KONSEP DASAR PENYUSUNAN DAN PENYAJIAN LAPORAN KEUANGAN (KDPPLK) CONCEPTUAL FRAMEWORK FOR PREPARATION...

KONSEP DASAR PENYUSUNAN DAN PENYAJIAN LAPORAN KEUANGAN

(KDPPLK)

CONCEPTUAL FRAMEWORKFOR PREPARATION AND

PRESENTATION OF FINANCIAL REPORTING (CF)

1

2

PRAKTEKPRAKTEK

STANDARSTANDAR

TEORI TEORI

KONSEP SISTEM

KONSEP SISTEM

KONSEPIDEOLOGI

KONSEPIDEOLOGI

??

TUJUANTUJUAN

PRINSIPPRINSIP

POSTULAT/ASUMSI/DOKTRIN


TEORIEKUITAS

(Point of view)

TEORIEKUITAS

(Point of view)

SistemEkonomi

SistemEkonomi

SistemPolitik

SistemPolitik

SistemSos-Bud

SistemSos-Bud

SistemHukum

SistemHukum

3PRAKTEKPRAKTEK

STANDARSTANDAR

TUJUANTUJUAN

PRINSIPPRINSIP



TEORI EKUITAS(Point of view)

TEORI EKUITAS(Point of view)

SistemEkonomi

SistemEkonomi

SistemPolitik

SistemPolitik

SistemSos-Bud

SistemSos-Bud

SistemHukum

SistemHukum

KONSEPIDEOLOGI

KONSEPIDEOLOGI

??

4

PRAKTEKPRAKTEK

STANDARSTANDAR

TEORI TEORI

KONSEP SISTEM

KONSEP SISTEM

KONSEPIDEOLOGI

KONSEPIDEOLOGI

Sistem Akuntansi Konvensional

• Liberalisme• Individualisme• Hedonisme• Kapitalisme

• Liberalisme• Individualisme• Hedonisme• Kapitalisme

• Decision making• Continuity of activity• Periodicity• Disclosure• Matching concept

• Decision making• Continuity of activity• Periodicity• Disclosure• Matching concept

• Accountability• Decision making

• Accountability• Decision making

• Entity theory• Entity theory

5

TUJUANAKUNTANSI

TUJUANAKUNTANSI

TEORI EKUITAS(SUDUT PANDANG)

TEORI EKUITAS(SUDUT PANDANG)

KONSEP DASAR(POSTULAT, ASUMSI,

DOKTRIN)

KONSEP DASAR(POSTULAT, ASUMSI,

DOKTRIN)

PABU (GAAP)PABU (GAAP)

STANDARSTANDAR

PRAKTEK(Metode, Prosedur, Teknik, dsb.)


Stewardship vs Decision

Usefulness

•Proprietary•Entity•Investor•Residual•Fund•Commander•Enterprise

•Going concern•Economic Entity•Monetary Unit•Periodicity•Accrual•Conservatism•Etc.

6

TUJUAN

Decision UsefulnessTUJUAN

Decision Usefulness

TEORI EntityTEORI Entity•Going concern

•Economic Entity•Monetary Unit

•Periodicity•Accrual

•Going concern•Economic Entity•Monetary Unit

•Periodicity•Accrual

PABU (GAAP)PABU (GAAP)

STANDARSTANDAR



Conceptual Conceptual FrameworkFramework

First Level: Basic First Level: Basic ObjectiveObjective

Second Level: Second Level: Fundamental Fundamental

ConceptsConcepts

Third Level: Third Level: Recognition, Recognition,

Measurement, and Measurement, and Disclosure Disclosure ConceptsConcepts

NeedNeed

DevelopmentDevelopment

OverviewOverview

Qualitative Qualitative characteristicscharacteristics

Basic elementsBasic elements

Basic assumptionsBasic assumptions

Basic principlesBasic principles

ConstraintsConstraints

Summary of the Summary of the structurestructure

Conceptual Framework For Financial ReportingConceptual Framework For Financial ReportingConceptual Framework For Financial ReportingConceptual Framework For Financial Reporting

CF-Lama VS CF-Baru

Need for a Conceptual Framework

Rule-making should build on and relate to an

established body of concepts.

Enables IASB to issue more useful and consistent

pronouncements over time.

Conceptual Framework

LO 1 Describe the usefulness of a conceptual framework.LO 1 Describe the usefulness of a conceptual framework.

Conceptual FrameworkConceptual Framework establishes the concepts

that underlie financial reporting.

Development of a Conceptual Framework

IASB and FASB are working on a joint project to

develop a common conceptual framework

Framework will build on existing IASB and FASB

frameworks.

Project has identified the objective of financial

reporting (Chapter 1) and the qualitative

characteristics of decision-useful financial reporting

information.


LO 2 Describe efforts to construct a conceptual framework.LO 2 Describe efforts to construct a conceptual framework.

Three levels:

First Level = Basic objective

Second Level = Qualitative characteristics and

elements of financial statements

Third Level = Recognition, measurement, and

disclosure concepts


LO 2 Describe efforts to construct a conceptual framework.LO 2 Describe efforts to construct a conceptual framework.

