Pelaporan dan Akuntansi Keuangan

Pelaporan dan Akuntansi Keuangan

AssetsProbable future economic benefits obtained and controlled by a particular entity as a result of past transactions or events

Cash, Receivables, and Financial Instruments

Financial InstrumentsFinancial instrument:Any contract that gives rise to both a financial asset of one entity and a financial liability or equity instrument of another entityFinancial asset and financial liabilityFinancial asset example: cash, receivablesFinancial liability example: long-term debt

CashCash: cash on hand and demand deposits with banks or other financial institutionsCash equivalents: short-term highly liquid investments that are readily convertible to known amounts of cash and which are subjects to an insignificant risk of changes in value

ReceivablesTrade receivables: amounts due from customers for goods sold or services performed in the normal course of businessNotes receivable written promissory notes

Bad Debt ExpenseProper matching if bad debt expense is recorded in the same fiscal period as the revenues to which they are relatedEstimation techniques:Percentage-of-sales methodAging method

Pledging, Assigning, and FactoringPledging: an agreement whereby accounts receivable are used as collateral for loans DisclosureAssignment: more formalized transfer of the asset to the lending institution DisclosureFactoring: outright sale of receivables to a financing institution known as factorTransfers of receivables with recourse

Anjak PiutangJenis pembiayaan dalam bentuk pembelian dan/atau pengalihan piutang atau tagihan jangka pendek suatu perusahaan yang berasal dari transaksi usaha

Anjak Piutang Tanpa RecoursePenjualan piutang atas dasar notifikasiFactor menanggung penuh risiko penagihan dan hak menerima pembayaran dari klien apabila terjadi kerugian atas piutang alihan yang tidak tertagihDiperlakukan sebagai penjualan piutang

Anjak Piutang Dengan RecourseKlien mempunyai kewajiban membayar seluruh atau sebagian dana yang diperoleh dari piutang alihan, atau membeli kembali piutang alihan, dalam hal nasabah tidak membayar piutang alihan tersebut kepada factor pada saat jatuh tempoDiakui sebagai kewajiban anjak piutang sebesar nilai piutang yang dialihkan

Inventory

InventoryInventory: items that are held for sale in the ordinary course of business; in the process of production for such sale; or in the form of materials or supplies to be consumed in the production process or in the rendering of services

Two Types of EntitiesMerchandising entity merchandise inventoryManufacturer:Raw materialsWork in processFinished goods

InventoryBasis for valuation: the lower of cost and net realizable valueCost flow assumptions:FIFOWeighted-average

Ownership of Goods4 matters that may cause confusion about proper ownershipGoods in transitConsignment salesProduct financing arrangementsSales made with the buyer having generous or unusual right of return

Goods in TransitGoods are included in the inventory of the firm financially responsible for transportation costsFOB destination: part of sellers inventory while in transitFOB shipping: part of buyers inventory while in transit

Consignment SalesGoods out on consignment are properly included in the inventory of the consignor and excluded from the inventory of consignee

Product Financing ArrangementsA transaction in which an entity sells and agrees to repurchase inventory with repurchase price equal to the original sales price plus the carrying and financing costsThe substance is a borrowing

Right to Return PurchasesThe sale is to be recorded if the future amount of the returns can be reasonably estimated

Accounting for InventoriesTwo systems:Periodic inventory systemThe inventory quantity is determined periodically by a physical countPerpetual inventory systemKeeps a running total of the quantity of inventory on hand by recording all sales and purchases as they occur

Valuation of InventoriesThe primary basis of accounting for inventories is costCost is defined as the sum of all costs of purchase, costs of conversion, and other costs incurred in bringing the inventories to their present location and condition

Methods of Inventory CostingSpecific IdentificationFirst-In, First-Out (FIFO)Weighted-Average

Methods of Inventory CostingNet realizable value:The estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the saleIf cost exceeds NRV a loss is recognized

Rumus BiayaIdentifikasi khususFIFIRata-rata tertimbangLIFOED PSAK No. 14 (Revisi 2008): LIFO dihilangkan

Property, Plant, and Equipment

DefinisiAset berwujud yang:Dimiliki untuk digunakan dalam produksi atau penyediaan barang atau jasa, untuk direntalkan kepada pihak lain, atau untuk tujuan administratif; danDiharapkan untuk digunakan selama lebih dari satu periode

