IFRS Perkembangan Terkini

IFRS: Perkembangan TerkiniJuly 2009

IFRS: Perkembangan Terkini 2

Agenda

Sekilas mengenai IFRS

Sekilas mengenai PSAK

Perkembangan IFRS

Pengaruh IFRS atas perkembangan PSAK— akuntansi kombinasi bisnis dan laporan keuangan konsolidasian


Latar belakang

• IFRSs berawal dari tahun 1973 dan mengalami (R)Evolusi global• IFRSs—International Financial Reporting Standards, mencakup:

- International Financial Reporting Standards (IFRS)

- International Accounting Standards (IAS)

- International Financial Reporting Interpretations Committee (IFRIC)

- Standing Interpretations Committee (SIC)

• International Accounting Standards Board (IASB)- Penyusun standar

- Berdiri tahun 2001

- Bermarkas di London

- Sebelum tahun 2001, bernama International Accounting Standards Committee (IASC) yang berdiri tahun 1973



IFRS – (R)Evolusi Global


10 Pasar Modal Global Terbesar

Amerika Serikat Peta arah menuju IFRS

Jepang Konvergensi ke IFRS – 2011

Inggris IFRS – 2005

Perancis IFRS – 2005

Kanada Konvergensi ke IFRS – 2011

Jerman IFRS – 2005

Hong Kong IFRS – 2005

Spanyol IFRS – 2005

Swiss IFRS atau US GAAP – 2005

Australia IFRS - 2005

Lebih dari 100 negara mengharuskan, mengijinkan atau sedang melakukan konvergensi ke IFRS

Countries converging to IFRSs with the goal of adoption

Countries that require or permit IFRSs

Countries with no current plan to adopt


Siapa aktor utama dalam penyusunan IFRS?


Sumber: laman IASB


Siapa aktor utama dalam penyusunan IFRS?

• Monitoring Board- Perwakilan dari IOSCO, EC, Japan FSA and U.S. SEC- Basel Committee on Banking Supervision sebagai pengamat formal

• International Accounting Standards Committee (IASC) Foundation- Memilih dan mengawasi anggota IASB, IFRIC dan SAC- Mendapatkan dana

• IASB- Terdiri dari 15 anggota yang dipilih IASC, akan menjadi 16 anggota per Juli 2012- Diversitas geografik keanggotaan akan ditingkatkan: 4, 4, 4, 1, 1, 2

• Standards Advisory Council- Perwakilan dari organisasi-organisasi yang relevan, termasuk investor groups- Lebih dari 40 anggota dari berbagai organisasi internasional

• IFRIC- Terdiri dari 14 anggota dengan hak suara yang sama plus 1 chairman tanpa hak suara



Prinsip akuntansi berlaku umum yang lebih kompak


IFRS:

• Standar

- IFRS: 8

- IAS: 29

• Interpretasi

- IFRIC: 8

- SIC: 11

• Framework

US GAAP:

• Standar:

- SFAS: 106

- APB: 16

- ARB: 4

• Interpretasi

- FSP: 49

- EITF: 108

- FIN: 27

• Concepts Statements: 6

• Lain-lain

- FTB: 32

- AICPA Interpretations: 6

- SOP: 51

- AICPA Industry Audit and Accounting Guides, SABs, DIGs…

Status per 1 Januari 2009


Prinsip vs. aturan: Perbedaan utama antara IFRS dengan US GAAP

• Baik framework IFRS maupun Concept Statements US GAAP disusun dengan metodologi yang berdasarkan prinsip

• IFRS berbeda dengan US GAAP dalam banyak hal dari sudut pengakuan, pengukuran dan pengungkapan

• US GAAP lebih preskriptif dan mencoba memberikan aturan-aturan yang spesifik untuk industri-industri dan transaksi-transaksi tertentu

• Standar: IFRS, IAS

• Interpretasi: IFRIC, SIC

• Framework

• Standars: SFAS, APB, ARB

• Interpretasi: FSP, EITF, FIN

• Concepts Statements

• Lain-lain: FTB, AICPA Interpretations: SOP, AICPA Industry Guides, SABs, DIGs, etc.

IFR

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Hirarki PABU dalam IFRS

Standar dan interpretasi IFRS

Pertimbangan manajemen

Area yang mirip dalam IFRS

Framework

PABU lain atau praktik industriUS GAAP



Hirarki PABU dalam US GAAP


Sumber: Kieso & Weygandt. 2007. Intermediate Accounting. John Wiley & Sons. Edisi ke-12, Bab1.

