A toll road has a strategic role in creating an even distribution of development and regional expansion. In developed regions the mobility of people and goods is usually high requiring land or road transportation with reliable quality. Without adequate road capacity with reliable quality, the movements of goods and people will face obstacles, which may result in economic losses. Losses incurred by road users have the potential of being converted into a form of public payment for the use of the toll road.
With the collection of public funds from the usage of the toll road in an economically developed region, the state\u2019s fund which should have been used for maintaining roads could be saved and used to develop sectors or other undeveloped regions.
This statement is made taking into account the characteristics of toll road operations in Indonesia and guided by the basic concepts of financial accounting and prevailing laws and regulations. The main characteristics of toll road operations are among others :
a. A toll road is an asset, the existence and operation of which, is regulated by specific regulations. Based on prevailing regulations, the ownership and operational right of toll road are in the hands of the Government. In addition to bearing the cost of land acquisition, the Government also authorizes a state enterprise to operate a toll road including the construction, maintenance and operations,. The state enterprise which has been given the authority to operate the toll road is allowed to cooperate with an investor either fully or partly for the operation of the toll road.
b. A toll road has a reliable quality, obstacle free and the users must pay a toll fee. In general, a toll road has a high technical reliability. If the toll road is maintained and repaired as it should be, the toll road will function properly and has a very long technical useful life. Periodic maintenance and repairs are needed for the body of the toll road, such as repeat coating of the pavement or replacement of several components of the toll bridge due to the wearing-out process.
c. The construction of a toll road is closely related to the national road network development program and will accelerate development of the surrounding regions. In constructing and operating a toll road, the probability exists that the surroundings may demand the toll road operator to develop the non toll- road network, road complementary buildings and road equipment. Such
This statement regulates accounting for toll road operations for an enterprise, which is authorized to operate a toll road by the government or by an investor in the toll road.
This statement also regulates operational cooperation between the operator and an investor which constitutes a cooperation where only one party actively control the joint operation assets and the operations. This statement does not regulate operational cooperation with jointly controlled assets (PBA) and jointly controlled operation (PBO) as regulated in the Financial accounting Standard No. 12 regarding Financial Reporting for Participation Unit in Jointly Controlled assets and jointly controlled operations.
Matters of a general nature or matters which are not specifically regulated in this statement should be treated in accordance with other financial accounting standards.
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