1. Accounting and the Business Environment

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ChapterACCOUNTING AND THEBUSINESS ENVIRONMENTEvelyne Julirensia, S.E., Ak.


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ACCOUNTING:THE LANGUAGE OF BUSINESS

Accountingis the information system that

measures business activity

processes the information into reports, and

communicates the results to decision makers.

A key product of accounting is a set of documents

called financial statements.


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THE ACCOUNTING SYSTEM: THEFLOW OF INFORMATION

People make

decisions

Business

transactions occur

Businesses preparereports to show the

results of theiroperations


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Individuals

Businesses

TaxingAuthorities

GovernmentRegulatoryAgencies

Investors

Creditors

Non ProfitOrganizations

DECISIONS MAKERS:THE USERS OF ACCOUNTING

INFORMATION


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Financial accounting provides information forpeople outside the company.

Management accounting focuses on informationfor internal decision makers.

FINANCIAL ACCOUNTING and

MANAGEMENT ACCOUNTING


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REGULATING ACCOUNTING

Governing Organizations Financial Accounting Standards Board (FASB)

Generally Accepted Accounting Principles (GAAP)

Ikatan Akuntan Indonesia (IAI)Pernyataan Standar Akuntansi Keuangan (PSAK)

Intern ational Financial Repo rt ing Standard s (IFRS)

star ts from 2012

Certified Public Accountants (CPA)

Certified Management Accountants (CMA)

Ethics in Accounting and Business

Standards of Professional Conduct


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TYPES OF BUSINESS ORGANIZATIONS

ProprietorshipOwned by one person

Often small retail stores or professional businesses

Owner receives any profits, suffers any losses, and ispersonally liable for the businesss debts

PartnershipOwned by two or more people

Often retail and professional organizations

Generally unlimited personal liability

Partnership agreement

CorporationGenerally many owners

Ownership divided into shares of stock

Limited liability

Stockholders

Equity

Owners

Equity

Partners

Equity


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TYPES OF BUSINESS BASED ON

ITS MAIN ACTIVITY Service Business

Merchandising Business

Manufacturing Business


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ACCOUNTING CONCEPTS ANDPRINCIPLES

1. The Entity ConceptEconomic unit needs to be evaluated separately from its owner(s)

2. The Reliability (Objectivity) ConceptReliable data are verifiable (may be confirmed by any independentobserver)

3. The Historical Cost PrincipleAcquired assets and services should be recorded at their actual cost

4. The Going-Concern ConceptAssumes that the entity will remain in operation for the

foreseeable future

5. The Stable-Monetary-Unit ConceptAssumes that the dollar (or Rupiah)s

purchasing power is stable


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1. Analyze business transactions

2. Journalize the transactions

6. Prepare an adjusted trialbalance

7. Prepare financialstatements

8. Journalize and postclosing entries

9. Prepare a post-closing trialbalance

4. Prepare a trial balance

3. Post to ledger accounts

5. Journalize and postadjusting entries

SUMMARY OF THE ACCOUNTING CYCLE


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THE ACCOUNTING EQUATION

Assets LiabilitiesOwners

Equity

= +

Measures the resourcesof the business andthe claims of those resources.


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ASSETS(HARTA)

Assetsare economic resources that are expectedto be of benefit in the future.

Example: Cash, Merchandise Inventory, Furniture,Land, etc.


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LIABILITIES(KEWAJIBAN / UTANG)

Liabilitiesare economic obligations (debts)payable to an individual or an organization

outside the business.

Example: Accounts Payable, Notes Payable, etc.


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OWNERS EQUITY(MODAL PEMILIK)

Owners Equityis the claim of a business ownerto the assets of the business.

Owners Equity = total assets - total liabilities.

(A - L = O.E.)


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INCREASES AND DECREASES INOWNERS EQUITY

Owner Equity

Owner Withdrawalsfrom the Business

Expenses

Owner Investmentsin the Business

Revenues

INCREASES DECREASES


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INCREASES IN OWNERS EQUITY

Investments

are the assets the owner puts into the business.

Revenues (Pendapatan)are increases in owners equity earned bydelivering goods or services to customers.


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DECREASES IN OWNERS EQUITY

Owner Withdrawals or Drawings

are amounts removed from the business by the owner.

Expenses (Beban)

are the cost of doing business.

Include the cost of:- Office rent - Interest on loans

- Salaries of employees - Insurance

- Advertisement - Property taxes- Utility payments - Supplies used up


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A transactionis any event that affectsthe financial position of the business

and can be recorded reliably.

