7-1 BAB7 KAS DAN PIUTANG Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield 7-2 Tujuan Pembelajaran 1. Mengidentifikasi kas. 2. Menunjukkan cara melaporkan kas dan item terkait. 3. Mendefinisikan piutang dan mengidentifikasi jenis piutang. 4. Menjelaskan isu-isu akuntansi yang berkaitan dengan pengakuan piutang. 5. Menjelaskan isu-isu akuntansi yang berkaitan dengan penilaian piutang. 6. Menjelaskan isu-isu akuntansi terkait dengan pengakuan wesel tagih. 7. Menjelaskan isu-isu akuntansi yang berkaitan dengan penilaian wesel tagih. 7-3 8. Memahami Informasi khusus yang berkaitan dengan piutang. 9. Menjelaskan bagaimana melaporkan dan menganalisa piutang. Cash and Receivables Kas Piutang Piutang Wesel Masalah Khusus Apa itu Kas? Pengakuan Pengakuan Opsi nilai wajar Pelaporan kas Penilaian Penilaian Ringkasan pospos terkait kas Proses evaluasi kerugian Penghentian pengakuan atas piutang Penyajian dan analisis 7-4 Cash What is cash? Sebuah aset—merupakan suatu instrumen keuangan. Instrumen keuangan - Setiap kontrak yang menimbulkan aset keuangan dari satu entitas dan kewajiban keuangan atau kepentingan ekuitas entitas lain. Illustration 7-1 Types of Assets 7-5 LO 1 Identify items considered cash. Cash What is cash? ► Aset yang paling likuid, tergolong aset lancar ► Alat pembayaran. ► Dasar untuk mengukur dan sebagai laporan bagi seluruh pos lainnya. Examples: mata uang, dana yang tersedia pada deposito di bank, money order, cek bersertifikat, cek kontan, cek pribadi, bank draft dan tabungan. 7-6 LO 1 Identify items considered cash. Cash Reporting Cash Cash equivalent Investasi jangka pendek (≤ 3 bulan), investasi yang sangat likuid (a) dapat segera dikonversikan menjadi kas, dan (b) So near their maturity that they present insignificant risk of changes in interest rates. Examples: Treasury bills, commercial paper, dan reksa dana pasar uang. 7-7 LO 2 Indicate how to report cash and related items. Cash Restrictied cash When material in amount: Dipisahkan dari rekening kas Aktiva lancar dan aktiva tidak lancar Examples, dibatasi untuk: (1) perluasan pabrik, (2) masa jatuh tempo dari utang jangka panjang, dan (3) saldo kompensasi. 7-8 LO 2 Indicate how to report cash and related items. Cash Bank Overdrafts Ketika sebuah perusahaan menulis cek melebihi jumlah kas yang ada di rekening bank. Umumnya dilaporkan sebagai kewajiban lancar (utang usaha) Dikompensasikan ke rekening kas hanya ketika kas yang tersedia hadir dalam account lain di bank yang sama di mana pinjaman rekening koran (overdrafts) terjadi. 7-9 LO 2 Indicate how to report cash and related items. Cash Summary of Cash-Related Items Illustration 7-3 7-10 LO 2 Accounts Receivable Piutang adalah klaim kepada pihak lain atas uang, barang atau jasa 7-11 Perjanjian secara lisan dari pembeli/pelanggan untuk membayar barang atau jasa yang dijual Perjanjian tertulis dari pembeli/pelanggan untuk membayar sejumlah uang pada tanggal tertentu di masa depan Piutang Piutang Wesel LO 3 Define receivables and identify the different types of receivables. Accounts Receivable Piutang non-usaha 1. 2. 3. 4. 5. 6. 7-12 Uang Muka kepada petugas dan karyawan. Uang muka kepada anak perusahaan. Deposit untuk menutupi kerusakan atau kerugian potensial. Deposito sebagai jaminan kinerja atau pembayaran. Dividen dan piutang bunga. Klaim atas: a) b) c) d) e) Perusahaan asuransi. Defendants under suit. Badan pemerintah atas pengembalian pajak. Jasa angkutan atas barang yang rusak atau hilang. Kreditor atas pengembalian barang, barang yang rusak dan hilang. f) Pelanggan atas barang-barang yang dikembalikan. LO 3 Define receivables and identify the different types of receivables. Accounts Receivable Non-trade Receivables 7-13 Illustration 7-4 Receivables Statement of Financial Position Presentations LO 3 Define receivables and identify the different types of receivables. Accounts Receivable Pengakuan Piutang Trade diskon Mengurangi harga Tidak diakui dalam catatan akuntansi Pelanggan ditagih sebesar harga jual setelah dikurangi diskon 7-14 10 % Discount for new Retail Store Customers LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Pengakuan Piutang Cash Discounts (Sales Discounts) Sebagai insentif untuk segera dibayar Gross Method vs. Net Method 7-15 Payment terms are 2/10, n/30 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable