PSAK 50 dan 55 Overview

Dwi Martani Ketua Departemen Akuntansi FEUI Anggota Tim Implementasi IFRS

Agenda

1 2 3 4

Overview PSAK 50 dan 55 dan perubahanya Definisi Pengakuan, pengukuran, penyajian g p g p y j Ilustrasi dan Contoh

Instrumen Keuangan 50,55,60

Instrumen Keuangan IAS 32 PSAK 50
Definisi dan klasifikasi Pemisahan liabilitas keuangan dan ekuitas Akuntansi untuk instrumen keuangan majemuk. Akuntansi untuk penarikan saham dan saham treasury Saling hapus atas aset dan liablitas

IAS 39 PSAK 55
Definisi, Definisi klasifikasi dan reklasifikasi Pengakuan dan penghapusan Pengukuran setelah pengakuan awal Akuntansi untuk derivarif untuk diperdagangkan dan hedging.

IFRS 7 PSAK 60
Pengungkapan instrumen keuangan dan risiko

Challenging issues from financial instruments

Distinguishing between financial b t fi i l liability and equity instrument

Recognition of off-balance sheet instruments including executory contracts Different accounting treating for hedging and trading instruments

Separation of embedded derivatives

Perbandingan Pengaturan - Transaksi

PSAK 50 (1998):
Investor Investasi dalam efek tertentu Efek utang Efek ekuitas

PSAK 50 (Rev. 2010):

Penerbit efek Penyajian Kewajiban keuangan dan Ekuitas saling hapus aset keuangan dengan kewajiban keuangan Revisi 2010 Puttable instrument

PSAK 55 (1999):
Investor Intrumen derivatif dan transaksi lindung nilai.

PSAK 55 (Rev.2006):
Investor/pemilik hak tagih Pengakuan dan pengukuran Instrumen keuangan
Aset keuangan Kewajiban keuangan e aj ba eua ga

Aspek Perlakuan Akuntansi:

Pengakuan, Pengukuran, Penyajian dan Pengungkapan

Instrumen derivatif Akuntansi lindung nilai

PSAK 60 (Rev.2010):
Pengungkapan i t P k instrumen keuangan
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Perbedaan Pengaturan
Ruang lingkup Pengakuan Kategori instrumen keuangan
Fair value option al e

Reklasifikasi Penurunan nilai Penghentian pengakuan

PSAK 50 R

Instrumen Keuangan Penyajian

Skop meliputi seluruh tipe instrumen keuangan Definisi detail atas instrumen keuangan : aset keuangan, liabilitas keuangan dan instrumen ekuitas k it Instrumen ekuitas adalah kontrak yang memberikan k b ik kepada pemegangnya h k residu d hak id atas aset entitas setelah dikurangi dengan semua liabilitas Alokasi nilai buku instrumen keuangan untuk komponen ekuitas dan utang Nilai utang utang. ditetapkan terlebih dahulu
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PSAK 50 R

Instrumen Keuangan Penyajian

Pembelian saham diperoleh kembali (treasury stock) dicatat sebagai perubahan atas ekuitas sehingga tidak ada keuntungan/kerugian yang diakui Termasuk dalam definisi aset dan liabilitas keuangan adalah kontrak yang diselesaikan dengan instrumen ekuitas suatu entitas. Aset dan liabilitas keuangan diakui ketika entitas mengambil bagian dalam suatu kontrak provisi atas suatu instrumen
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PSAK 50 R (2010)

Instrumen Keuangan Penyajian

Semua ketentuan tentang pengungkapan dipindahkan ke PSAK 60 (IFRS 7) Tambahan pengaturan khusus tentang :
p puttable instrument , kewajiban untuk menyerahkan bagian aset neto j y g secara prorata saat likuidasi, dan rights, opsi, waran dikategorikan dan disajikan sebagai liabilitas keuangan, akan tetapi dapat dikategorikan sebagai instrumen ekuitas jika memenuhi syarat-syarat tertentu.puttable
instrument

Instrumen yang mempunyai fitur opsi jual (puttable instrument) adalah instrumen keuangan yang memberikan hak kepada pemegangnya untuk menjual kembali instrumen kepada p j p penerbit dan memperoleh kas atau p aset keuangan lain atau secara otomatis menjual kembali kepada penerbit pada saat terjadinya suatu peristiwa yang tidak pasti di masa yang akan datang atau kematian atau purna karya dari pemegang instrumen.

