AKM I Week 1_pur_ifrs
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Transcript of AKM I Week 1_pur_ifrs
Mahasiswa dapat menjelaskan dan memahami tentang:
1. Tujuan dan ruang lingkup Kerangka Konseptual Laporan Keuangan
2. Tujuan Laporan Keuangan dan Asumsi Dasar yang digunakan
3. Ciri-ciri Kualitatif Laporan Keuangan
4. Definisi dan Elemen-elemen Laporan Keuangan
5. Pengakuan Elemen-elemen Laporan Keuangan
6. Pengukuran Elemen-elemen Laporan Keuangan
7. Konsep Modal dan Pemeliharaan Modal.
Learning ObjectivesLearning Objectives
Financial Reporting Accounting and Financial Reporting Development of Accounting Standards Other Organizations important to F R International Accounting Issues A Conceptual Framework of Accounting Careers in Financial Accounting
Tujuan & Ruang Lingkup Kerangka Konseptual Laporan Keuangan
Tujuan & Ruang Lingkup Kerangka Konseptual Laporan Keuangan
Financial Reporting Accounting and Financial Reporting Development of Accounting Standards Other Organizations important to F R International Accounting Issues A Conceptual Framework of Accounting Careers in Financial Accounting
Accounting and Financial ReportingAccounting and Financial Reporting
1. Definisi akuntansi
2. Pengguna informasi akuntansi
3. Pembagian akuntansi
4. Pelaporan keuangan
Accounting and Financial ReportingAccounting and Financial Reporting
Definisi akuntansi:
“Accounting is a service activity.
Its function is to provide quantitative information, primarily financial in nature, about economic
entities that is intended to be usefull in making economic decisions-in making reaseoned
choises among alternatives courses of action”
Accounting and Financial ReportingAccounting and Financial Reporting
Akuntansi adalah : kegiatan jasa menyajikan informasi kuantitatif
bersifat keuangan dari suatu entitas ekonomi untuk pengambilan keputusan ekonomi
dalam memilih berbagai pilihan tindakan.
Accounting and Financial ReportingAccounting and Financial Reporting
All parties interested in the financial health of a company are called stakeholders.
Major Internal and External Stakeholder Groups
• Internal users, who make decisions directly affecting the internal operations of the enterprise.
• External users, who make decisions concerning their relationship to the enterprise.
Pengguna Informasi KeuanganPengguna Informasi Keuangan
9
InvestorsCommunity
Board of DirectorsManagementEmployees
Suppliers
Employees
Creditors
Customers
Analysts
Government
Pengguna Laporan KeuanganPengguna Laporan Keuangan
Internal users • Untuk membantu perencanaan dan pengendalian operasi
perusahaan.
External users• Investor
• Untuk menilai profitability dan safety inventasi
• Kreditor• Untuk menilai stability dan profitability perusahaan
Tujuan Pengguna Informasi KeuanganTujuan Pengguna Informasi Keuangan
AkuntansiManajemen
AkuntansiKeuangan
Memfokuskam diri pada Penyajian informasi ke Fihak intern perusahaan
Memfokuskam diri pada Penyajian informasi ke
Fihak ektern perusahaan
Pembagian AkuntansiPembagian Akuntansi
Internal Eksternal
Dipandu oleh GAAP/SAKDipandu oleh Nilai guna
Lebih ringkas
Wujudnya berupa :
a. Laporan Laba rugi b. Laporan Perubahan Ekuitasc. Neracad. Laporan Arus Kase. Catatan atas Laporan Keuangan
Lebih detail
Isi dan bentuk sesuai kebutuhan
Financial ReportingFinancial Reporting
13
The balance sheet reports, as of a certain point in time, the resources of a company (the assets), the company’s obligations (the liabilities), and the equity of the owners.
The income statement reports, for a specified interval, the net assets generated through business operations (revenues), the net assets consumed (the expenses), and the net income.
