Materi Tambahan Pembayaran Berbassis Saham (PSAK 53, IFRS 2)

PSAK 53:Pembayaran Berbasis Saham

1PSAK TERKINI SESUAI DENGAN PROGRAM KONVERGENSI IFRS DAN PENERAPANNYA

Basar AlhueniusTim Implementasi IFRS

Bogor, 15 Nopember 2011

Transaksi pembayaran Berbasis sahamDiselesaikan denganInstrumen ekuitasDiselesaikan denganKas/bankDiselesaikan dengan ekuitas atau kas/bankEntitas mengukur nilai Barang dan jasa yang diterima dan kenaikan terkait sebagai pembayaran atas instrumen ekuitas entitas tersebutEntitas mengukur barang atau jasa yang diperoleh dan liabilitas yang timbul sebesar nilai wajar liabilitas berdasarkan harga (atau nilai) dari saham atau instrumen ekuitas lainnya .Persyaratan pernjanjian yang memberikan pilihan kepada entitas atau pihak lawan untuk menyelesaikan transaksi dengan kas (atau aset lain) untuk suatu jumlah berdasarkan harga instrumen ekuitas atau menerima instrumen ekuitas Transaksi Pembayaran Berbasis Saham2Perlakuan Prinsip Akuntansi Secara Umum 3Prinsip umumBiaya dibebankan pada laporan laba rugi dan dan kenaikan terkait di komponen ekuitas dicatat ketika barang atau jasa telah disediakan oleh pihak lawan Jasa lalu (Past services)Jumlah diakui segera sebagai bebanPengakuan sebagai bebanJasa masa depan (Future services)Beban diakui selama periode vesting Disediakan oleh karyawan

Jumlah pada tanggal pemberian didasarkan atas nilai wajar dari instrumen ekuitas pada tanggal tersebut dan selanjutnya tidak disesuaikan. Jumlah yang diakui selama periode vesting diestimasi dengan instrumen ekuitas yang diharapkan akan vesting dan selanjutnya dilakukan penyesuaian Disediakan oleh non-karyawan

Berdasarkan nilai wajar dari barang dan jasa yang diberikan pada tanggal penerimaan Transaksi pembayaran berbasis saham yang diselesaikan dengan instrumen ekuitas

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Determination of fair value of share-based transactionsTindakan apa, jika opsi saham tidak dieksekusi setelah tanggal Vesting?Entitas tidak boleh membalik jumlah yang diakui untuk jasa yang diterima dari karyawan jika instrumen ekuitas yang vested kemudian menjadi hangus (forfeited), atau dalam hal opsi saham, opsi tersebut tidak dieksekusi.Namun, persyaratan ini tidak melarang entitas untuk mengakui transfer antar komponen ekuitas, yaitu transfer dari satu komponen ekuitas ke komponen ekuitas lainnya. (par 25)

5May include one or more of the followingRepricingChange in vesting conditionInclusion of cash alternativeCancellation of grantEarly settlement of grantModification to Share Option Plans6Repricing7RepricingIncrease fair value of equity instrumentReduce fair value of equity instrumentRecognize effect of modification Ignore effect of modification Modifications That Increase the Total Fair Value of the Share-based8Determine reason for increase of fair valueReduction of exercise priceIncrease in number of equity instrumentsIncremental value(FV revised option FV of original option)Incremental valueFV of additional equity instrumentsIncremental value added to original amountModifications That Increase the Total Fair Value of the Share-based Arrangement9Period of modificationDuring vesting periodAfter vesting periodOriginal amount allocated over vesting periodIncremental fair value allocated over remaining vesting periodIncremental fair value recognized immediatelyOn vesting periodIncremental fair value recognized immediatelyEquity Instruments Whose Fair Value Cannot Be Estimated Reliably10IFRS 2:24 allows the use of intrinsic method to calculate remuneration expenseDate of receiptSubsequent balance sheet dateSettlement dateEquity instrument measured at intrinsic value, and changes are recognized in P/LTransaction amount recognized based on number of equity instruments expected to vest and estimate is revised to number of ultimately vested instruments

Intrinsic methodCash-settled Share-based TransactionsShare-based plans that pay cash to employees instead of issuing new equity instruments

Example is share appreciation rightsEmployees entitled to cash payment based on intrinsic value of equity instruments at the date of payment to be made

