PT Summarecon Agung Tbk | Laporan Tahunan 2010 Annual Report

These consolidated financial statements are originally issued in Indonesian language.
PT SUMMARECON AGUNG Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2010 and 2009
(Expressed in thousands of rupiah, unless otherwise stated)
40. RECENT DEVELOPMENTS AFFECTING ACCOUNTING STANDARDS AND INTERPRETATIONS
(continued)
Effective for financial statements starting on or after January 1, 2012:
a. PSAK No. 10 (Revised 2010), “The Effects of Changes in Foreign Exchange Rates”, prescribes
how to include foreign currency transactions and foreign operations in the financial statements of
an entity and to translate financial statements into a presentation currency.
b. PSAK No. 18 (Revised 2010), “Accounting and Reporting by Retirement Benefit Plans”, provides
guidance on the accounting and reporting by plans to all participants as a group. This Standard
complements PSAK No. 24 (Revised 2010), “Employee Benefits”.
c. PSAK No. 24 (Revised 2010), “Employee Benefits”, established the accounting and disclosures for
employee benefits.
d. PSAK No. 34 (Revised 2010), “Accounting for Construction Contracts”, prescribes the accounting
treatment of revenue and costs associated with construction contracts.
e. PSAK No. 46 (Revised 2010), “Accounting for Income Taxes”, prescribes the accounting treatment
for income taxes to account for the current and future tax consequences of the future recovery
(settlement) of the carrying amount of assets (liabilities) that are recognized in the balance sheet;
and transactions and other events of the current period that are recognized in the financial
statements.
f. PSAK No. 50 (Revised 2010), “Financial Instruments: Presentation”, established the principles for
presenting financial instruments as liabilities or equity and for offsetting financial assets and
financial liabilities.
g. PSAK No. 53 (Revised 2010), “Share-based Payment”, specifies the financial reporting by an
entity when it undertakes a share-based payment transaction.
h. PSAK No. 60, “Financial Instruments: Disclosures”, requires disclosures in financial statements
that enable users to evaluate the significance of financial instruments for financial position and
performance; and the nature and extent of risks arising from financial instruments to which the
entity is exposed during the period and at the end of the reporting period, and how the entity
manages those risks.
i. PSAK No. 61, “Accounting for Government Grants and Disclosures of Government Assistance”,
provides guidance on the accounting for, and in the disclosures of, government grants and in the
disclosures of other forms of government assistance.
j. ISAK No. 13, “Hedges of Net Investment in Foreign Operations”, applies to an entity that hedges
the foreign currency risk arising from its net investments in foreign operations and wishes to
qualify for hedge accounting in accordance with PSAK No. 55 (Revised 2006). It refers to the
parent entity and to the financial statements in which the net assets of foreign operations are
included as consolidation financial statements.
k. ISAK No. 15, “PSAK No. 24 - The Limit on a Defined Benefit Asset, Minimum Funding
Requirements and their Interaction”, provides guidance on how to assess the limit on the amount
of surplus in a defined scheme that can be recognized as an asset under PSAK No. 24 (Revised
2010), ”Employee Benefits”.
69