Chapter 22: Accounting Changes and Error Analysis Intermediate Accounting, 11th ed. Kieso, Weygandt, and Warfield Chapter 22: Accounting Changes and Error Analysis 2

Chapter 22: Accounting Changes and Error Analysis After studying this chapter, you should be able to: Identifikasi jenis2 Perubhn Akunt. Uraian perubhn prinsip2 Akunts. Memahami bgmn perhitungan pengaruh kumulatif perubh Akuntansi. Bgmn perhitungan perubhn Ak retroaktif. Bgmn perhitungan perubahan ke metode LIFO.

Chapter 22: Accounting Changes and Error Analysis Uraian Akuntansi utk perubhn estimasi. Identifikasi perubhn dalam entitas pelaporan. Uraian Akuntansi utk koreksi kesalahan. Identifikasi motif2 ekonomi utk mengubah metode akuntansi. Analisis pengaruh kesalahan.

Restatements Everywhere

Types of Accounting Changes Sebelum penerbitan APB Opinion No 20 , “Perubahan Akuntansi” persh. Memiliki fleksibilitas utk menggunakan perlakuan akuntansi alternatif Thd situasi yg sangat mendasar. The types of accounting changes are: Changes in Accounting Principle Changes in Accounting Estimates Changes in Reporting Entity Errors in Financial Statements

Changes in Accounting Principle Perubhn prinsip akuntansi melibatkan perubhn dari satu prinsip akuntansi yg berlaku umum ke yg lainnya. A change in principle does not result from the adoption of a new accounting principle. Jika prinsip akuntansi seblmnya tdk dpt diterima atau diterapkan scr tdk benar maka perubhn ke prinsip Ak. Dianggap sbg koreksi kesalahan.

Changes in Accounting Principle Changes in accounting principle are classified into: Cumulative-effect type of accounting change (periode berjalan) Retroactive-effect type of accounting change Change to the LIFO method of inventory

Cumulative-Effect Type of Accounting Change The catch up method hrs digunakan utk akuntansi utk perubahan. Lap keu periode seblmnya yg dimasukkan utk tujuan komparatif tdk perlu dinyatakan kembali. Laba seblm pos2 luar biasa dan laba bersih, yg dihitung atas dasar proforma hrs ditampilkanpd Lap. R/L utk semua periode.

Cumulative-Effect Type of Accounting Change Ayat jurnal akan efektif apabila dibuat awal tahun. Pro forma (seolah-olah) information bermanfaat bagi individu2 yg berkepentingan dalam penilaian kecenderungan laba selama suatu periode waktu tertentu. Inf. Profrm., yg hy ditampilkan sbg inf pelengkp, dpt dilap. pd Lap R/L, dlm skedul terpisah, atau dlm cattn. Atas Lap. Keu.

Cumulative Effect: Example XYZ company changes from the sum-of-the-years’ digits method to the straight-line method of depreciation on Jan. 1, 2004. The depreciation amounts are: Year SYD ST.LINE 2002 $15,000 $8,000 2003 $14,000 $8,000 The company’s tax rate is 40%. Record the change as of the beginning of 2004.

Cumulative Effect: Example Year SYD SL Diff Tax Effect 2002 $15,000 $8,000 $7,000 $2,800 2003 $14,000 $8,000 $6,000 $2,400 -------- -------- $13,000 $5,200 -------- -------- Tax liability increases by $5,200 Tax effect is the difference times the tax rate

Cumulative Effect: Example Journal Entry: Accumulated Dep. $13,000 Deferred Tax Asset $ 5,200 Cumulative Effect of Change in Principle $ 7,800

Retroactive-Effect Type of Accounting Change Pengaruh kumulatif dari metode baru terhadap Lap keuangan dihitung pd awal periode. Prior period statements atas dasar yg konsisten dg prinsip yg baru diadopsi. Setiap bagian dari pengaruh kumulatif yg berkaitan dg th2 seblmnya diperlakukan sbg penyesuaian laba ditahan awal dari tahun paling awal ditampilkan.

Retroactive-Effect Type of Accounting Change The five situations requiring restatement of all prior period statements are: A change from the LIFO inventory method to another method A change in the method of accounting for long-term construction type contracts A change from or to the full-cost method in extractive industries(menghslkan bhn2baku) Penerbitan Lap keu utk pertama kalinya utk memperoleh Modal Ekuitas. Pengumuman profesional yg merekomendasikan bwh perubhn prinsip Ak diperlakukan scr retroaktif.