Overview of the Conceptual Framework

LO 2 Describe efforts to construct LO 2 Describe efforts to construct a conceptual framework.a conceptual framework.

ASSUMPTIONSASSUMPTIONS

1.1. Economic entityEconomic entity

2.2. Going concernGoing concern

3.3. Monetary unitMonetary unit

4.4. PeriodicityPeriodicity

5.5. AccrualAccrual

PRINCIPLESPRINCIPLES

1.1. MeasurementMeasurement

2.2. Revenue recognitionRevenue recognition

3.3. Expense recognitionExpense recognition

4.4. Full disclosureFull disclosure

CONSTRAINTSCONSTRAINTS

1.1. CostCost

2.2. MaterialityMateriality

OBJECTIVEOBJECTIVEProvide information Provide information about the reportingabout the reportingentity that is usefulentity that is useful

to present and potentialto present and potentialequity investors,equity investors,

lenders, and otherlenders, and othercreditors in theircreditors in their

capacity as capitalcapacity as capitalProviders.Providers.

ELEMENTSELEMENTS

1.1. AssetsAssets2.2. LiabilitiesLiabilities3.3. EquityEquity4.4. IncomeIncome5.5. ExpensesExpenses

Illustration 2-7 Framework for Financial Reporting

First level

Second level

Third level

QUALITATIVE QUALITATIVE CHARACTERISTICSCHARACTERISTICS

1.1. Fundamental Fundamental qualitiesqualities

2.2. Enhancing Enhancing qualitiesqualities

First Level: Basic Objective

“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.”

LO 3 Understand the objectives of financial reporting.LO 3 Understand the objectives of financial reporting.

OBJECTIVEOBJECTIVE

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

LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.

Qualitative Characteristics of Accounting Information

Illustration 2-2 Hierarchy of Accounting Qualities



Fundamental Quality - Relevance

Relevance is one of the two fundamental qualities that make accounting information useful for decision-making.



Fundamental Quality – Faithful Representation

Faithful representation means that the numbers and descriptions match what really existed or happened.



Enhancing Qualities

Distinguish more-useful information from less-useful information.








5.5. AccrualAccrual







1.1. CostCost


OBJECTIVEOBJECTIVEProvide information Provide information about the reportingabout the reportingentity that is usefulentity that is useful

to present and potentialto present and potentialequity investors,equity investors,

lenders, and otherlenders, and othercreditors in theircreditors in their

capacity as capitalcapacity as capitalProviders.Providers.

ELEMENTSELEMENTS

1.1. AssetsAssets2.2. LiabilitiesLiabilities3.3. EquityEquity4.4. IncomeIncome5.5. ExpensesExpenses


First level

Second level

Third level

QUALITATIVE QUALITATIVE CHARACTERISTICSCHARACTERISTICS

1.1. Fundamental Fundamental qualitiesqualities

2.2. Enhancing Enhancing qualitiesqualities

Basic ElementsBasic ElementsBasic ElementsBasic Elements

LO 4LO 4

Second Level: Basic Elements

LO 5 Define the basic elements of financial statements.LO 5 Define the basic elements of financial statements.

Third Level: Recognition, Measurement, and Disclosure Concepts

These concepts explain how companies should recognize, measure, and report financial elements and events.






5.5. AccrualAccrual







1.1. CostCost


LO 6 Describe the basic assumptions of accounting.LO 6 Describe the basic assumptions of accounting.

Recognition, Measurement, and Disclosure Concepts


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.

LO 6 Describe the basic assumptions of accounting.LO 6 Describe the basic assumptions of accounting.

Third Level: Assumptions

Basic Assumptions

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

LO 7 Explain the application of the basic principles of accounting.LO 7 Explain the application of the basic principles of accounting.

Principles

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.



Illustration 2-3 Timing of Revenue Recognition

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.



Illustration 2-4 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



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

LO 8 Describe the impact that constraints have on LO 8 Describe the impact that constraints have on reporting accounting information.reporting accounting information.

Constraints

Summary of the Structure

The existing conceptual frameworks underlying U.S. GAAP and IFRS are very similar.

The converged framework should be a single document, unlike the two conceptual frameworks that presently exist.

Both the IASB and FASB have similar measurement principles, based on historical cost and fair value. However, U.S. GAAP has a concept statement to guide estimation of fair values when market-related data is not available (Statement of Financial Accounting Concepts No. 7, “Using Cash Flow Information and Present Value in Accounting”). The IASB is considering a proposal to provide expanded guidance on estimating fair values.

Users External Parties Owner-Manager

Debt & Share

Holders

All Stake-holders

Tujuan Decision Usefulnes

Teori

EkuitasEntity Proprietary Investor Fund dsb Enterprise

Konsep Dasar

(Asumsi)

Ec.EntityGoing Concern

PeriodicityMonetary Unit

Accrual

PABU

Standar

Praktek

KONSEP DASAR PENYUSUNAN DAN PENYAJIAN LAPORAN KEUANGAN (KDPPLK) CONCEPTUAL FRAMEWORK FOR PREPARATION...

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