CRITICAL ACCOUNTING JUDGMENTS AND

NOTES TO FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 AND THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 AND JANUARY 1, 2010DECEMBER 31, 2009 Continued Pertimbangan Kritis dalam Penerapan Kebijakan Akuntansi Critical Judgments in Applying Accounting Policies Di bawah ini adalah pertimbangan kritis, selain dari estimasi yang telah diatur, dimana manajemen telah membuat suatu proses penerapan kebijakan akuntansi Bank. Below are the critical judgments, apart from those involving estimations, in which the managements has made in the process of applying the Bank’s accounting policies. Investasi pada sukuk yang diukur pada biaya perolehan Investments in sukuk measured at cost Manajemen telah menelaah investasi pada sukuk yang diukur pada biaya perolehan sesuai dengan model usaha yang bertujuan untuk memperoleh arus kas kontraktual didasarkan pada tujuan investasi Bank. Rincian dan jumlah tercatat investasi pada sukuk yang diukur pada biaya perolehan dijelaskan dalam Catatan 8. The management has reviewed the Bank’s investments in sukuk measured at cost in accordance with the Bank’s business model that is intended to obtain contractual cash flows based on the Bank’s investment purpose. Details and the carrying amount of investments in sukuk measured at cost are described in Note 8. Sumber Estimasi Ketidakpastian Key Sources of Estimation Uncertainty Asumsi utama mengenai masa depan dan sumber estimasi ketidakpastian utama lainnya pada akhir periode pelaporan, yang memiliki risiko signifikan yang mengakibatkan penyesuaian material terhadap jumlah tercatat aset dan liabilitas dalam periode pelaporan berikutnya dijelaskan di bawah ini: The key assumptions concerning future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: Rugi Penurunan Nilai Piutang Murabahah Impairment Loss on Murabahah Receivables Bank menilai penurunan nilai piutang Murabahah pada setiap tanggal pelaporan. Dalam menentukan apakah rugi penurunan nilai harus dicatat dalam laba rugi, manajemen membuat penilaian, apakah terdapat bukti obyektif bahwa kerugian telah terjadi. Suatu piutang Murabahah dinyatakan mengalami penurunan nilai bila ada bukti obyektif terjadinya peristiwa yang berdampak pada estimasi arus kas atas piutang Murabahah. Bukti tersebut meliputi data yang dapat diobservasi yang menunjukkan bahwa telah terjadi peristiwa yang merugikan dalam status pembayaran debitur atau kondisi ekonomi nasional atau lokal yang berkorelasi dengan kelalaian membayar piutang. The Bank assesses its Murabahah receivables at each reporting date. In determining whether the impairment loss should be recorded in profit or loss, management makes judgement as to whether there is an objective evidence that loss event has occured. Murabahah receivables are considered to be impaired when there is an objective evidence that, as a result of one or more events that occurred after the initial recognition of the Murabahah receivables, the estimated future cash flows of the Murabahah receivable have been affected. The evidence includes observable data which indicates that an adverse event has occurred in the payment status of borrowers or in the national or local economic conditions that correlate with the omission of payment of receivables. Cadangan kerugian penurunan nilai akan dibentuk untuk mengakui kerugian penurunan nilai yang terjadi dalam portofolio piutang Murabahah. Manajemen menggunakan perkiraan berdasarkan pengalaman kerugian historis untuk piutang dengan karakteristik risiko kredit dan bukti obyektif adanya penurunan nilai yang serupa dengan yang ada dalam portofolio pada saat penjadwalan arus kas masa depan. Provision for loss on impairment will be set up to recognize the impairment loss that occurs in a portfolio of Murabahah receivables. Management uses estimates based on historical loss experience for assets with credit risk characteristics and objective evidence of impairment similar to those in the portfolio when scheduling the future cash flows. Manajemen juga membuat penilaian atas metodologi dan