Firm incur liability for the services received from the employeesMeasured initially and remeasured at each reporting date to settlement dateFair value estimated using option valuation modelChanges in fair value goes to profit or loss11Share-based Payment Arrangements with a Cash Alternative12Accounting treatment depends on which party has the right to choose the settlement methodChoice of settlement method rests with the firmChoice of settlement method rests with the employeeChoice of the Settlement Method Rests with the Firm13Indications of obligations to settle in cashChoice of settlement has no commercial substanceHistory of settling in cash when requestedStated policy of settling in cashPast practices of settling in cashChoice of the Settlement Method Rests with the Firm14Obligation to settle in cashYesAccount as cash-settled share-based transactionNoSettle in cashIssue equity instrumentsRepurchase of equity interest + (cash paid - FV of equity)Repurchase of equity interestNo further accountingExcess of FV of equity over cash Cash settlement has higher valueEquity settlement has higher valueChoice of the Settlement Method Rests with the Employee15From firms perspective, substance of arrangement is effectively a grant of a compound financial instrument with debt and equity componentRelationships between debt and equity componentFair value of debt componentFair value of the cash alternative=Fair value of equity componentFair value of the equity alternative=Fair value of the cash alternative-Fair value of compound financial instrumentFair value of the debt component=Fair value of the equity component+Choice of the Settlement Method Rests with the EmployeeMeasurement dateVesting PeriodSettlement DateDebtFair value of the cash alternative

Same as cash-settled share-based payment transactions and remeasured and recognized in P/LLiability remeasured at fair value. Transferred to equityEquityDifference in fair value of equity alternative and cash alternativeSame as equity-settled share-based payment transactions and remeasured and recognized in equityRemains in equity, but is transferable from one component to another16Equity settled transactions example 1Journal entry for 2008 year is:DRRemuneration expense35,000CRShare options35,000

17YearCalculationExpense for yearCumulative expense30/6/0830/6/0930/6/10(100 options x 50 employees x 84%*) x $25 x 1/3 years35,000 35,000(100 options x 50 employees x 88%*) x $25 x 2/3 years - $35,000

38,333 73,333(100 options x 44 employees*) x $25 $73,33336,667 110,000* The % of employees that the company still expects to be employed at the end of year 3Cash settled transactions example A Ltd grants 100 share appreciation rights (SARs) to each of its 50 employees on 1 Jul 2007. Each grant is conditional on the employee working for the company for the next 3 years.All SARs held by employees at the end of year 3 vest.The intrinsic value and estimates of the fair value of the SARs at the end of each year are as follows:

18YearFair valueIntrinsic value30/6/08$14.4030/6/09$15.5030/6/10$18.20$15.0030/6/11$21.40$20.0030/6/12$25.00Cash settled transactions example The following table summaries the actual employee departures and estimates of future employee departures across the vesting period:

19YearActual employee departuresRevised estimate of departures30/6/083a further 630/6/094a further 330/6/102N/ACash settled transactions example Required:Calculate the expense that would be recognised by A Ltd for each of the 2008 - 2012 years.

20Details of the number of employees who exercise the options after the have vested are as follows:

YearNumber exercised30/6/101530/6/111430/6/1212Cash settled transactions example21YearCalculationExpense for yearLiability20082009201020112012(100 x 41 employees) x $14.40 x 1/3 years19,68019,680(100 x 40 employees) x $15.50 x 2/3 years - $19,68021,65341,333(100 x 26 employees) x $18.20 $41,33315 employees x 100 exercised x $15 5,98722,50047,320(100 x 12 employees) x $21.40 $47,32014 employees x 100 exercised x $20(21,640) 28,00025,680(100 x 0 employees) x $25 $25,68012 employees x 100 exercised x $25(25,680) 30,000-BC123AA- Journal DR Expense CR LiabilityB- Journal DR Expense CR EquityC- Journal DR Liability CR Expense1. Total 2010 expense= $28,4873. Total 2012 expense= $4,3202. Total 2011 expense= $6,360Repricing of options example 4A Ltd grants 100 options to each of its 50 employees on 1 July 2007.Each grant is conditional on the employee working for the company for the next 3 years.The fair value of each option at grant date is $15A Ltd estimates that 20% of its employees will leave during the vesting period. The following table summaries the actual employee departures and revised estimates of employee departures across the vesting period:

22YearActual employee departuresRevised estimate of departures30/6/084a further 730/6/094a further 430/6/103N/ARepricing of options example 4By the end of year 1 the companys share price has fallen and it decides to re-price the options.At this time the fair value of the original options is estimated to be $5 and the fair value of the re-priced options is estimated to be $8.

Required:Calculate the expense that would be recognised by A Ltd for each of the 2008, 2009 and 2010 years.

23Repricing of options example 424YearCalculationExpense for yearCumulative expense30/6/0830/6/0930/6/10(100 options x (50 -11) employees) x $15 x 1/3 years19,50019,500(100 options x (50 12) employees) x [($15 x 2/3 years) + ($3 x 1/2 years)] - $19,50024,20043,700(100 options x (50-11) employees) x ($15+$3) $43,70026,50070,200Questions

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