PSAK 55 R Instrumen keungan pengakuan dan Pengukuran

Instrumen keuangan diukur pada pengakuan awal sebesar nilai wajar ditambah dengan biaya transaksi kecuali untuk instrumen yang diukur dengan menggunakan nilai wajar. Penghapusan (dererecognition) aset keuangan didasarkan atas kombinasi risk and reward dan pendekatan pengendalian. Evaluasi atas risk and reward diakukan sebelum evaluasi atas transfer pengendalian Pengakuan gain/loss atas penghapusan (extinguishment) liabilitas keuangan ketika utang baru diterbitkan memiliki persyaratan (term) yang berbeda dengan utang lama. Restrukturisasi utang yang menyebabkan modifikasi p g gain/loss p pada saat substansial term dapat menghasilkan g penerbitan liabilitas baru.
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PSAK 55 R Instrumen keungan pengakuan dan Pengukuran

Empat kategori aset keuangan:
1. 2. 3. 4. Aset keuangan yang ditetapkan untuk diukur pada nilai wajar g y g p p j melalui laporan laba rugi; Investasi dimiliki hingga jatuh tempo; Pinjaman yang diberikan atau piutang; dan Aset keuangan tersedia untuk dijual.

Dua kategori liabilitas keuangan

1) Kewajiban keuangan yang diukur pada nilai wajar melalui laporan laba rugi 2) Kewajiban lain

Pengukuran aset keuangan dengan menggunakan nilai wajar dalam arti luas Beberapa perbedaan dalam praktik dalam mengidentifikasi derivatif majemuk.
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PSAK 55 R Instrumen keungan pengakuan dan Pengukuran

Harga pasar atas aset yang dimiliki atau liabilitas yang akan dit bitk adalah h k diterbitkan d l h harga penawaran(bid price) d (bid i ) dan untuk aset yang akan dibeli atau liabilitas yang dimiliki adalah harga permintaan (asking price). Pengukuran instrumen keuangan sebesar nilai amortisasi, premium dan diskon dimartisasi dengan menggunakan effective interest rate rate. Aturan tainting atas held to maturity investment, pembatasan selama 2 tahun tidak boleh melakukan transfer antar kategori investasi.

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PSAK 55 R Instrumen keungan pengakuan dan Pengukuran

Bukti obyektif atas penurunan nilai aset keuangan dan penilaiannya dilakukan setiap tanggal laporan keuangan. Penilaian penurunan nilai dilakukan secara individu dan kolektif k l k if Pembalikan atas penurunan atas piutang, investasi HTM dan AFS instrumen utang dapat dilakukan jika memenuhi kriteria. Reklasifikasi menjadi atau keluar dari FVPL dilarang f yang didesain untuk tujuan hedging

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PSAK 60

Instrumen Keuangan Pengungkapan

Secara lebih tegas mensyaratkan Entitas harus untuk mengungkapkan informasi yang memungkinkan pengguna laporan keuangan untuk mengevaluasi signifikansi instrumen keuangan terhadap posisi dan kinerja keuangan. Pengungkapan hirarki nilai wajar Tingkat 1 harga kuotasi pasar Tingkat 2 Input selain harga kuotasian (dapat diobservasi) Tingkat 3 Input yang bukan berdasar harga pasar Jenis dan tingkat risiko yang timbul dari instrumen keuangan Pengungkapak kualitatif (ekposure timbulnya risiko, tujuan, kebijak dan proses penelolaan risiko) Pengungkapan kuantatif (risiko kredit, risiko likuiditas, analisa sensitivitas)
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Klasifikasi Instrumen Keuangan

Definisi Instrumen Keuangan setiap kontrak yang menambah nilai aset keuangan entitas dan kewajiban keuangan atau instrumen ekuitas entitas lain
Aset Keuangan Kas Instrumen ekuitas entitas lain Hak kontraktual Kontrak diselesaikan dengan instrumen ekuitas entitas

