Bank Indonesia Financial Accounting Policies (KAKBI) Komite Penyusun KAKBI
STATEMENT OF FINANCIAL ACCOUNTING POLICY NUMBER 02 PRESENTATION OF FINANCIAL STATEMENTS
FOREWORD The Steering Board of the Bank Indonesia Financial Accounting Policies Preparatory Committee (“KAKBI Committee”) approved and adopted the Statement of Financial Accounting Policy No. 02 at its meeting on 20 December 2013. Jakarta, 20 December 2013 KAKBI Committee Steering Board Rosita Uli Sinaga Chair Mubarakah Deputy Chair Hendar Member Ahmad Hidayat Member Sidharta Utama Member Slamet Sugiri Member Chaerul Djakman Member Jan Hoesada Member Amir Abadi Jusuf Member Kusumaningsih Angkawijaya Member Dwi Martani Member
TABLE OF CONTENTS Paragraph INTRODUCTION ........................................................................................ 01-05 Objective ............................................................................................................. 01 Scope ............................................................................................................. 02-04 Definitions .......................................................................................................... 05 FINANCIAL STATEMENTS ......................................................................... 06-34 Purpose of the Financial Statements ................................................................... 06 Components of Complete Set of Financial Statements .................................... 07-08 Responsibility for Financial Statements .............................................................. 09 General Characteristics ................................................................................. 10-34 Fair Presentation and Compliance with PKAK ............................................. 10-15 Accrual Basis ............................................................................................. 16-17 Materiality and Aggregation ........................................................................ 18-20 Offsetting .................................................................................................... 21-24 Reporting Frequency ........................................................................................ 25 Comparative Information ............................................................................ 26-32 Consistency of Presentation ........................................................................ 33-34 STRUCTURE AND CONTENT ..................................................................... 35-82 Introduction ................................................................................................... 35-36 Identification of Financial Statements ............................................................ 37-41 Statement of Financial Position ...................................................................... 42-49 Information to be presented in the Statement of Financial Position ............ 42-47 Information to be presented in the Statement of Financial Position or the Notes to Financial Statements .............................................................................. 48-49 Statement of Surplus Deficit .......................................................................... 50-58 Information to be presented in the Statement of Surplus Deficit ................. 50-57 Information to be presented in the Statement of Surplus Deficit or Notes to Financial Statements ....................................................................................... 58 Notes to Financial Statements ....................................................................... 59-82 Structure .................................................................................................... 59-63 Disclosure of Accounting Policies ................................................................ 64-71
Sources of Estimation Uncertainty that Affects Carrying Value ................... 72-80 Revaluation Reserves, Capital, Surplus and Accumulated Deficit .................... 81 Other Disclosures ............................................................................................ 82 TRANSITIONAL PROVISIONS ......................................................................... 83 EFFECTIVE DATE .......................................................................................... 84
PKAK 02: PRESENTATION OF FINANCIAL STATEMENTS ------------------------------------------------------------------------- STATEMENT OF FINANCIAL ACCOUNTING POLICY NUMBER 02 1 2 Presentation of Financial Statements 3 4 Statement of Financial Accounting Policy (PKAK) 02 consists of 5 paragraphs 1-84. All of the paragraphs in this Statement are equally 6 binding. The paragraphs that are printed in bold type and italics set 7 out the main principles. PKAK 02 must be read in the context of 8 regulation objectives and in conjunction with the Fundamental 9 Principles for the Preparation and Presentation of Bank Indonesia 10 Financial Statements. PKAK 01: Accounting Policies describes the 11 basis for the selection and application of accounting policies if no 12 specific PKAK is applicable. It is not mandatory for this Statement to 13 be applied to elements that are not material. 14 15 INTRODUCTION 16 17 Objective 18 19 01. The objective of this Statement is intended to govern the basis for 20 the presentation of general purpose financial statements of Bank Indonesia, 21 hereinafter referred to as “the financial statements,” so ensure comparability 22 with the entity's financial statements of previous periods. It sets out overall 23 requirements for the presentation of financial statements, guidelines for their 24 structure and minimum requirements for their content. 25 26 Scope 27 28 02. Bank Indonesia shall apply this Statement in preparing and 29 presenting general purpose financial statements in accordance with 30 the PKAK. 31 32 03. Other PKAKs set out the recognition, measurement and disclosure 33 for specific transactions and other events. 34 35 04. Should Bank Indonesia prepare interim financial statements, full 36 or condensed interim financial statements may be presented. This Statement 37 does not apply to the structure and content of condensed interim financial 38 statements, which are prepared in accordance with the GAS on Interim 39 Financial Statements, having regard to PKAK 07: Non-Unique Transactions. 40 However, paragraphs 10-24 apply to condensed interim financial statements. 41 2.1 --------------------------------------------------------------------------- Bank Indonesia Financial Accounting Policies Committee
PKAK 02: PRESENTATION OF FINANCIAL STATEMENTS ------------------------------------------------------------------------- Definitions 1 2 05. The following terms are used in this Statement: 3 4 Accumulated surplus deficit is the surplus / deficit in the current 5 period and prior periods. 6 7 Notes to financial statements. The notes to financial statements 8 contain additional information to that presented in the statement of 9 financial position and statement of surplus deficit. The notes to 10 financial statements provide narrative descriptions of the items 11 presented in the financial statements and information about items 12 that do not qualify for recognition in the financial statements. 13 14 General purpose financial statements (hereinafter referred to as 15 “financial statements”) are financial statements that are intended to 16 meet the needs of most users of the financial statements. 17 18 Interim financial statements are a complete set of financial 19 statements (as governed by this Statement) or condensed financial 20 statements (as governed by the GAS on Interim Financial Statements, 21 having regard to PKAK 07: Non-Unique Transactions) for an interim 22 period. 23 24 Material Omissions or misstatements of items are material if they 25 could, individually or collectively, influence the economic decisions of 26 financial statement users. Materiality depends on the size and nature 27 of the omission or misstatement judged in the surrounding 28 circumstances. The size or nature of the items in the financial 29 statements, or a combination of both, could be the determining factor. 30 31 Assessing whether an omission or misstatement could influence the 32 decisions of users of the financial statements, and thus be material, requires 33 a consideration of the characteristics of each user of the financial 34 statements. Fundamental Principles for the Preparation and Presentation of 35 Bank Indonesia Financial Statements (PDP2LK) state in paragraph 40 that 36 users are assumed to have a reasonable knowledge of the objective of Bank 37 Indonesia and its impact on financial reporting by Bank Indonesia, and to 38 have the ability to study the information in question. 39 40 Capital is the capital of Bank Indonesia as stipulated by the 41 legislation. 42 2.2 --------------------------------------------------------------------------- Bank Indonesia Financial Accounting Policies Committee
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