Pelaporan dan Akuntansi Keuangan

Framework for the Preparation and Presentation of Financial Statements This Framework sets out the concepts that underlie the preparation and presentation of financial statements for external users

The Purpose of the Framework To assist the Board of IASC in the development of future International Accounting Standards and in its review of existing International Accounting Standards; To assist the Board of IASC in promoting harmonisation of regulations, accounting standards and procedures relating to the presentation of financial statements by providing a basis for reducing the number of alternative accounting treatments permitted by International Accounting Standards;

The Purpose of the Framework To assist national standard-setting bodies in developing national standards; To assist preparers of financial statements in applying International Accounting Standards and in dealing with topics that have yet to form the subject of an International Accounting Standard; To assist auditors in forming an opinion as to whether financial statements conform with International Accounting Standards;

The Purpose of the Framework To assist users of financial statements in interpreting the information contained in financial statements prepared in conformity with International Accounting Standards; and To provide those who are interested in the work of IASC with information about its approach to the formulation of International Accounting Standards.

Scope The Framework deals with: the objective of financial statements; the qualitative characteristics that determine the usefulness of information in financial statements; the definition, recognition and measurement of the elements from which financial statements are constructed; and concepts of capital and capital maintenance.

Kerangka Konseptual dan Pelaporan Keuangan Tujuan kerangka dasar ini adalah untuk digunakan sebagai acuan bagi: Komite penyusun standar akuntansi keuangan, dalam pelaksanaan tugasnya Penyusun laporan keuangan untuk menanggulangi masalah akuntansi yang belum diatur dalam standar akuntansi keuangan Auditor, dalam memberikan pendapat apakah laporan keuangan disusun sesuai dengan prinsip akuntansi yang berlaku umum Para pengguna laporan keuangan, dalam menafsirkan informasi yang disajikan dalam laporan keuangan yang disusun sesuai dengan standar akuntansi keuangan

Asumsi Dasar Dasar akrual Kelangsungan usaha Pengaruh transaksi dan peristiwa lain diakui pada saat kejadian (dan bukan pada saat kas atau setara kas diterima atau dibayar) dan dicatat dalam catatan akuntansi serta dilaporkan dalam laporan keuangan pada periode yang bersangkutan Kelangsungan usaha Laporan keuangan biasanya disusun atas dasar asumsi kelangsungan usaha perusahaan dan akan menajutkan usahanya di masa depan

Karakteristik Kualitatif Dapat dipahami Kemudahannyaa untuk segera dapat dipahami oleh pengguna Relevan Informasi memiliki kualitas relevan kalau dapat mempengaruhi keputusan ekonomi pengguna dengan membantu mereka mengevaluasi peristiwa masa lalu, masa kini, atau masa depan, menegaskan, atau mengkoreksi, hasil evaluasi pengguna masa lalu Materialitas

Karakteristik Kualitatif Keandalan Informasi memiliki kualitas andal jika bebas dari pengertian yang menyesatkan, kesalahan material, dan dapat diandalkan penggunaannya sebagai penyajian yang tulus atau jujur (faithful representation) dari yang seharusnya disajikan atau yang secara wajar dapat disajikan Penyajian jujur Substansi mengungguli bentuk Netralitas Pertimbangan sehat Kelengkapan Dapat diperbandingkan Perbandingan antar periode dan antar perusahaan

Karakteristik Kualitatif Kendala informasi yang relevan dan andal Tepat waktu Keseimbangan antara biaya dan manfaat Keseimbangan diantara karakteristik kualitatif Penyajian wajar

Unsur-unsur Laporan Keuangan Posisi Keuangan Aset Kewajiban Ekuitas Kinerja Penghasilan Beban Penyesuaian pemeliharaan modal

Pengakuan Unsur Laporan Keuangan Ada kemungkinan bahwa manfaat ekonomi yang berkaitan dengan pos tersebut akan mengalir dari atau ke dalam perusahaan; dan Pos tersebut mempunyai nilai atau biaya yang dapat diukur dengan andal

Overview of the Conceptual Framework – FASB The Framework has three different levels,comprised of: The first level consists of objectives. The second level explains financial elements and characteristics of information. The third level incorporates recognition and measurement criteria.

