Akuntansi untuk Investasi

Mengapa perusahaan berinvestasi pada perusahan lain Pelindung Keamanan Kebutuhan kas yg musiman Investasi untuk suatu imbal hasil Lanjuttt

Invetasi untuk mendapatkan pengaruh Pembelian untuk mendapatkan pengendalian

Definisi EFEK Menurut Undang-undang pasar modal psl 1 point 5 Efek adalah surat berharga, yaitu surat pengakuan hutang, surat berharga komersial, saham, obligasi, tanda bukti hutang, unit penyertaan, kontrak investasi kolektif, kontrak berjangka atas efek, dan setiap derifatif dari efek

Klasifikasi efek Investasi Efek Hutang Umumnya memiliki karakteristik sebagai berkut: 1. Nilai jatuh temponya mewakili nilai yang harus dibayarkan pada pemegang efek hutang pd saat jatuh tempo. 2. Suatu tingkat bunga yg menetapkan pembayaran bunga secara periodik. 3. Tanggal jatuh tempo yg mengindikasikan kapan kewajiban akan diselesaikan

Klasifikasi efek investasi Efek ekuitas Mewakili kepemilikan dalam suatu perusahaan. Lembar-lembar saham ini biasanya mengandung hak untuk memperoleh deviden dan untuk memberikan suara dalam kegiatan perusahaan. Dan memiliki potensi untuk kenaikan secara signifikan atas harga efek tsb.

Klasifikasi efek investasi Efek Hutang/ Ekuitas Hingga jatuh tempo Efek dibeli untuk tujuan ditahan hingga jatuh temponya Diper- dagang- kan Efek dibeli dengan tujuan untuk dijual dalam waktu dekat Tersedia u/ dijual Efek yg tidak dikategorikan diperdagangkan atau ditahan hingga jatuh tempo.

Efek-efek dipasar Modal Saham Obligasi Derivatif (warans, rights, option, futures contract) Efek lain (unit penyertaan reksa dana dan efek beragun aset

Saham Surat berharga sebagai bukti penyertaan atau pemilikan individu maupun institusi dalam suatu perusahaan

Beberapa istilah penting saham Laba per saham, laba bersih setelah pajak dibagi dengan jumlah lembar saham yg telah disetor Kapitalisasi, perkalian harga saham di bursa (market price) dg jumlah lembar saham yg disetor Capital gain/loss, keuntungan/kerugian yg diperoleh investor dari selisih harga beli dan harga jual suatu saham

Nilai nominal, nilai yg tertera pd lembar saham yg besarnya ditentukan dalam anggaran dasar perusahaan Nilai buku per saham, total nilai ekuitas dibagi total jumlah saham yg beredar Nilai pasar, harga jual saham Deviden, bagian keuntungan perusahaan yang dibagikan kepada pemegang saham Price earning rasio, rasio harga pasar saham dengan laba per saham

Klasifikasi efek investasi Hutang ekuitas Ditahan hingga jth tempo Tersedia u/dijual diperdagangkan Metode ekuitas Metode biaya

Investasi dalam saham biasa Metode yg digunakan tergantung dari pengaruh atau kontrol yg dilakukan oleh investor terhadap perusahaan yg ingin dikuasainya (investee) Besarnya pengaruh ini merupakan faktor utama untuk menjelaskan apa yg investor dan investe tampilkan dalam laporan keuangan yg merupakan investasi dalam saham biasa, berdasarkan metode Cost (biaya) atau metode Equity (Ekuitas).

Investasi dalam saham biasa Konsolidasi melibatkan penggabungan untuk pelaporan keuangan aktiva, kewajiban, pendapatan dan beban individual untuk dua atau lebih perusahaan yang berhubungan istimewa seakan-akan mereka adalah satu perusahaan.

Konsolidasi umumnya merupakan pengendalian oleh suatu perusahaan (induk perusahaan/parent) terhadap perusahaan lainnya (anak perusahaan/subsidiary)

Metode ekuitas digunakan untuk pelaporan eksternal jika investor mempunyai pengaruh signifikan dalam kebijakan operasi dan keuangan investee dan konsolidasi tidak sesuai. Metode ekuitas tidak dapat digunakan sebagai pengganti konsolidasi jika konsolidasi sesuai. Metode ekuitas digunakan utamanya untuk pelaporan investasi selain pada anak perusahaan, metode ini paling sering digunakan jika suatu perusahaan mempunyai kepemilikan 20 – 50 % pada saham perusahaan lain.