Liabilitas keuangan Kewajiban kontraktual j Ekuitas Kontrak yang memberikan hak residual atas aset suatu entitas setelah ikurangi dengan seluruh kewajibannya
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kontrak yang diselesaikan dengan instrumen ekuitas entitas

Instrumen Keuangan
setiap kontrak yang menambah nilai:
aset keuangan entitas , dan (disisi lain) g ( ) kewajiban keuangan atau instrumen ekuitas entitas lain.
Aset Keuangan
Kas Instrumen ekuitas yang diterbitkan entitas lain Hak kontraktual: untuk menerima kas atau aset keuangan lainnya dari entitas lain; atau untuk mempertukarkan aset keuangan dengan entitas lain dengan kondisi berpotensi untung; atau Kontrak yang akan diselesaikan dengan penerbitan instrumen ekuitas entitas nonderivatif derivatif

Kewajiban Keuangan
Kewajiban kontraktual: untuk menyerahkan kas atau aset keuangan lain kepada entitas lain; atau untuk mempertukarkan aset keuangan atau kewajiban keuangan dengan entitas l i d tit lain dengan k di i yang kondisi berpotensi tidak menguntungkan entitas; kontrak yang akan atau mungkin diselesaikan dengan menggunakan g gg instrumen ekuitas yang diterbitkan entitas dan merupakan suatu: non derivatif; atau derivatif

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Ruang Lingkup
PSAK 50 & 55
Investasi Efek Utang dan Efek Ekuitas Kredit dan tagihan Utang Kas dan Setara Kas Derivatif Derivatif yang ditukarkan dengan kas atau aset keuangan lain atau instrumen ekuitas entitas Kotrak komoditi yang digunakan sendiri Jaminan keuangan Ekuitas

PSAK 50

DiluarPSAK 50 & 5
Investasi di anak perusahaan, perusahaan asosiasi, ventura Piutan sewa Utang sewa, Utang Pajak dan Manfaat K M f t Karyawan

Derivatif pada anak perusahaan, asosiasi d ventura i i dan Derivatif melekat Komitmen pinjaman yang tersedia untuk dijual Komitmen pinjaman lainnya Kontrak asuransi
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Jenis Instrumen Keuangan

Instrumen Keuangan
Aset Keuangan
Aset Keuangan yang diukur p pada nilai wajar j melalui laporan laba rugi Investas dimiliki hingga j gg jatuh tempo Pinjaman diberikan dan Piutang Aset keuangan tersedia untuk dijual

Liabilitas Keuangan
Liabilitas Keuangan yang diukur pada nilai wajar melalui laporan laba rugi Kewajiban Lainnya

Instrumen Ekuitas

Instrumen Derivatif
Derivatif Biasa

Instrumen Lindung Nilai

Atas Nilai Wajar

Instrumen Ekuitas Biasa

Instrumen Ekuitas Majemuk j

Derivatif Melekat

Atas Arus Kas Atas Investasi Neto pada Operasi Luar Negeri

Instrumen Ekuitas Sinstesis

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Kategori Aset Keuangan

Pinjaman atau Piutang NO Bentuk Investasi dlm Utang YES YES Keinginan memegang YES Held to maturity NO Tujuan Spekulatif NO Available for Sale Trading YES

Diukur dg Nilai Wajar No

YES

Nilai Wajar Nilai Beli

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Aset/Kewajiban Keuangan yang Diukur pada Nilai Wajar melalui Laporan Laba Rugi

Diperdagangkan: p g g
Diperoleh/dimiliki untuk tujuan dijual/dibeli kembali dalam waktu dekat (trading); Bagian dari portofolio instrumen keuangan tertentu yang memiliki pola ambil untung dalam jangka pendek; atau merupakan derivatif (kecuali derivatif yang ditetapkan sebagai instrumen lindung nilai dan efektif).

