ch05 - Lap Posisi Keuangan Plus PSAK 1
ch05 - Lap Posisi Keuangan Plus PSAK 1
ch05 - Lap Posisi Keuangan Plus PSAK 1
Coby Harmon
University of California, Santa Barbara
Westmont College
5-1
Statement of Financial CHAPTER 5
Position and Statement
of Cash Flows
LEARNING
LEARNINGOBJECTIVES
OBJECTIVES
After studying this chapter, you should be able to:
1. Explain the uses, limitations, 3. Explain the purpose, content,
and content of the statement of and preparation of the
financial position. statement of cash flows.
2. Prepare a classified statement 4. Describe additional types of
of financial position. information provided.
5-2
PREVIEW OF CHAPTER 5
Intermediate Accounting
IFRS 3rd Edition
Kieso ● Weygandt ● Warfield
5-3
Statement
Statement of
of LEARNING OBJECTIVE 1
Explain the uses, limitations, and
Financial
Financial Position
Position content of the statement of
financial position.
5-4 LO 1
Statement
Statement of
of Financial
Financial Position
Position
Usefulness
Computing rates of return.
Evaluating the capital structure.
Assess risk and future cash flows.
Assess the company’s:
► Liquidity,
► Solvency, and
► Financial flexibility.
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Statement of Financial Position
Limitations
Most assets and liabilities are reported at historical
cost.
Use of judgments and estimates.
Many items of financial value
are omitted.
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Classification
5-7 LO 1
Classification
5-8 LO 1
Classification
5-9 LO 1
Classification
ILLUSTRATION 5.1
Subclassifications Statement of Financial
Position Classification
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Classification
Non-Current Assets
Generally consists of:
Long-Term Investments
Property, Plant, and Equipment
Intangibles Assets
Other Assets
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Classification
Long-term Investments
1. Securities (bonds, ordinary shares, or long-term notes).
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Classification
Non-Trading Current or
Equity Fair Value
Equity Non-current
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Classification
5-14 LO 1
Classification
5-15 LO 1
Classification
5-16 LO 1
Classification
Intangible Assets
Lack physical substance and are not financial instruments.
Patents, copyrights, franchises, goodwill, trademarks,
trade names, and customer lists.
Amortize limited-life intangible assets over their useful
lives.
Periodically assess indefinite-life intangibles for
impairment.
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Intangible Assets ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Other Assets
Items vary in practice. Can include:
Long-term prepaid expenses
Non-current receivables
Assets in special funds
Property held for sale
Restricted cash or securities
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Classification
Current Assets
Cash and other assets a company expects to convert
into cash, sell, or consume either in one year or in the
operating cycle, whichever is longer.
ILLUSTRATION 5.5
Current Assets and Basis of Valuation
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Classification
Inventories
Disclose:
Basis of valuation (e.g., lower-of-cost-or-net realizable
value).
Cost flow assumption (e.g., FIFO or average cost).
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Inventories ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Receivables
Major categories of receivables should be shown in the
statement of financial position or the related notes.
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Receivables ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Prepaid Expenses
Payment of cash, that is recorded as an asset because
service or benefit will be received in the future.
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Prepaid Expenses ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Short-Term Investments
Non-Trading Current or
Equity Fair Value
Equity Non-current
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Short-Term Investments ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Cash
Generally consist of currency and demand deposits.
Cash equivalents - short-term, highly liquid
investments that mature within three months or less.
Restrictions or commitments must be disclosed.
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Cash ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Equity Section
1. Share Capital. The par or stated value of shares issued. It includes
ordinary shares (sometimes referred to as common shares) and
preference shares (sometimes referred to as preferred shares).
2. Share Premium. The excess of amounts paid-in over the par or
stated value.
3. Retained Earnings. The company’s undistributed earnings.
4. Accumulated Other Comprehensive Income. The aggregate
amount of the other comprehensive income items.
5. Treasury Shares. Generally, the amount of ordinary shares
repurchased.
