Following are the new standards and amendments applicable on or after January 1

Following are the new standards and amendments

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Following are the new standards and amendments applicable on or after January 1, 2020, early adoption is permitted. - Amendemen PSAK No. 15 “Investasi pada Entitas Asosiasi dan Ventura Bersama tentang Kepentingan Jangka Panjang pada Entitas Asosiasi dan Ventura Bersama”. Amendemen PSAK No. 15 menambahkan paragraf 14A sehingga mengatur bahwa entitas juga menerapkan PSAK No. 71 atas instrumen keuangan pada entitas asosiasi atau ventura bersama dimana metode ekuitas tidak diterapkan. Hal ini termasuk kepentingan jangka panjang yang secara substansi membentuk bagian investasi neto entitas pada entitas asosiasi atau ventura bersama sebagaimana dimaksud dalam PSAK No. 15 paragraf 38. - Amendment to PSAK No. 15 "Investment in Associates and Joint Ventures concerning Long- Term Interests in Associates and Joint Ventures". Amendments to PSAK No. 15 add paragraph 14A so that it is stipulated that the entity also applies PSAK No. 71 to financial instruments in associates or joint ventures where the equity method is not applied. This includes long-term interests which form a substantial part of the entity's net investment in associates or joint ventures as referred to in PSAK No. 15 paragraph 38. - Amendemen PSAK No. 62 “Kontrak Asuransi - Menerapkan PSAK No. 71: Instrumen Keuangan dengan PSAK No. 62: Kontrak Asuransi”. - Amendment to PSAK No. 62 "Insurance Contract - Implementing PSAK No. 71: Financial Instruments with PSAK No. 62: Insurance Contract". Amendemen ini memberikan 2 (dua) pendekatan yang bersifat opsional bagi entitas asuransi, yakni: This Amendment provides 2 (two) approaches that are optional for the insurer, namely: a. Deferrral approach : pengecualian temporer dari penerapan PSAK No. 71 bagi entitas yang aktivitas utamanya adalah menerbitkan kontrak asuransi sebagaimana dalam ruang lingkup PSAK No. 62 (yang diterapkan pada level entitas pelapor); dan a. Deferrral approach: temporary exemption from the application of PSAK No. 71 to an entity whose principal activity is to issue an insurance contract as within the scope of PSAK No. 62 (which applies at the level of the reporting entity); and b. Overlay approach : memperkenankan entitas untuk mereklasifikasi beberapa penghasilan atau beban yang timbul dari aset keuangan yang ditetapkan dari laba rugi ke penghasilan komprehensif lain. b. Overlay approach: allows an entity to reclassify multiple income or expenses arising from a defined financial asset from profit or loss to another comprehensive income.
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The original consolidated financial statements included herein are in Indonesian language PT ALAKASA INDUSTRINDO Tbk DAN ENTITAS ANAKNYA CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN (Lanjutan) Pada dan Untuk Tahun yang Berakhir Tanggal 31 Desember 2019 (Disajikan dalam ribuan Rupiah, kecuali dinyatakan lain) PT ALAKASA INDUSTRINDO Tbk AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) As of and For the Year Ended December 31, 2019 (Expressed in thousands of Rupiah, unless otherwise of stated) 15 2. PENERAPAN PERNYATAAN STANDAR AKUNTANSI KEUANGAN (“PSAK”) DAN INTERPRETASI STANDAR
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