Conceptual Framework for Financial Reporting – FASB

Financial Statements A structured representation of the financial position and financial performance of an entity Objective: To provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions

Financial Statements – IAS 1 A statement of financial position A statement of comprehensive income A statement of changes in equity A statement of cash flows Notes to the financial statements

Laporan Keuangan – PSAK No. 1 Neraca Laporan laba rugi Laporan perubahan ekuitas Laporan arus kas Catatan atas laporan keuangan

Elements Assets Liabilities Equity

Assets Probable future economic benefits obtained and controlled by a particular entity as a result of past transactions or events Probable future economic benefits  provide net cash inflows Controlled  able to receive the benefits and restrict other entities’ access to that benefit Past transactions or events  event has occurred

Liabilities Liabilities: probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events Probable future transfer of an asset Can not be avoided Event has occurred

Equity Equity: the residual interest in the assets that remains after deducting its liabilities

Classification of Assets Current assets It is expected to be realized in, or is held for sale or consumption in, the normal course of the enterprise’s operating cycle It is held primarily for trading purposes It is expected to be realized within twelve months of the statement of financial position date It is cash or cash equivalent asset that is not restricted in its use Noncurrent assets

Classification of Liabilities Current liabilities It is expected to be settled in the normal course of business within the enterprise’s operating cycle It is due to be settled within twelve months of the date of the statement of financial position It is held primarily for the purpose of being traded The entity does not have an unconditional right to defer settlement beyond twelve months Noncurrent liabilities

Classification of Shareholders’ Equity Share capital Retained earnings Minority interests

Format

Format

Neraca Aset lancar disajikan terpisah dari aset tidak lancar dan kewajiban jangka pendek terpisah dari kewajiban jangka panjang Aset lancar disajikan menurut ukuran likuiditas Kewajiban disusun menurut urutan jatuh temponya

Statement of Income, Comprehensive Income, and Changes in Equity IAS 1 (revised in 2007)  requires all nonowner changes in equity (comprehensive income) to be presented in one statement of comprehensive income or in two statements (a separate income statement and a statement of comprehensive income)

Income, Expenses, Gains & Losses Income: increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants Revenues and Gains

Income, Expenses, Gains & Losses Expenses: decreases in economic benefits during an accounting period in the form of outflows or depletions of assets or incurrences of liabilities, other than those relating to distributions to equity participants Include losses as well as normal categories of expenses

Income, Expenses, Gains & Losses Gains & Loses Characteristics: Result from peripheral transactions and circumstances that may be beyond entity’s control May be classified according to sources or as operating and nonooperating

Statement of Comprehensive Income Comprehensive income is the change in the entity’s net assets over the course of the reporting period arising form nonowner sources

Statement of Comprehensive Income An entity has a choice of presenting all components of comprehensive income recognized in a period either: In a single statement of comprehensive income In two statements A statement displaying components of profit or loss (separate income statement) and A second statement beginning with profit or loss and displaying components of other comprehensive income

Income Statement Major components Revenue Finance costs Share of profits and losses of associates and joint ventures accounted for by the equity method Tax expense Discontinued operations Profit or loss Minority interest Net profit attributable to equity holders in the parent

Laporan Laba Rugi Laporan laba rugi minimal mencakup pos-pos berikut: Pendapatan Laba rugi usaha Beban pinjaman Bagian dari laba atau rugi perusahaan afiliasi dan asosiasi yang diperlakukan menggunakan metode ekuitas Beban pajak Laba atau rugi dari aktivitas normal perusahan Pos luar biasa Hak minoritas Laba atau rugi bersih untuk periode berjalan

Statement of Comprehensive Income

Statement of Comprehensive Income

Statement of Changes in Equity The statement of changes in equity reflects the increases and decreases in the net assets of an entity during the period Components: Total comprehensive income for the period The effect of retrospective application or retrospective restatement Contributions from and distributions to owners A reconciliation between the carrying amount at the beginning and the end of period, separately disclosing each change, for each component of equity