Can be recorded reliably meanscan be measured in monetary unit

(in $ or Rp, etc)

BUSINESS TRANSACTIONS


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TRANSACTIONIDENTIFICATION PROCESS


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THE FINANCIAL STATEMENTS(LAPORAN KEUANGAN)

1. Income Statement (Laporan Laba/Rugi)a summary of an entitys revenues and expenses for specificperiod of time, such as a month or a year.

2. Statement of Owners Equity (Laporan Perubahan Modal)

the changes in owners equity during a specific period of time.

3. Balance Sheet (Neraca)all entitys assets, liabilities, and owners equity as of aspecific date, usually the end of a month or a year.

4. Statement of Cash Flows (Laporan Arus Kas)the cash coming in (cash receipts) and cash going out (cashpayments)

5. Notes to Financial Statement (Catatan atas Laporan Keuangan)

(Proprietorship Service Business)


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Name of Company

Income Statement

For the year ended ...Revenues:

Fees earned xxx

Operating expenses:Expenses xxx

Expenses xxx

Etc xxx +Total operating expenses (xxx)

Net income (loss) xxx



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Name of Company

Owners Equity Statement

For the year ended ...Beginning balance xxx

Add:Investment xxx

Net income* xxx +

xxx +

xxx

Less:Drawings xxx

Net loss* xxx +

(xxx)

Ending balance xxx

(Proprietorship)


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(Proprietorship)

Name of Company

Balance Sheet as at ...

Assets:

.............................. xxx

.............................. xxx

.............................. xxx.............................. xxx

.............................. xxx

___ +

Total assets xxx

Liabilities:

........................... xxx

........................... xxx

........................... xxx +Total liabilities xxx

Owners equity xxx +

Total liabilites and OE xxx


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Contoh soal

Orchard Salon adalah bisnis perseorangan yang dimiliki oleh Morita.

Berikut ini transaksi selama bulan Januari 2008:

1 Memulai bisnis dengan menginvestasikan uang kas Rp 15jt danperalatan Rp 10jt.

3 Menerima pendapatan jasa senilai Rp 10jt secara tunai.

5 Menginvestasikan modal tambahan berupa peralatan sebesar Rp

1,5jt.6 Menerima pendapatan jasa senilai Rp 2,3jt secara kredit.

10 Membeli peralatan dari Tony&Guy Supplier Rp 1,8jt secara tunai.

15 Mengambil uang kas perusahaan Rp 1jt untuk keperluan pribadi.

17 Menerima pelunasan dari debitur senilai Rp 1jt.

22 Membeli perlengkapan salon (shampo dan conditioner) senilai Rp1,5jt secara kredit.

25 Membayar gaji karyawan secara tunai Rp 2,5jt.


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Contoh soal (contd)

26 Meminjam uang dari Bank Mandiri senilai Rp 3jt sebagai

tambahan modal kerja.

27 Membayar utang kepada kreditur sebesar Rp 1,4jt.

Keterangan pada tanggal 31 Januari 2008:

Perlengkapan yang tersisa senilai Rp 400ribu.

Beban gaji stylist yang belum dibayar sebesar Rp 1,2jt.

Diminta:

1. Catat transaksi tersebut di atas dalam persamaan dasar

akuntansi.

2. Buatlah Income Statement untuk bulan yang berakhir 31

Januari 2008.

3. Buatlah Owners Equity Statement untuk bulan yang berakhir

31 Januari 2008.

4. Buatlah Balance Sheet per 31 January 2008.


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LatihanLeo mendirikan usaha konsultan keuangan bernama Leo Consultant.

Selama bulan September 2008, terjadi transaksi sebagai berikut:

1 Menginvestasikan uang tunai Rp 8.000.000 ke perusahaan.

3 Membeli perlengkapan Rp 500.000 secara tunai.

7 Membeli peralatan Rp 4.000.000 secara kredit.

12 Menerima pendapatan jasa Rp 3.000.000 secara tunai.

25 Membayar gaji pegawai Rp 800.000 secara tunai.

27 Membayar sebagian utang ke kreditur Rp 1.000.000.

28 Mengambil untuk pribadi uang tunai Rp 1.500.000.

30 Akun perlengkapan menunjukkan bahwa Rp 200.000 telah terpakai.

Diminta:

1. Catat transaksi di atas dalam persamaan dasar akuntansi.

2. Buatlah Income Statement untuk bulan yang berakhir 30 September2008.

3. Buatlah Owners Equity Statement untuk bulan yang berakhir 30

September 2008.

4. Buatlah Balance Sheet per 30 September 2008.

1. Accounting and the Business Environment

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