Initial MeasurementAll costs required to bring an asset into working condition should be recorded as part of the cost of the assetExclude administrative costsInterest cost during construction of certain assetsDecommissioning costs is included

Cost Subsequent to Purchase or Self-ConstructionTo qualify for capitalization, costs must be associated with incremental benefitsExtend useful lifeIncrease capacityImprove quality of outputs or permits a reduction in other cost inputs

DepreciationSystematic and rational allocation of the depreciable amount of the asset over the assets expected useful lifeRequires a component approach for depreciationEach material component of a composite asset with different useful lives or different patterns of depreciation is accounted for separately

Depreciation MethodsStraight-lineAccelerated methodsDiminishing balanceSum-of-the years digitsUnits of production

Measurement Subsequent to Initial RecognitionCost model carried at its cost less any accumulated depreciation and any accumulated impairment lossesRevaluation model fair value

RevaluationFair value: the amount for which the asset could be exchanged between knowledgeable, willing parties in an arms-length transactionCould use depreciated replacement cost approachRevaluation adjustments are to be recognized in other comprehensive income If a revalued asset is subsequently found to be impaired, the impairment provision is first offset against the revaluation surplus, and only when that has been exhausted is it expensed

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RevaluationThe depreciation should be based on the new valuation over the number of remaining years of the assets useful life at the time of the latest valuation

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ImpairmentAt each financial reporting date the reporting entity should determine whether there are conditions that would indicate that impairments may have occurredImpairment is the excess of carrying value over recoverable amountRecoverable amount: net selling price and value in use (greater of these two amounts)

Accounting for ImpairmentsHistorical costRecognized as charges against current period profitRevaluationTreated as the partial reversal of a previous upward revaluationAny excess impairment should be charged to expense

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ImpairmentReversing an impairment lossThe increased carrying amount of an asset other than goodwill shall not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years.A reversal of an impairment loss for an asset other than goodwill shall be recognised immediately in profit or loss, unless the asset is carried at revalued amount

Retirements and Other DisposalBoth the asset and accumulated depreciation should be eliminatedAssets that have been identified for disposal classified as held for saleMeasured at the lower of the carrying value or fair value less cost to saleNo longer subject to systematic depreciation

Nonmonetary TransactionThe cost of an item of PPE acquired in exchange for a similar asset is to be measured at fair value

Capitalization of Borrowing CostsBorrowing costs eligible for capitalization, directly attributable to the acquisition, construction or production of a qualifying asset, are those borrowing costs that would have been avoided if the expenditure on this asset has not been madeActual borrowing costs less any investment income on the temporary investment of those borrowing

Capitalization of Borrowing CostsQualifying assets are those that normally take an extended period of time to prepare for their intended uses3 conditions must be made before the capitalization period should begin:Expenditures for the asset are being incurredBorrowing costs are being incurredActivities that are necessary to prepare the asset for its intended use are in progress

Perolehan Secara GabunganPerolehan tanah dan prasarana-sarana secara gabungan, dialokasikan kepada aset tetap tanah secara proporsional berdasarkan perbandingan nilai wajar aset tetap tanah dan aset non tanahApabila harga tanah amat handal harga tanah ditentukan lebih dahulu, lalu sisanya menjadi harga perolehan prasarana dan sarana

Tanah SumbanganDicatat berdasarkan nilai wajar lokasi setempat dan diakui sebagai Modal Berasal dari Sumbangan

Properti InvestasiProperti Investasi adalah properti (tanah atau bangunan atau bagian dari suatu bangunan atau kedua-duanya) yang dikuasai (oleh pemilik atau lessee/penyewa melalui sewa pembiayaan) untuk menghasilkan rental atau untuk kenaikan nilai atau kedua-duanya, dan tidak untuk:Digunakan dalam produksi atau penyediaan barang atau jasa untuk tujuan administratif; atauDijual dalam kegiatan usaha sehari-hari

Pengukuran Setelah Perolehan AwalModel nilai wajarSeluruh properti investasi dinilai berdasarkan nilai wajarLaba atau rugi yang timbul dari perubahan nilai wajar atas properti investasi harus diakui dalam laporan laba rugi pada periode terjadinyaModel biayaSesuai PSAK No. 16

