Pelaporan dan Akuntansi Keuangan

Revenue Recognition

Definition Revenue is defined as income arising from the ordinary activities of an entity and may be referred to by a variety of names including sales, fees, interest, dividends, and royalties Revenue encompasses only the gross inflow of economic benefits received or receivable by the entity, on its own account

Measurement of Revenue Revenue should be measured at the fair value of the consideration received or receivable, net of any trade discounts and volume rebates allowed by the entity

Revenue Recognition Criteria Revenue is to be recognized when it is probable that future economic benefits will flow to the entity and reliable measurement of the quantum of revenue is possible

Revenue Recognition from the Sale of Goods The reporting entity has transferred significant risks and rewards of ownership of the goods to the buyer The entity does not retain either continuing managerial involvement or effective control over the goods sold The quantum of revenue to be recognized can be measured reliably The probability that economic benefits related to the transaction will flow the entity exists The costs incurred or to be incurred in respect of the transaction can be measured reliably

Revenue Recognition from the Rendering of Services The amount of revenue can be measured reliably The probability that economic benefits related to the transaction will flow the entity exists The stage of completion of the transaction at the balance sheet date can be measured reliably Percentage-of-completion method The costs incurred for the transaction and the costs to complete the transaction can be measured reliably

Revenue Recognition from Interests, Royalties, and Dividends It is probable that the economic benefits relating to the transaction will flow the entity exists The amount of the revenue can be measured reliably

Revenue Recognition from Interests, Royalties, and Dividends Interest  the time proportion basis that takes into account the effective yield on the assets Royalties  the accrual basis in accordance with the substance of the relevant agreement Dividends  when the shareholder’s right to receive payment is established

Accounting for Barter Transactions Entity providing advertising should measure revenue from the barter transaction based on the fair value of advertising services it has provided to its customer, and not the value of that received

Accounting for Barter Transactions Reference to non-barter transactions that: involve services similar to that in barter transaction when those transactions occur frequently are expected to continue occurring after the barter transaction represent a predominant source of revenue from advertising similar to the advertising in barter transaction Involve cash and/or another form of consideration that has a reliably determinable fair value do not involve the same counterparty as in the barter transaction

Construction Contract Accounting Construction contract revenue may be recognized during construction rather than at the completion of the contract Percentage-of-completion

Determining the Stage of Completion One of the methods may be chosen: The proportion that contract costs incurred bears to estimated total contract cost (cost-to-cost method) Survey of work performed method Completion of physical proportion of contract work (units-of-work-performed method)

Accounting for Income Taxes

Deferred Tax The amounts of revenues and expenses recognized in a given period for taxation purposes will not fully correspond to what is reported in the financial statements Current period tax expense will normally not equal the amount of the current period’s tax payment obligation  Deferred income tax assets and/or liabilities must be recognized

Definition Deferred tax asset: the amounts of income taxes recoverable in future periods in respect of deductible temporary differences, carryforwards of unused tax losses, and carryforwards of unused tax credits Deferred tax liability: the amounts of income taxes payable in future periods in respect of taxable temporary differences

Current Tax Expense Income tax expense will be comprised of 2 elements: Current tax expense Deferred tax expense

Liability Method The primary goal is to present the estimated actual taxes to be payable in current and future periods as the income tax liability on the statement of financial position Multiplying the aggregate unreversed temporary differences, including those originating in the current period, by the tax rate(s) expected to be in effect in the future to determined the expected future liability (or benefit) The difference between this expected liability (or benefit) and the amount on the books at the beginning of the period, is the deferred tax expenses or benefit

Deferred Tax

Temporary Differences All differences between the tax and financial reporting bases of assets and liabilities, if those differences will result in taxable or deductible amounts in future years Revenue recognized for financial reporting purposes before being recognized for tax purposes Revenue recognized for tax purposes prior to recognition in the financial statements Expenses that are deductible for tax purposes prior to recognition in the financial statements Expenses that are reported in the financial statements prior to becoming deductible for tax purposes

Measurement of Deferred Tax Assets and Liabilities Segregate temporary differences into those that are taxable and those that are deductible Only those deferred tax benefits which are probable of being realized are recognized All deferred obligations are given full recognition

Deferred Tax Assets Deferred tax assets resulting from temporary differences and from tax loss carryforwards are to be given recognition only if realization is deemed to be probable

Effect of Tax Law Changes The effect of tax law changes should be reflected in the year-end deferred tax accounts in the period the changes are enacted

Classification Deferred tax assets and liabilities should never be included in the current category The offsetting of tax assets and liabilities is never allowed in the statement of financial position

Penyajian Aset pajak dan kewajiban pajak harus disajikan terpisah dari aset dan kewajiban lainnya dalam neraca Aset pajak tangguhan dan kewajiban pajak tangguhan harus dibedakan dari aset pajak kini dan kewajiban pajak kini Aset (kewajiban) pajak tangguhan tidak boleh disajikan sebagai aset (kewajiban) lancar

