Account

receivable
analysis of
Semen
Gresik
financial
report
2002/2003
Geubrina Ria Andarint

Auditing II

In the consolidated balance sheet, receivables is described in note 2d and 5

In the note above, the company still follows SFAS 55 before revision in 2006 (financial
statements presented in 2003), before the revision of SFAS recognition receivables are net
amounts that can be realized, the loss reserve accounts receivables assessed on the basis of
historical age. But after the 2006 revision, the company must estimate the impairment of
receivables, ie there must be objective evidence that there are events that cause impairment,
which accounts for the value of collectible today. To determine the company's fair value
which must consider the time value of money.
Notes 5:

In paragraph 59 of SFAS 1 described how the presentation of the accounts receivable that are
expected to recover under twelve months or more than twelve months, at note 5 we can see
that the company serves receivables into four parts:
1. 1-45 days
2. 46-135 days
3. 135-165 days
4. More than 365 days
So the company is already present by existing standards.