Income Statement Presentation Retained Earnings account is shown as follows: Balance at beginning of year : $ XXX Adjustment for the cumulative effect on prior years: $ XX Balance at beginning (as adjusted): $ XX Net Income : $ XXX Balance at end of year: $ XXX

Reporting a Change in Estimate Changes in estimates harus ditangani secara prospektif. Yaitu tidak ada perubhn yg hrs dibuat dlm hsl yg dilaporkan seblmnya. So awal tdk perlu disesuaikan, dan tdk ada usaha utk”menyusul” atau catch up periode sebelumnya. Examples of changes in estimates involve: Piutang tak tertagih Keusangan persediaan. Umur manfaat dan nilai sisa aktiva.

Reporting a Change in Entity Lap dr entitas yg berbeda hrs dilaporkan dg menyatakan kembali Lap Keu yg disajikan selama periode seblmnya, guna menunjukkan informasi keuangan bagi entitas pelaporan yg baru selama semua periode. Examples of a change in reporting entity are: Menyajikan Lap konsolidasi utk menggantikan Lap persh.individual. Mengubah anak persh t3 yg terdiri dr kelpk persh dmn Lap keu konsolidasi disajikan.

Reporting the Correction of an Error Contoh dari kesalahan Akuntansi : Perubhn dr prinsip Ak yg tdk berlaku umum ke prinsip yg berlaku umum (cash basis ke Accrual basis) Kesalahan matematis yg diakibatkan oleh penjumlahan, pengurangan dsb. Perubhn estimasi krn estimasi dibuat dg tdk jujur(Co penggunaan tari penyusutan yg tdk realistis) Kelalaian dan penggunaan fakta yg tdk benar. Klasifikasi biaya yg tdk tepat sbg beban dan bukan sbg aktiva serta sebaliknya.

Motivations for Change Biaya Politik Co: Prsh. Melaporkan laba rendah serikat pekerja tdk akan meminta kenaikan gaji. 2. Struktur modal Persh dg rasio hut tinggi thd ekuitas maka akan cenderung memilih metode akuntansi yg bisa menaikkan laba bersih. 3. Pembayaran Bonus. 4. Memperlancar Laba (konsistensi perolehan laba)

Error Analysis in General Pershn. Tdk mengkoreksi kesalahan yg ditemukan yg tdk memiliki dampak signifikan thd penyajian Lap keuangan. Tiga pertanyaan yg hrs dijawab dlm analisis kesalahan : a. Kesalahan Jenis apa yg terjadi ? b. Ayat jurnal apa yg diperlukan utk koreksi kesalahan? c.Bgmn Lap keu dinyatakan kembali stl ditemukannya kesalahan ? * Koreksi kesalahan diperlakukan sbg penyesuaian periode seblmnya dan dilaporkan dlm th berjalan sbg penyesuaian saldo awal Laba Ditahan.

Types of Errors Errors can occur in the following financial statements: Balance sheet Income statement Balance sheet and the income statement Errors can be: Counterbalancing (kesalahan yg saling menyeimbangkan) Non-counterbalancing (Kesalahan yg tdk saling menyeimbangkan)

Counterbalancing Errors Apakah pembukuan telah ditutup atau belum selama periode dmn terjadi kesalahan ? Jika Pembukuan sudah ditutup: Jika kesalah telah saling diseimbangkan, ayat jurnal yg diperlukan. 2. Jika kesalahan belum saling diseimbangkan, diperlukan ayat jurnal utk penyesuain R/E. b. Jika Pembukuan belum ditutup 1. Sdh diseimbangkan dan pershn. Memasuki th ke-2, perlu jurnal utk koreksi periode berjln + menyesuaikan saldo Laba ditahan.

Changing From and to the Equity Method A change to or from the equity method requires restatement of all prior period statements. A change from the equity method to the fair value method must be made when: the investor’s level of influence falls below the required percentage of ownership A change from the fair value method to the equity method must be made when: the investor’s level of influence rises above the required percentage of ownership

Changing from the Equity Method The cost basis for accounting purposes is the carrying amount of the investment at the date of the change. The earnings and losses (previously recognized) remain part of the carrying value Any amortization previously needed under the equity method ceases To the extent that dividends received by investor exceed investor’s share of investee’s earnings in subsequent periods: Such excesses are reductions of the investment carrying amount

Changing to the Equity Method The following amounts are retroactively adjusted (as if the investor had held the investment during all prior periods): The carrying value of the investment The results of current and prior period operations The retained earnings of the investor Any balances in unrealized holding gains and losses are eliminated. The available-for-sale classification is also removed.