E7-5: On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of £2,000 with terms of 2/10, n/60, f.o.b. shipping point. On June 12, the company received a check for the balance due from Arquette Company. Prepare the journal entries on Bolton Company books to record the sale assuming Bolton records sales using the net method. June 3 Accounts receivable 1,960 Sales June 12 Cash (£2,000 x 98%) Accounts receivable 7-16 1,960 1,960 1,960 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable E7-5: On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of £2,000 with terms of 2/10, n/60, f.o.b. shipping point. Prepare the journal entries on Bolton Company books to record the sale assuming Bolton records sales using the gross method, and Arquette did not remit payment until July 29. June 3 Accounts receivable 1,960 Sales June 12 Cash Accounts receivable Sales discounts forfeited 7-17 1,960 2,000 1,960 40 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Non-Recognition of Interest Element Sebuah perusahaan harus mengukur piutangnya dengan nilai saat ini (present value). In practice, perusahaan mengabaikan pendapatan bunga yang terkait dengan piutang karena tidak material. 7-18 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable How are these accounts presented on the Statement of Financial Position? Account Receivable 7-19 Allowance for doubtful acoounts Beg. 500 25 Beg. End. 500 25 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable ABC Corporation Statement of Financial Position (partial) Current Assets: Merchandise inventory Prepaid expense Accounts receivable Less: Allowance for doubtful accounts Cash Total current assets 7-20 $ 500 (25) 812 40 475 330 1,657 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable ABC Corporation Statement of Financial Position (partial) Current Assets: Merchandise inventory Prepaid expense Accounts receivable, net of $25 allowance Cash Total current assets 7-21 $ 812 40 475 330 1,657 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Journal entry for credit sale of $100? Accounts receivable Sales Accounts Receivable 7-22 100 100 Allowance for Doubtful Accounts Beg. 500 25 Beg. End. 500 25 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Journal entry for credit sale of $100? Accounts receivable Sales Accounts Receivable 7-23 Beg. 500 Sale 100 End. 600 100 100 Allowance for Doubtful Accounts 25 Beg. 25 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Collected of $333 on account? Cash 333 Accounts receivable Accounts Receivable 7-24 Beg. 500 Sale 100 End. 600 333 Allowance for Doubtful Accounts 25 Beg. 25 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Collected of $333 on account? Cash 333 Accounts receivable Accounts Receivable 7-25 Beg. 500 Sale 100 End. 267 333 333 Allowance for Doubtful Accounts 25 Beg. 25 End. Coll. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Adjustment of $15 for estimated Bad-Debts? Bad debt expense 15 Allowance for Doubtful Accounts Accounts Receivable 7-26 Beg. 500 Sale 100 End. 267 333 15 Allowance for Doubtful Accounts 25 Beg. 25 End. Coll. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Adjustment of $15 for estimated Bad-Debts? Bad debt expense 15 Allowance for Doubtful Accounts Accounts Receivable 7-27 Beg. 500 Sale 100 End. 267 333 Coll. 15 Allowance for Doubtful Accounts 25 Beg. 15 Est. 40 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Write-off of uncollectible accounts for $10? Allowance for Doubtful accounts Accounts receivable Accounts Receivable 7-28 Beg. 500 Sale 100 End. 267 333 Coll. 10 10 Allowance for Doubtful Accounts 25 Beg. 15 Est. 40 End. LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Write-off of uncollectible accounts for $10? Allowance for Doubtful accounts 10 Accounts receivable Accounts Receivable Beg. 500 Sale 100 End. 7-29 257 333 Coll. 10 W/O 10 Allowance for Doubtful Accounts W/O 25 Beg. 15 Est. 30 End. 10 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable ABC Corporation Statement of Financial Position (partial) Current Assets: Merchandise inventory Prepaid expense Accounts receivable, net of $30 allowance Cash Total current assets 7-30 $ 812 40 227 330 1,409 LO 4 Explain accounting issues related to recognition of accounts receivable. Accounts Receivable Penilaian Piutang Klasifikasi Net realizable value Piutang tak tertagih Penjualan kredit meningkatkan piutang tak tertagih 7-31 LO 5 Explain accounting issues related to valuation of accounts receivable. Valuation of Accounts Receivable Piutang tak tertagih Piutang tak tertagih adalah hilangnya potensi pendapatan, Penurunan aset piutang and penurunan terkait dengan pendapatan dan ekuitas. 