6. Non-Controlling Interest (Minority Interest). A portion of the equity
of subsidiaries not owned by the reporting company.
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Equity ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Non-Current Liabilities
Obligations that a company does not reasonably expect to
liquidate within the longer of one year or the normal
operating cycle. Three types:
1. Obligations arising from specific financing situations.
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Non-Current Liabilities ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial Position
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Classification
Current Liabilities
Obligations that a company generally expects to settle in
its normal operating cycle or one year, whichever is longer.
Includes:
1. Payables resulting from the acquisition of goods and
services.
5-36 LO 1
Statement of LEARNING OBJECTIVE 2
Prepare a classified statement of
Financial Position financial position.
5-37 LO 2
Statement of
Financial
Position
Report Form
lists the sections
one above the other.
ILLUSTRATION 5.17
Classified Report-Form
Statement of Financial
Position
5-38 LO 2
Laporan
Laporan Posisi
Posisi Keuangan
Keuangan (Neraca)
(Neraca)
5-39
Laporan
Laporan Posisi
Posisi Keuangan
Keuangan
ASET LIABILITAS
Aset Lancar Liabilitas Jangka Pendek PSAK 1
Aset tidak Lancar Liabilitas Jangka Panjang
Ekuitas
Hak Non Pengendali
Ekuitas yang dapat diatribusikan
ke pemilik entitas induk
ASET Ekuitas
IAS 1 Aset tidak Hak Non Pengendali
Lancar
Aset Lancar Ekuitas yang dapat diatribusikan
ke pemilik entitas induk
Liabilitas
Liabilitas Jangka Pendek
5-40 Liabilitas Jangka Panjang
Minimum
Minimum line
line item
item -- 11
• Pos tambahan, judul sub judul, sub total boleh disajikan sepanjang
relevan
• Jika menyajikan aset lancar dan tidak lancar serta liabilitas jangka
pendek dan jangka Panjang maka aset (liabilitas) pajak tangguhan
tidak diklasifikasikan sebagai aset lancar (liabilitas jangka pendek)
5-42
Pos
Pos dalam
dalam Laporan
Laporan
5-43
Aset
Aset lancar
lancar
Klasifikasi aset lancar, jika:
memperkirakan akan merealisasikan aset, atau
memiliki intensi untuk menjual atau
menggunakannya, dalam siklus operasi normal;
memiliki aset untuk tujuan diperdagangkan;
Memperkirakan akan merealisasi aset dalam
jangka waktu 12 bulan setelah pelaporan; atau
kas atau setara kas kecuali aset tersebut
dibatasi pertukarannya atau penggunaannya
untuk menyelesaikan liabilitas sekurang-
kurangnya 12 bulan setelah periode pelaporan.
Entitas mengklasifikasikan aset yang tidak termasuk
kategori tersebut sebagai aset tidak lancar.
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Liabilitas
Liabilitas jangka
jangka pendek
pendek
5-45
Penyajian
Penyajian dalam
dalam Laporan
Laporan Posisi
Posisi Keuangan
Keuangan
atau
atau CaLK
CaLK
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LEARNING OBJECTIVE 4
Additional Information Describe additional types of
information provided.
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Notes to the Financial Statements
ILLUSTRATION 5.30
Accounting Policies—
Inventory
ILLUSTRATION 5.31
Accounting Policies—
Intangible Asset
5-49 LO 4
Notes to the Financial Statements
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Additional Notes
ILLUSTRATION 5.36
Reconciliation Schedule for
Property, Plant, and Equipment
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Notes to the Financial Statements
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Additional Notes
ILLUSTRATION 5.34
Maturity Analysis
for Receivables
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Additional Notes
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Techniques of Disclosure
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Techniques of Disclosure
ILLUSTRATION 5.38
Cross-Referencing and Contra Items
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Additional Information
Other Guidelines
Fair
Offsetting Consistency
Presentation
Other Guidelines
Fair
Offsetting Consistency
Presentation
Other Guidelines
Fair
Offsetting Consistency
Presentation
5-59 LO 4
Catatan
Catatan atas
atas Laporan
Laporan Keuangan
Keuangan
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Catatan
Catatan atas
atas Laporan
Laporan Keuangan
Keuangan
Pengungkapan kebijakan akuntansi
Dasar pengukuran yang digunakan dalam menyusun laporan
keuangan
Kebijakan akuntansi lain yang diterapkan, yang relevan untuk
memahami laporan keuangan
Pertimbangan managemen dalam proses penerapan
kebijakan akuntansi yang berdampak paling signifikan
terhadap jumlah yang diakui dalam laporan keuangan
LEARNING OBJECTIVE 5
Identify the major types of financial ratios and what they measure.