Ditetapkan untuk dinilai pada Nilai Wajar melalui Laporan L b R i L Laba Rugi

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Investasi Dimiliki hingga Jatuh Tempo

Kriteria: Aset keuangan non derivatif; Pembayaran P b tetap/telah ditentukan; Jatuh tempo telah ditetapkan; Entitas memiliki maksud dan kemampuan untuk memiliki hingga jatuh tempo

Kecuali: ditetapkan sbg aset dit t k b t keu pada nilai wajar melalui L/R; ditetapkan sbg AFS; memenuhi definisi pinjaman yang diberikan dan piutang.

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Pinjaman Diberikan dan Piutang

Kecuali:

Kriteria: Aset keuangan non derivatif; Pembayaran tetap/telah ditentukan; / l h di k tidak mempunyai kuotasi di pasar aktif,

dimaksudkan utk dijual dlm waktu dekat (trading); ditetapkan sbg aset keu pada nilai wajar mel L/R; diklasifikasikan sbg AFS; g ; pinjaman yang diberikan/ piutang yg investasi awalnya tdk akan diperoleh kembali scr substansial (kecuali krn penurunan kualitas), shg hrs diklasifikasikan sbg AFS.

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Aset Keuangan Tersedia untuk Dijual

Kriteria: Kriteria: Aset keuangan non derivatif; Ditetapkan sebagai AFS; AFS; Tidak diklasifikasikan sbg: sbg: pinjaman yang diberikan/piutang, diberikan/piutang, dimiliki hingga jatuh tempo, atau dinilai pada nilai wajar melalui L/R. p j /
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Saling Hapus
Aset keuangan dan liabilitas keuangan saling hapus dan nilai netonya disajikan dalam laporan posisi keuangan jika, dan hanya jika, entitas:
saat ini memiliki hak yang dapat dipaksakan secara hukum untuk melakukan saling hapus atas jumlah yang t l h di k i tersebut; dan l k k li h t j l h telah diakui t b t d berniat untuk menyelesaikan secara neto atau untuk merealisasikan aset dan menyelesaikan liabilitasnya secara simultan.

Dalam akuntansi untuk transfer atas aset keuangan yang tidak memenuhi kualifikasi penghentian pengakuan, maka entitas tidak boleh melakukan saling hapus aset keuangan y g yang ditransfer dan liabilitas terkait

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Ilustration
In 2007 an entity enters into a contract that requires it to issue shares to the value of CU10,000 on 1 January 2010. This is a financial liability since the entity is y y required to settle the contract by issuing a variable number of shares based on a fixed monetary amount.

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Review
In accordance with IAS32 Financial instruments: presentation, which ONE of the following types of instrument is best described as a contract that evidences a residual interest in the assets of an entity after deducting the liabilities? A Financial liability B Guarantee C Equity. D Financial asset

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Review
In accordance with IAS32 Financial instruments: presentation, which ONE of the following types of instrument is best described as a contract that evidences a residual interest in the assets of an entity after deducting the liabilities? A Financial liability B Guarantee C Equity. D Financial asset

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Review
The Stone Company has an account receivable from The Knowles Company of CU55,000. Stone also has an account payable to Knowles of CU15,000. Local law allows the enforceable right of set-off of the recognised amounts. It is not normal business practice to settle the amounts net. What amount for accounts receivable and accounts payable should be presented in Stone's statement of financial position, according to IAS32 Financial instruments: presentation? Accounts receivable Accounts payable A CU55,000 , CU15,000 , B CU40,000 Nil C CU55,000 Nil D Nil CU15,000 CU15 000
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Transfer / Reklasifikasi
HTM

Allowed when justified change intention or eng of tainting period Allowed under conditions TAINTING RULE

No transfer into or out of trading

FVTPL

AFS

Reclassification among Sub-categories

IAS 39 impose strict rules on reclassification of financial assets
Prevent earning management through selective recognition or non nonrecognition of gains or loss by reclassification

Reclassification of financial asset

From HTM AFS To Reason Change in intention or ability to hold Re-demonstrated positive intent and ability to hold; Rare situation where reliable measure of fair value is no longer available Not allowed Not allowed Not allowed 1. 2. 1. 2. 3. Accounting treatment Asset is remeasured at fair value Difference between carrying amount and fair q y value taken to equity Fair value carrying amount on that date becomes new amortized cost Previous gain/loss in equity amortized to income statement over remaining life using effective interest method Difference between new amortized cost and maturity amount amortized using effective interest method