asumsi untuk memperkirakan jumlah dan waktu arus kas masa depan yang direview secara berkala untuk mengurangi perbedaan antara estimasi kerugian dan kerugian aktualnya. Management also makes judgement as to the methodology and assumptions for estimating the amount and timing of future cash flows which are reviewed regularly to reduce any difference between loss estimate and actual loss. 206 NOTES TO FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 AND THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 AND JANUARY 1, 2010DECEMBER 31, 2009 Continued Bank melakukan penilaian terhadap penurunan nilai dalam dua cara, yaitu: The Bank performs assessment of the impairment amounts in two ways, namely: a. Individual, dilakukan untuk jumlah piutang Murabahah yang melebihi ambang batas threshold tertentu dan piutang Murabahah yang memiliki bukti obyektif penurunan nilai yang telah teridentifikasi secara terpisah pada tanggal laporan posisi keuangan. Kerugian penurunan nilai adalah selisih antara nilai tercatat dan nilai kini dari estimasi terbaik atas arus kas masa depan dan realisasi agunan pada tingkat effective rate awal dari piutang Murabahah tersebut. Estimasi ini dilakukan dengan mempertimbangkan kapasitas utang dan fleksibilitas keuangan debitur, kualitas pendapatan debitur, jumlah dan sumber arus kas, industri di mana debitur beroperasi dan nilai realisasi agunan. Estimasi jumlah dan waktu pemulihan masa depan akan membutuhkan banyak pertimbangan. Jumlah penerimaan tergantung pada kinerja debitur pada masa mendatang dan nilai agunan, keduanya akan dipengaruhi oleh kondisi ekonomi di masa depan, di samping itu agunan mungkin tidak mudah dijual. Nilai aktual arus kas masa depan dan tanggal penerimaan mungkin berbeda dari estimasi tersebut dan akibatnya kerugian aktual yang terjadi mungkin berbeda dengan yang diakui dalam laporan keuangan. a. Individually, made to the amount of Murabahah receivables that exceed certain threshold and to certain Murabahah receivables that have objective evidence that impairment has been identified separately on the date of statement of financial position. Impairment loss is the difference between the carrying amount and the present value of the best estimated future cash flows and realization of collateral at the initial effective rates of Murabahah receivables. The estimates are made by considering the debt capacity and financial flexibility of the debtor, debtors earnings quality, quantity and source of cash flows, industry in which the debtor operates and realizable value of collateral. Estimating the amount and timing of future recovery will require a lot of considerations. The amount of revenue depends on the performance of the debtor in the future and the value of collateral, both of which will be affected by future economic conditions, in addition to the fact that the collateral may not be easily sold. The actual value and date of receipt of future cash flows may differ from the estimates and as a result, actual loss which occurs may be different from the amount recognized in the financial statements. b. Kolektif, dilakukan untuk jumlah piutang Murabahah yang tidak melebihi ambang batas threshold tertentu, tidak memiliki bukti obyektif penurunan nilai dan piutang Murabahah yang memiliki bukti obyektif penurunan nilai, namun belum diidentifikasi secara terpisah pada tanggal laporan posisi keuangan. Pembentukan kerugian penurunan nilai dilakukan secara kolektif dengan antara lain memperhitungkan jumlah dan lamanya tunggakan, agunan dan pengalaman kerugian masa lalu. Faktor paling penting dalam pembentukan cadangan adalah probability of default dan loss given default. Kualitas piutang Murabahah pada masa mendatang dipengaruhi oleh ketidakpastian yang dapat menyebabkan kerugian aktual piutang Murabahah dapat berbeda secara material dari cadangan kerugian penurunan nilai yang telah dibentuk. Ketidakpastian ini termasuk lingkungan ekonomi, effective rate dan pengaruhnya terhadap pembelanjaan debitur, tingkat pengangguran dan perilaku pembayaran. b. Collectively, made to