AKUNTANSI PENDAPATAN DARI KONTRAK PELANGGAN PSAK 72

AKUNTANSI PENDAPATAN DARI KONTRAK PELANGGAN PSAK 72

Agenda Perubahan Standar Akuntansi Pendapatan Kontrak Pelanggan
Ilustrasi

PSAK 72 PSAK 72 merupakan adopsi IFRS 15 Revenue from contracts with customers effective 2018, kecuali: Item terkait IFRS 16 Leases (karena belum diadopsi)  hak penggunaan aset Tanggal efektif dan penarikan standar yang telah ada Standar ini bersifat principles based Standar komprehensif karena mengatur semua jenis Pendapatan yang terkait dengan kontrak pelanggan sehingga menghilangkan pengaturan dalam standar yang lain. 3

PSAK yang Digantikan PSAK 23: Pendapatan PSAK 34: Kontrak Konstruksi,
ISAK 10: Program Loyalitas Pelanggan, ISAK 21: Perjanjian Konstruksi Real Estat, ISAK 27: Pengalihan Aset dari Pelanggan, dan PSAK 44: Akuntansi Aktivitas Pengembangan Real Estate. 4

PSAK 72 Standar Lampiran A - Daftar Istilah
Lampiran B – Pedoman Penerapan Lampiran C – Tanggal Efektif dan Ketentuan Transasi Contoh Ilustratif Lampiran D – Penyesuaian terhadap Pernyataan Lain 5

PSAK 72 Pendahuluan tujuan dan ruang lingkup Pengakuan
Identifikasi kontrak, kombinasi kontrak, modifikasi kontrak, identifikasi dan penyelesaian kewajiban Pengakuan Menentukan, mengalokasikan harga transaksi, perubahan Pengukuran Biaya incremental, pemenuhan kontrak, amortisasi dan penurunan nilai Biaya Kontrak Penyajian Pengungkapan 6

Tahapan dalam Pengakuan
Mengidentifikasi kontrak dengan pelanggan ; Mengindentifikasi kewajiban pelaksanaan; Menentukan harga transaksi; Mengalokasikan harga transaksi terhadap kewajiban pelaksanaan; Mengakui pendapatan ketika (pada saat) entitas telah menyelesaikan kewajiban pelaksanaan. 7

Tujuan Menetapkan prinsip tentang sifat, jumlah, waktu, dan ketidakpastian pendapatan dan arus kas yang timbul dari kontrak dengan pelanggan. Pencapaian tujuan Mengakui pendapatan untuk menggambarkan pengalihan barang atau jasa yang dijanjikan kepada pelanggan Mempertimbangkan syarat kontrak serta seluruh fakta dan keadaan yang relevan Untuk kontrak individual dan portfolio kontrak 8

Ruang Lingkup Untuk seluruh kontrak dengan pelanggan, kecuali:
kontrak sewa - PSAK 30 Sewa; kontrak asuransi - PSAK 62 Kontrak Asuransi; instrumen keuangan - PSAK 71: Instrumen Keuangan, PSAK 65: Laporan Keuangan Konsolidasian, PSAK 66: Pengaturan Bersama, PSAK 4: Laporan Keuangan Tersendiri dan PSAK 15 Investasi pada Entitas Asosiasi dan Ventura Bersama; dan Pertukaran nonmoneter antara entitas dalam lini bisnis yang sama untuk memfasilitasi penjualan kepada pelanggan atau pelanggan potensial  kontrak antara dua perusahaan minyak untuk menukarkan minyak untuk memenuhi permintaan dari pelanggan dalam lokasi yang berbeda secara tepat waktu. 9

Pengakuan Indentifikasi kontrak Kombinasi kontrak Modifikasi kontrak
Identifikasi kewajiban pelaksanaan Penyelesaian kewajiban pelaksanaan 10

Mengidentifikan Kontrak – Par 9
Entitas mencatat kontrak dengan pelanggan hanya jika seluruh kriteria berikut terpenuhi: para pihak dalam kontrak telah menyetujui kontrak (secara tertulis, lisan atau sesuai dengan praktik bisnis pada umumnya) dan berkomitmen untuk melaksanakan kewajiban mereka masing-masing; entitas dapat mengidentifikasi hak setiap pihak mengenai barang atau jasa yang akan dialihkan; entitas dapat mengidentifikasi jangka waktu pembayaran barang atau jasa yang akan dialihkan; kontrak memiliki substansi komersial (yaitu risiko, waktu, atau jumlah arus kas masa depan entitas diperkirakan berubah sebagai akibat dari kontrak); dan kemungkinan besar entitas akan menagih imbalan yang akan menjadi haknya dalam pertukaran barang atau jasa yang akan dialihkan ke pelanggan. Dalam mengevaluasi apakah kolektibilitas terjadi, entitas mempertimbangkan kemampuan dan intensi pelanggan untuk membayar jumlah imbalan ketika jatuh tempo. Jumlah imbalan yang akan menjadi hak entitas mungkin lebih kecil dari jumlah yang tercatat dalam kontrak jika imbalan bersifat variabel karena entitas dapat menawarkan suatu konsesi harga kepada pelanggan (par 52) 11

Mengidentifikan Kontrak – tidak terlaksana
Tidak terdapat suatu kontrak, jika setiap pihak dalam kontrak memiliki hak yang dapat dipaksakan secara sepihak untuk mengakhiri kontrak tak terlaksana penuh (wholly unperformed contract) tanpa adanya kompensasi kepada pihak lain. Sebuah kontrak tak terlaksana penuh jika kedua kriteria berikut terpenuhi: entitas belum mengalihkan barang atau jasa yang dijanjikan kepada pelanggan; dan entitas belum menerima, dan belum berhak menerima, imbalan apapun dalam pertukaran dengan barang atau jasa yang dijanjikan 12

Mengidentifikan Kontrak – tidak memenuhi kriteria
Jika kontrak tidak memenuhi kriteria paragraph 9 dan entitas menerima imbalan dari pelanggan, maka imbalan tersebut diakui sebagai pendapatan jika salah satu kriteria terpenuhi: entitas tidak memiliki sisa kewajiban untuk mengalihkan barang atau jasa kepada pelanggan dan seluruh, atau secara substansial seluruh, imbalan yang dijanjikan pelanggan telah diterima entitas dan tidak dapat dikembalikan; atau kontrak telah diakhiri dan imbalan yang diterima dari pelanggan tidak dapat dikembalikan. 13

Kombinasi Kontrak Entitas mengombinasikan dua atau lebih kontrak yang disepakati dan mencatat kontrak tersebut sebagai kontrak tunggal jika satu atau lebih kriteria berikut terpenuhi: kontrak dinegosiasikan sebagai satu paket dengan tujuan komersial tunggal; jumlah imbalan yang dibayarkan dalam satu kontrak bergantung pada harga atau pelaksanaan dari kontrak lain; atau barang atau jasa yang dijanjikan dalam kontrak (atau beberapa barang atau jasa yang dijanjikan dalam setiap kontrak) merupakan kewajiban pelaksanaan tunggal sesuai dengan paragraf 14

Modifikasi Kontrak Modifikasi kontrak adalah perubahan dalam ruang lingkup atau harga kontrak (atau keduanya) yang disetujui oleh para pihak dalam kontrak. Entitas mencatat sebagai kontrak terpisah jika kondisi berikut terpenuhi: ruang lingkup kontrak meningkat karena penambahan barang atau jasa yang dijanjikan bersifat dapat dibedakan (distinct) (sesuai dengan paragraf 26-30); dan harga kontrak meningkat oleh sejumlah imbalan yang mencerminkan harga jual berdiri sendiri (stand-alone selling prices) entitas atas penambahan barang atau jasa yang dijanjikan dan penyesuaian yang tepat terhadap harga yang mencerminkan keadaan kontrak tertentu. 15

