Tim Asisten Dosen Akuntansi Instrumen Keuangan
2022
MODUL CHAPTER 4
Dilutive Securities and Earning Per Share
Sekuritas dilutif adalah surat berharga yang mempunyai pengaruh mengurangi laba per
saham bila surat berharga tersebut dikonversikan menjadi saham biasa dan perubahannya
berakibat pengurangan laba per saham. Surat berharga ini adalah
1. Obligasi yang dapat dikonversikan (Convertible Bond)
2. Saham Preferen yang dapat dikonversikan (Convertible Preference Shares)
3. Waran, hak opsi dan hak atas saham
4. Pemecahan Saham (Share Split)
Earning Per Share (EPS) adalah hak atas laba untuk setiap lembar saham.
Tujuan dari EPS;
1. Menentukan harga pasar saham
2. Menentukan besarnya dividen yang akan dibagi
Perhitungan untuk laba perlembar saham;
1. Struktur modal sederhana (simple structure)
2. Struktur modal kompleks (complex structure)
Contoh Soal
SOAL 1: Convertible Bond
Semicolon Co. Issued $ 3.000.000 of 10%, 8 years convertible bond on July 1, 2019. The
bond were dated July 1,2019, with interest payable June 30 and method. The net present
value of the bond without the conversion feature discounted at 12%. On June 30, 2019, $
3.000.000 of these bonds were converted into 15.000 shares of $ 150 par value ordinary
shares. Accrued interest was paid in cash at the instruction.
a. Prepare the entry to record the issuance of the convertible bond on July 1,2019
b. Prepare the entry to record the interest expanse at December 31,2019
c. Prepare the entry to record the conversion on June 30, 2020
Tim Asisten Dosen Akuntansi Instrumen Keuangan
2022
Jawab:
a. Fair value of liability component of convertible bond
FV of Principle = $3.000.000 x (0,393646) * = $ 1.180.939
* Perhitungan
1 1
¿
¿¿ ¿¿
FV of interest = ($ 3.000.000 x 0,05) x 10.10589 = $ 1.515.884
10 % 1 1
0,05 = , 10.10589 = 1− ¿ = 1− ¿
2 ¿¿ ¿¿
FV of liability component = $ 2.696.823
Equity Component
FV of convertible debt = $ 3.000.000
FV Liability component = ($ 2.696.823)
FV = $ 303.177
Jurnal:
Dr. Cash $ 3.000.0000
Cr. Liabillity Component $ 2.696.823
Cr. Share premium – conversion equity $ 303.177
Convertible Bond Amortization Schedule
Discount Carrying
Date Cash Paid Interest Expanse
Amortized Amount
01-Jul-19 2.696.823
31-Des-19 150.000 161.809 11.809 2.708.632
01-Jul-20 150.000 162.518 12.518 2.721.150
31-Des-20 150.000 163.269 13.269 2.734.419
Keterangan:
10 %
Cash Paid = $3.000.000 x
2
Tim Asisten Dosen Akuntansi Instrumen Keuangan
2022
Interest expanse = Carrying Amount x 12%/2
b. Jurnal 31 Desember 2019
Dr. Interest expense 161.809
Cr. Bond Payable 11.809
Cr. Cash 150.000
c. Jurnal konversi ke saham biasa
Dr. Bond Payable 2.721.150
Dr. Share premium – conversion equity 303.177
Cr. Share capital-ordinary 2.250.000
($150 x 15.000)
Cr. Share premium – ordinary 774.327
SOAL 2: Share Options
On November 1,2017, Ruby Inc approve a plan that grants the company’s five executives
options to purchase 2000 share each of the company’s $110 par value ordinary shares. The
company grants the options on January 1, 2018. The excecutives may exercise the option at
any time within the next 10 year. The option price per share $ 5.000, and the market price of
the shares at the date of grant is $ 6.000 per share. Assume that fair value option pricing
model determines Ruby Inc total compensation expanse $ 24.000.000 and the expected
period of benefit is two years, starting with the grant date. If Ruby Inc executives exercise
3.000 of the 10.000 options on June 2019. Prepare journal entries relating to the share option.
Jawab:
Journal entries relating to the share option.
At date of grant
No entry
To record compensation expanse per 2018
Dr. Compensation expanse 12.000.000 (24.000.000/2)
Tim Asisten Dosen Akuntansi Instrumen Keuangan
2022
Cr. Share premium – share option 12.000.000
To record compensation expanse 2019
Dr. Compensation expanse 12.000.000
Cr. Share premium – share option 12.000.000
Jurnal 1 juni 2019 (menjual hak opsi)
Dr. Cash 10.000.000 (2.000 x $ 5.000)
Dr. Share premium –share option 7.200.000 (30% x 24.000.000)
Cr. Share capital – ordinary 220.000 (2.000 x $110))
Cr. Share premium – ordinary 16.980.000 ($5.000 – $110) x 2.000)
+ 7.200.000)
3.000
30% =
10.000
Jurnal 1/1 2028 (expiration date)
Dr. Share premium – share option 16.800.000
Cr. Share premium – expired share option 16.800.000
((100%-30%) x 24.000.000)