The statement of cash flows reports, for a specified time period, the amount of cash generated and consumed by a company through operating, financing, and investing activities.
Financial ReportingFinancial Reporting
14
Accounting estimates and judgments are outlined in the notes to financial statements.
Financial ReportingFinancial Reporting
15
Financial Statement Relationships
Balance Sheet 12/31/05
Cash $ 80,000Other 4,550,000Total $4,630,000
Liabilities $2,970,000Stock 900,000R/E 760,000Total $4,630,000
Statement of Cash Flows
Cash From Op $ 973,000Cash From Inv (1,188,000)Cash From Fin 245,000Net Increase $ 30,000Beg. Cash 80,000End. Cash $ 110,000
Statement ofRetained Earnings
R/E 12/31/04 $ 760,000Net Income 864,600Dividends (400,000)R/E 12/31/05 $1,224,600
Revenues $12,443,000Expenses 11,578,400Net Income $ 864,600
Income Statement
Cash $ 110,000Other 4,975,000Total $5,085,000
Liabilities $2,860,400Stock 1,000,000R/E 1,224,600Total $5,085,000
Balance Sheet 12/31/05
Three levels:
First Level = Basic objective
Second Level = Qualitative characteristics and elements of financial
statements
Third Level = Recognition, measurement, and disclosure concepts
Conceptual Framework
Overview of the Conceptual Framework
17
The overall objective of financial reporting is to provide information useful for decision making.
Tujuan Laporan KeuanganTujuan Laporan Keuangan
ASSUMPTIONS
1. Economic entity
2. Going concern
3. Monetary unit
4. Periodicity
5. Accrual
PRINCIPLES
1. Measurement
2. Revenue recognition
3. Expense recognition
4. Full disclosure
CONSTRAINTS
1. Cost
2. Materiality
OBJECTIVEProvide information about the reportingentity that is useful
to present and potentialequity investors,
lenders, and othercreditors in their
capacity as capitalProviders.
ELEMENTS
1. Assets2. Liabilities3. Equity4. Income5. Expenses
Illustration
Framework for Financial Reporting
First level
Second level
Third level
QUALITATIVE CHARACTERISTICS
1. Fundamental qualities
2. Enhancing qualities
“To provide financial information about the reporting entity
that is useful to present and potential equity investors,
lenders, and other creditors in making decisions in their
capacity as capital providers.”
First Level: Basic Objective
OBJECTIVE
Provided by issuing general-purpose financial statements.
Assumption is that users have reasonable knowledge of business
and financial accounting matters to understand the information.
IASB identified the Qualitative Characteristics of accounting information
that distinguish better (more useful) information from inferior (less useful)
information for decision-making purposes.
Second Level: Fundamental Concepts
Qualitative Characteristics of Accounting Information :
QUALITATIVE CHARACTERISTICS
1. Fundamental qualities
2. Enhancing qualities
Second level
Illustration Hierarchy of Accounting Qualities
Second Level: Fundamental Concepts
Fundamental Quality - Relevance
Relevance is one of the two fundamental qualities that make accounting information useful for decision-making.
Second Level: Fundamental Concepts
Fundamental Quality – Faithful Representation
Faithful representation means that the numbers and descriptions match what really existed or happened.
Second Level: Fundamental Concepts
Enhancing Qualities
Distinguish more-useful information from less-useful information.
Second Level: Fundamental Concepts
Exercise 2-4: Identify the qualitative characteristic(s) to be used given the information provided.
(a) Qualitative characteristic being employed when companies in the same industry are using the same accounting principles.
(b) Quality of information that confirms users’ earlier expectations.
(c) Imperative for providing comparisons of a company from period to period.
(d) Ignores the economic consequences of a standard or rule.
Characteristics:
Relevance
Faithful representation
Predictive value
Confirmatory value
Neutrality
Completeness
Timeliness
Verifiability
Understandability
Comparability
Qualitative Characteristics
Exercise 2-4: Identify the qualitative characteristic(s) to be used given the information provided.