Modifikasi Kontrak – tidak terpisah
Modifikasi kontrak tidak dicatat sebagai kontrak terpisah Entitas mencatat barang atau jasa yang dijanjikan yang belum dialihkan pada tanggal modifikasi kontrak dengan cara manapun di bawah ini yang dapat diterapkan: Entitas mencatat modifikasi kontrak seolah-olah modifikasi kontrak tersebut merupakan penghentian kontrak yang ada dan menciptakan kontrak baru, jika sisa barang atau jasa bersifat dapat dibedakan dari barang atau jasa yang dialihkan pada atau sebelum tanggal modifikasi kontrak. Entitas mencatat modifikasi kontrak seolah-olah modifikasi kontrak tersebut merupakan bagian dari kontrak yang ada jika sisa barang atau jasa tidak bersifat dapat dibedakan dan, oleh karena itu, menjadi bagian dari kewajiban pelaksanaan tunggal yang dipenuhi sebagiannya pada tanggal modifikasi kontrak. 16

Mengidentifikan Kewajiban Pelaksanaan
Pada awal kontrak, entitas menilai barang atau jasa yang dijanjikan dalam kontrak dengan pelanggan dan mengidentifikasi sebagai kewajiban pelaksanaan setiap janji untuk mengalihkan kepada pelanggan baik: suatu barang atau jasa (atau sepaket barang atau jasa) yang bersifat dapat dibedakan; atau serangkaian barang atau jasa yang bersifat dapat dibedakan yang secara substansial sama dan memiliki pola pengalihan yang sama kepada pelanggan (lihat paragraf 23). 17

Mengidentifikan Kewajiban Pelaksanaan
Barang atau jasa memiliki pola pengalihan yang sama kepada pelanggan jika kedua kriteria berikut terpenuhi: setiap barang atau jasa yang bersifat dapat dibedakan dalam suatu rangkaian di mana entitas berjanji untuk mengalihkan kepada pelanggan akan memenuhi kriteria dalam paragraf 35 sebagai kewajiban pelaksanaan yang diselesaikan sepanjang waktu; dan sesuai dengan paragraf 39-40, metode yang sama akan digunakan untuk mengukur kemajuan entitas terhadap terpenuhinya penyelesaian kewajiban pelaksanaan untuk mengalihkan setiap barang atau jasa yang bersifat dapat dibedakan dalam suatu rangkaian kepada pelanggan. 18

Mengidentifikasi Kewajiban Pelaksanaan
Kontrak umumnya secara eksplisit menyatakan barang atau jasa yang dijanjikan untuk dialihkan kepada pelanggan. Akan tetapi, kewajiban pelaksanaan tidak terbatas pada barang atau jasa yang secara eksplisit dinyatakan dalam kontrak. Janji kontrak dengan pelanggan Penjualan barang yang diproduksi; yang dibeli Pelaksanaan tugas Penyediaan jasa; jasa pengaturan Pembagian hak kepada barang dan jasa, dll Barang atau jasa Bersifat dapat Dibedakan 19

Barang atau Jasa Bersifat dapat Dibedakan
Barang atau jasa yang dijanjikan kepada pelanggan bersifat dapat dibedakan jika kedua kriteria berikut terpenuhi: pelanggan memperoleh manfaat dari barang atau jasa baik barang atau jasa itu sendiri atau bersama dengan sumber daya lain yang siap tersedia kepada pelanggan (yaitu barang atau jasa yang bersifat dapat dibedakan); dan janji entitas untuk mengalihkan barang atau jasa kepada pelanggan dapat diidentifikasi secara terpisah dari janji lain dalam kontrak (yaitu janji untuk mengalihkan barang atau jasa yang bersifat dapat dibedakan dalam konteks kontrak tersebut). Jika barang atau jasa yang dijanjikan bersifat tidak dapat dibedakan, entitas mengombinasikan barang atau jasa dengan barang atau jasa lain yang dijanjikan sampai entitas mengidentifikasi sepaket barang atau jasa tersebut bersifat dapat dibedakan. 20

Penyelesaian Kewajiban Pelaksanaan
Kewajiban Pelaksanaan yang Diselesaikan pada Waktu Tertentu Metode Pengukuran Kemajuan Pengukuran Kemajuan yang Rasional Pengukuran Kemajuan terhadap Penyelesaian Kewajiban Pelaksanaan secara penuh 21

Penyelesaian Kewajiban Pelaksanaan
Entitas mengakui pendapatan ketika (atau selama) entitas menyelesaikan kewajiban pelaksanaan dengan mengalihkan barang atau jasa yang dijanjikan (yaitu aset) kepada pelanggan. Aset dialihkan ketika (atau selama) pelanggan memperoleh pengendalian atas aset. Pada awal kontrak entitas menentukan apakah entitas menyelesaikan kewajiban pelaksanaan sepanjang waktu (sesuai dengan paragraf 35-37) atau menyelesaikan kewajiban pelaksanaan pada suatu waktu tertentu (sesuai dengan paragraf 38). 22

Kewajiban Pelaksanaan yang Diselesaikan Sepanjang Waktu (Performance Obligation Over Time)
Entitas mengalihkan pengendalian barang atau jasa sepanjang waktu  menyelesaikan kewajiban pelaksanaan dan mengakui pendapatan sepanjang waktu, jika satu dari kriteria berikut terpenuhi: pelanggan secara simultan menerima dan mengonsumsi manfaat yang disediakan oleh kinerja entitas saat entitas melaksanakan kewajiban pelaksanaannya tersebut (lihat paragraf PP03-PP04); kinerja entitas menciptakan atau meningkatkan aset (sebagai contoh, pekerjaan dalam proses) yang dikendalikan pelanggan sebagai aset yang diciptakan atau ditingkatkan (lihat paragraph PP05); atau kinerja entitas tidak menciptakan suatu aset dengan penggunaan alternatif terhadap entitas (lihat paragraf 36) dan entitas memiliki hak yang dapat dipaksakan untuk pembayaran kinerja yang 23

Kewajiban Pelaksanaan yang Diselesaikan Pada Waktu Tertentu (Performance Obligation At a Point In Time) Jika kewajiban pelaksanaan tidak diselesaikan sepanjang waktu, maka entitas menyelesaikan kewajiban pelaksanaan pada waktu tertentu. Untuk menentukan waktu tertentu dimana pelanggan memperoleh pengendalian atas aset yang dijanjikan dan entitas menyelesaikan kewajiban pelaksanaan, entitas mempertimbangkan persyaratan pengendalian. Sebagai tambahan, entitas mempertimbangkan indikator pengalihan pengendalian, yang mencakup, tetapi tidak terbatas pada, hal berikut: Entitas memiliki hak kini atas pembayaran aset Pelanggan memiliki memiliki hak kepemilikan legal atas aset Entitas telah mengalihkan kepemilikan fisik atas aset Pelanggan memiliki risiko dan manfaat signifikan atas kepemilikan aset Pelanggan telah menerima aset 24

Kewajiban Pelaksanaan yang Diselesaikan Pada Waktu Tertentu (Performance Obligation At a Point In Time) Pengendalian mencakup kemampuan untuk mencegah entitas lain mengarahkan penggunaan atas, dan memperoleh manfaat dari, aset. Manfaat atas aset adalah arus kas potensial (arus masuk atau penghematan arus keluar) yang dapat diperoleh secara langsung atau tidak langsung dalam berbagai cara, seperti dengan: menggunakan aset untuk memproduksi barang atau menyediakan jasa (termasuk jasa publik); menggunakan aset untuk meningkatkan nilai aset lain; menggunakan aset untuk menyelesaikan liabilitas atau mengurangi beban; menjual atau mempertukarkan aset; menjaminkan aset untuk perolehan pinjaman; dan memiliki aset. 25

Pengukuran kemajuan terhadap penyelesaian kewajiban – sepanjang waktu
Untuk setiap kewajiban pelaksanaan yang diselesaikan sepanjang waktu entitas mengakui pendapatan sepanjang waktu dengan mengukur kemajuan terhadap penyelesaian kewajiban pelaksanaan secara penuh. Tujuan: untuk menggambarkan kinerja entitas dalam mengalihkan pengendalian atas barang atau jasa yang dijanjikan kepada pelanggan. Entitas menerapkan metode tunggal atas pengukuran kemajuan untuk setiap kewajiban pelaksanaan yang diselesaikan sepanjang waktu dan entitas menerapkan metode tersebut secara konsisten terhadap kewajiban pelaksanaan serupa dan dalam keadaan serupa. Pada setiap akhir periode pelaporan, entitas mengukur kembali kemajuan terhadap penyelesaian kewajiban pelaksanaan secara penuh yang diselesaikan sepanjang waktu. Metode pengukuran kemajuan sesuai dengan sifat barang dan jasa: Metode output Merode input 26

