Pelaporan dan Akuntansi Keuangan

Assets Probable future economic benefits obtained and controlled by a particular entity as a result of past transactions or events

Cash, Receivables, and Financial Instruments

Financial Instruments Any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entity Financial asset and financial liability Financial asset  example: cash, receivables Financial liability  example: long-term debt

Cash Cash: cash on hand and demand deposits with banks or other financial institutions Cash equivalents: short-term highly liquid investments that are readily convertible to known amounts of cash and which are subjects to an insignificant risk of changes in value

Receivables Trade receivables: amounts due from customers for goods sold or services performed in the normal course of business Notes receivable  written promissory notes

Bad Debt Expense Proper matching if bad debt expense is recorded in the same fiscal period as the revenues to which they are related Estimation techniques: Percentage-of-sales method Aging method

Pledging, Assigning, and Factoring Pledging: an agreement whereby accounts receivable are used as collateral for loans  Disclosure Assignment: more formalized transfer of the asset to the lending institution Factoring: outright sale of receivables to a financing institution known as factor Transfers of receivables with recourse

Anjak Piutang Jenis pembiayaan dalam bentuk pembelian dan/atau pengalihan piutang atau tagihan jangka pendek suatu perusahaan yang berasal dari transaksi usaha

Anjak Piutang Tanpa Recourse Penjualan piutang atas dasar notifikasi Factor menanggung penuh risiko penagihan dan hak menerima pembayaran dari klien apabila terjadi kerugian atas piutang alihan yang tidak tertagih Diperlakukan sebagai penjualan piutang

Anjak Piutang Dengan Recourse Klien mempunyai kewajiban membayar seluruh atau sebagian dana yang diperoleh dari piutang alihan, atau membeli kembali piutang alihan, dalam hal nasabah tidak membayar piutang alihan tersebut kepada factor pada saat jatuh tempo Diakui sebagai kewajiban anjak piutang sebesar nilai piutang yang dialihkan

Inventory

Inventory Inventory: items that are held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services

Two Types of Entities Merchandising entity  merchandise inventory Manufacturer: Raw materials Work in process Finished goods

Inventory Basis for valuation: the lower of cost and net realizable value Cost flow assumptions: FIFO Weighted-average

Ownership of Goods 4 matters that may cause confusion about proper ownership Goods in transit Consignment sales Product financing arrangements Sales made with the buyer having generous or unusual right of return

Goods in Transit Goods are included in the inventory of the firm financially responsible for transportation costs FOB destination: part of seller’s inventory while in transit FOB shipping: part of buyer’s inventory while in transit

Consignment Sales Goods out on consignment are properly included in the inventory of the consignor and excluded from the inventory of consignee

Product Financing Arrangements A transaction in which an entity sells and agrees to repurchase inventory with repurchase price equal to the original sales price plus the carrying and financing costs The substance is a borrowing

Right to Return Purchases The sale is to be recorded if the future amount of the returns can be reasonably estimated

Accounting for Inventories Two systems: Periodic inventory system The inventory quantity is determined periodically by a physical count Perpetual inventory system Keeps a running total of the quantity of inventory on hand by recording all sales and purchases as they occur

Valuation of Inventories The primary basis of accounting for inventories is cost Cost is defined as the sum of all costs of purchase, costs of conversion, and other costs incurred in bringing the inventories to their present location and condition

Methods of Inventory Costing Specific Identification First-In, First-Out (FIFO) Weighted-Average

Methods of Inventory Costing Net realizable value: The estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale If cost exceeds NRV  a loss is recognized

Rumus Biaya Identifikasi khusus FIFI Rata-rata tertimbang LIFO ED PSAK No. 14 (Revisi 2008): LIFO dihilangkan

Property, Plant, and Equipment

Definisi Aset berwujud yang: Dimiliki untuk digunakan dalam produksi atau penyediaan barang atau jasa, untuk direntalkan kepada pihak lain, atau untuk tujuan administratif; dan Diharapkan untuk digunakan selama lebih dari satu periode