(e) Requires a high degree of consensus among individuals on a given measurement.
(f) Predictive value is an ingredient of this fundamental quality of information.
(g) Qualitative characteristics that enhance both relevance and faithful representation.
Characteristics:
Relevance
Faithful representation
Predictive value
Confirmatory value
Neutrality
Completeness
Timeliness
Verifiability
Understandability
Comparability
Qualitative Characteristics
Exercise 2-4: Identify the qualitative characteristic(s) to be used given the information provided.
(h) Neutrality and completeness are ingredients of this fundamental quality of accounting information.
(i) Two fundamental qualities that make accounting information useful for decision-making purposes.
(j) Issuance of interim reports is an example of what enhancing ingredient?
Characteristics:Relevance
Faithful representation
Predictive value
Confirmatory value
Neutrality
Completeness
Timeliness
Verifiability
Understandability
Comparability
Qualitative Characteristics
OBJECTIVEProvide information about the reportingentity that is useful
to present and potentialequity investors,
lenders, and othercreditors in their
capacity as capitalProviders.
ELEMENTS
1. Assets2. Liabilities3. Equity4. Income5. Expenses
Illustration
Framework for Financial Reporting
First level
Second level
QUALITATIVE CHARACTERISTICS
1. Fundamental qualities
2. Enhancing qualities
Second Level: Basic Elements
Second Level: Basic Elements
Second Level: Basic ElementsVersi Lama: 10 Unsur
1. Aktiva• Adalah manfaat ekonomis yang mungkin terjadi di masa depan, yang
diperoleh atau dkendalikan oleh entitas sebagai hasil dari transaksi atau peristiwa di masa lalu.
2. Kewajiban• Adalah pengorbanan atas manfaat yang mungkin terjadi di masa depan,
yang timbul dari kewajiban entitas pada saat ini, untuk menyerahkan aktiva atau memberikan jasa kepada entitas lainnya di masa depan sebagai hasil dari transaksi atau peristiwa di masa lalu.
3. Ekuitas• Adalah kepemilikan atau kepentingan risidu dalam aktiva entitas, yang
masih tesisa setelah dikurangi dengan kewajibannya.
Second Level: Basic ElementsVersi Lama: 10 Unsur
4. Investasi oleh Pemilik• Adalah kenaikan ekuitas (aktiva bersih) entitas yang dihasilkan dari
penyerahan sesuatu yang bernilai oleh entitas lain untuk memperoleh atau meningkatkan bagian kepemilikannya.
5. Distribusi kpd Pemilik• Adalah penurunan ekuitas (aktiva bersih) entitas yang disebabkan oleh
penyerahan aktiva, jasa atau terjadinya kewajiban entitas kepada pemilik, yang akan menurunkan bagian kepemilikan (modal) entitas.
6. Laba Komprehensif• Adalah perubahan dalam ekuitas entitas sepanjang suatu periode
sebagai akibat dari transaksi dan peristiwa serta keadaan-keadaan lainnya yang bukan bersumber dari pemilik.
Second Level: Basic ElementsVersi Lama: 10 Unsur
7. Pendapatan• Adalah arus masuk aktiva atau pengingkatan lainnya atas aktiva
atau penyelesaian kewajiban entitas (atau kombinasi dari keduanya) dari pengiriman barang, pemberian jasa, atau aktivitas lainnya yang merupakan operasi utama atau operasi sentral perusahaan.
8. Beban• Adalah arus keluar aktiva atau penggunaan lainnya atas aktiva atau
terjadinya (munculnya) kewajiban entitas (atau kombinasi dari keduanya) yang disebabkan oleh pengiriman atau pembuatan barang, pemberian jasa, atau aktivitas lainnya yang merupakan operasi utama/ operasi sentral perusahaan.