Pengukuran Imbalan Variabel Liabilitas Pengemalian
Estimasi Pematasan Imbalan Variabel Penentuan kembali Imbalan Variabel Keberadaan Komponan Pendanaan Signifikan dalam Kontrak Imbalan Non Kas Uang Imbalan kepada Pelanggan Menentukan harga transaksi Mengalokasikan harga transaksi terhadap kewajiban Pelaksanaan Perubahan dalam Harga Transaksi 27

Pengukuran Ketika (atau selama) kewajiban pelaksanaan diselesaikan, entitas mengakui pendapatan atas sejumlah harga transaksi (yang tidak termasuk estimasi atas imbalan variabel yang dibatasi) yang dialokasikan terhadap kewajiban pelaksanaan. 28

Menentukan Harga Transaksi
Mempertimbangkan syarat kontrak dan praktik bisnis umum entitas untuk menentukan harga transaksi. Harga transaksi adalah jumlah imbalan yang diperkirakan menjadi hak entitas dalam pertukaran untuk mengalihkan barang atau jasa yang dijanjikan kepada pelanggan, tidak termasuk jumlah yang ditagih atas nama pihak ketiga (contoh:pajak). Imbalan yang dijanjikan dalam kontrak dengan pelanggan dapat mencakup jumlah tetap, jumlah variabel, atau keduanya. 29

Menentukan Harga Transaksi
Entitas mempertimbangkan syarat kontrak dan praktik bisnis umum entitas untuk menentukan harga transaksi. Sifat, waktu, dan jumlah imbalan yang dijanjikan oleh pelanggan mempengaruhi estimasi harga transaksi. Ketika menentukan harga transaksi, entitas mempertimbangkan dampak dari seluruh hal berikut: imbalan variabel; estimasi pembatas imbalan variabel; keberadaan komponen pendanaan signifikan dalam kontrak; imbalan nonkas; dan utang imbalan kepada pelanggan. 30

Mengalokasikan Harga Transaksi terhadap Kewajiban Pelaksanaan
Tujuan mengalokasikan harga transaksi adalah entitas mengalokasikan harga transaksi terhadap setiap kewajiban pelaksanaan (atau barang atau jasa bersifat dapat dibedakan) dalam jumlah yang menggambarkan jumlah imbalan yang diharapkan menjadi hak entitas dalam pertukaran untuk mengalihkan barang atau jasa yang dijanjikan kepada pelanggan. Entitas mengalokasikan harga transaksi terhadap setiap kewajiban pelaksanaan yang diidentifikasi dalam kontrak dengan: dasar harga jual berdiri sendiri relatif (relative stand-alone selling price), kecuali diatur khusus untuk alokasi diskon dan untuk alokasi imbalan yang mencakup variabel. 31

Perubahan Harga Transaksi
Entitas mengalokasikan ke dalam kewajiban pelaksanaan dalam kontrak perubahan selanjutnya atas harga transaksi dengan dasar yang sama dengan pada awal kontrak. Entitas mencatat perubahan dalam harga transaksi sebagai hasil dari modifikasi kontrak. Perubahan dalam harga transaksi yang terjadi setelah modifikasi kontrak, entitas mengalokasikan perubahan dalam harga transaksi dengan salah satu cara berikut yang dapat diterapkan: Entitas mengalokasikan perubahan dalam harga transaksi sebelum modifikasi jika, dan sejauh perubahan dalam harga transaksi dapat diatribusikan terhadap jumlah imbalan variabel yang dijanjikan sebelum modifikasi dan modifikasi dicatat sbg penghentian kontrak. Modifikasi dicatat sebagai kontrak terpisah  entitas mengalokasikan perubahan dalam harga transaksi terhadap kewajiban pelaksanaan dalam kontrak modifikasian 32

Biaya Kontrak Biaya inkremental atas Perolehan Kontrak
Biaya Pemenuhan Kontrak Amortisasi dan Penurunan Nilai 33

Biaya inkremental atas Perolehan Kontrak
Biaya inkremental atas perolehan kontrak adalah biaya yang terjadi untuk memperoleh kontrak dengan pelanggan yang tidak akan terjadi jika kontrak belum diperoleh (sebagai contoh, komisi penjualan). Biaya untuk memperoleh kontrak yang terjadi tanpa memperhatikan apakah kontrak yang diperoleh diakui sebagai beban ketika terjadi, kecuali biaya tersebut secara eksplisit dapat dibebankan ke pelanggan tanpa memperhatikan apakah kontrak diperoleh. Entitas mengakui biaya inkremental atas perolehan kontrak dengan pelanggan sebagai aset jika entitas memperkirakan untuk memulihkan biaya tersebut. 34

Biaya Pemenuhan Kontrak
biaya berkaitan secara langsung dengan kontrak atau untuk kontrak yang diantisipasi dapat diidentifikasi secara spesifik oleh entitas (sebagai contoh, biaya yang berkaitan dengan jasa yang disediakan dalam pembaruan kontrak yang ada atau biaya merancang (costs of designing) aset untuk dialihkan dalam kontrak spesifik yang belum disetujui); biaya menghasilkan atau meningkatkan sumber daya entitas yang akan digunakan dalam penyelesaian (atau dalam melanjutkan penyelesaian) kewajiban pelaksanaan di masa depan; dan biaya diharapkan akan dipulihkan. Jika biaya yang terjadi dalam memenuhi kontrak dengan pelanggan tidak berada dalam ruang lingkup Pernyataan lain, entitas mengakui sebagai aset atas biaya yang terjadi untuk memenuhi kontrak hanya jika biaya tersebut memenuhi seluruh kriteria berikut: 35

Amortisasi Penurunan Nilai
Aset dapat berkaitan dengan barang atau jasa yang dialihkan dalam kontrak yang diantisipasi spesifik. Entitas memperbarui amortisasi untuk mencerminkan perubahan signifikan Aset yang diakui diamortisasi dengan dasar sistematik yang konsisten dengan pengalihan kepada pelanggan atas barang atau jasa yang berkaitan dengan aset. jumlah sisa dari imbalan yang diharapkan entitas untuk diterima dalam pertukaran barang atau jasa yang berkaitan dengan aset; dikurangi biaya yang berkaitan langsung dengan penyediaan barang atau jasa dan yang belum diakui sebagai beban Entitas mengakui rugi penurunan nilai dalam laba rugi jika jumlah tercatat aset yang diakui melebihi: 36

Penyajian Ketika salah satu pihak dalam kontrak telah melaksanakan, entitas menyajikan kontrak dalam laporan posisi keuangan sebagai aset kontrak atau liabilitas kontrak, bergantung pada hubungan antara kinerja entitas dan pembayaran pelanggan. Entitas menyajikan hak tanpa syarat terhadap imbalan secara terpisah sebagai piutang. 37

Pengungkapan Tujuan persyaratan pengungkapan adalah agar entitas mengungkapkan informasi yang cukup yang memungkinkan pengguna laporan keuangan memahami sifat, jumlah, waktu dan ketidakpastian pendapatan dan arus kas yang timbul dari kontrak dengan pelanggan. Untuk mencapai tujuan tersebut, entitas mengungkapkan informasi kualitatif dan kuantitatif tentang seluruh hal berikut: kontrak dengan pelanggan; pertimbangan signifikan dan perubahan dalam pertimbangan, yang dibuat dalam menerapkan Pernyataan ini terhadap kontrak tersebut dan; aset yang diakui dari biaya untuk memperoleh atau memenuhi kontrak dengan pelanggan. 38

Pengungkapan Kontrak dengan Pelanggan
Pemisahan Pendapatan Saldo Kontrak Kewajiban Pelaksanaan Harga Transaksi yang Dialokasikan terhadap Sisa Kewajiban Pelaksanaan Pertimbangan Signifikan dalam Penerapan Pernyataan Ini Menentukan Waktu Penyelesaian Kewajiban Pelaksanaan Menentukan harga transaksi dan jumlah yang dialokasikan untuk kewajiban pelaksanaan Aset yang Diakui dari Biaya untuk Memperoleh atau Memenuhi Kontrak dengan Pelanggan 39