the amount of Murabahah receivables that do not exceed certain threshold and do not have objective evidence of impairment when assessed individually, and to the Murabahah receivables that have objective evidence of impairment but has not been identified separately on the date of statement of financial position. Establishment of collective impairment loss is made by, among others, taking into account the number and duration of arrears, collateral and past loss experience. The most important factors in establishing reserves are the probability of default and the loss given default. The quality of Murabahah receivables in the future is affected by uncertainties that could cause actual loss on Murabahah receivables, which may differ materially from the impairment loss reserves that have been established. These uncertainties include the economic environment, effective rate and the effect on spending of the debtor, unemployment rate and payment behavior. 207 NOTES TO FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 AND THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 AND JANUARY 1, 2010DECEMBER 31, 2009 Continued Manfaat Karyawan Penentuan liabilitas imbalan kerja tergantung pada pemilihan asumsi tertentu yang digunakan oleh aktuaris dalam menghitung jumlah liabilitas tersebut. Asumsi tersebut termasuk antara lain tingkat diskonto dan tingkat kenaikan gaji. Realisasi yang berbeda dari asumsi Bank diakumulasi dan diamortisasi selama periode mendatang dan akibatnya akan berpengaruh terhadap jumlah biaya serta liabilitas yang diakui di masa mendatang. Walaupun asumsi Bank dianggap tepat dan wajar, namun perubahan signifikan pada kenyataannya atau perubahan signifikan dalam asumsi yang digunakan dapat berpengaruh secara signifikan terhadap liabilitas imbalan pasca kerja Bank. Employee benefits Determination of liability for employee benefits depends on the selection of certain assumptions used by actuaries in calculating the amount of such liability. These assumptions include, among others, the discount rate and the rate of increase in salaries. Different realization of the Bank’s assumptions is accumulated and amortized over future periods and consequently will affect the amount of costs and liabilities recognized in the future periods. Although the assumptions used by the Bank are assessed to be appropriate and fair, significant changes in actual events or significant changes in the assumptions used can significantly affect the Bank’s post-employment benefits liability. 5. PENEMPATAN PADA BANK INDONESIA 5. PLACEMENTS WITH BANK INDONESIA 1 Januari 2010 31 Desember 2009 30 JuniJune 30, January 1, 2010 2013 2012 2011 2010 December 31, 2009 Rp000 Rp000 Rp000 Rp000 Rp000 Fasilitas Simpanan Bank Bank Indonesia Sharia Indonesia Syariah 168.300.000 357.900.000 75.000.000 - - Deposit Facility Giro Wadiah 85.490.370 62.223.793 19.198.443 79.140.445 8.855.524 Wadiah demand deposits Jumlah 253.790.370 420.123.793 94.198.443 79.140.445 8.855.524 Total 31 DesemberDecember 31, Seluruh penempatan pada Bank Indonesia dilakukan dalam mata uang Rupiah. All placements with Bank Indonesia were made in Indonesian Rupiah. Pada tanggal 30 Juni 2013, 31 Desember 2012 dan 2011, jangka waktu Fasilitas Bank Indonesia Syariah masing-masing adalah 3 hari, 5 hari dan 3 hari dengan imbalan sebesar 4,25 per tahun, 4,00 per tahun dan 4,5 per tahun. As of June 30, 2013, December 31, 2012 and 2011, the terms of of Bank Indonesia Sharia Deposit Facility were 3 days, 5 days and 3 days, respectively, with fee of 4.25 per annum, 4.00 per annum and 4.5 per annum, respectively. Perhitungan Giro Wajib Minimum GWM dilakukan sesuai Peraturan Bank Indonesia No. 621PBI2004 tanggal 3 Agustus 2004 yang diubah dengan Peraturan Bank Indonesia No. 823PBI2006 tanggal 5 Oktober 2006 dan No. 1023PBI2008 tanggal 16 Oktober 2008 tentang Giro Wajib Minimum Bank Umum yang Melaksanakan Kegiatan Usaha Berdasarkan Prinsip Syariah dalam Rupiah dan Valuta Asing, dimana setiap bank umum yang melaksanakan kegiatan usaha berdasarkan prinsip syariah di Indonesia diwajibkan