7-32 LO 5 Explain accounting issues related to valuation of accounts receivable. Valuation of Accounts Receivable Metode Akuntansi Piutang Tak Tertagih Penghapusan Langsung Secara teoritis tidak diinginkan: Penyisihan Menggunakan estimasi: Persentase dari penjualan Tidak cocok Persentasi dari piutang Piutang tidak dinyatakan pada nilai realisasi kas Dianjurkan oleh IFRS Tidak dapat diterima untuk pelaporan keuangan 7-33 LO 5 Explain accounting issues related to valuation of accounts receivable. Uncollectible Accounts Receivable Illustration 7-7 Emphasis on the Income Statement Emphasis on the Statement of Financial Position 7-34 LO 5 Explain accounting issues related to valuation of accounts receivable. Uncollectible Accounts Receivable Pendekatan Percentage-of-Sales Persentase berdasarkan pengalaman masa lalu.. Biaya piutang tak tertagih berhubungan dengan akun penjualan. Saldo yang ada pada rekening penyisihan tidak dianggap. 7-35 LO 5 Explain accounting issues related to valuation of accounts receivable. Uncollectible Accounts Receivable Percentage-of-Sales Approach Illustration: Gonzalez Company estimates from past experience that about 1% of credit sales become uncollectible. If net credit sales are $800,000 in 2011, it records bad debt expense as follows. Bad Debt Expense Allowance for Doubtful Accounts 8,000 8,000 Illustration 7-8 7-36 LO 5 Uncollectible Accounts Receivable Pendekatan Percentage-of-Receivables Piutang dilaporkan sebesar nilai kas yang dapat terealisasi. Companies may apply this method using ► Composite rate, or ► Aging schedule. 7-37 LO 5 Explain accounting issues related to valuation of accounts receivable. Uncollectible Accounts Receivable Illustration 7-9 Accounts Receivable Aging Schedule What entry would Wilson make assuming that no balance existed in the allowance account? Bad Debt Expense Allowance for Doubtful Accounts 7-38 37,650 37,650 LO 5 Explain accounting issues related to valuation of accounts receivable. Uncollectible Accounts Receivable Illustration 7-9 Accounts Receivable Aging Schedule What entry would Wilson make assuming the allowance account had a credit balance of $800 before adjustment? Bad Debt Expense ($37,650 – $800) Allowance for Doubtful Accounts 7-39 36,850 36,850 LO 5 Explain accounting issues related to valuation of accounts receivable. Recovery of Uncollectible Accounts Illustration: Assume that the financial vice president of Brown Furniture authorizes a write-off of the $1,000 balance owed by Randall Co. on March 1, 2012. The entry to record the write-off is: Bad Debt Expense 1,000 Accounts Receivable 1,000 Assume that on July 1, Randall Co. pays the $1,000 amount that Brown had written off on March 1. These are the entries: 7-40 Accounts Receivable Allowance for Doubtful Accounts 1,000 Cash Accounts Receivable 1,000 1,000 1,000 LO 5 Accounts Receivable Proses Evaluasi Penurunan Perusahaan menilai penurunan terhadap piutang di setiap periode pelaporan. Peristiwa yang memungkinkan terjadinya penurunan antara lain: 1. Masalah keuangan yang signifikan dari pelanggan. 2. Kegagalan pembayaran. 3. Negosiasi ulang persyaratan piutang karena kesulitan keuangan pelanggan. 4. Penurunan estimasi arus kas masa depan dari kelompok piutang sejak pengakuan awal, meskipun penurunannya belum dapat diidentifikasi dengan aset dalam kelompok perusahaan tersebut. 7-41 LO 5 Explain accounting issues related to valuation of accounts receivable. Accounts Receivable Illustration: Hector Company has the following receivables classified into individually significant and all other receivables. Hector determines that Yaan’s receivable is impaired by $15,000, and Blanchard’s receivable is totally impaired. Both Randon’s and Fernando’s receivables are not considered impaired. Hector also determines that a composite rate of 2% is appropriate to measure impairment on all other receivables. 