Second Level: Basic ElementsVersi Lama: 10 Unsur
7. Keuntungan• Adalah kenaikan dalam ekuitas (aktiva bersih) entitas yang ditimbulkan
oleh transaksi peripheral (transaksi di luar operasi utama atau operasi sentral perusahaan) atau transaksi insidentil (transaksi yang keterjadiannya jarang) dan dari seluruh transaksi lainnya, serta peristiwa maupun keadaan-keadaan lainnya yang mempengaruhi entitas, tidak termasuk yang berasal dari pendapatan atau investasi oleh pemilik.
8. Kerugian• Adalah penurunan dalam ekuitas (aktiva bersih) entitas yang ditimbulkan
oleh transaksi peripheral (transaksi di luar operasi utama atau operasi sentral perusahaan) atau transaksi insidentil (transaksi yang keterjadiannya jarang) dan dari seluruh transaksi lainnya, serta peristiwa maupun keadaan-keadaan lainnya yang mempengaruhi entitas, tidak termasuk yang berasal dari beban atau distribusi kepada pemilik.
AssetsAssets
Provides the underlying framework for recording and summarizing economic events.
The Basic Accounting EquationThe Basic Accounting Equation
Resources a business owns.
Provide future services or benefits.
Cash, Inventory, Equipment, etc.
Assets
LiabilitiesLiabilities EquityEquity= +
Provides the underlying framework for recording and summarizing economic events.
The Basic Accounting EquationThe Basic Accounting Equation
Claims against assets (debts and obligations).
Creditors - party to whom money is owed.
Accounts payable, Notes payable, etc.
Liabilities
AssetsAssets LiabilitiesLiabilities= + EquityEquity
Provides the underlying framework for recording and summarizing economic events.
The Basic Accounting EquationThe Basic Accounting Equation
Ownership claim on total assets.
Referred to as residual equity.
Share capital and retained earnings.
Equity
AssetsAssets LiabilitiesLiabilities EquityEquity= +
Revenues result from business activities entered into for the purpose of earning income.
Generally results from selling merchandise, performing services, renting property, and lending money.
Illustration 1-7
The Basic Accounting EquationThe Basic Accounting Equation
Expenses are the cost of assets consumed or services used in the process of earning revenue.
Common expenses are salaries expense, rent expense, utilities expense, tax expense, etc.
Illustration 1-7
The Basic Accounting EquationThe Basic Accounting Equation
Dividends are the distribution of cash or other assets to shareholders.
Reduce retained earnings
Not an expense
The Basic Accounting EquationThe Basic Accounting Equation
Illustration 1-7
Third Level: Recognition, Measurement, and Disclosure Concepts
These concepts explain how companies should recognize, measure, and report financial elements and events.
ASSUMPTIONS
1. Economic entity
2. Going concern
3. Monetary unit
4. Periodicity
5. Accrual
PRINCIPLES
1. Measurement
2. Revenue recognition
3. Expense recognition
4. Full disclosure
CONSTRAINTS
1. Cost
2. Materiality
Recognition, Measurement, and Disclosure Concepts
Illustration Framework for Financial Reporting
Third level
Economic Entity – company keeps its activity separate from its owners and other business unit.
Going Concern - company to last long enough to fulfill objectives and commitments.
Monetary Unit - money is the common denominator.
Periodicity - company can divide its economic activities into time periods.
Accrual Basis of Accounting – transactions are recorded in the periods in which the events occur.
Third Level: Assumptions
Basic Assumptions
Third Level: Assumptions
E2-8: Identify which basic assumption of accounting is best described in each item below.
(a) The economic activities of FedEx Corporation (USA) are divided into 12-month periods for the purpose of issuing annual reports.
(b) Total S.A. (FRA) does not adjust amounts in its financial statements for the effects of inflation.
(c) Barclays (GBR) reports current and non-current classifications in its statement of financial position.
