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Laporan Tahunan 2012 • Annual Report 2012 • PT. ERATEX DJAJA Tbk
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Laporan Tahunan 2012 • Annual Report 2012 • PT. ERATEX DJAJA Tbk
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
g. Financial Instrument continued Financial Assets
• Initial recognition
Financial assets within the scope of PSAK 55 Revised 2011 are classified as financial assets measured at fair value through profit and loss, loans and receivables, held to maturity investments or financial assets available for sale,
whichever is appropriate. The Entity and its Subsidiaries determine the classification of financial assets at initial recognition and, where allowed and appropriate, re-evaluate the classification of those assets at the end of each
financial period.
Financial assets of the Entity and its Subsidiaries include cash and cash equivalents, account receivable and other receivables, financial instruments that do not have the quotation, and current financial assets and other non-current.
• Measurement after initial recognition
The Entity and its Subsidiaries classifies its financial assets in the category loans and receivables. The classification depends on the purpose for which the financial assets were acquired and determined at initial recognitions.
Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determined term of payments that are not
quoted in an active market. Loan and receivables are initially recognised at fair value plus transaction costs and subsequently measured at amortised cost using the effective interest rate method.
Financial Liabilities
• Initial recognition
Financial liabilities within the scope of PSAK 55 revised 2011 could be classified as financial liabilities measured at fair value through profit and loss, loans and debt, or derivatives that are designated as hedging instruments in an effective
hedge, whichever is appropriate. The Entity and its Subsidiaries determine the classification of their financial liabilities at the time of initial recognition.
Financial liabilities at initial recognition are recognized at fair value. In the case of financial liabilities not measured at fair value through income statement, the fair value plus transaction costs that are directly attributable to the acquisition or
issuance of these financial liabilities. Financial liabilities of the Entity and its Subsidiaries include trade account payables and other payables, accrued
expenses, long-term loan, payable from related parties, and other current and non-current financial liabilities. •
Measurement after initial recognition
The Entity and its Subsidiaries classify its financial liabilities as debt and payable. Loan and payable
After initial recognition, loan and interest bearing payable are subsequently measured at amortized cost using the effective interest rate method.
Gains and losses are recognized in the consolidated statements of comprehensive income when the liability is derecognized through the amortization process.
Offsetting of Financial Instruments
Financial assets and financial liabilities are offset and the net amount reported in the consolidated statements of financial position if, and only if, currently owns the rights to perform legal power to offset the amount that has been recognized and
there is an intention to settle on a net basis, or to realize its assets and settle their liabilities simultaneously.
Amortized Cost of The Financial Instruments
Cost amortized calculated using the effective interest method less any allowance for impairment in value and payment of principal or value that can not be billed. The calculation is considered a premium or discount on acquisition and includes
transaction fees and expenses which are an integral part of the effective interest rate.
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g. Financial Instrument continued Impairment of Financial Assets