mempunyai saldo giro minimum di Bank Indonesia untuk cadangan likuiditas. GWM dalam Rupiah dan Dollar Amerika Serikat ditetapkan masing-masing sebesar 5 dan 1. Calculation of Minimum Statutory Reserves GWM is conducted in accordance with the Bank Indonesia Regulation No. 621PBI2004 dated August 3, 2004 as amended by Bank Indonesia Regulation No. 823PBI2006 dated October 5, 2006 and No. 1023PBI2008 dated October 16, 2008 regarding the Mandatory Minimum Deposit Balances of Commercial Banks Conducting Business Based on Sharia Principles in Rupiah and Foreign Currencies, in which each commercial bank conducting business based on sharia principles in Indonesia are required to maintain minimum deposit balance in Bank Indonesia as liquidity reserves. GWM in Rupiah and United States Dollar are set respectively at 5 and 1. Giro wajib minimum Bank pada tanggal 30 Juni 2013, 31 Desember 2012, 2011 dan 2010 dan 1 Januari 201031 Desember 2009 masing- masing sebesar 5,20, 5,25, 5,42, 26,55, dan 252,97. The required minimum deposit balances of demand deposits with Bank Indonesia on June 30, 2013, December 31, 2012, 2011 and 2010 and January 1, 2010December 31, 2009 each amounted to 5.20, 5.25, 5.42, 26.55 and 252.97, respectively. 208 NOTES TO FINANCIAL STATEMENTS FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2013 AND 2012 AND THE YEARS ENDED DECEMBER 31, 2012, 2011 AND 2010 AND JANUARY 1, 2010DECEMBER 31, 2009 Continued Pada tanggal 30 Juni 2013, 31 Desember 2012, 2011 dan 2010 dan 1 Januari 201031 Desember 2009, Bank telah memenuhi giro wajib minimum yang harus disediakan sesuai dengan ketentuan Bank Indonesia. As of June 30, 2013, December 31, 2012, 2011 and 2010 and January 1, 2010December 31, 2009, the Bank has complied with the required minimum deposit balances under the Bank Indonesia regulation. 6. GIRO PADA BANK LAIN 6. DEMAND DEPOSITS WITH OTHER BANKS Merupakan saldo giro pada bank lain dalam mata uang Rupiah. Represents the balance of demand deposits with other banks in Rupiah. 1 Januari 2010 30 Juni 31 Desember 2009 June 30, January 1, 2010 2013 2012 2011 2010 December 31, 2009 Rp000 Rp000 Rp000 Rp000 Rp000 Pihak berelasi Related party Bank Umum Konvensional Conventional Bank Bank Pan Indonesia 85.061 54.602 178.404 161.914 581.822 Bank Pan Indonesia Pihak ketiga Third parties Bank Umum Konvensional - Conventional Bank - Bank Mandiri 100.170 - - - - Bank Mandiri Bank Syariah Mandiri 6.882 1.100 - - - Bank Syariah Mandiri Jumlah 107.052 1.100 - - - Total Cadangan kerugian Allow ance for impairment penurunan nilai 69 11 - - - losses Bersih 106.983 1.089 - - - Net Jumlah Giro pada Bank Lain - Total Demand Deposits w ith Bersih 192.044 55.691 178.404 161.914 581.822 Other Banks - Net Disajikan kembali Catatan 39 As restated Note 39 31 DesemberDecember 31, Kualitas giro pada bank lain pada tanggal 30 Juni 2013, 31 Desember 2012, 2011 dan 2010 dan 1 Januari 201031 Desember 2009 dikelompokkan lancar. The demand deposits with other banks as of June 30, 2013, December 31, 2012, 2011 and 2010 and January 1, 2010December 31, 2009 are classified as current. Mutasi cadangan kerugian penurunan nilai giro pada bank lain adalah sebagai berikut: The changes in allowance for impairment losses on demand deposits with other banks are as follows: 30 Juni June 30, 2013 2012 2011 2010 Rp000 Rp000 Rp000 Rp000 Saldo aw al 11 - - 5.818 Beginning balance Selisih penurunan nilai sehubungan dengan Difference in impairment penerapan aw al PSAK 55 due to initial adoption of PSAK 55 revisi 2011 - - - 5.818 revised 2011 Penyisihan 58 11 - - Provision Saldo akhir 69 11 - - Ending balance Disajikan kembali Catatan 39 31 DesemberDecember 31, As restated Note 39 Manajemen berpendapat bahwa cadangan kerugian penurunan nilai giro pada bank lain adalah cukup untuk menutup kerugian yang mungkin timbul akibat tidak tertagihnya giro pada bank lain. Management believes that the allowance for impairment losses on demand deposits with other banks is adequate to cover the losses, which might arise from uncollectible demand deposits with other banks. 209