Tanggal Efektif Entitas menerapkan Pernyataan ini untuk periode tahun buku yang dimulai pada atau setelah 1 Januari Penerapan dini diperkenankan. Jika entitas menerapkan Pernyataan ini lebih dini, maka entitas mengungkapkan fakta tersebut. 40

Ketentuan Transisi (Paragraf C02-C08)
Entitas menerapkan Pernyataan ini menggunakan satu dari dua metode berikut: secara retrospektif untuk setiap periode pelaporan sajian sebelumnya sesuai dengan PSAK 25: Kebijakan Akuntansi, Perubahan Estimasi Akuntansi, dan Kesalahan tunduk pada panduan (expedients) dalam paragraf C05; atau secara retrospektif dengan dampak kumulatif atas penerapan secara awal Pernyataan ini diakui pada tanggal penerapan awal sesuai dengan paragraf C07-C08. 41

Pedoman Penerapan Pemisahaan Pendapatan
kewajiban pelaksanaan diselesaikan sepanjang waktu (paragraph PP2-PP13); metode untuk mengukur kemajuan terhadap penyelesaian kewajiban pelaksanaan secara penuh (paragraf PP14-PP19); penjualan dengan hak retur (paragraf PP20-PP27); garansi (paragraf PP28-PP33); imbalan prinsipal dibandingkan dengan agen (paragraf PP34-PP38); opsi pelanggan untuk tambahan barang atau jasa (paragraph PP39- PP43); hak pelanggan yang tidak dilaksanakan (paragraf PP44-PP47); 42

Pedoman Penerapan biaya dibayar di muka yang tidak dapat dikembalikan (dan beberapa biaya terkait) (paragraf PP48-PP51); lisensi (paragraf PP52-PP63B); perjanjian pembelian kembali (paragraf PP64-PP76) pengaturan konsinyasi (paragraf PP77-PP78); pengaturan bill-and-hold (paragraf PP79-PP82); penerimaan pelanggan (paragraf PP83-PP86); dan pengungkapan pemisahan pendapatan (paragraf PP87-PP89). 43

Contoh MENGIDENTIFIKASI KONTRAK CI02 Contoh 1 – Kolektabilitas Imbalan
Contoh 2 – Imbalan Bukan Berdasarkan Harga Tertulis – Konsesi Harga Implisit Contoh 3 – Konsesi Harga Implisit Contoh 4 – Penilaian Kembali Kriteria untuk Mengidentifikasi Kontrak MODIFIKASI KONTRAK CI18 Contoh 5 – Modifikasi Kontrak untuk Barang Contoh 6 – Perubahan Harga Transaksi Setelah Modifikasi Kontrak Contoh 7 – Modifikasi Kontrak Jasa Contoh 8 – Modifikasi yang Menghasilkan Penyesuaian Catch Up Kumulatif Terhadap Pendapatan Contoh 9 – Perubahan dalam Ruang Lingkup dan Harga yang Tidak Disetujui 44

Contoh 45 MENGIDENTIFIKASI KEWAJIBAN PELAKSANAAN CI44
Contoh 10 – Barang dan Jasa Tidak Bersifat Dapat Dibedakan Contoh 11 – Menentukan Apakah Barang atau Jasa Bersifat Dapat Dibedakan Contoh 12 – Janji Eksplisit dan Implisit dalam Kontrak KEWAJIBAN PELAKSANAAN YANG DISELESAIKAN SEPANJANG WAKTU CI66 Contoh 13 – Pelanggan Menerima dan Mengonsumsi Manfaat Secara Simultan Contoh 14 – Menilai Penggunaan Alternatif dan Hak atas Pembayaran Contoh 15 – Aset yang Tidak Memiliki Penggunaan Alternatif Bagi Entitas Contoh 16 – Hak yang Dapat Dipaksakan atas Pembayaran Pelaksanaan yang Diselesaikan Sampai Saat Ini Contoh 17 – Penilaian Apakah Kewajiban Pelaksanaan Diselesaikan Pada Waktu Tertentu atau Sepanjang Waktu 45

Contoh MENGUKUR KEMAJUAN TERHADAP PENYELESAIAN KEWAJIBAN PELAKSANAAN SECARA PENUH CI91 Contoh 18 – Mengukur Kemajuan Ketika Membuat Barang atau Jasa Tersedia Contoh 19 – Bahan Baku Belum Terpakai IMBALAN VARIABEL CI101 Contoh 20 – Denda Menyebabkan Kenaikan Imbalan Variabel Contoh 21 – Mengestimasi Imbalan Variabel MEMBATASI ESTIMASI IMBALAN VARIABEL CI109 Contoh 22 – Hak Pengembalian Contoh 23 – Konsesi Harga Contoh 24 – Insentif Diskon Berdasarkan Volume Contoh 25 – Fees Manajemen yang Bergantung pada Pembatasan 46

Contoh KEBERADAAN KOMPONEN KEUANGAN SIGNIFIKAN DI DALAM KONTRAK CI134
Contoh 26 – Komponen Keuangan Signifikan dan Hak Pengembalian Contoh 27 – Pembayaran Ditahan Dalam Kontrak Jangka Panjang Contoh 28 – Menentukan Tingkat Diskonto Contoh 29 – Pembayaran di Muka dan Penilaian Tingkat Diskonto Contoh 30 – Pembayaran di Muka IMBALAN NONKAS CI155 Contoh 31 – Pemberian Hak atas Imbalan Nonkas UTANG IMBALAN KEPADA PELANGGAN CI159 Contoh 32 – Utang Imbalan Kepada Pelanggan 47

Contoh MENGALOKASIKAN HARGA TRANSAKSI KEPADA KEWAJIBAN PELAKSANAAN CI163 Contoh 33 – Metodologi Alokasi Contoh 34 – Mengalokasikan Diskon Contoh 35 – Alokasi Imbalan Variabel BIAYA KONTRAK CI188 Contoh 36 – Biaya Inkremental dalam Memperoleh Kontrak Contoh 37 – Biaya yang Menyebabkan Kenaikan Aset PENYAJIAN CI197 Contoh 38 – Liabilitas dan Piutang Kontrak Contoh 39 – Aset Kontrak Diakui untuk Pelaksanaan Entitas Contoh 40 – Piutang Diakui atas Pelaksanaan Entitas

Contoh PENGUNGKAPAN CI209
Contoh 41 – Pemisahan Pendapatan – Pengungkapan Kuantitatif Contoh 42 – Pengungkapan Harga Transaksi yang Dialokasikan ke Sisa Kewajiban Pelaksanaan GARANSI CI222 Contoh 44 – Garansi IMBALAN PRINSIPAL DIBANDINGKAN DENGAN IMBALAN AGEN CI230 Contoh 45 – Mengatur Provisi Barang atau Jasa (Entitas merupakan Agen) Contoh 46 – Janji untuk Menyediakan Barang atau Jasa (Entitas merupakan Prinsipal) Contoh 46A - Janji untuk Menyediakan Barang atau Jasa (Prinsipal) Contoh 47 – Janji untuk Menyediakan Barang atau Jasa (Prinsipal) Contoh 48 – Mengatur Provisi Barang atau Jasa (Entitas merupakan Agen) Contoh 48A – Entitas merupakan Prinsipal dan Agen dalam Kontrak yang Sama

Contoh OPSI PELANGGAN ATAS BARANG DAN JASA TAMBAHAN CI249
Contoh 49 – Opsi yang Memberikan Pelanggan Hak Material (Voucher Diskon) Contoh 50 – Opsi yang Tidak Memberikan Pelanggan Hak yang Bersifat Material (Tambahan Barang atau Jasa) Contoh 51 – Opsi yang Memberikan Pelanggan Hak Material (Opsi Pembaharuan) Contoh 52 – Program Loyalitas Pelanggan FEES DIMUKA YANG TIDAK DAPAT DIKEMBALIKAN CI271 Contoh 53 – Fee Dimuka yang Tidak Dapat Dikembalikan 50