Metode biaya digunakan dalam pelaporan investasi dalam efek ekuitas yang tidak diperdagangkan jika konsolidasi dan metode ekuitas tidak sesuai untuk digunakan. Untuk efek ekuitas yang diperdagangkan, jika konsolidasi dan metode tidak sesuai untuk digunakan, investasi biasanya dicatat menggunakan metode biaya dan disesuaikan dengan nilai pasar.

Kriteria untuk menentukan besarnya pengaruh suatu perusahaan Representation on the investee’s Board of Directors Participation in the investee’s policy-making process Material intercompany transactions. Interchange of managerial personnel. Technological dependency. Extent of ownership in relationship to other ownership percentages. 6

Ukuran signifikansi suatu investasi Kepemilikan Investor atas saham beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Dalam bbrp kasus pengaruh/pengendalian dapat terjadi dg kepemilikan kurang dari 20%. 8

Ukuran siknifikan suatu investasi Kepemilikan Investor atas saham beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Pengaruh siknifikan umumya diasumsikan berkisar antara 20% -50% kepemilikan. 9

Ukuran siknifikan suatu investasi Hak pemilikan Investor atas saham yg beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Laporan keuangan thd suatu perusahaan yg berhubungan harus di konsolidasi. 9

Cost Method/Metode biaya ABC Company membeli 20 % saham biasa XYZ seharga $100,000 pd awal tahun tapi tidak berpengaruh signifikan atas XYZ. Investasi pd XYZ saham biasa $100,000 Kas $100,000

Cost Method Selama periode berjalan, laba XYZ $50,000 digunakan untuk bayar deviden $20,000. Kas ($20,000 X .20) $4,000 Pendapatan deviden $4,000

The Equity Method— Pengaruh signifikan (20 - 50 %) Pengaruh pada Investor: Mencatat pendapatan/kerugian dari investasi, meningkatkan/menurunkan akun investasi. Mencatat aktiva(kas/piutang), menurunkan akun investasi Dilaporkan oleh Investee: Laba/rugi bersih Pengumuman deviden

The Equity Method—Equity Accrual ABC Company menguasai signifikan XYZ Company dg membeli 20 % saham biasa XYZ Company laba pada tahun berjalan XYZ $60,000. Jurnal laba atas Investasi ABC di XYZ Investasi pd saham biasa ($60,000 X .2) $12,000 pendapatan dari Investee $12,000

Equity pengakuan Dividends Jika XYZ mengumumkan pembayaran deviden $20,000 jurnal yg dibuat ABC Kas ($20,000 X .20) $4,000 Investasi pd saham Biasa XYZ $4,000

Efek metode ekuitas Efek ekuitas Tujuannya agar dapat mengendalikan atau mempengaruhi secara signifikan operasi dari perusahaan target .

Different Accounting Treatments Disclosure on the Balance Sheet Treatment of Temporary Changes in Value Classification of Securities Types of Securities Held to maturity Debt Amortized cost Not recognized Available for sale Debt/equity Fair market value Reported in stockholders’ equity Trading Debt/equity Fair market value Reported on the income statement Equity method Equity Historical cost Not recognized adjusted for changes in the assets of the investee

Purchases of Debt Securities On May 1, Douglas Company purchases $100,000 in U.S. Treasury notes at 104¼, including brokerage fees. Interest is 9% payable semiannually on January 1 and July 1. The debt securities are classified by the purchaser as trading securities. Accrued interest on May 1 is $3,000, calculated as follows: $100,000 x .09 x 4/12 = $3,000

Purchases of Debt Securities Asset Approach Purchase date: May 1 Investment in Trading Securities 104,250 Interest Receivable 3,000 Cash 107,250 Continued

Purchases of Debt Securities Revenue Approach Purchase date: May 1 Investment in Trading Securities 104,250 Interest Revenue 3,000 Cash 107,250 Continued

