CASE STUDY-1 Interest-free Loan to Employee CASE 1-1 As part of remuneration package of Company ABC's empl equivalent salary from Company ABC with 0% interest r Assuming an employee borrowed Rp 24.000.000 on Februa the company recognize the loan receivable from an emp Formula : PV=(rate, nper, pmt, fv, type) ---- Loan Receivable = 21,243,387 CASE 1-2 PT A provides an interest free loan in the amount of Calculate the fair value amount of the loan receivabl Loan Recevaible = 75,131 Note : karena penerim nilai anuitas = nol JOURNAL ENTRIES : PT A Receivable from PT X 75,131 Expense 24,869 Cash in Bank 100,000 PT X Cash in Bank 100,000 Payable to PT X 75,131 Income 24,869
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CASE STUDY-1
Interest-free Loan to Employee
CASE 1-1As part of remuneration package of Company ABC's employees, an employee who has worked for 5 consecutive years may borrow up to 4 monthsequivalent salary from Company ABC with 0% interest rate. The loan is repayable in 24 equal monthly installments.
Assuming an employee borrowed Rp 24.000.000 on February 1, 2010 and the imputed interest on such loan at market rate is 12%, at how much shouldthe company recognize the loan receivable from an employee on February 1, 2010 ?
CASE 1-2PT A provides an interest free loan in the amount of US$100.000 to PT X. The loan is repayable in full after 3 years.Calculate the fair value amount of the loan receivable based on current market interest rate of 10%.
Loan Recevaible = 75,131 Note : karena penerimaan hanya sekali saja (tidak ada penerimaan ataupun pembayaran berkala makanilai anuitas = nol
JOURNAL ENTRIES :PT A Receivable from PT X 75,131 Expense 24,869
Cash in Bank 100,000
PT XCash in Bank 100,000
Payable to PT X 75,131 Income 24,869
As part of remuneration package of Company ABC's employees, an employee who has worked for 5 consecutive years may borrow up to 4 monthsequivalent salary from Company ABC with 0% interest rate. The loan is repayable in 24 equal monthly installments.
Assuming an employee borrowed Rp 24.000.000 on February 1, 2010 and the imputed interest on such loan at market rate is 12%, at how much shouldthe company recognize the loan receivable from an employee on February 1, 2010 ?
PT A provides an interest free loan in the amount of US$100.000 to PT X. The loan is repayable in full after 3 years.Calculate the fair value amount of the loan receivable based on current market interest rate of 10%.
Note : karena penerimaan hanya sekali saja (tidak ada penerimaan ataupun pembayaran berkala maka
CASE STUDY-2
CASE 2-1Company issued 5-year US$1.000.000 bond with net proceeds of US$1.000.000 (price at 103 and US$30.000 transaction costs).Bond pays interest at each anniversary date at 5% for the first 2 years; then 7% for the 3rd and 4th year; and 8% for the 5th year.Company may prepay at the end of 4th year at amortised cost with no significant penalty.Company expects to redeem the bond after 4 years since market interest rate is expected to decline in long term.
What is the effective interest rate (EIR) ?What will be the interest expense to be recognized in the profit & loss for each year ?
Price of Bonds @103Transaction Costs (karena merupakan kewajiban maka biaya transaksi mengurangi initial carrying amount)Net Proceeds
Cash Flows :Net Proceeds1st year interset2nd year interest3rd year interest4th year interest and principal paymentEIR formulaEIR (Effective Interest Rate)
Amortised cost at Amortization of Amortization withYear start of year Cash Flows Interest ExpenseInterest Expense Rate
CASE 2-2A debt security has a stated principal amount of $100.000, which will be repaid by the issuer at maturity in five years, and a statedcoupon interest rate of 6% per year payable annually at the end of each year until maturity (i.e $6.000 per year).Entity A purchases the debt security in the market on January 1, 20X1 for $93.400 (including transcation costs of $100), that is, at a discount of $6.600 to its principal (par) amount of $100.000.Entity A classifies the debt security as held to maturity and makes this journal entry :
Held-to-maturity Investments 93,400 Cash 93,400
Based on the cash flows of the debt security (i.e an initial outflow of $93.400, five annual interest cash inflows of $6.000, and oneprincipal cash inflow at maturity of $100.000), it can be shown that the effective interest rate (internal rate of return) of the investment
that equals the purchase price.