7-42 LO 5 Accounts Receivable The total impairment is computed as follows. Illustration 7-10 7-43 LO 5 Explain accounting issues related to valuation of accounts receivable. Notes Receivable Didukung oleh promissory note Instrumen yang dapat dinegosiasikan. Ditandatangani oleh pembuat (maker). Diklasifikasikan menjadi: Interest bearing notes Zero interest bearing notes 7-44 LO 6 Explain accounting issues related to recognition of notes receivable. Zero-Interest-Bearing Note Illustration: Jeremiah Company receives a three-year, $10,000 zero-interest-bearing note. The market rate of interest for a note of similar risk is 9 percent. How does Jeremiah record the receipt of the note? i = 9% $10,000 Principal 0 $0 $0 1 3 $0 Interest 3 4 n=3 7-45 LO 6 Explain accounting issues related to recognition of notes receivable. Zero-Interest-Bearing Note PV of Principal $10,000 Principal 7-46 x .77218 Factor = $7,721.80 Present Value LO 6 Explain accounting issues related to recognition of notes receivable. Zero-Interest-Bearing Note Illustration 7-14 7-47 LO 6 Explain accounting issues related to recognition of notes receivable. Zero-Interest-Bearing Note Journal Entries for Zero-Interest-Bearing note Present value of Principal Date Account Title Jan. yr. 1 Notes receivable $7,721.80 Debit 7,721.80 Cash Dec. yr. 1 Notes receivable Interest revenue Credit 7,721.80 694.96 694.96 ($7,721.80 x 9%) 7-48 LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note Illustration: Morgan Corp. makes a loan to Marie Co. and receives in exchange a three-year, $10,000 note bearing interest at 10 percent annually. The market rate of interest for a note of similar risk is 12 percent. How does Morgan record the receipt of the note? i = 12% $10,000 Principal 0 $1,000 $1,000 1 2 $1,000 Interest 3 4 n=3 7-49 LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note PV of Interest $1,000 x Interest Received 7-50 2.40183 Factor = $2,402 Present Value LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note PV of Principal $10,000 Principal 7-51 x .71178 Factor = $7,118 Present Value LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note Illustration: How does Morgan record the receipt of the note? Illustration 7-13 Notes Receivable Cash 7-52 9,520 9,520 LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note Illustration 7-14 7-53 LO 6 Explain accounting issues related to recognition of notes receivable. Interest-Bearing Note Journal Entries for Interest-Bearing Note Date Account Title Beg. yr. 1 Notes receivable Debit 9,520 Cash End. yr. 1 Cash Notes receivable Interest revenue Credit 9,520 1,000 142 1,142 ($9,520 x 12%) 7-54 LO 6 Explain accounting issues related to recognition of notes receivable. Notes Receivable Umumnya berasal dari: Pelanggan yang perlu untuk memperpanjang jangka waktu pembayaran atas piutang yang beredar. Beresiko tinggi atau pelanggan baru. Pinjaman untuk karyawan dan anak perusahaan. Penjualan properti, pabrik dan peralatan. Mayoritas berasal dari transaksi peminjaman 7-55 LO 6 Explain accounting issues related to recognition of notes receivable. Pengakuan Piutang Wesel 7-56 Jangka Pendek Jangka Panjang Dicatat Nilai Nominal, Dikurangi penyisihan Dicatat Nilai sekarang Dari kas yang diperkirakan akan tertagih Suku Bunga Dijual pada: Ditetapkan = Pasar Nilai Nominal Ditetapkan > Pasar Premium Ditetapkan < Pasar Discount LO 6 Explain accounting issues related to recognition of notes receivable. Notes Receivable Penilaian Piutang Wesel Jangka Pendek dicatat dan dilaporkan pada nilai realisasi bersihnya, yaitu pada jumlah nominalnya dikurangi semua penyisihan yang diperlukan. Jangka Panjang tes penurunan nilai sering dilakukan secara penilaian individu. Rugi penurunan nilai diukur sebagai selisih antara nilai tercatat piutang dan nilai sekarang dari estimasi arus kas masa depan yang didiskontokan pada tingkat bunga efektif awal. 7-57 LO 7 Explain accounting issues related to valuation of notes receivable. Notes Receivable Illustration: Tesco Inc. has a note receivable with a carrying amount of $200,000. The debtor, Morganese Company, has indicated that it is experiencing financial difficulty. Tesco decides that Morganese’s note receivable is therefore impaired. Tesco computes the present value of the future cash flows discounted at its original effective-interest rate to be $175,000. The computation of the loss on impairment is as follows. 