Statement of Cash Flows Cash and cash equivalents include unrestricted cash, other demand deposits, and short-term investments whose maturities at the date of acquisition by the enterprise were three months or less

Statement of Cash Flows Classification: Investing activities Financing activities Operating activities Noncash investing and financing activities should be disclosed in the footnotes to the financial statements

Statement of Cash Flows Reporting cash flows from operating activities: Direct method Indirect method

Statement of Cash Flows Direct method Cash received from, and cash paid to, specific sources are presented Indirect method Converting accrual-basis net income (loss) to cash flow information by a series of add-backs and deductions

Laporan Keuangan Interim Laporan keuangan interim adalah laporan keuangan yang diterbitkan di antara dua laporan keuangan tahunan Harus dipandang sebagai bagian integral dari periode tahunan Dapat disusun secara bulanan, triwulanan, atau periode lain yang kurang dari setahun dan mencakup seluruh komponen laporan keuangan sesuai standar akuntansi keuangan

Penyajian Meliputi neraca, laporan laba rugi dan saldo laba interim, laporan arus kas, dan catatan atas laporan keuangan Disajikan komparatif dengan periode yang sama tahun sebelumnya Perhitungan laba rugi interim harus mencakup periode sejak awal tahun buku sampai dengan periode interim terakhir yang dilaporkan (year-to-date)

Akuntansi dan Pelaporan bagi Perusahaan dalam Tahap Pengembangan Dua persyaratan perusahaan dalam tahap pengembangan: Perusahaan sedang mencurahkan semua kegiatan untuk mendirikan perusahaan baru; dan Memenuhi salah satu dari dua persyaratan berikut: Kegiatan utama belum dimulai; atau Kegiatan utama telah dimulai tetapi belum menghasilkan pendapatan dalam jumlah yang material.

Akuntansi dan Pelaporan bagi Perusahaan dalam Tahap Pengembangan Laporan keuangan pokok dan informasi lainnya yang perlu disajikan: Neraca Laporan laba rugi Laporan arus kas Laporan ekuitas

The Importance of Accounting and Financial Reporting Asset, capital, and investment allocation “Contracting” and “ex post settling-up” Corporate stewardship and monitoring

The Decreasing Relevance of Accounting and Financial Reporting “Who” is the company? The changing concept of the firm Determining “what” to value: Recognition and measurement issue “When” to report? The timeliness of financial reporting “Where” and “how” financial reporting should be directed? Information distribution channels

A Different Perspective: Color vs. Black & White Move away from a model that primarily relies on black and white recognition in the financial statements Move towards a model where financial statements and related disclosures are viewed more as different layers of information

Economic Consequences Economic consequences is a concept that asserts that, despite the implications of efficient securities market theory, accounting policy choice can affect firm value

Efficient Securities Market Efficient securities market is one where the prices of securities traded on that market at all times fully reflect all information that is publicly known about those securities

Economic Consequences Essentially, the notion of economic consequences is that firms’ accounting policies and changes in policies, matter Matter to management But if matter to management, accounting policies matter to the investors

Accounting Policy Accounting policy  any accounting policy, not just one that affects a firm’s cash flows

Economic Consequences & Efficient Market Theory Economic consequences  the accounting policy will matter, despite the lack of cash flow effects Efficient market theory  the change will not matter because future cash flows are not directly affected Positive accounting theory

Positive Accounting Theory PAT is concerned with predicting such actions as the choices of accounting policies by firm managers and how managers will respond to proposed new accounting standards

Positive Accounting Theory A firm can be viewed as a nexus of contracts Many of these contracts involve accounting variables

Positive Accounting Theory 3 hypotheses: The bonus plan hypothesis The debt covenant hypothesis The political costs hypothesis

Earnings Management Earnings management is the choice by a manager of accounting policies, or actions affecting earnings, so as to achieve some specific reported earnings objective Accounting policy choice and real actions

Patterns of Earnings Management Taking a bath Income minimization Income maximization Income smoothing

The good side and bad side of earnings management Good side  efficient contracting Bas side  opportunistic