REQUIRED : What is the percentage of the Effective Interest Rate ? Use the Excel EIR Formula to do the calculation
Cash Flows :Net Proceeds1st year interset2nd year interest3rd year interest4th year interest and principal payment5th year interest and principal paymentEIR formulaEIR (Effective Interest Rate)
asset can be computed as indicated in this amortization schedule :
Year (A) Beginning of (B) Interest cash (C) ReportedPeriod Amortized Inflows (at 6%) and Interest Income
in the debt security is approximately _______ % This is the only discount rate that will give a present value of the future cash flows
Based on the effective interest rate of ____%, the amortized cost and reported interest income in each year over the life of the financial
(A) X _____%
20X5 98,479 (6,000) 7,521 (106,000)
(30,000) 36,600
Write down the journal entries for each year's recognition ?
Held-to-maturity Investments 93,400 Cash 93,400
Subsequent Measurement :Year-1Cash 6,000 Held To Maturity Investment 1,133 Interest income 7,133
Year-2Cash 6,000 Held To Maturity Investment 1,220 Interest income 7,220
Year-3Cash 6,000 Held To Maturity Investment 1,313 Interest income 7,313
Year-4Cash 6,000 Held To Maturity Investment 1,413 Interest income 7,413
Year-5Cash 106,000 Held To Maturity Investment 1,521 Interest income 7,521 Held to Maturity Investment 100,000.00
Company issued 5-year US$1.000.000 bond with net proceeds of US$1.000.000 (price at 103 and US$30.000 transaction costs).Bond pays interest at each anniversary date at 5% for the first 2 years; then 7% for the 3rd and 4th year; and 8% for the 5th year.
Company expects to redeem the bond after 4 years since market interest rate is expected to decline in long term.
1,030,000 (30,000)
1,000,000
(1,000,000)50,000 50,000 70,000
1,070,000 =IRR(I18:I22)
5.94234%
Amortised cost atend of year
1,000,000 1,009,423 1,019,407 1,009,983
(0)
A debt security has a stated principal amount of $100.000, which will be repaid by the issuer at maturity in five years, and a statedcoupon interest rate of 6% per year payable annually at the end of each year until maturity (i.e $6.000 per year).Entity A purchases the debt security in the market on January 1, 20X1 for $93.400 (including transcation costs of $100), that is,
Based on the cash flows of the debt security (i.e an initial outflow of $93.400, five annual interest cash inflows of $6.000, and oneprincipal cash inflow at maturity of $100.000), it can be shown that the effective interest rate (internal rate of return) of the investment
REQUIRED : What is the percentage of the Effective Interest Rate ? Use the Excel EIR Formula to do the calculation
This is the only discount rate that will give a present value of the future cash flows
, the amortized cost and reported interest income in each year over the life of the financial
1,521 100,000.00
6,600
CASE STUDY-3
On January 1, 2008 Company A invested into Company B's Series X Bonds which carry a nominal amount of 5.000.000.000. The bond will mature in January 1, 2011or a term of 3 years. The bond carries a coupon rate of 9,00% per annum that is payable on a quarterly basis. The bond's principal is payable at maturity date.The investment transaction was arranged by Broker B which charges the Company with a broker fee of 15.000.000. The investment has been classified as held tomaturity (HTM).