Contoh LISENSI CI275 Contoh 54 – Hak Menggunakan Kekayaan Intelektual
Contoh 55 – Lisensi Kekayaan Intelektual Contoh 56 – Mengidentifikasi Lisensi yang Bersifat Dapat dibedakan Contoh 57 – Hak Waralaba Contoh 58 – Akses ke Lisensi Intelektual Contoh 59 – Hak Menggunakan Kekayaan Intelektual Contoh 60 – Royalti Berbasis Penjualan untuk Lisensi Kekayaan Intelektual Contoh 61 – Akses Kekayaan Intelektual PERJANJIAN JUAL BELI KEMBALI CI314 Contoh 62 – Perjanjian Jual Beli Kembali PENGATURAN BILL-AND-HOLD CI322 Contoh 63 – Pengaturan Bill-and-Hold 51

Determining Transaction Price—Step 3
Time Value of Money When contract (sales transaction) involves a significant financing component. Interest accrued on consideration to be paid over time. Fair value determined either by measuring the consideration received or by discounting the payment using an imputed interest rate. Company reports as interest expense or interest revenue. LO 5

Time Value of Money EXTENDED PAYMENT TERMS
ILLUSTRATION 18-12 Transaction Price -Extended Payment Terms EXTENDED PAYMENT TERMS Facts: On July 1, 2015, SEK Company sold goods to Silva Company for R$900,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of R$1,416,163. The goods have a cost on SEK’s books of R$590,000. Questions: (a) How much revenue should SEK Company record on July 1, 2015? (b) How much revenue should it report related to this transaction on December 31, 2015? Entry to record SEK’s sale to Silva Company on July 1, 2015, is as follows. Notes Receivable 1,416,163 Sales Revenue 900,000 Discount on Notes Receivable 516,163 Cost of Goods Sold 590,000 Inventory 590,000 LO 5

Time Value of Money EXTENDED PAYMENT TERMS
ILLUSTRATION 18-12 Transaction Price -Extended Payment Terms EXTENDED PAYMENT TERMS Facts: On July 1, 2015, SEK Company sold goods to Silva Company for R$900,000 in exchange for a 4-year, zero-interest-bearing note with a face amount of R$1,416,163. The goods have a cost on SEK’s books of R$590,000. Questions: (a) How much revenue should SEK Company record on July 1, 2015? (b) How much revenue should it report related to this transaction on December 31, 2015? Entry to record interest revenue at the end of the year, December 31, 2015. Discount on Notes Receivable 54,000 Interest Revenue (12% x ½ x $900,000) 54,000 Companies are not required to reflect the time value of money if the time period for payment is less than a year. LO 5

Non-Cash Consideration Goods, services, or other non-cash consideration. Companies sometimes receive contributions (e.g., donations and gifts). Customers sometimes contribute goods or services, such as equipment or labor, as consideration for goods provided or services performed. Companies generally recognize revenue on the basis of the fair value of what is received. LO 5

Consideration Paid or Payable to Customers May include discounts, volume rebates, coupons, free products, or services. In general, these elements reduce the consideration received and the revenue to be recognized. LO 5

Consideration Paid or Payable
ILLUSTRATION 18-13 Transaction Price – Volume Discount VOLUME DISCOUNT Facts: Sansung Company offers its customers a 3% volume discount if they purchase at least ¥2 million of its product during the calendar year. On March 31, 2015, Sansung has made sales of ¥700,000 to Artic Co. In the previous 2 years, Sansung sold over ¥3,000,000 to Artic in the period April 1 to December 31. Questions: How much revenue should Sansung recognize for the first 3 months of 2015? Sansung makes the following entry on March 31, 2015. Accounts Receivable 679,000 Sales Revenue 679,000 Sansung should reduce its revenue by ¥21,000 (¥700,000 x 3%) because it is probable that it will provide this rebate. LO 5

Consideration Paid or Payable
ILLUSTRATION 18-13 Transaction Price – Volume Discount Questions: How much revenue should Sansung recognize for the first 3 months of 2015? Assuming Sansung’s customer meets the discount threshold, Sansung makes the following entry. Cash 679,000 Accounts Receivable 679,000 If Sansung’s customer fails to meet the discount threshold, Sansung makes the following entry upon payment. Cash 700,000 Accounts Receivable 679,000 Sales Discounts Forfeited 21,000 LO 5

Allocating Transaction Price to Separate Performance Obligations—Step 4
Based on their relative fair values. Best measure of fair value is what the company could sell the good or service for on a standalone basis. If not available, companies should use their best estimate of what the good or service might sell for as a standalone unit. LO 6

Allocating Transaction Price to Separate Performance Obligations—Step 4
ILLUSTRATION 18-14 Transaction Price Allocation LO 6

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5 Company satisfies its performance obligation when the customer obtains control of the good or service. Change in Control Indicators Company has a right to payment for asset. Company has transferred legal title to asset. Company has transferred physical possession of asset. Customer has significant risks and rewards of ownership. Customer has accepted the asset. LO 7

Performance Obligation Is Satisfied-Step 5 Recognizing revenue from a performance obligation over time Measure progress toward completion Method for measuring progress should depict transfer of control from company to customer. Most common are cost-to-cost and units-of-delivery methods. Objective of methods is to measure extent of progress in terms of costs, units, or value added. LO 7

Performance Obligation Is Satisfied-Step 5 Step in Process Identify the contract with customers. Description A contract is an agreement that creates enforceable rights or obligations. Implementation A company applies the revenue guidance to contracts with customers and must determine if new performance obligations are created by a contract modification. ILLUSTRATION 18-20 Summary of the Five-Step Revenue Recognition Process LO 7

Performance Obligation Is Satisfied-Step 5 Step in Process Identify the separate performance obligations in the contract Description A performance obligation is a promise in a contract to provide a product or service to a customer. A performance obligation exists if the customer can benefit from the good or service on its own or together with other readily available resources. Implementation A contract may be comprised of multiple performance obligations. Accounting is based on evaluation of whether the product or service is distinct within the contract. If each of the goods or services is distinct, but is interdependent and interrelated, these goods and services are combined and reported as one performance obligation. ILLUSTRATION 18-20 Summary of the Five-Step Revenue Recognition Process LO 7

Performance Obligation Is Satisfied-Step 5 Step in Process Determine the transaction price. Description Transaction price is the amount of consideration that a company expects to receive from a customer in exchange for transferring goods and services. Implementation In determining the transaction price, companies must consider the following factors: variable consideration, time value of money, Non-cash consideration, and consideration paid or payable to customer. ILLUSTRATION 18-20 Summary of the Five-Step Revenue Recognition Process LO 7

Performance Obligation Is Satisfied-Step 5 Step in Process Allocate the transaction price to the separate performance obligation. Description If more than one performance obligation exists, allocate the transaction price based on relative fair values. Implementation The best measure of fair value is what the good service could be sold for on a standalone basis (standalone selling price). Estimates of standalone selling price can be based on adjusted market assessment, expected cost-plus a margin approach, or a residual approach. ILLUSTRATION 18-20 Summary of the Five-Step Revenue Recognition Process LO 7

Performance Obligation Is Satisfied-Step 5 Step in Process Recognize revenue when each performance obligation is satisfied. Description A company satisfies its performance obligation when the customer obtains control of the good or service. Implementation Companies satisfy performance obligations either at a point in time or over a period of time. Companies recognize revenue over a period of time if the customer controls the asset as it is created or the company does not have an alternative use for the asset. ILLUSTRATION 18-20 Summary of the Five-Step Revenue Recognition Process LO 7

Right of Return Right of return is granted for product for various reasons (e.g., dissatisfaction with product). Company returning the product receives any combination of the following. Full or partial refund of any consideration paid. Credit that can be applied against amounts owed, or that will be owed, to the seller. Another product in exchange. LO 8

Right of Return RIGHT OF RETURN
ILLUSTRATION 18-21 Recognition—Right of Return RIGHT OF RETURN Facts: Venden Company sells 100 products for €100 each to Amaya Inc. for cash. Venden allows Amaya to return any unused product within 30 days and receive a full refund. The cost of each product is €60. To determine the transaction price, Venden decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the most likely amount. Using the most likely amount, Venden estimates that: Three products will be returned. The costs of recovering the products will be immaterial. The returned products are expected to be resold at a profit. Question: How should Venden record this sale? LO 8

