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Dosen: R. Purwoko P. Ak. MFME-mail: [email protected]

HP : 0813 10515911

mailto:[email protected]

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


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”


Akuntansi adalah : kegiatan jasa menyajikan informasi kuantitatif

bersifat keuangan dari suatu entitas ekonomi untuk pengambilan keputusan ekonomi

dalam memilih berbagai pilihan tindakan.


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

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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

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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.


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Accounting estimates and judgments are outlined in the notes to financial statements.


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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

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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 :




Second level

Illustration 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.


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


(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


Predictive value

Confirmatory value

Neutrality

Completeness

Timeliness

Verifiability

Understandability

Comparability



(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


Predictive value

Confirmatory value

Neutrality

Completeness

Timeliness

Verifiability

Understandability

Comparability


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




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.


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.


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.


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= +



Claims against assets (debts and obligations).

Creditors - party to whom money is owed.

Accounts payable, Notes payable, etc.

Liabilities

AssetsAssets LiabilitiesLiabilities= + EquityEquity



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


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


Dividends are the distribution of cash or other assets to shareholders.

Reduce retained earnings

Not an expense


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.


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 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



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

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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.



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.


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

http://www.iasb.org/


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).

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