Push Down Accounting

Consolidation Theories
and Push Down

Accounting
Yulis Diana Alfia
PENDAHULUAN
• Kepemilikan perusahaan atas perusahaan lain melalui kepemilikan
saham.
• Perusahaan induk (holding company) adalah perusahaan yang memiliki
saham 50% atau lebih sehingga memiliki kepentingan pengendali atas
perusahaan anak, atau kurang dari 50% tetapi memiliki kepentingan
pengendali atas pertimbangan tertentu.
• Perusahaan anak (subsidiary) adalah perusahaan yang sahamnya dikuasai
oleh perusahaan lain (umumnya di atas 50%).
• Laporan konsolidasi adalah sebuah dokumen laporan yang berisi
pengungkapan informasi keuangan induk perusahaan
beserta anak perusahaan sebagai satu entitas.
Teori Konsolidasi: Antara Parent
Company Theory dan Entity Theory
• Parent-company theory assumes that consolidated financial
statements are an extension of parent statements and should be
prepared from the viewpoint of parent stockholders. Under parent-
company theory, we prepare consolidated statements for the benefit
of the stockholders of the parent, and we do not expect that
noncontrolling stockholders can benefit significantly from the
statements. Consolidated net income under parent-company theory is
a measurement of income to the parent stockholders.
• The focal point of entity theory is that the consolidated statements
reflect the viewpoint of the total business entity, under which all
resources controlled by the entity are valued consistently.
Parent Company Theory
Consolidated financial statements are:
• Extension of parent company statement
• Viewpoint of parent company shareholders
Prepare consolidates statements

• To benefit parent company shareholders
Noncontrolling interests
• Have the separate (subsidiary) statements
Entity Theory
Consolidated financial statements
• Viewpoint of the total business entity
• All resources of the entity are valued consistently
 Impute the value of the firm from the acquisition price
• Income of non-controlling interests is a distribution of the total business income
Tugas
• Diskusikan perbedaan parent-company dan entity theory
Perbedaan Akuntansi
Consolidated Stockholder’s Equity
• Contemporary Theory
• Noncontrolling interest is a single amount and a part of
stockholder’s equity
• Entity Theory
• Noncontrolling interest is also part of stockholder’s equity
• It would be decomposed into paid in capital, retained earning, etc.
• Other ideas being promoted
• Use footnote disclosure for CI and NCI shares of consolidated income
• Use proportional consolidation, excluding NCI from the statements
Push Down Accounting
Consolidated Theories, Push-Down Accounting and Corporate Joint
Venture
SEC Requires Push Down
• SEC requires push-down accounting for SEC filings when the
subsidiary
• Is substantially fully owned (97%) and
• Has substantially no public debt or preferred stock
• Establishes a new basis for the assets and liabilities
• Based on acquisition price
• Arguments against
• Subsidiary is not party to the acquisition
• Subsidiary receives no new funds, sells no assets
Push-Down Procedure
• Assets dan liabilities direvaluasi
• Mencatat goodwill jika ada
• Retained earnings (prior to acquisition) dieliminasi
• Push-down capital replaces retained earnings
• Includes old retained earnings
• Any adjustments to assets and liabilities, including goodwill
• Paly buys 90% of Sim. Sim's book and fair values are:
• If Sim applies push-down accounting, it would revalue its inventories,

fixed assets, liabilities, and record goodwill.
Sim uses Parent Company Theory
• Sim revalues assets and liabilities only to the extent of Paly's
ownership. Only 90% of the increases/decreases are recorded.
Menggunakan Teori Entitas
• Sim fully revalues assets and liabilities. 100% of the
increases/decreases are recorded.
Bahan Diskusi
• Diskusikan dan berikan kesimpulan dua teori konsolidasi, parent
theory dan entity theory dalam push-down accounting.
Contoh Soal
•Konsolidasi Parent Company & Entity Theories
PC memiliki saham 90% di SC pada tanggal 1 Januari 2003 senilai $198,000. Pada tanggal tersebut,
Nilai Buku Bersih (Net Book Value) SC adalah $120,000.
$198,000 – ($120,000 × 90%) = $90,000
Book Fair
Book Fair
Value Value
PC 12/31/02 (000 ) Value Value
C
SCas12/31/02
h (000 ) $ 5 $ 5
C as h $ 22 0 $ 22 0
Net r ec eiv a ble s 30 35
Net r ec eiv a ble s 80 80
Inv en tories 40 50
Inv en tories 90 100
Other current as se ts 10 10
Other current as se ts 20 20
Plant assets, n e t 60 80
Plant assets, n e t 220 300
Total as se ts $14 5 $18 0
Total as se ts $63 0 $72 0
L ia b ilities $ 25 $ 25
L ia b ilities $ 80 $ 80
Capital stock, $10 p a r 100
Capital stock, $10 p a r 400
Retained e a rning s 20
Retained e a rning s 150
Total liabilities and stockholders’ e qu ities $14 5
Total liabilities and stockholders’ e qu ities $63 0

Push Down Accounting

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Push Down Accounting

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Consolidation Theories

and Push Down

Prepare consolidates statements

• If Sim applies push-down accounting, it would revalue its inventories,

$198,000 – ($120,000 × 90%) = $90,000

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