Chapter 14-1

Non-Current Liabilities

Chapter

14
Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield

Chapter 14-2

DRA. LILIK PURWANTI, M.Si, AK

Learning Objectives
1. Identifikasi macam-macam penerbitan obligasi.

2.
3. 4. 5. 6.

Menggambarkan accounting dan valuation penerbitan obligasi pada saat penerbitan.

Methods amortisasi discount and premium obligasi. Menggambarkan akuntansi untuk penebusan obligasi. Menjelaskan akuntansi Utang Wesel Jangka Panjang. Explain the reporting of off-balance-sheet financing arrangements.

Chapter 14-3

Utang Obligasi dan Utang Wesel Jk Panjang

Utang Obligasi

Utang Wesel Jangka Panjang

Special Issues

Issuing bonds Types and ratings Valuation Effective-interest method

Notes issued at face value Notes not issued at face value Special situations Mortgage notes payable

Extinguishment Vair value option Off Balance-sheet financing Presentation and analysis

Chapter 14-4

Bonds Payable
Long-term debt adalah pengorbanan manfaat

ekonomi yang sangat mungkin di masa depan akibat

kewajiban sekarang yang tidak dibayarkan dalam satu tahun atau satu siklus operasi perusahaan. Examples: Bonds payable Notes payable Mortgages payable

Pension liabilities
Lease liabilities

Chapter 14-5

Issuing Bonds
Kontrak obligasi dikenal bond indenture (perjanjian).
Perjanjian meliputi:
(1) Jumlah yang ditetapkan pada tanggal jatuh

tempo, ditambah

(2) Bunga periodik pada tingkat tertentu atas jumlah

jatuh tempo atau nilai nominal

Paper certificate, berisi nilai nominal dan bunga dibayarkan setiap tengah tahun. Tujuan peminjaman ketika perusahaan perlu modal yang terlalu besar untuk disediakan oleh satu orang.
Chapter 14-6

Types of Bonds
Macam-macam Obligasi:
Obligasi dijamin and tanpa jaminan dijamin dengan saham, obligasi lain

Obligasi Berjangka jatuh tempo satu tanggal, Obligasi berserijatuh tempo beberapa tanggal, and Callable bonds (obligasi yang dapat ditebus)ditebus sebelum jatuh tempo
Convertible bondsObligasi yang dapat dikonversi dengan surat berharga lain
Chapter 14-7

Types of Bonds
Commodity-backed bondsobligasi yang dapat ditebus dengan komoditi: minyak, batu bara dll

Registered bonds (Obligasi Terdaftar atau atas nama pemilik)jika dijual harus terbitkan obligasi baru and Bearer or coupon bonds (Obligasi atas unjuk atau kupon) dapat dipindah tangan karena tidak atas nama. Income bonds tidak membayar bunga kecuali penerbit obligasi memperoleh laba, and Revenue bondsmembayar bunga dari sumber pendapatan tertentu (dikeluarkan oleh bandara, otoritas jalan tol dll.

Chapter 14-8

Valuation of Bonds Discount and Premium

Waktu diantara tanggal obligasi dan saat penjualan, mungkin menimbulkan perbedaan harga yang signifikan antara nilai nominal obligasi dan harga pasar. Sehingga menimbulkan diskonto atau premi. A bond values at the present value of its expected future cash flows, which consist of (1) interest and (2) principal (nominal).

Chapter 14-9

Valuation of Bonds Discount and Premium

Interest Rates
Stated, coupon, or nominal rate = bunga yang tertulis pada surat obligasi yang menunjukkan bunga yang harus dibayar selama obliogasi beredar. Market rate or effective yield = tingkat pengembalian yang diharapkan diperoleh atas investasi dengan resiko yang serupa.

Chapter 14-10

Valuation of Bonds Discount and Premium

Bunga yang sesungguhnya dibayarkan kepada pemegang obligasi: (Stated rate x Face Value of the bond)

Jumlah bunga yang sesungguhnya dicatat sebagai beban bunga dengan menerbitkan utang obligasi:
(Market rate x Carrying Value of the bond)
Chapter 14-11

Valuation of Bonds Discount and Premium

Assume Stated Rate of 8%
Market Interest Bonds Sold At

6% 8% 10%
Chapter 14-12

Premium Face Value Discount

Bonds Issued at Par

Illustration Five year bonds are issued at face value of $100,000 on Jan. 1, 2011, with a stated interest rate of 9%. Interest paid annually on Jan. 1. Calculate the issue price of the bonds, market interest rate of 9%. Market Rate 9% (PV for 5 periods at 9%)
Principal Interest $100.000 x 0,64993 = 9.000 x 3,88965 = Present value Face value $ 64.993 35.007 100.000 100.000 $ 0

Discount
Chapter 14-13

Bonds Issued at Par

Illustration Three year bonds are issued at face value of $100,000 on Jan. 1, 2011, a stated interest rate of 9%, and market rate of 9%.
Cash Date 1/1/07 12/31/07 12/31/08 12/31/09
Chapter 14-14

Interest Expense $ 9.000 9.000 9.000

Carrying Amount ##### 100.000 100.000 100.000

Paid $ 9.000 9.000 9.000

Bonds Issued at Par

Illustration Stated rate = 8%. Market rate = 8%.

Tingkat bunga oblgasi = tingkat unga pasar sehingga tidak ada premi atau diskonto
Journal entries for 2011 dam 2012:
1/1/11
12/31/11

Cash Bonds payable Interest expense Interest payable Interest payable Cash

100,000
9.000 100,000 9.000 9,000

1/1/12

9,000

Chapter 14-15

Bonds Issued at a Discount

Illustration Three year bonds are issued at face value of $100,000 on Jan. 1, 2011, and a stated interest rate of 8%. Bunga dibayar setiap 31 Des. Calculate the issue price of the bonds assuming a

market interest rate of 10%.