Saling Menghapuskan Aset pajak kini harus dikompensasi dengan kewajiban pajak kini dan jumlah netonya harus disajikan pada neraca

Penyajian – PT Telkom Tbk (2007)

Penyajian – PT Telkom Tbk (2007)

Changes in Accounting Policies and Estimates, and Corrections of Errors

Comparability and Consistency Encourage comparability among financial statements produced by essentially similar enterprises Users be informed about the accounting policies that were employed, any changes in these policies, and the effects if such changes Consistency refers to a given reporting entity’s uniform and unvarying adherence, from one period to the next, to a defined set of accounting policies and procedures

Change in Accounting Policy Reporting entity has exchanged one accounting principle for another Changes are permitted if: Required by a standard or an interpretation, or Result in more relevant and reliable presentation of events or transactions in the financial statements

Change in Accounting Policy Pursuant to the Adoption of a Standard To be accounted for in accordance with the transitional provisions set forth in that standard Generally: restatement of comparative period information

Voluntary Changes in Accounting Policy Must be accounted for retrospectively The results of operations for all prior periods presented must be restated, as if the new adopted policy had always been used

Computing Cumulative Effects of Changes in Accounting Policies Calculating income before taxes, using both the new principle and the old principle for all prior periods affected The difference between the two computed pretax income amounts, for each prior period, is then calculated These differences are adjusted for tax effects Net of tax differences for each period are totaled. This total represents the cumulative effect adjustment at the beginning of the current period

Change in Amortization Method A change in depreciation method is a change in an accounting estimate

Change in Accounting Estimate Changes in accounting estimates be handled currently and prospectively

Correction of Errors Errors: omissions from and other misstatements of the entity’s financial statements for one or more prior periods that are discovered in the current period and relate to reliable information that: Was available when those prior period financial statements were prepared Could reasonably be expected to have been obtained and taken into account in the original preparation and presentation of those financial statements The only permitted treatment is a prior period adjustment (accounted for retrospectively)

Laba atau Rugi Bersih untuk Periode Berjalan Laba atau rugi bersih untuk periode berjalan terdiri dari unsur-unsur berikut: Laba atau rugi dari aktivitas normal; dan Pos luar biasa

Pos Luar Biasa Suatu kejadian dapat diklasifikasikan sebagai pos luar biasa jika memenuhi dua kriteria berikut: Bersifat tidak normal Tidak sering terjadi

Operasi yang Tidak Dilanjutkan Adakalanya suatu perusahaan tidak melanjutkan suatu lini usaha utama yang terpisah yang dapat dibedakan dari aktivitas usaha lain

Biaya Pinjaman

Biaya Pinjaman Biaya pinjaman yang secara langsung dapat diatribusikan dengan perolehan, konstruksi atau produksi Aset Tertentu harus dikapitalisasi sebagai bagian dari biaya perolehan Aset Tertentu tersebut

Biaya Pinjaman yang Dikapitalisasi Apabila pinjaman hanya digunakan untuk memperoleh suatu aset tertentu, maka jumlah biaya pinjaman yang dikapitalisasi adalah seluruh biaya pinjaman yang timbul selama peminjaman dana tersebut dikurangi dengan pendapatan bunga yang diperoleh dari investasi sementara atas dana hasil pinjaman yang belum digunakan

Biaya Pinjaman yang Dikapitalisasi Apabila suatu dana berasal dari pinjaman yang tidak secara khusus digunakan untuk perolehan suatu aset tertentu tapi digunakan juga untuk perolehan aset tertenu, maka jumlah pinjaman yang dikapitalisasi ditentukan dengan: Mengalikan tingkat kapitalisasi terhadap pengeluaran yang terjadi untuk memperoleh aset tertentu Tingkat kapitalisasi dihitung berdasarkan rata-rata tertimbang dari biaya pinjaman dibagi dengan jumlah pinjaman Jumlah pinjaman yang dikapitalisasi tidak boleh melebihi jumlah biaya pinjaman yang terjadi selama periode tertentu

Saat Dimulainya Kapitalisasi Pengeluaran untuk aset tersebut telah mulai dilakuka Biaya pinjaman sedang terjadi Aktivitas yang dibutuhkan untuk mempersiapkan pembangunan atau memproduksi aset tertentu sedang berlangsung

Laba per Saham

Laba per Saham Laba per saham dasar Laba per saham dilusian

Laba per Saham Dasar Dihitng dengan membagi laba atau rugi bersih residual dengan jumlah rata-rata tertimbang saham biasa yang beredar dalam satu periode

Laba per Saham Dilusian Untuk tujuan penghitungan LPS dilusian, laba bersih residual, dan jumlah rata-rata tertimbang saham biasa beredar harus disesuaikan dengan memperhitungkan dampak dari semua efek berpotensi saham biasa yang dilutif