Purchases of Debt Securities Receipt of semiannual payment: July 1 Cash 4,500 Interest Receivable 3,000 Interest Revenue 1,500 Asset Approach July 1 Cash 4,500 Interest Revenue 4,500 Revenue Approach

Purchase of Equity Securities Purchased 10,000 shares of Dave’s Deli common shares at $2 per share. Treated as available-for-sale because management has no intention of holding these securities for a a long period of time and will sell them as soon as it is economically advantageous

Purchase of Equity Securities Citty Co. purchased 1,000 shares of AB Company common shares at $2 per share. Available-for-Sale Investment in Available-for- Sale Securities—AB Company 2,000 Cash 2,000

Purchase of Equity Securities Citty Co. purchased 100,000 shares of AB Company common shares at $2 per share. Assume that the 100,000 shares purchased represents 20 percent of the outstanding voting stock of AB Company. This investment gives the investor significant influence over AB Company.

Purchase of Equity Securities Purchased 100,000 shares of Dave’s Deli common shares at $2 per share. Trading Securities Investment in Trading Securities— AB Company Common Stock 2,000 Cash 2,000

PV of Debt Securities On January 1, 2004, Silmaril Technologies purchased 5-year, 10% bonds with a face value of $100,000 and interest payable semiannually on January 1 and July 1. The market rate on bonds of similar quality and maturity is 8%.

PV of Debt Securities Present value of principal: FV = $100,000; N = 10; I = 4% $ 67,556 Present value of interest payments: PMT = $5,000; N = 10; I = 4% 40,554 Total present value of the bonds $108,110 Investment in Trading Securities 108,100 Cash 108,100

Interest Revenue for Debt Securities (Trading) When the first interest payment is received from Silmaril, the following entry would be made: July 1 Cash 5,000 Interest Revenue 5,000

Interest Revenue for Debt Securities (Held-to-Maturity) When the first interest payment is received from Silmaril, the following entry would be made: July 1 Cash 5,000 Interest Revenue 4,324 Investment in Held-to- Maturity Securities 676 $108,110 x .04

Interest Revenue for Debt Securities (Held-to-Maturity) When the second interest payment is received, the interest revenue is determined by the yield times the bond carrying value. Jan 1 Cash 5,000 Interest Revenue 4,297 Investment in Held-to- Maturity Securities 703 $107,434 x .04

Determining the Appropriate Accounting Method Account for as trading or available-for-sale Equity method and consolidation procedures Equity method Ownership Percentage No significant influence Significant influence Control 0% 20% 50% 100%

Determining the Appropriate Accounting Method In the absence of persuasive evidence to the contrary, equity securities are classified as trading or available for sale when ownership is less than 20 percent. Summary

Determining the Appropriate Accounting Method The equity method is used when ownership is such that the investor has the ability to significantly influence or control the investee’s operations. Summary

Control or Degree of Influence Determining the Appropriate Accounting Method Control or Degree of Influence Ownership Interest Accounting Method Applicable Standard More than 50% Control Equity method APB Opinion #18 and consolidation FASB Exposure procedures Draft 20% to 50% Significant Equity method APB Opinion #18 influence Less than 20% No Account for as FASB Statement significant trading or No. 115 influence available for sale

Revenue for Equity Securities Classified as Trading and AFS AB Company announces dividends of $0.25 per share. Assume that Citty Co. owns 1,000 shares Cash 250 Dividend Revenue 250

Revenue for Equity Securities Classified as Trading and AFS AB Company announces dividends of $0.25 per share. Assume that Citty Co. owns 100,000 which represents 50 percent of the outstanding voting stock. Cash 25,000 Investment in AB Company Stock 25,000

Revenue for Equity Securities Classified as Trading and AFS AB Company reports an income of $250,000 for the year. Again, assume that Citty Co. owns 50 percent of the outstanding voting stock. Investment in AB Company Stock 125,000 Income from Investment in AB Company Stock 125,000

Equity Method: Purchase For More than Book Value The net assets of Stewart Inc. was $500,000 at the time Phillips Manufacturing Co. purchased 40% of the common shares for $250,000 on January 1, 2005. The market value of the net assets of Stewart Inc. would be $625,000, which is $125,000 more than the book value. Only $50,000 of this is attributed to depreciable assets. $250,000 ÷ .40

Equity Method: Purchase For More than Book Value The average remaining life of the depreciable assets is 10 years and the special operating license is to be amortized over 20 years. Additional depreciation ($50,000 x 0.40)/10 $2,000 License amortization ($75,000 x 0.40)/20 1,500 $3,500

Equity Method: Purchase For More than Book Value Stewart Inc. declared and paid dividends of $70,000 to common stockholders during 2005, and it reported net income of $150,000 for the year ended December 31, 2005.