Right of Return Question: How should Venden record this sale?
ILLUSTRATION 18-21 Recognition—Right of Return Question: How should Venden record this sale? Venden records the sale as follows with the expectation that three products will be returned: Cash 10,000 Sales Revenue [€9,700 x (€100 x 97)] 9,700 Refund Liability (€100 x 3) 300 Venden records the cost of goods sold with the following entry. Cost of Goods Sold 5,820 Estimated Inventory Returns (€60 x 3) 180 Inventory 6,000 LO 8

Right of Return Question: How should Venden record this sale?
ILLUSTRATION 18-21 Recognition—Right of Return Question: How should Venden record this sale? When a return occurs, Venden records the following entries. Refund Liability (2 x €100) 200 Accounts Payable 200 Returned Inventory (2 x €60) 120 Estimated Inventory Returns 120 Companies record the returned asset in a separate account from inventory to provide transparency. LO 8

Repurchase Agreements
Transfer control of (sell) an asset to a customer but have an obligation or right to repurchase. If obligation or right to repurchase is for an amount greater than or equal to selling price, then transaction is a financing transaction. LO 8

ILLUSTRATION 18-22 Recognition—Repurchase Agreement REPURCHASE AGREEMENT Facts: Morgan Inc., an equipment dealer, sells equipment on January 1, 2015, to Lane Company for £100,000. It agrees to repurchase this equipment on December 31, 2016, for a price of £121,000. Question: How should Morgan Inc. record this transaction? Assuming an interest rate of 10 percent is imputed from the agreement, Morgan makes the following entry to record the financing on January 1, 2015. Cash 100,000 Liability to Lane Company 100,000 LO 8

ILLUSTRATION 18-22 Recognition—Repurchase Agreement Question: How should Morgan Inc. record this transaction? Morgan Inc. records interest on December 31, 2016, as follows. Interest Expense 10,000 Liability to Lane Company (£100,000 x 10%) 10,000 Morgan Inc. records interest and retirement of its liability to Lane Company on December 31, 2016, as follows. Interest Expense 11,000 Liability to Lane Company (£110,000 x 10%) 11,000 Liability to Lane Company 121,000 Cash (£100,000 + £10,000 + £11,000) 121,000 LO 8

Bill-and-Hold Arrangements
Contract under which an entity bills a customer for a product but the entity retains physical possession of the product until a point in time in the future. Result when buyer is not yet ready to take delivery but does take title and accepts billing. LO 8

ILLUSTRATION 18-23 Recognition—Bill and Hold BILL AND HOLD Facts: Kaya Company sells ₺450,000 (cost ₺280,000) of fireplaces on March 1, 2015, to a local coffee shop, Baristo, which is planning to expand its locations around the city. Under the agreement, Baristo asks Kaya to retain these fireplaces in its warehouses until the new coffee shops that will house the fireplaces are ready. Title passes to Baristo at the time the agreement is signed. Question: When should Kaya recognize the revenue from this bill-and-hold arrangement? Kaya determines when it has satisfied its performance obligation to transfer a product by evaluating when Baristo obtains control of that product. LO 8

ILLUSTRATION 18-23 Recognition—Bill and Hold Question: When should Kaya recognize the revenue from this bill-and-hold arrangement? For Baristo to have obtained control of a product in a bill-and-hold arrangement, all of the following criteria should be met: (a) The reason for the bill-and-hold arrangement must be substantive. (b) The product must be identified separately as belonging to Baristo. (c) The product currently must be ready for physical transfer to Baristo. Kaya cannot have the ability to use the product or to direct it to another customer. In this case, it appears that the above criteria were met, and therefore revenue recognition should be permitted at the time the contract is signed. LO 8

ILLUSTRATION 18-23 Recognition—Bill and Hold Question: When should Kaya recognize the revenue from this bill-and-hold arrangement? Kaya makes the following entry to record the sale. Accounts receivable 450,000 Sales Revenue 450,000 Kaya makes an entry to record the related cost of goods sold as follows. Cost of Goods Sold 280,000 Inventory 280,000 LO 8

Principal-Agent Relationships
Agent’s performance obligation is to arrange for principal to provide goods or services to a customer. Examples: Preferred Travel Company (agent) facilitates the booking of cruise excursions by finding customers for Regency Cruise Company (principal). Priceline (USA) (agent) facilitates the sale of various services such as car rentals at Hertz (USA) (principal). Amounts collected on behalf of the principal are not revenue of the agent. Revenue for agent is amount of commission received. LO 8

Consignments Manufacturers (or wholesalers) deliver goods but retain title to the goods until they are sold. Consignor (manufacturer or wholesaler) ships merchandise to the consignee (dealer), who is to act as an agent for the consignor in selling the merchandise. Consignor makes a profit on the sale. Carries merchandise as inventory. Consignee makes a commission on the sale. LO 8

Consignments ILLUSTRATION 18-25 Recognition—Sales on Consignment LO 8

Warranties Two types of warranties to customers:
Product meets agreed-upon specifications in contract at time product is sold. Warranty is included in sales price (assurance-type warranty). Not included in sales price of product (service-type warranty). Recorded as a separate performance obligation. LO 8

Warranties WARRANTIES
ILLUSTRATION 18-26 Performance Obligations and Warranties WARRANTIES Facts: Maverick Company sold 1,000 Rollomatics during 2015 at a total price of $6,000,000, with a warranty guarantee that the product was free of any defects. The cost of Rollomatics sold is $4,000,000. The term of the assurance warranty is two years, with an estimated cost of $30,000. In addition, Maverick sold extended warranties related to 400 Rollomatics for 3 years beyond the 2-year period for $12,000. Question: What are the journal entries that Maverick Company should make in 2015 related to the sale and the related warranties? LO 8

Warranties ILLUSTRATION 18-26 Performance Obligations and Warranties Question: What are the journal entries that Maverick Company should make in 2015 related to the sale and the related warranties? To record the revenue and liabilities related to the warranties: Cash ($6,000,000 + $12,000) 6,012,000 Warranty Expense 30,000 Warranty Liability 30,000 Unearned Warranty Revenue 12,000 Sales Revenue 6,000,000 Cost of Goods Sold 4,000,000 Inventory 4,000,000 To reduce inventory and recognize cost of goods sold: LO 8

Non-Refundable Upfront Fees
Payments from customers before Delivery of a product. Performance of a service. Generally relate to initiation, activation, or setup of a good or service to be provided or performed in the future. Most cases, upfront payments are nonrefundable. Examples include: Membership fee in a health club. Activation fees for phone, Internet, or cable. LO 8

PRESENTATION AND DISCLOSURE
Contract Assets and Liabilities Contract assets are of two types: Unconditional rights to receive consideration because company has satisfied its performance obligation. Conditional rights to receive consideration because company has satisfied one performance obligation but must satisfy another performance obligation before it can bill the customer. LO 9

Presentation CONTRACT ASSET
ILLUSTRATION 18-29 Contract Asset Recognition and Presentation CONTRACT ASSET Facts: On January 1, 2015, Finn Company enters into a contract to transfer Product A and Product B to Obermine Co. for €100,000. The contract specifies that payment of Product A will not occur until Product B is also delivered. In other words, payment will not occur until both Product A and Product B are transferred to Obermine. Finn determines that standalone prices are €30,000 for Product A and €70,000 for Product B. Finn delivers Product A to Obermine on February 1, On March 1, 2015, Finn delivers Product B to Obermine. Question: What journal entries should Finn Company make in regards to this contract in 2015? LO 9

Presentation ILLUSTRATION 18-29 Contract Asset Recognition and Presentation Question: What journal entries should Finn Company make in regards to this contract in 2015? On February 1, 2015, Finn records the following entry: Contract Asset 30,000 Sales Revenue 30,000 On February 1, Finn does not record an accounts receivable because it does not have an unconditional right to receive the €100,000 unless it also transfers Product B to Obermine. When Finn transfers Product B on March 1, 2015, it makes the following entry. Accounts Receivable 100,000 Contract Asset 30,000 Sales Revenue 70,000 LO 9