7-58 LO 7 Explain accounting issues related to valuation of notes receivable. Notes Receivable The computation of the loss on impairment is as follows. The entry to record the impairment loss is as follows. Bad Debt Expense Allowance for Doubtful Accounts 7-59 25,000 25,000 LO 7 Explain accounting issues related to valuation of notes receivable. Special Issued Terdapat 3 (tiga) isu khusus terkait akuntansi dan pelaporan piutang, yaitu: 1. Fair Value Option; 2. Derecognition of receivables; 3. Presentation and analysis. 7-60 Special Issued Fair Value Option Perusahaan memiliki pilihan untuk mencatat nilai wajar dalam rekening mereka untuk sebagian besar aset dan kewajiban, termasuk piutang. [6] The IASB percaya bahwa pengukuran nilai wajar untuk instrumen keuangan memberikan informasi yang lebih relevan dan mudah dipahami daripada biaya historis karena mencerminkan arus nilai setara kas dari instrumen keuangan. [6] International Accounting Standard 39, Financial Instruments: Recognition and Measurement (London, U.K.: International Accounting Standards Committee Foundation, 2003), paras. IN16 and 9. 7-61 LO 8 Understand special topics related to receivables. Special Issued Pengukuran Nilai Wajar ► Piutang dicatat berdasarkan nilai wajar. ► Keuntungan atau kerugian yang belum direalisasi dilaporkan sebagai bagian dari laba bersih. ► Jika perusahaan memilih nilai wajar untuk piutangnya, maka pilihan tersebut harus terus digunakan sampai perusahaan tidak memiliki piutang. 7-62 LO 8 Understand special topics related to receivables. Special Issues Related To Receivables Illustration (Recording Fair Value Option): Assume that Escobar Company has notes receivable that have a fair value of $810,000 and a carrying amount of $620,000. Escobar decides on December 31, 2011, to use the fair value option for these receivables. This is the first valuation of these recently acquired receivables. At December 31, 2011, Escobar makes an adjusting entry to record the increase in value of Notes Receivable and to record the unrealized holding gain, as follows. Notes Receivable 190,000 Unrealized Holding Gain or Loss—Income 7-63 LO 8 190,000 Understand special topics related to receivables. Special Issued Derecognition of receivables Perusahaan dapat mengalihkan (misalnya, menjual) piutang kepada perusahaan lain untuk memperoleh kas. Alasan-alasannya: Kompetisi. Menjual piutang karena kekurangan kas. Penagihan yang memakan waktu dan biaya yang mahal. Transfer dilakukan dengan: 7-64 1. Pinjaman yang dijaminkan 2. Penjualan piutang LO 8 Understand special topics related to receivables. Penjualan Piutang Factor merupakan perusahaan keuangan atau bank yang membeli piutang dari perusahaan untuk mendapatkan fee. Illustration 7-19 7-65 LO 8 Understand special topics related to receivables. Sales of Receivables Illustration: Crest Textiles, Inc. factors €500,000 of accounts receivable with Commercial Factors, Inc., on a non-guarantee (or without recourse) basis. Commercial Factors assesses a finance charge of 3 percent of the amount of accounts receivable and retains an amount equal to 5 percent of the accounts receivable (for probable adjustments). Crest Textiles and Commercial Factors make the following journal entries for the receivables transferred without recourse. Illustration 7-20 7-66 LO 8 Understand special topics related to receivables. Penjualan Piutang Assume Crest Textiles sold the receivables on a with guarantee basis. Illustration 7-21 7-67 LO 8 Understand special topics related to receivables. Presentation and Analysis Presentation: 1. Mengidentifikasi dalam laporan posisi keuangan atau dalam catatan setiap jenis utama piutang. 2. Melaporkan piutang jangka pendek di aset lancar. 3. Melaporkan nilai bruto piutang dan penyisihan piutang tak tertagih. 4. Melaporkan beban piutang tak tertagih dan beban imbalan jasa sebagai beban penjualan. 5. Melaporkan pendapatan bunga pada bagian lain-lain non operasional. 7-68 LO 9 Describe how to report and analyze receivables. Presentation and Analysis Analysis of Receivables Illustration 7-24 This Ratio used to: Menilai likuiditas piutang. Mengukur jumlah rata-rata perusahaan mengumpulkan piutang selama periode berjalan 7-69 LO 9 Describe how to report and analyze receivables.