Initial Measurement :Transaction price 5,000,000,000 Transaction cost 15,000,000 Carrying value at initial measurement 5,015,000,000
EIR Calculation :
Date Cash Flow
Jan 1,2008 Investment (5,015,000,000)April 1, 2008 Interest Income 112,500,000 Jul 1, 2008 Interest Income 112,500,000 Oct 1, 2008 Interest Income 112,500,000 Jan 1, 2009 Interest Income 112,500,000 April 1, 2009 Interest Income 112,500,000 Jul 1, 2009 Interest Income 112,500,000 Oct 1, 2009 Interest Income 112,500,000 Jan 1, 2010 Interest Income 112,500,000 Apr 1, 2010 Interest Income 112,500,000 Jul 1, 2010 Interest Income 112,500,000 Oct 1,2010 Interest Income 112,500,000 Jan 1,2011 Principal + Interest 5,112,500,000
EIR per quarter 2.22%EIR per year 8.88%
AMORTIZATION COST CALCULATION :
9% Interest AmortizationDate Notional Collection Interest Income
Investment in Bonds 5,015,000,000 Cash 5,015,000,000
1 April 2008Cash 112,500,000 Interest Income 111,395,450 Investment in Bonds 1,104,550
1 Jan 2011Cash 5,112,500,000 Interest Income 111,093,505 Investment in Bonds 5,001,406,495
From the details above, if the investment has been classified as available for sale because of Company A's intention to sell the investment when they experience liquidity issue.Several additional transactions data obtained as follows :On April 1, 2008, series X bond's were being traded in the market with a bid price of 107,1%. As of December 31, 2008, series x bond's were being traded in the marketwith a bid price of 105,2%. As of December 31, 2009, the same bond is being traded on the market with a bid price of 102,75%.
Required : Calculate the Bond's Fair Value and Fair Value Adjustment
JOURNAL ENTRIES1 April 2008Investment in Bonds (AFS) 341,104,550 Fair Value Gain/Loss (Equity)
31 December 2008Fair Value Gain/Loss (Equity) 91,536,949 Investment in Bonds (AFS)
31 December 2009Fair Value Gain/Loss (Equity) 117,512,846 Investment in Bonds (AFS)
On January 1, 2008 Company A invested into Company B's Series X Bonds which carry a nominal amount of 5.000.000.000. The bond will mature in January 1, 2011or a term of 3 years. The bond carries a coupon rate of 9,00% per annum that is payable on a quarterly basis. The bond's principal is payable at maturity date.The investment transaction was arranged by Broker B which charges the Company with a broker fee of 15.000.000. The investment has been classified as held to
From the details above, if the investment has been classified as available for sale because of Company A's intention to sell the investment when they experience liquidity issue.
On April 1, 2008, series X bond's were being traded in the market with a bid price of 107,1%. As of December 31, 2008, series x bond's were being traded in the marketwith a bid price of 105,2%. As of December 31, 2009, the same bond is being traded on the market with a bid price of 102,75%.
Fair Value Gain Fair ValueAmortized Cost (Loss) in Equity Adjustment
Pada tanggal 1 Januari 20X5, karyawan A mengajukan pinjaman kepada perusahaan untuk pembelian mobil sebesar Rp 120.000.000.Sebagai karyawan, A berhak untuk mendapatkan pinjaman dengan tingkat bunga rendah sebesar 10% per tahun. Pinjaman tersebutakan dibayar dalam jangka waktu 3 tahun, dengan angsuran pokok dan bunga yang dibayarkan setiap triwulan. Telah disepakati bahwa pokok pinjaman akan dibaya pada angsuran 12 triwulanan yang sama sebesar Rp 10.000.000.Pada tanggal yang sama, tingkat bunga pasar untuk jenis pinjaman pembelian mobil kepada pihak ketiga adalah 13% per tahun.
Bagaimana pencatatan akuntansi atas transaksi tersebut di pembukuan perusahaan ?