Principal Interest

Market Rate 10% (PV for 3 periods at 10%)

$100,000 x 0.75132 = 8,000 x 2.48685 = Present value Face value $ 75,132 19,895 95,027 100,000 $ (4,973)

Discount
Chapter 14-16

Bonds Issued at a Discount

Illustration Three year bonds are issued at face value of $100,000 on Jan. 1, 2011, a stated interest rate of

8%, and market rate of 10%.

8% Cash Paid $ 8.000 8.000 8.000

Date 1/1/11 12/31/11 12/31/12 12/31/13

Chapter 14-17

10% Interest Discount Expense Amortized $ 9.503 9.653 9.817 * $ 1.503 1.653 1.817

Carrying Amount $ 95.027 96.530 98.183 100.000

* rounding

Bonds Issued at a Discount

Illustration Stated rate = 8%. Market rate = 10%.
Journal entries for 2007:
1/1/11 Cash 95,027 Bonds payable (Mencatat penerbitan obligasi dengan diskonto) 12/31/11 95,027

Interest expense 9,503 Bonds payable 1,503 Cash 8,000 (Mencatat amortisasi diskonto dan pembayaran bunga)
Chapter 14-18

Bonds Issued at a Premium

Illustration Three year bonds are issued at face value of $100,000 on Jan. 1, 2007, and a stated interest rate of 8%. Calculate the issue price of the bonds assuming

a market interest rate of 6%.

Principal Interest

Market Rate 6% (PV for 3 periods at 6%)

$100,000 x 0.83962 = $ 83,962 8,000 x 2.67301 = 21,384 Present value 105,346 Face value 100,000

Premium
Chapter 14-19

5,346

Bonds Issued at a Premium

Illustration Three year bonds are issued at face value of $100,000 on Jan. 1, 2011, a stated interest rate of

8%, and market rate of 6%.

8% Cash Paid $ 8.000 8.000 8.000

Date 1/1/11 12/31/11 12/31/12 12/31/12

Chapter 14-20

6% Interest Premium Expense Amortized $ 6.321 6.220 6.113 $ 1.679 1.780 1.887

Carrying Amount ##### 103.667 101.887 100.000

Bonds Issued at a Premium

Illustration Stated rate = 8%. Market rate = 6%.
Journal entries for 2011:
1/1/11 Cash 105,346 Bonds payable 105,346 (Mencatat penerbitan obligasi dengan premi) 12/31/11 Interest expense 6,321 Bonds payable 1,679 Cash (Mencatat pembayaran bunga dan amortisasi premi)
Chapter 14-21

8,000

Valuation of Bonds Discount and Premium

Bonds Issued between Interest Dates (Penerbitan obligsi diantara tanggal pembayaran bunga) bunga berjalan
Pembeli membayar kepada penjual bunga yang terutang sejak tanggal pembayaran bunga terakhir s/d tanggal transaksi. Pada tanggal pembayaran bunga mendatang maka pembeli akan menerima bunga penuh lihat hal 729.
Chapter 14-22

Valuation of Bonds Discount and Premium

Classification of Discount and Premium
Tidak ada rekening Discount on bonds payable di Neraca karena utang obligasi dicatat sebesar PV atau harga jual (PV dikurangi biaya penerbitan)
Cash Inventories Plant assets, net Total assets Liabilities and Equity Accounts payable Bonds payable $ 80.000 140.000 $ 40.000 95.000 280.000 ####

Common stock, $1 par 150.000 Retained earnings 60.000 Total liabilities and equity####
Chapter 14-23

Costs of Issuing Bonds

Biaya penerbitan obligasi: biaya percetakan, biaya notaris, biaya iklan, biaya pialang dll.
1.

2.

Biaya penerbitan obligasi diakui sebagai pengurang langsung kas hasil penjualan obligasi beban yang ditangguhkan dan tidak ada amortisasi selama umur obligasi. Perlakuannya sama dengan diskonto yaitu tidak ada rekening premi atau diskonto tetapi sudah masuk dalam rekening utang obligasi

Chapter 14-24

Extinguishment of Debt

Extinguishment (penebusan) obligasi before Maturity Date bisa timbul Laba atau Rugi
Rugi Reacquisition price > Net carrying amount
Laba Net carrying amount > Reacquisition price

Chapter 14-25

Extinguishment of Debt
Illustration Three year 8% bonds of $100,000 issued on Jan. 1, 2011, are recalled at 105 on Dec. 31, 2012. Expenses of recall are $2,000. Market interest on issue date was 10%.
Date 1/1/11 12/31/11 12/31/12 $ 8.000 8.000 $ 9.503 9.653 $ 1.503 1.653 8% Cash Paid 10% Interest Discount Expense Amortized Carrying Amount $ 95.027 96.530 98.183

Account Balances at Dec. 31, 2012:

Bonds payable = $98,183

Reacquisition price = $105,000 + 2,000 = $107,000

Chapter 14-26

107.000 - 98.183 = $ 8,817 Rugi penebusan

Extinguishment of Debt
Illustration Three year 8% bonds of $100,000 issued on Jan. 1, 2011, are recalled at 105 on Dec. 31, 2012. Expenses of recall are $2,000. Market interest on issue date was 8%.

Journal entry at Dec. 31, 2012:

Bonds payable Loss on extinguishment Cash 98.183 8,817

107,000

Chapter 14-27