ILLUSTRATION 5A.1
Using Ratios to Analyze Performance A Summary of
Financial Ratios
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APPENDIX 5A RATIO ANALYSIS—A REFERENCE
ILLUSTRATION 5A.1
Using Ratios to Analyze Performance A Summary of
Financial Ratios
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APPENDIX 5A RATIO ANALYSIS—A REFERENCE
ILLUSTRATION 5A.1
Using Ratios to Analyze Performance A Summary of
Financial Ratios
5-65 LO 5
GLOBAL ACCOUNTING INSIGHTS
LEARNING OBJECTIVE 6
Compare the accounting procedures for cash and receivables under IFRS and
U.S. GAAP.
As in IFRS, the statement of financial position and the statement of cash flows
are required statements for U.S. GAAP. In addition, the content and
presentation of a U.S. GAAP statement of financial position and cash flow
statement are similar to those used for IFRS.
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GLOBAL ACCOUNTING INSIGHTS
Relevant Facts
Following are the key similarities and differences between U.S. GAAP and
IFRS related to the statement of financial position.
Similarities
• Both U.S. GAAP and IFRS allow the use of the title “balance sheet” or
“statement of financial position.” IFRS recommends but does not require the
use of the title “statement of financial position” rather than balance sheet.
• Both U.S. GAAP and IFRS require disclosures about (1) accounting policies
followed, (2) judgments that management has made in the process of
applying the entity’s accounting policies, and (3) the key assumptions and
estimation uncertainty that could result in a material adjustment.
Comparative prior period information must be presented and financial
statements must be prepared annually.
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GLOBAL ACCOUNTING INSIGHTS
Relevant Facts
Similarities
• U.S. GAAP and IFRS require presentation of non-controlling interests in the
equity section of the statement of financial position.
Differences
• U.S. GAAP follows the same guidelines as presented in the chapter for
distinguishing between current and noncurrent assets and liabilities.
However, under U.S. GAAP, public companies must follow U.S. SEC
regulations, which require specific line items. In addition, specific U.S.
GAAP mandates certain forms of reporting for this information. IFRS
requires a classified statement of financial position except in very limited
situations.
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GLOBAL ACCOUNTING INSIGHTS
Relevant Facts
Differences
• Under U.S. GAAP cash is listed first, but under IFRS it is many times listed
last. That is, under IFRS, current assets are usually listed in the reverse
order of liquidity than under U.S. GAAP.
• U.S. GAAP has many differences in terminology that you will notice in this
textbook. One example is the use of common stock under U.S. GAAP,
which is referred to as share capital—ordinary under IFRS.
• Use of the term “reserve” is discouraged in U.S. GAAP, but there is no such
prohibition in IFRS.
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GLOBAL ACCOUNTING INSIGHTS
5-70 LO 6
GLOBAL ACCOUNTING INSIGHTS
On the Horizon
The IASB and the FASB are working on a project to converge their standards
related to financial statement presentation. A key feature of the proposed
framework is that each of the statements will be organized, in the same format,
to separate an entity’s financing activities from its operating and investing
activities and, further, to separate financing activities into transactions with
owners and creditors. Thus, the same classifications used in the statement of
financial position would also be used in the statement of comprehensive
income and the statement of cash flows.
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