PENYELESAIAN :
Periode Angsuran Pendapatan Total Arus Saldo Arus KasPokok Bunga Kontraktual Kas Kontraktual Pinjaman Terdiskonto
Piutang Karyawan 120,000,000 Biaya - Perbedaan Nilai Wajar 5,060,593
Piutang Karyawan - Perbedaan Nilai Wajar 5,060,593 Kas 120,000,000
Angsuran ke-1Kas 13,000,000 Piutang Karyawan - Perbedaan Nilai Wajar 735,531
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 3,735,531
Angsuran ke-2Kas 12,750,000 Piutang Karyawan - Perbedaan Nilai Wajar 684,435
Piutang Karyawan - Pokok 10,000,000 ` Pendapatan Bunga 3,434,435
Angsuran ke-3
Kas 12,500,000 Piutang Karyawan - Perbedaan Nilai Wajar 631,680
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 3,131,680
Angsuran ke-4Kas 12,250,000 Piutang Karyawan - Perbedaan Nilai Wajar 577,209
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 2,827,209
Angsuran ke-5Kas 12,000,000 Piutang Karyawan - Perbedaan Nilai Wajar 520,969
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 2,520,969
Angsuran ke-6Kas 11,750,000 Piutang Karyawan - Perbedaan Nilai Wajar 462,900
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 2,212,900
Angsuran ke-7Kas 11,500,000 Piutang Karyawan - Perbedaan Nilai Wajar 402,944
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 1,902,944
Angsuran ke-8Kas 11,250,000 Piutang Karyawan - Perbedaan Nilai Wajar 341,040
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 1,591,040
Angsuran ke-9Kas 11,000,000 Piutang Karyawan - Perbedaan Nilai Wajar 277,124
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 1,277,124
Angsuran ke-10Kas 10,750,000 Piutang Karyawan - Perbedaan Nilai Wajar 211,130
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 961,130
Angsuran ke-11Kas 10,500,000 Piutang Karyawan - Perbedaan Nilai Wajar 142,992
Piutang Karyawan - Pokok 10,000,000 Pendapatan Bunga 642,992
Angsuran ke-12Kas 10,250,000 Piutang Karyawan - Perbedaan Nilai Wajar 72,639
Piutang Karyawan - Pokok 10,000,000
Pendapatan Bunga 322,639
Pada tanggal 1 Januari 20X5, karyawan A mengajukan pinjaman kepada perusahaan untuk pembelian mobil sebesar Rp 120.000.000.Sebagai karyawan, A berhak untuk mendapatkan pinjaman dengan tingkat bunga rendah sebesar 10% per tahun. Pinjaman tersebutakan dibayar dalam jangka waktu 3 tahun, dengan angsuran pokok dan bunga yang dibayarkan setiap triwulan. Telah disepakati bahwa pokok pinjaman akan dibaya pada angsuran 12 triwulanan yang sama sebesar Rp 10.000.000.Pada tanggal yang sama, tingkat bunga pasar untuk jenis pinjaman pembelian mobil kepada pihak ketiga adalah 13% per tahun.
Arus Kas Pendapatan Amortisasi Saldo PinjamanBersih Bunga Efektif EIR
Pinjaman untuk Karyawan 120,000,000 120,000,000 Perbedaan Nilai Wajar (5,060,593) 114,939,407 Angsuran ke-1 (10,000,000) 104,939,407 Perbedaan Nilai Wajar 735,531 105,674,938 Angsuran ke-2 (10,000,000) 95,674,938 Perbedaan Nilai Wajar 684,435 96,359,373 Angsuran ke-3 (10,000,000) 86,359,373 Perbedaan Nilai Wajar 631,680 86,991,053 Angsuran ke-4 (10,000,000) 76,991,053 Perbedaan Nilai Wajar 577,209 77,568,262 Angsuran ke-5 (10,000,000) 67,568,262 Perbedaan Nilai Wajar 520,969 68,089,231 Angsuran ke-6 (10,000,000) 58,089,231 Perbedaan Nilai Wajar 462,900 58,552,131 Angsuran ke-7 (10,000,000) 48,552,131
Perbedaan Nilai Wajar 402,944 48,955,075 Angsuran ke-8 (10,000,000) 38,955,075 Perbedaan Nilai Wajar 341,040 39,296,115 Angsuran ke-9 (10,000,000) 29,296,115 Perbedaan Nilai Wajar 277,124 29,573,239 Angsuran ke-10 (10,000,000) 19,573,239 Perbedaan Nilai Wajar 211,130 19,784,369 Angsuran ke-11 (10,000,000) 9,784,369 Perbedaan Nilai Wajar 142,992 9,927,361 Angsuran ke-12 (10,000,000) (72,639)Perbedaan Nilai Wajar 72,639 0
125,060,593 (125,060,593)
CASE STUDY-5
Pada tanggal 25 Pebruari 2012, PT A memperoleh pinjaman dari PT XYZ (pemegang saham perusahaan) sebesar USD 1.920.000.Pinjaman yang diperoleh akan dipergunakan PT A untuk keperluan pembiayaan pembelian alat-alat berat untuk kegiatan operasional perusahaan.Pinjaman tersebut akan dilunaskan oleh PT A dalam jangka waktu 2 tahun, dengan angsuran pokok dan bunga yang dibayar secara bulanan.Suku bunga pinjaman yang dikenakan oleh PT XYZ sebesar 8% per tahun.Telah disepakati bahwa pokok pinjaman akan dibayar melalui angsuran bulanan yang sama sebesar USD 80.000.Pada tanggal yang sama, tingkat bunga pasar yang berlaku untuk pembiayaan yang sejenis adalah 11% per tahun.