(d) The economic activities of Tokai Rubber Industries (JPN) and its subsidiaries are merged for accounting and reporting purposes.
Periodicity
Going Concern
MonetaryUnit
Economic Entity
Measurement
Cost is generally thought to be a faithful representation of the amount paid for a given item.
Fair value is “the amount for which an asset could be exchanged, a liability settled, or an equity instrument granted could be exchanged, between knowledgeable, willing parties in an arm’s length transaction.”
IASB has taken the step of giving companies the option to use fair value as the basis for measurement of financial assets and financial liabilities.
Third Level: Principles
Principles
1. Biaya Historis (Historical Cost)• Yaitu harga tukar barang dan jasa pada saat tanggal pembelian.
2. Biaya Penganti (Current Replecement Cost)• Yaitu harga yang dibayarkan saat ini untuk membeli atau menggantikan barang
atau jasa yang serupa.
3. Nilai Pasar (Current Market Value)• Yaitu harga jual aktiva yang berlaku di pasar saat ini.
4. Nilai Bersih yg Dapat Direalisasi (Net Realizable Value)• Yaitu jumlah kas yang diperkirakan akan diterima dari konversi aktiva dalam
kegiatan normal perusahaan.
5. Nilai Sekarang / yg Didiskontokan (Present/Discounted Value)• Yaitu jumlah bersih arus kas masuk atau keluar di masa yang akan datang
yang didiskontokan ke nilai sekarang dengan tingkat suku bunga tertentu.
5 Cara Pengukuran dlm Akuntansi
Revenue Recognition - revenue is to be recognized when it is probable that future economic benefits will flow to the company and reliable measurement of the amount of revenue is possible.
Third Level: Principles
Expense Recognition - outflows or “using up” of assets or incurring of liabilities (or a combination of both) during a period as a result of delivering or producing goods and/or rendering services.
Third Level: Principles
Illustration Expense Recognition
“Let the expense follow the revenues.”
Full Disclosure – providing information that is of sufficient importance to influence the judgment and decisions of an informed user.
Provided through:
Financial Statements
Notes to the Financial Statements
Supplementary information
Third Level: Principles
Third Level: Principles
BE2-9: Identify which basic principle of accounting is best described in each item below.
(a) Parmalat (ITA) reports revenue in its income statement when it is earned instead of when the cash is collected.
(b) Google (USA) recognizes depreciation expense for a machine over the 2-year period during which that machine helps the company earn revenue.
(c) KC Corp. (USA) reports information about pending lawsuits in the notes to its financial statements.
(d) Fuji Film (JPN) reports land on its balance sheet at the amount paid to acquire it, even though the estimated fair market value is greater.
Revenue Recognition
Expense Recognition
Full Disclosure
Measurement
Cost – the cost of providing the information must be weighed
against the benefits that can be derived from using it.
Materiality - an item is material if its inclusion or omission
would influence or change the judgment of a reasonable
person.
Third Level: Constraints
Constraints
E2-11: What accounting constraints are illustrated by the items below?
(a) Willis Company does not disclose any information in the notes to the financial statements unless the value of the information to users exceeds the expense of gathering it.
(b) Beckham Corporation expenses the cost of wastebaskets in the year they are acquired.