Initial Measurement All costs required to bring an asset into working condition should be recorded as part of the cost of the asset Exclude administrative costs Interest cost during construction of certain assets Decommissioning costs is included

Cost Subsequent to Purchase or Self-Construction To qualify for capitalization, costs must be associated with incremental benefits Extend useful life Increase capacity Improve quality of outputs or permits a reduction in other cost inputs

Depreciation Systematic and rational allocation of the depreciable amount of the asset over the asset’s expected useful life Requires a component approach for depreciation Each material component of a composite asset with different useful lives or different patterns of depreciation is accounted for separately

Depreciation Methods Straight-line Accelerated methods Diminishing balance Sum-of-the years’ digits Units of production

Measurement Subsequent to Initial Recognition Cost model  carried at its cost less any accumulated depreciation and any accumulated impairment losses Revaluation model  fair value

Revaluation Fair value: the amount for which the asset could be exchanged between knowledgeable, willing parties in an arm’s-length transaction Could use depreciated replacement cost approach Revaluation adjustments are to be recognized in other comprehensive income If a revalued asset is subsequently found to be impaired, the impairment provision is first offset against the revaluation surplus, and only when that has been exhausted is it expensed

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Revaluation The depreciation should be based on the new valuation over the number of remaining years of the asset’s useful life at the time of the latest valuation

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Impairment At each financial reporting date the reporting entity should determine whether there are conditions that would indicate that impairments may have occurred Impairment is the excess of carrying value over recoverable amount Recoverable amount: net selling price and value in use (greater of these two amounts)

Accounting for Impairments Historical cost Recognized as charges against current period profit Revaluation Treated as the partial reversal of a previous upward revaluation Any excess impairment should be charged to expense

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Impairment Reversing an impairment loss The increased carrying amount of an asset other than goodwill shall not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss for an asset other than goodwill shall be recognised immediately in profit or loss, unless the asset is carried at revalued amount

Retirements and Other Disposal Both the asset and accumulated depreciation should be eliminated Assets that have been identified for disposal  classified as “held for sale” Measured at the lower of the carrying value or fair value less cost to sale No longer subject to systematic depreciation

Nonmonetary Transaction The cost of an item of PPE acquired in exchange for a similar asset is to be measured at fair value

Capitalization of Borrowing Costs Borrowing costs eligible for capitalization, directly attributable to the acquisition, construction or production of a qualifying asset, are those borrowing costs that would have been avoided if the expenditure on this asset has not been made Actual borrowing costs less any investment income on the temporary investment of those borrowing

Capitalization of Borrowing Costs Qualifying assets are those that normally take an extended period of time to prepare for their intended uses 3 conditions must be made before the capitalization period should begin: Expenditures for the asset are being incurred Borrowing costs are being incurred Activities that are necessary to prepare the asset for its intended use are in progress

Perolehan Secara Gabungan Perolehan tanah dan prasarana-sarana secara gabungan, dialokasikan kepada aset tetap tanah secara proporsional berdasarkan perbandingan nilai wajar aset tetap tanah dan aset non tanah Apabila harga tanah amat handal  harga tanah ditentukan lebih dahulu, lalu sisanya menjadi harga perolehan prasarana dan sarana

Tanah Sumbangan Dicatat berdasarkan nilai wajar lokasi setempat dan diakui sebagai Modal Berasal dari Sumbangan

Properti Investasi Properti Investasi adalah properti (tanah atau bangunan atau bagian dari suatu bangunan atau kedua-duanya) yang dikuasai (oleh pemilik atau lessee/penyewa melalui sewa pembiayaan) untuk menghasilkan rental atau untuk kenaikan nilai atau kedua-duanya, dan tidak untuk: Digunakan dalam produksi atau penyediaan barang atau jasa untuk tujuan administratif; atau Dijual dalam kegiatan usaha sehari-hari

Pengukuran Setelah Perolehan Awal Model nilai wajar Seluruh properti investasi dinilai berdasarkan nilai wajar Laba atau rugi yang timbul dari perubahan nilai wajar atas properti investasi harus diakui dalam laporan laba rugi pada periode terjadinya Model biaya Sesuai PSAK No. 16