• Effective for FS ending after 15 Sep 2009

• Two level: authoritative and non-authoritative

• Accounting Standards Updates


PABU di Indonesia


Until 1973 Early Dutch Accounting

Dutch-based legislation and accounting requirements.

1973-1984 Early U.S. GAAP

In 1973, IAI adopts Indonesian Accounting Principles (PAIs), which are directly based on U.S. GAAP (as it existed in 1965).

1984-1994 Updated U.S. GAAP

In 1984, PAIs are significantly revised to expand their coverage and reflect developments in U.S. GAAP

1994 to date IASs/IFRSs At its September 1994 Congress, IAI endorses the use of IAS as a basis for domestic reporting.

Sumber: ADB. 2003. Accounting and Auditing Practices in Indonesia: A Diagnostic Study. Manila. Hal.97

Perkembangan IFRS


Perjalanan akseptasi IFRS secara global…

• Jul 2002 – Adopsi IAS Regulation oleh EU Commission

• Sep 2002 – Perjanjian Norwalk, IASB-FASB

• Apr 2005 – A Possible Roadmap, pernyataan oleh staf SEC

• Des 2007 – Eliminasi aturan SEC mengenai keharusan rekonsiliasi bagi FPI

• Nov 2008 – Proposal roadmap dari SEC: IFRS bagi US registrants

• Apr 2009 – Periode tanggapan atas proposal roadmap berakhir dengan proposal akhir berupa:

- Boleh (terbatas) pakai IFRS mulai tahun buku yang berakhir setelah 15 Des 2009

- Keputusan apakah perlu penetapan tanggal konversi yang bersifat mandatory akan diambil tahun 2011

- Potensi adopsi mandatory mulai tahun 2014

Shortcut to VTS_03_1.VOB.lnk

Perkembangan IFRS

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Kerjasama IASB dengan FASB

• Sep 2002 – Perjanjian Norwalk

- Komitmen terhadap pengembangan standar berkualitas tinggi dan kompatibel

- Koordinasi program kerja menuju konvergensi

• Apr dan Okt 2005 – Reafirmasi komitmen atas konvergensi

• Feb 2006 – MOU: “A Roadmap for Convergence between IFRS and US GAAP–2006-2008”

• Sep 2008 – Laporan mengenai perkembangan proyek-proyek yang ditetapkan dalam MOU tahun 2006

Perkembangan IFRS


Topic Est. Timing

Business combinations Completed

Financial instruments To be determined

Financial statement presentation 2011

Intangible assets Not part of the active agenda

Leases 2011

Liabilities and equity distinctions 2011

Revenue recognition 2011

Consolidations 2009-2010

Derecognition 2009-2010

Fair value measurement FASB: 2006; IASB: 2011

Post-employment benefits IASB: 2011

Sumber: MoU progress report - www.fasb.org

Rangkuman status Joint Projects—MOU-2006 per Sep 2008

Perkembangan IFRS

Pengaruh IFRS atas perkembangan PSAK


Roadmap

• Pendekatan bertahap, termasuk pencabutan PSAK yang tidak/kurang relevan lagi

• Masa persiapan – sosialisasi, pelatihan, penyiapan infrastruktur yang diperlukan

• Implementasi – seluruh PSAK ‘baru’ sudah mulai efektif

• Pendekatan selanjutnya – peran serta aktif dalam periode diskusi?



Rencana adopsi 2009



Rencana adopsi 2010



Akuntansi kombinasi bisnis dan laporan keuangan konsolidasian

• Joint effort dari IASB dan FASB – dua fase

• Fase pertama:

- Hasil paling utama: mengharuskan penggunaan metode akuisisi

- FASB mengeluarkan FASB Statement 141 (2001)

- IASB mengeluarkan IFRS 3 (2004)

• Fase kedua:

- Menghasilkan pedoman penerapan metode akuisisi

- FASB mengeluarkan FASB Statement 141 (2007) dan 160 (2007)

- IASB mengeluarkan IFRS 3 (2008) dan IAS 27 (2008)



Akuntansi kombinasi bisnis dan laporan keuangan konsolidasian–garis besar

• PSAK 22 (1994) IAS 22 (1993)

• PSAK 4 (1994) IAS 27 (1989)

• IAS 22 – 1983, 1993, 1998; IFRS 3 – 2004, 2008

• IAS 27 – 1989, 2003, 2008


15 tahun!