Equity Method: Purchase For More than Book Value Investment in Stewart Inc. Common Stock Acquisition cost 250,000 Share of earnings 60,000 Dividends 28,000 Additional depreciation 2,000 amortization 1,500 310,000 31,500 Balance 278,500

Accounting for Temporary Changes in Value of Securities Classification of Security Disclosed at Report FMV Change On Fair market Income Trading value statement Available- for-sale Fair market value Stockholder’s equity Held-to- maturity Amortized cost Not recognized

Accounting for Temporary Changes in Value of Securities Eastwood Inc. purchased the following securities on March 23, 2005. Trading securities: Purchase price (Security #1) $ 8,000 Value end of year (#1) $ 7,000 Purchase price (#2) $ 3,000 Value end of year (#2) $ 3,500 Available-for-sale securities: Purchase price (#3) $ 5,000 Value end of year (#3) $ 6,100 Continued

Accounting for Temporary Changes in Value of Securities Available-for-sale securities: Purchase price (#4) $12,000 Value end of year (#4) $11,500 Held-to-maturity securities: Purchase price (#5) $20,000 Value end of year (#5) $19,000 Continued

Accounting for Temporary Changes in Value of Securities Initial Purchase Entry Investment in Trading Securities 11,000 Investment in Available-for-Sale Securities 17,000 Investment in Held-to-Maturity Securities 20,000 Cash 48,000 Continued

Accounting for Temporary Changes in Value of Securities By the end of the year, the value of the trading securities decreased from $11,000 to $10,500. December 31, 2005: Unrealized Loss on Trading Securities 500 Market Adjustment—Trading Securities 500 Continued

Accounting for Temporary Changes in Value of Securities By the end of the year, the value of the available-for-sale securities increased from $17,000 to $17,600. December 31, 2005: Market Adjustment—Available-for-Sale Securities 600 Unrealized Increase/Decrease in Value of Available-for-Sale Securities 600

Accounting for Temporary Changes in Value of Securities FASB No. 115 puts an end to “cherry-picking.” This is the practice of selectively selling securities whose prices have increased, while keeping those that have experienced losses or have maintained their historical cost.

Accounting for Temporary Changes in Value of Securities Partial Balance Sheet for Eastwood Inc. Assets Invest. in trading securities $11,000 Market adjustment—trading sec. (500) $10,500 Invest. in available-for-sale sec. $17,000 Market adjustment 600 17,600 Invest. in held-to-maturity sec. 20,000 $48,100 Stockholders’ Equity Add unrealized increase in available-for-sale securities $ 600

Accounting for Temporary Changes in Value of Securities Partial Income Statement for Eastwood Inc. Other expenses and losses: Unrealized loss on trading securities $500

Sale of Securities On April 1, 2005, the investment in Silmaril’s debt securities is sold for $103,000, which includes accrued interest of $2,500. Interest revenue of $2,105 ($105,248 x .08 x 3/12) would be recorded. On January 1, the debt securities had a carrying value of $105,248. The required amortization for the three-months’ premium between January 1 and April 1 is $395.

Sale of Securities Entry to record accrued revenue and to amortize premium: Apr. 1 Interest Receivable 2,500 Investment in Held-to Maturity Securities 395 Interest Revenue 2,105 Entry to record sale: Apr. 1 Cash 103,000 Realized Loss on Sale of Securities 4,353 Interest Receivable 2,500 Investment in Held-to Maturity Securities 104,853

Transferring Securities Between Categories Treatment of Transferred Change in Value From trading Any unrealized change in value not previously recognized will be recognized in net income in the current period. To trading Any unrealized change in value not previously recognized will be recognized in net income in the current period. From held to maturity to available for sale Recognize any unrealized change in value in a stockholders’ equity account. Continued