Intangible Assets

Definisi Aset nonmoneter yang dapat diidentifikasi dan tidak mempunyai wujud fisik serta dimiliki untuk digunakan dalam menghasilkan atau menyerahkan barang atau jasa, disewakan kepada pihak lainnya, atau untuk tujuan administratif

Recognition Criteria Whether the intangibles asset can be identified separately from other aspects of the business enterprise Whether the use of the intangible asset is controlled by the enterprise as a result of its past actions and events Whether future economic benefits can be expected to flow to the enterprise Whether the cost of the asset can be measured reliably

Measurement of the Cost of Intangibles Acquired separately  analogous to that for PPE Acquired as part of business combination  fair value as at the date of acquisition

Internally Generated Intangibles Goodwill  not recognized as an intangibles Other than goodwill  research activity or development activity: Research  expensed immediately Development  capitalized if meets the recognition criteria

Internally Generated Computer Software Costs Software-developing company  the cost incurred in the development of software programs are research and development costs Software internally developed for in-house use  may need to be expensed Purchased software: Software purchase for sale  inventory Held for licensing or rental to others  intangible asset Purchased for own use and which is integral to the hardware part of the cost of the hardware

Subsequent Incurred Costs Should be recognized as an expense when they incurred unless: It is probable that those costs will enable the asset to generate specifically attributable future economic benefits on excess of its assessed standard of performance immediately prior to the incremental expenditure; and Those costs can be measured reliably and attributed to the asset reliably

Measurement Subsequent to Initial Recognition Cost model  carried at its cost less any accumulated amortisation and any accumulated impairment losses Revaluation model  only for freely tradable intangible assets

Useful Life The accounting for an intangible asset is based on its useful life. An intangible asset with a finite useful life is amortised and an intangible asset with an indefinite useful life is not

Useful Life The useful life of an intangible asset that arises from contractual or other legal rights shall not exceed the period of the contractual or other legal rights, but may be shorter depending on the period over which the entity expects to use the asset.

Periode Amortisasi Umumnya tidak akan melebihi 20 tahun

Amortisation Amortisation methods include the straight-line method, the diminishing balance method and the unit of production method. If it is not possible to identify the pattern in which the economic benefits are expected to be utilised by the entity, then the straight-line method should be used.

Impairment An entity is required to test an intangible asset with an indefinite useful life for impairment

Impairment Reversing an impairment loss The increased carrying amount of an asset other than goodwill shall not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss for an asset other than goodwill shall be recognised immediately in profit or loss, unless the asset is carried at revalued amount

Impairment An impairment loss recognised for goodwill shall not be reversed in a subsequent period.

Web Site Development and Operating Costs Represent an internally generated intangible asset Have been likened to “development phase” costs

Sewa

Definisi Sewa adalah suatu perjanjian dimana lessor memberikan hak kepada lessee untuk menggunakan suatu aset selama periode waktu yang disepakati

Klasifikasi Sewa Suatu sewa diklasifikasikan sebagai sewa pembiayaan jika sewa tersebut mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset Suatu sewa diklasifikasikan sebagai sewa operasi jika sewa tidak mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset

Sewa Pembiayaan Lessee mengakui sewa pembiayaan sebagai aset dan kewajiban sebesar nilai wajar aset sewaan atau sebesar nilai kini dari pembayaran sewa minimum, jika nilai kini lebihrendah dari nilai wajar

Penyusutan Kebijakan penyusutan untuk aset sewaan harus konsisten dengan aset yang dimiliki sendiri Jika terdapat kepastian yang memadai bahwa lessee akan mendapatkan hak kepemilikan pada akhir masa sewa  penyusutan selama umur masa manfaat aset tersebut Jika tidak terdapat kepastian yang memadai bahwa lessee akan mendapatkan hak kepemilikan pada akhir masa sewa  disusutkan selama periode yang lebih pendek antara masa sewa dan umur manfaat aset sewaan