19 tahun!



Topic IAS 22 (1993) IAS 22 (1998) IFRS 3 (2004) IFRS 3 (2008)

Definition of “business”

Not specifically addressed

Same with the immediate left-side box (“~”)

An integrated set of activities and assets conducted and managed for the purpose of providing a return…to investors or other owners, members, or participants

An integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return…to investors or other owners, members, or participants

Accounting method

Purchase method and Pooling-of-Interests method

~ Purchase method ~

Transaction costs

Capitalized Capitalized Capitalized Expensed

FV of identifiable assets and liabilities

Determined considering their intended use by the acquirer

Reference to acquirer’s intended use deleted

~ ~

Liabilities for terminating or reducing activities of acquiree

Recognized for those arising as a result of acquisition.

Recognized even for those arising from acquirer’s intention if announced and formalized within specified period

Recognized only when the acquiree has an existing liability, at the acquisition date, for restructuring

~



Akuntansi kombinasi bisnis dan laporan keuangan konsolidasianPengaruh IFRS atas perkembangan PSAK


Contingent liabilities

Subsumed within the amount recognized as goodwill or negative goodwill

~ Recognized for present obligations for which their fair values can be measured reliably

~

Intangible assets

Generally recognized if, and only if, incoming future benefits are probable and can be reliably measured.

Basically ~; however, if there is no active market, FV is limited to an amount that does not create or increase negative goodwill

Probability recognition criterion is not included because it is always considered to be satisfied for intangible assets acquired in business combinations

Basically ~; however, the reliably measurable recognition criteria is not explicitly stated anymore

Identifiable net assets and minority interest (non-controlling interest)

Measured initially using either a benchmark (PSAK 22) (NCI at BV) and an allowed alternative treatment (NCI at FV)

~ Measured initially at their fair values at the acquisition date, consistent with the allowed alternative treatment under IAS 22

Choices between ~ and an approach whereby NCI amount also included its share in goodwill

Goodwill Amortized over a 5 year (rebuttable presumption) with 20 years as ceiling

Amortized over its useful life with a rebuttable presumption of not exceeding 20 years

Measured after initial recognition at cost less any accumulated impairment losses

~

Negative goodwill

Benchmark treatment (PSAK 22) and allowed alternative; generally as deferred income

Recognized to income based on certain attributions

Recognized immediately in profit or loss

~




Contingent consideration

Recognized at FV if probable and can be measured reliably

~ ~ Always recognized at FV as part of conside-ration transferred

Step acquisition Each step is treated separately in determining FV of assets/liabilities acquired and amount of goodwill

~ ~ Previously held equity interest remeasured at its acquisition-date FV and related gain/loss recognized

Losses attributable to minority interest (non-controlling interest)

Excess losses allocated to owners of parent, except in certain situation

~ ~ Attributed to non-controlling interests even when resulting in a deficit balance

Changes in parent’s ownership interest-no loss of control

Not specifically addressed

~ ~ Must be accounted for as equity transactions

Presentation of minority interest (non-controlling interest)

Mezzanine ~ ~ Equity





20

-=260

240

4040

Misalkan:

Aset bersih = 200

Nilai wajar = 300

Harga beli = 260

Kepemilikan = 80%

Investasi Konsolidasian NCI

Goodwill

FV aset bersih

BENCHMARK IAS 22 (1998)

PSAK 22 (1994)

2/10 * 200 = 40




20

-=260240

6060

Misalkan:

Aset bersih = 200

Nilai wajar = 300

Harga beli = 260

Kepemilikan = 80%


Goodwill

FV aset bersih

ALTERNATIF IAS 22 (1998)

IFRS 3 (2004)

OPTION 2 IFRS 3 (2008)

2/10 * 300 = 60




20

-=260

240

6060

Misalkan:

Aset bersih = 200

Nilai wajar = 300

Harga beli = 260

Kepemilikan = 80%


Goodwill

FV aset bersih teridentifikasi

OPTION 1 IFRS 3 (2008)

5 5

2/8 * 260 = 65 ?

Terima kasih…

IFRS Perkembangan Terkini

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