Presentation CONTRACT LIABILITY
ILLUSTRATION 18-30 Contract Liability Recognition and Presentation CONTRACT LIABILITY Facts: On March 1, 2015, Henly Company enters into a contract to transfer a product to Propel Inc. on July 31, It is agreed that Propel will pay the full price of $10,000 in advance on April 1, The contract is non-cancelable. Propel, however, does not pay until April 15, 2015, and Henly delivers the product on July 31, The cost of the product is $7,500. Question: What journal entries are required in 2015? No entry is required on March 1, 2015: Neither party has performed on the contract. Neither party has an unconditional right as of March 1, 2015. LO 9

Presentation Question: What journal entries are required in 2015?
ILLUSTRATION 18-30 Contract Liability Recognition and Presentation Question: What journal entries are required in 2015? On receiving the cash on April 15, 2015, Henly records the following entry. Cash 10,000 Unearned Sales Revenue 10,000 On satisfying the performance obligation on July 31, 2015, Henly records the following entry to record the sale. Unearned Sales Revenue 10,000 Sales Revenue 10,000 In addition, Henly records cost of goods sold as follows. Cost of Good Sold 7,500 Inventory 7,500 LO 9

Presentation Costs to Fulfill a Contract
Companies divide fulfillment costs (contract acquisition costs) into two categories: Those that give rise to an asset. Those that are expensed as incurred. LO 9

Presentation Collectibility
Credit risk that a customer will be unable to pay in accordance with the contract. Whether a company will get paid is not a consideration in determining revenue recognition. Amount recognized as revenue is not adjusted for customer credit risk. LO 9

Disclosure Companies disclose qualitative and quantitative information about the following: Contracts with customers. Significant judgments. Assets recognized from costs incurred to fulfill a contract. LO 9

Disclosure Companies provide a range of disclosures:
Disaggregation of revenue. Reconciliation of contract balances. Remaining performance obligations. Cost to obtain or fulfill contracts. Other qualitative disclosures. Significant judgments and changes in them. Minimum revenue not subject to variable consideration constraint. LO 9

REVENUE RECOGNITION OVER TIME
APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS REVENUE RECOGNITION OVER TIME Under certain circumstances companies recognize revenue over time. The most notable context in which revenue may be recognized over time is long-term construction contract accounting. LO 10 Apply the percentage-of-completion method for long-term contracts.

APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS REVENUE RECOGNITION OVER TIME Long-term contracts frequently provide that seller (builder) may bill purchaser at intervals. Examples: Development of military and commercial aircraft Weapons-delivery systems Space exploration hardware LO 10

APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS REVENUE RECOGNITION OVER TIME A company recognizes revenue over time if at least one of the following two criteria is met: Company’s performance creates or enhances an asset (e.g., work in process) that the customer controls as the asset is created or enhanced; or Company’s performance does not create an asset with an alternative use. In addition… LO 10

APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS REVENUE RECOGNITION OVER TIME In addition at least one of the following criteria must be met: The customer simultaneously receives and consumes the benefits of the entity’s performance as the entity performs. Another company would not need to substantially re-perform the work the company has completed to date if that other company were to fulfill the remaining obligation to the customer. The company has a right to payment for its performance completed to date, and it expects to fulfill the contract as promised. LO 10

APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS REVENUE RECOGNITION OVER TIME If criterion 1 or 2 is met, then a company recognizes revenue over time if it can reasonably estimate its progress toward satisfaction of the performance obligations. Company recognizes revenues and gross profits each period based upon the progress of the construction— referred to as the percentage-of-completion method. If criteria are not met, the company recognizes revenues and gross profit when the contract is completed, referred to as the cost-recovery (zero-profit) method. LO 10

Percentage-of-Completion Method
APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS Percentage-of-Completion Method Measuring the Progress Toward Completion Most popular input measure used to determine the progress toward completion is the cost-to-cost basis. LO 10

Percentage-of-Completion Method
APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS Percentage-of-Completion Method Revenue to Recognized Cost-to-Cost Basis ILLUSTRATION 18A-1 ILLUSTRATION 18A-2 ILLUSTRATION 18A-3 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Illustration: Hardhat Construction Company has a contract to construct a £4,500,000 bridge at an estimated cost of £4,000,000. The contract is to start in July 2015, and the bridge is to be completed in October The following data pertain to the construction period. LO 10

PERCENTAGE-OF-COMPLETION METHOD
APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD ILLUSTRATION 18A-4 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD ILLUSTRATION 18A-5 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Illustration: Percentage-of-Completion Revenue, Costs, and Gross Profit by Year ILLUSTRATION 18A-6 LO 10

ILLUSTRATION 18A-6 APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD ILLUSTRATION 18A-7 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Illustration: Content of Construction in Process Account—Percentage-of-Completion Method ILLUSTRATION 18A-8 LO 10

Financial Statement Presentation—Percentage-of-Completion
APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Financial Statement Presentation—Percentage-of-Completion Computation of Unbilled Contract Price at 12/31/15 ILLUSTRATION 18A-9 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Financial Statement Presentation—Percentage-of-Completion Method (2015) ILLUSTRATION 18A-10 LO 10

APPENDIX 18A PERCENTAGE-OF-COMPLETION METHOD Financial Statement Presentation—Percentage-of-Completion Method (2016) ILLUSTRATION 18A-11 LO 10

Cost-Recovery (Zero-Profit) Method
APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS Cost-Recovery (Zero-Profit) Method This method recognizes revenue only to the extent of costs incurred that are expected to be recoverable. Only after all costs are incurred is gross profit recognized. LO 11 Apply the cost-recovery method for long-term contracts.

APPENDIX 18A COST-RECOVERY (ZERO-PROFIT) METHOD Illustration: Hardhat Construction would report the following revenues and costs for 2015–2017. ILLUSTRATION 18A-14 LO 11

COST-RECOVERY (ZERO-PROFIT) METHOD
APPENDIX 18A COST-RECOVERY (ZERO-PROFIT) METHOD ILLUSTRATION 18A-14 Cost-Recovery Method Revenue, Costs, and Gross Profit by Year ILLUSTRATION 18A-15 Journal Entries— Cost-Recovery Method LO 11

APPENDIX 18A COST-RECOVERY (ZERO-PROFIT) METHOD ILLUSTRATION 18A-14 Cost-Recovery Method Revenue, Costs, and Gross Profit by Year ILLUSTRATION 18A-16 Comparison of Gross Profit Recognized under Different Methods LO 11

APPENDIX 18A COST-RECOVERY (ZERO-PROFIT) METHOD ILLUSTRATION 18A-17 Financial Statement Presentation—Cost- Recovery Method LO 11

Long-Term Contract Losses
APPENDIX 18A LONG-TERM CONSTRUCTION CONTRACTS Long-Term Contract Losses Loss in Current Period on a Profitable Contract Percentage-of-completion method only, the estimated cost increase requires a current-period adjustment of gross profit recognized in prior periods. Loss on an Unprofitable Contract Under both percentage-of-completion and cost-recovery methods, the company must recognize in the current period the entire expected contract loss. LO 12 Identify the proper accounting for losses on long-term contracts.

Advance slide in presentation mode to reveal answers.
APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss in Current Period Casper Construction Co. Prepare the journal entries to record revenue and expense for 2014, 2015, and 2016 assuming the estimated cost to complete at the end of 2015 was $215,436. Advance slide in presentation mode to reveal answers. LO 12

Illustration: Loss in Current Period
APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss in Current Period LO 12

Illustration: Loss on Unprofitable Contract
APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss on Unprofitable Contract Casper Construction Co. Prepare the journal entries for 2014, 2015, and 2016 assuming the estimated cost to complete at the end of 2015 was $246,038 instead of $170,100. LO 12

APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss on Unprofitable Contract $675,000 – 683,438 = (8,438) cumulative loss LO 12

APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss on Unprofitable Contract LO 12

APPENDIX 18A LONG-TERM CONTRACT LOSSES Illustration: Loss on Unprofitable Contract For the Cost-Recovery method, companies would recognize the following loss : LO 12

Franchises Four types of franchising arrangements have evolved:
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Franchises Four types of franchising arrangements have evolved: Manufacturer-retailer Manufacturer-wholesaler Service sponsor-retailer Wholesaler-retailer LO 13 Explain revenue recognition for franchises.