Transferring Securities Between Categories Treatment of Transferred Change in Value From available for sale to held to maturity Any unrealized change in value recorded in a stockholders’ equity account is to be amortized over the security’s remaining life using the effective-interest method. Statement of Financial Standards No. 115, par. 15d

Transferring Securities Between Categories Assume: Cost of trading security $3,000 Fair market value, end of 2006 3,600 Fair market value at transfer date 3,800 Continued

Transferring Securities Between Categories Investment in Available-for-Sale Securities 3,800 Market Adjustment--Trading Securities 600 Unrealized Gain on Transfer of Securities 200 Investment in Trading Securities 3,000

Transferring Securities Between Categories Assume: Cost of available-for-sale security $12,000 Fair market value, end of 2006 10,700 Transfer from the available-for-sale category to the trading security category. Continued

Transferring Securities Between Categories Investment in Trading Securities 10,300 Market Adjustment--Trading Securities 1,300 Unrealized Loss on Transfer of Securities 1,700 Unrealized Increase/Decrease in Value of Available-for- Sale Securities 1,300 Investment in Available-for- Sale Securities 12,000

Transferring Securities Between Categories Assume: Cost of held-to-maturity security 20,000 Fair market value, Dec. 31, 2006 20,700 Record a transfer from held-to-maturity to the available-for-sale category. Continued

Transferring Securities Between Categories Investment in Available-for- Sale Securities 20,400 Unrealized Increase/ Decrease in Value of Available-for-Sale Securities 400 Investment in Held-to- Maturity Securities 20,000

Transferring Securities Between Categories Assume: Cost of available-for-sale securities $5,000 Fair market value, end of 2006 6,500 Fair market value at transfer date 5,900 Record a transfer from available-for-sale to held-to-maturity. Continued

Transferring Securities Between Categories Investment in Held-to-Maturity Securities 5,900 Unrealized Increase/Decrease in Value of Available-for-Sale Securities 600 Investment in Available-for- Sale Securities 5,000 Market Adjustment— Available-for-Sale Securities 1,500

Cash Flows from Gains and Losses on Available-for-Sale Caesh Company began with a $1,000 investment on January 1, 2005. Cash sales $1,700 Cash expenses (1,400) Purchases of investment securities (600) Sale of investment securities (costing $200) 170 Continued

Cash Flows from Gains and Losses on Available-for-Sale The market value of the remaining securities was $500 on December 31, 2005. Sales $1,700 Expenses (1,400 ) Operating income $ 300 Realized loss on sale of securities (30 ) Net income $ 270 Continued

Cash Flows from Gains and Losses on Available-for-Sale Caesh Company will report a $100 unrealized increase in the value of it available-for-sale portfolio. This $100 unrealized increase is reported as an increase in Accumulated Other Comprehensive Income. Continued

Cash Flows from Gains and Losses on Available-for-Sale The statement of cash flows for Caesh Company for 2005 appear as follows: Operating activities: Net income $ 270 Plus realized loss on sale of securities 30 $ 300 Investing activities: Purchase of investment securities $(600) Sale of investment securities 170 (430) Financing activities: Initial investment by owner 1,000 Net increase in cash $ 870

Classification and Disclosure Trading securities The change in net unrealized holding gain or loss that is included in the income statement. Available-for-sale securities Aggregate fair value, gross unrealized holding gains and gross unrealized holding losses, and amortized cost basis by major security type. The proceeds from sales of available-for-sale securities and the gross realized gains and losses on those sales and the basis on which cost was determined in computing realized gains and losses. Continued

Classification and Disclosure Available-for-sale securities (continued): The change in net unrealized holding gain or loss on available-for-sale securities that has been included in stockholders’ equity during the period. Held-to-maturity securities: Aggregate fair value, gross unrealized holding gains and gross unrealized holding losses, and amortized cost basis by major security type. The company should disclose information about contractual maturities. Continued

Classification and Disclosure Transfers of securities between categories: Gross gains and losses included in earnings from transfers of securities from available-for-sale into the trading category. For securities transferred from held-to-maturity, the company should disclose the amortized cost amount transferred, the related realized or unrealized gain or loss, and the reason for transferring the securities.

chapter 14 The End