Cost
Third Level: Constraints
Materiality
Summary of the Structure
Kongress
SEC
Mengatur pelaporan bagi Perusahaan yang akan
Dan telah go publik
Profesi akuntansi
Menyusun GAAP/SAK
Committee on Accounting Procedure Accounting Principle BoardFinancial Accounting Standard Board /IAI
Pengembangan Standar AkuntansiPengembangan Standar Akuntansi
American Institute of Certified Publik Accountant
(AICPA )
1939 Mendirikan CAP
CAP menerbitkanAcc Research
Buletine
CAP bubar1959
1959 Membubarkan CAP Dan mendirikan APB
1. APB menetapkan ARB tetap berlaku2. APB menerbitkan Opini =standar
APB bubar 1972
Financial Accounting Foundation (FAF)Pada tahun 1972
MendirikanFASB
MendirikanGASB
1. Ketetapan APB tetap berlaku
2. FASB terbitkan Statement
Conceptual Framework of Accounting Standard
Daftar singkatan
CAP Committee on Accounting Procedure
APB Accounting Principle Board
FASB Financial Accounting Standard Board
ARB Accounting Research Bulletin
SFAS Statement of Financial Accounting Standard
GAAP Generally Accepted Accounting Principle
SFAC Statement of Financial Accounting Concept
Cara kerja FASB/IAI dalam menetapkan standar
Menyusun agenda
AKHIR
M ULAI
1
Menunjuk gugus tugas yg melibatkan ahli luar2
Menerbitkan Memorandum diskusi dan menyebarkan3
Menerbitkan Exposure Draft dan menyebarluaskan4
Menerima masukan-masukan dan mereview masukan5
Mengambil keputusan :6
Terbitkan standard
Revisi Exposure Draft
Tunda Pembahasan
Standard adalah hasil konsensus
FASB tak dapat memaksa
FASB menyeimbangkanKebenaran teori dan
Penerimaan oleh masy.
GAAP/Prinsip akuntansi :SFAS
APB OpinionARB-CAPPSAK dst.
dibuat oleh :
Conceptual Frame workdibuat oleh :
Kerangka Dasar Penyusunan
Laporan Keuangan
FASB
Siapa yang menyusun GAAP dan Conceptual Framework ?
APB
CAP
IAI
AICPA
Apa kegunaan Conceptual Framework of Accounting / KDPLK ?
Conceptualdiperlukan
untuk
1. Mengevaluasi dan mengembangkan GAAP
2. Memecahkan kasus yang belum diatur GAAP
59
International Accounting Standards Committee
The International Accounting Standards Committee (ISAC) was formed in 1973 to develop worldwide accounting standards.
The accounting standards produced by the International Accounting Standards Committee are referred to as International Accounting Standards or IAS.
Two Major Organizations:
International Accounting Standards Board (IASB)
Issues International Financial Reporting Standards
(IFRS).
Standards used on most foreign exchanges.
Standards used by foreign companies listing on U.S.
securities exchanges.
IFRS used in over 115 countries.
Standard-Setting OrganizationsStandard-Setting Organizations
Two Major Organizations:
Financial Accounting Standards Board (FASB)
Issues Statements of Financial Accounting
Standards (SFAS).
Required for all U.S.-based companies.
Standard-Setting OrganizationsStandard-Setting Organizations
Standard-Setting OrganizationsStandard-Setting Organizations
International Organization of Securities Commissions (IOSCO)
Does not set accounting standards.
Dedicated to ensuring that global
markets can operate in an efficient
and effective basis.
Standard-Setting OrganizationsStandard-Setting Organizations
International Accounting Standards Board (IASB)
Composed of four organizations:
International Accounting Standards
Committee Foundation (IASCF)
International Accounting Standards
Board (IASB)
Standards Advisory Council
International Financial Reporting
Interpretations Committee (IFRIC)
http://www.iasb.org
Standard-Setting OrganizationsStandard-Setting Organizations
Due ProcessDue Process
IllustrationInternational Standard-Setting Structure
Issued by the IASB:
Types of PronouncementsTypes of Pronouncements
International Financial Reporting Standards.
Framework for financial reporting.
International financial reporting interpretations.
Types of PronouncementsTypes of Pronouncements
Hierarchy of IFRS
Companies first look to:
1. International Financial Reporting Standards;
2. International Accounting Standards; and
3. Interpretations originated by the International Financial
Reporting Interpretations Committee (IFRIC) or the
former Standing Interpretations Committee (SIC).
Copyright rpurwoko@2010
The eeennnnnd.