Franchises Two sources of revenue:
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Franchises Two sources of revenue: Sale of initial franchises and related assets or services, and Continuing fees based on the operations of franchises. LO 13

Franchises The franchisor normally provides the franchisee with:
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Franchises The franchisor normally provides the franchisee with: Assistance in site selection Evaluation of potential income Supervision of construction activity Assistance in the acquisition of signs, fixtures, and equipment Bookkeeping and advisory services Employee and management training Quality control Advertising and promotion LO 13

FRANCHISE ACCOUNTING Performance obligations relate to:
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES FRANCHISE ACCOUNTING Performance obligations relate to: Right to open a business. Use of trade name or other intellectual property of the franchisor. Continuing services, such as marketing help, training, and in some cases supplying inventory and inventory management. LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES FRANCHISE ACCOUNTING Franchisors commonly charge an initial franchise fee and continuing franchise fees: Initial franchise fee (payment for establishing the relationship and providing some initial services). Continuing franchise fees received In return for continuing rights granted by the agreement. For providing management training, advertising and promotion, legal assistance, and other support. LO 13

REVENUE RECOGNITION FOR FRANCHISES
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Facts: Tum’s Pizza Inc. enters into a franchise agreement on November 1, 2015, giving Food Fight Corp. the right to operate as a franchisee of Tum’s Pizza for 5 years. Tum’s charges Food Fight an initial franchise fee of $50,000 for the right to operate as a franchisee. Of this amount, $20,000 is payable when Food Fight signs the agreement, and the balance is payable in five annual payments of $6,000 each on December 31. Food Fight also promises to pay ongoing royalty payments of 1% of its annual sales (payable each January 31 of the following year) and is obliged to purchase products from Tum’s at its current standalone selling prices at the time of purchase. The credit rating of Food Fight indicates that money can be borrowed at 8%. The present value of an ordinary annuity of five annual receipts of $6,000 each discounted at 8% is $23,957. The discount of $6,043 represents the interest revenue to be accrued by Tum’s over the payment period. LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Identify the performance obligations and the point in time when the performance obligations are satisfied and revenue is recognized. Rights to the trade name, market area, and proprietary know-how for 5 years are not individually distinct. Each one is not sold separately and cannot be used with other goods or services that are readily available to the franchisee. Combined rights give rise to a single performance obligation. Tum’s satisfies performance obligation at point in time when Food Fight obtains control of the rights. LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Identify the performance obligations and the point in time when the performance obligations are satisfied and revenue is recognized. Training services and equipment are distinct because similar services and equipment are sold separately. Tum’s satisfies those performance obligations when it transfers the services and equipment to Food Fight. Tum’s cannot recognize revenue for the royalty payments because it is not reasonably assured to be entitled to those royalty amounts. Tum’s recognizes revenue for the royalties when (or as) the uncertainty is resolved. LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES Consider the following for allocation of the transaction price at December 31, 2015. Training is completed in January 2016, the equipment is installed in January 2016, and Food Fight holds a grand opening on February 2, LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES On December 31, 2015, Tum’s signs the agreement and receives upfront payment and note. Cash 20,000 Notes Receivable 30,000 Discount on Notes Receivable 6,043 Unearned Franchise Revenue 20,000 Unearned Service Revenue (training) 9,957 Unearned Sales Revenue (equipment) 14,000 LO 13

APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES On February 2, 2016, franchise opens. Tum’s satisfies the performance obligations related to the franchise rights, training, and equipment. Unearned Franchise Revenue 20,000 Franchise Revenue 20,000 Unearned Service Revenue (training) 9,957 Service Revenue (training) 9,957 Unearned Sales Revenue (equipment) 14,000 Sales Revenue 14,000 Cost of Goods Sold 10,000 Inventory 10,000 LO 13

RECOGNITION OF FRANCHISE RIGHTS REVENUE OVER TIME
APPENDIX 18B REVENUE RECOGNITION FOR FRANCHISES RECOGNITION OF FRANCHISE RIGHTS REVENUE OVER TIME Depending on the economic substance of the rights, the franchisor may be providing access to the right rather than transferring control of the franchise rights. In this case, the franchise revenue is recognized over time, rather than at a point in time. LO 13

FRANCHISE REVENUE OVER TIME
APPENDIX 18B FRANCHISE REVENUE OVER TIME Facts: Tech Solvers Corp. is a franchisor and provides a range of computing services (hardware/software installation, repairs, data backup, device syncing, and network solutions) on popular Apple and PC devices. Each franchise agreement gives a franchisee the right to open a Tech Solvers store and sell Tech Solvers’ products and services in the area for 5 years. Under the contract, Tech Solvers also provides the franchisee with a number of services to support and enhance the franchise brand, including advising and consulting on the operations of the store; communicating new hardware and software developments, and service techniques; providing business and training manuals; and advertising programs and training. LO 13

APPENDIX 18B FRANCHISE REVENUE OVER TIME Facts: As an almost entirely service operation (all parts and other supplies are purchased as needed by customers), Tech Solvers provides few upfront services to franchisees. Instead, the franchisee recruits service technicians, who are given Tech Solvers’ training materials (online manuals and tutorials), which are updated for technology changes, on a monthly basis at a minimum. Tech Solvers enters into a franchise agreement on December 15, 2015, giving a franchisee the rights to operate a Tech Solvers franchise in eastern Bavaria for 5 years. Tech Solvers charges an initial franchise fee of €5,000 for the right to operate as a franchisee, payable upon signing the contract. Tech Solvers also receives ongoing royalty payments of 7% of the franchisee’s annual sales (payable each January 15 of the following year). LO 13

APPENDIX 18B FRANCHISE REVENUE OVER TIME Identify the performance obligations and the point in time when the performance obligations are satisfied and revenue is recognized. Rights to the trade name, market area, and proprietary know-how for 5 years are not individually distinct. Each one is not sold separately and cannot be used with other goods or services that are readily available to the franchisee. Licensed rights and the ongoing training materials are a single performance obligation. Tech Solvers is providing access to the rights and must continue (over time) to perform updates and services. LO 13

Tech Solvers cannot recognize revenue for the royalty payments
APPENDIX 18B FRANCHISE REVENUE OVER TIME Identify the performance obligations and the point in time when the performance obligations are satisfied and revenue is recognized. Tech Solvers cannot recognize revenue for the royalty payments Not reasonably assured to be entitled to those revenue-based royalty amounts. Payments represent variable consideration. Recognize revenue for royalties when (or as) uncertainty is resolved. LO 13

APPENDIX 18B FRANCHISE REVENUE OVER TIME Franchise agreement signed and receipt of upfront payment and note, December 15, 2015: Cash 5,000 Unearned Franchise Revenue 5,000 Franchise begins operations in January 2016 and records €85,000 of revenue for the year ended December 31, 2016. Unearned Franchise Revenue 1,000 Franchise Revenue (€5,000 ÷ 5) 1,000 Accounts Receivable 5,950 Franchise Revenue (€85,000 x 7%) 5,950 LO 13

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martani@ui.ac.id atau dwimartani@yahoo.com
TERIMA KASIH Dwi Martani atau

JENIS EPC EPC – Engineering Procurement Construction
Engineering  Design Procurement  Pengadaan barang yang akan dibangun Constructionn  Pembangunan EPC – Engineering Procurement Construction Installation  memasang peralatan EPCI – Engineering Procurement Construction Installation Commissioning – pengujian sebelum dinyatakan layak beroperai EPCIC – Engineering Procurement Construction Installation Commissioning

PSAK Digantikan PSAK 23: Pendapatan PSAK 34: Kontrak Konstruksi,
ISAK 10: Program Loyalitas Pelanggan, ISAK 21: Perjanjian Konstruksi Real Estat, ISAK 27: Pengalihan Aset dari Pelanggan, dan PSAK 44: Akuntansi Aktivitas Pengembangan Real Estate. 146

Tahapan dalam Pengakuan
Mengidentifikasi kontrak dengan pelanggan ; Mengindentifikasi kewajiban pelaksanaan; Menentukan harga transaksi; Mengalokasikan harga transaksi terhadap kewajiban pelaksanaan; Mengakui pendapatan ketika (pada saat) entitas telah menyelesaikan kewajiban pelaksanaan. 147

martani@ui.ac.id atau dwimartani@yahoo.com
TERIMA KASIH Dwi Martani atau

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