Intangible Assets

DefinisiAset nonmoneter yang dapat diidentifikasi dan tidak mempunyai wujud fisik serta dimiliki untuk digunakan dalam menghasilkan atau menyerahkan barang atau jasa, disewakan kepada pihak lainnya, atau untuk tujuan administratif

Recognition CriteriaWhether the intangibles asset can be identified separately from other aspects of the business enterpriseWhether the use of the intangible asset is controlled by the enterprise as a result of its past actions and eventsWhether future economic benefits can be expected to flow to the enterpriseWhether the cost of the asset can be measured reliably

Measurement of the Cost of IntangiblesAcquired separately analogous to that for PPEAcquired as part of business combination fair value as at the date of acquisition

Internally Generated IntangiblesGoodwill not recognized as an intangiblesOther than goodwill research activity or development activity:Research expensed immediatelyDevelopment capitalized if meets the recognition criteria

Internally Generated Computer Software CostsSoftware-developing company the cost incurred in the development of software programs are research and development costsSoftware internally developed for in-house use may need to be expensedPurchased software:Software purchase for sale inventoryHeld for licensing or rental to others intangible assetPurchased for own use and which is integral to the hardware part of the cost of the hardware

Subsequent Incurred CostsShould be recognized as an expense when they incurred unless:It is probable that those costs will enable the asset to generate specifically attributable future economic benefits on excess of its assessed standard of performance immediately prior to the incremental expenditure; andThose costs can be measured reliably and attributed to the asset reliably

Measurement Subsequent to Initial RecognitionCost model carried at its cost less any accumulated amortisation and any accumulated impairment lossesRevaluation model only for freely tradable intangible assets

Useful LifeThe accounting for an intangible asset is based on its useful life. An intangible asset with a finite useful life is amortised and an intangible asset with an indefinite useful life is not

Useful LifeThe useful life of an intangible asset that arises from contractual or other legal rights shall not exceed the period of the contractual or other legal rights, but may be shorter depending on the period over which the entity expects to use the asset.

Periode AmortisasiUmumnya tidak akan melebihi 20 tahun

AmortisationAmortisation methods include the straight-line method, the diminishing balance method and the unit of production method. If it is not possible to identify the pattern in which the economic benefits are expected to be utilised by the entity, then the straight-line method should be used.

ImpairmentAn entity is required to test an intangible asset with an indefinite useful life for impairment

ImpairmentReversing an impairment lossThe increased carrying amount of an asset other than goodwill shall not exceed the carrying amount that would have been determined (net of amortisation or depreciation) had no impairment loss been recognised for the asset in prior years.A reversal of an impairment loss for an asset other than goodwill shall be recognised immediately in profit or loss, unless the asset is carried at revalued amount

ImpairmentAn impairment loss recognised for goodwill shall not be reversed in a subsequent period.

Web Site Development and Operating CostsRepresent an internally generated intangible assetHave been likened to development phase costs

Sewa

DefinisiSewa adalah suatu perjanjian dimana lessor memberikan hak kepada lessee untuk menggunakan suatu aset selama periode waktu yang disepakati

Klasifikasi SewaSuatu sewa diklasifikasikan sebagai sewa pembiayaan jika sewa tersebut mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan asetSuatu sewa diklasifikasikan sebagai sewa operasi jika sewa tidak mengalihkan secara substansial seluruh risiko dan manfaat yang terkait dengan kepemilikan aset

Sewa PembiayaanLessee mengakui sewa pembiayaan sebagai aset dan kewajiban sebesar nilai wajar aset sewaan atau sebesar nilai kini dari pembayaran sewa minimum, jika nilai kini lebihrendah dari nilai wajar

PenyusutanKebijakan penyusutan untuk aset sewaan harus konsisten dengan aset yang dimiliki sendiriJika terdapat kepastian yang memadai bahwa lessee akan mendapatkan hak kepemilikan pada akhir masa sewa penyusutan selama umur masa manfaat aset tersebutJika tidak terdapat kepastian yang memadai bahwa lessee akan mendapatkan hak kepemilikan pada akhir masa sewa disusutkan selama periode yang lebih pendek antara masa sewa dan umur manfaat aset sewaan