Sajikan pencatatan akuntansi yang diperlukan dalam pembukuan PT XYZ.
PENYELESAIAN :
Periode Angsuran PendapatanPokok Bunga Kontraktual
Piutang PT A - Perbedaan Nilai WajarPendapatan Bunga
Angsuran ke-3KasPiutang Karyawan - Perbedaan Nilai Wajar
Piutang Karyawan - Pokok` Pendapatan Bunga
Angsuran ke-4KasPiutang Karyawan - Perbedaan Nilai Wajar
Piutang Karyawan - Pokok` Pendapatan Bunga
Angsuran ke-5KasPiutang Karyawan - Perbedaan Nilai Wajar
Piutang Karyawan - Pokok` Pendapatan Bunga
Angsuran ke-6KasPiutang Karyawan - Perbedaan Nilai Wajar
Piutang Karyawan - Pokok` Pendapatan Bunga
Angsuran ke-7KasPiutang Karyawan - Perbedaan Nilai Wajar
Piutang Karyawan - Pokok` Pendapatan Bunga
BUKU BESAR : PIUTANG PT A
KETERANGAN DEBET
Pinjaman untuk PT A 1,920,000 Perbedaan Nilai WajarAngsuran ke-1Perbedaan Nilai Wajar 735,531 Angsuran ke-2Perbedaan Nilai Wajar #REF!Angsuran ke-3Perbedaan Nilai Wajar #REF!Angsuran ke-4Perbedaan Nilai Wajar #REF!
Angsuran ke-5Perbedaan Nilai Wajar #REF!Angsuran ke-6Perbedaan Nilai Wajar #REF!Angsuran ke-7Perbedaan Nilai Wajar #REF!Angsuran ke-8Perbedaan Nilai Wajar #REF!Angsuran ke-9Perbedaan Nilai Wajar #REF!Angsuran ke-10Perbedaan Nilai Wajar #REF!Angsuran ke-11Perbedaan Nilai Wajar #REF!Angsuran ke-12Perbedaan Nilai Wajar #REF!
Pada tanggal 25 Pebruari 2012, PT A memperoleh pinjaman dari PT XYZ (pemegang saham perusahaan) sebesar USD 1.920.000.Pinjaman yang diperoleh akan dipergunakan PT A untuk keperluan pembiayaan pembelian alat-alat berat untuk kegiatan operasional perusahaan.Pinjaman tersebut akan dilunaskan oleh PT A dalam jangka waktu 2 tahun, dengan angsuran pokok dan bunga yang dibayar secara bulanan.
Telah disepakati bahwa pokok pinjaman akan dibayar melalui angsuran bulanan yang sama sebesar USD 80.000.Pada tanggal yang sama, tingkat bunga pasar yang berlaku untuk pembiayaan yang sejenis adalah 11% per tahun.
Total Arus Saldo Arus Kas Arus Kas Pendapatan AmortisasiKas Kontraktual Pinjaman Terdiskonto Bersih Bunga Efektif EIR
PT ABC mendapat fasilitas kredit dari Bank XYZ dengan rincian sebagai berikut :
Maksimum Kredit = Rp 100 MiliarJangka Waktu = 2 tahun atau 24 bulanJenis Kredit = Investasi untuk pembelian mesinBunga = 15% per tahun atau 1,25% per bulanProvisi Kredit = 0,08% atau Rp 80 jutaJadwal Angsuran Pokok Semester I 2008 = 25 Miliar Semester II 2008 = 25 Miliar Semester I 2009 = 25 Miliar Semester II 2009 = 25 Miliar
Total Dana Pinjaman yang diterima PT ABC adalah Rp 100 Miliar - Rp 80 juta = Rp 99.920.000.000
TABEL PERHITUNGAN :
Estimasi Nilai Tercatat Suku Bunga No. Periode Angsuran Arus Kas Awal Kredit Efektif (EIR) Angsuran PokokA B C D E = D X EIR F