iv. SFAS 25 Revised 2009 – “Accounting Policies, Changes in Accounting Estimates and Errors”
Allowance for impairment losses on financial guarantee contracts and commitments Starting from 1 January 2011, the Bank determines allowance for possible losses on financial
guarantee contracts with credit risk and commitments at the higher of unamortised amount carrying amount and the present value of any expected payment when a payment under the
guarantee has become probable or allowance for impairment losses calculated based on historical loss data for collective impairment assessment.
Prior to 1 January 2011, the Bank assess the allowance for possible losses on guarantee contracts with credit risk and commitments based on
Bank Indonesia Regulation No. 72PBI2005 dated 20 January 2005 and in accordance with Letter from Bank Indonesia No.
12516DPNPIDPnP dated 21 September 2010.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 516 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
b. Changes in accounting policies in current year continued