AFS

HTM

Loan FVTPL HTM or AFS

HTM or AFS S HTM or AFS FVTPL

None None None

Tainting
Entitas tidak boleh mengklasifikasikan aset keuangan g g sebagai investasi dimiliki hingga jatuh tempo, jika dalam tahun berjalan atau dalam kurun waktu dua tahun sebelumnya, sebelumnya telah menjual atau mereklasifikasi investasi dimiliki hingga jatuh tempo dalam jumlah yang lebih dari jumlah yang tidak signifikan (more than insignificant) sebelum jatuh tempo f )

Tainting
Kecuali penjualan atau reklasifikasi tersebut dilakukan: p j Mendekati jatuh tempo atau tanggal pembelian kembali (contohnya, kurang dari tiga bulan sebelum jatuh tempo) j t ht ) Setelah entitas telah memperoleh secara substansial seluruh jumlah pokok aset keuangan tersebut sesuai jadwal pembayaran atau entitas telah memperoleh pelunasan dipercepat; atau (Terkait dengan k j di t t t yang b d di l (T k it d kejadian tertentu berada luar kendali entitas, tidak berulang, dan tidak dapat diantisipasi secara wajar oleh entitas. p j

Pengukuran Awal
Aset dan Kewajiban Keuangan

Diukur pada nilai wajar melalui laba rugi Nilai wajar

Tidak diukur pada nilai wajar melalui laba rugi Nilai wajar ditambah
Biaya Transaksi

(biaya transaksi expense)

(biaya transaksi dikapitalisasi)

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Nilai Wajar

Nilai Nil i di mana suatu aset d dapat di dipertukarkan atau k k suatu kewajiban diselesaikan antara pihak yang memahami dan berkeinginan untuk melakukan g transaksi wajar (arms length transaction)
Bukan nilai yang akan diterima atau dibayarkan entitas dalam suatu transaksi yang dipaksakan, likuidasi yang dipaksakan, atau penjualan akibat kesulitan keuangan.

Pengukuran Nilai Wajar

Hirarki Penentuan Nilai Wajar*

Kuotasi harga di pasar aktif; Jika pasar tidak aktif, maka menggunakan teknik penilaian yang meliputi:
penggunaan transaksi-transaksi pasar wajar yang terkini antara pihak-pihak yang mengerti, berkeinginan, berkeinginan jika tersedia; referensi atas nilai wajar terkini dari instrumen lain yang secara substansial sama; analisis arus kas yang didiskonto (discounted cash flow analysis); dan model penetapan h d l t harga opsi ( ti pricing model) i (option i i d l)

Measurement - at initial recognition

Case Study 1: Interest-free long-term loan to employees Bank grants IDR50 million interest free loan to an interest-free employee who has reached 5 years employment payable at end of 5th year. Normal interest rate for 5 year loan to individual is 10.8%. Assuming the present value of IDR50 million over 5 years with monthly repayment at 10 8% interest rate is IDR30 10.8% million. Question: What is the initial measurement amount of the loan?

Measurement - at initial recognition

Case Study 2: Off-market loan with origination fee Bank lends US$1,000 to ABC Company repayable in full US$1 000 at end of 5th year Interest at 5% payable annually p y y Market rate of similar loan is 8% ABC Company pays the Bank credit facility fee of US$120 Present value at discount rate of 8% of US$1,000 payable in full at end of 5th year plus 5% interest payable annually is equal to US$880 Question: At what amount shall the Bank record the loan at initial recognition - US$1,000 or US$880? $ $

Ilustrasi
An entity issues 100,000 new CU1 ordinary shares which have a fair value of CU2 50 per share. l f CU2.50 h Professional fees in respect of the share issue are CU50,000. The costs are deductible in arriving at the entitys income tax liability. The rate of tax is 40%. The management of the entity estimates that costs t f t i 40% Th t f th tit ti t th t t incurred internally for time incurred working on the share issue are CU25,000. The internal costs sho ld be recognised in profit or loss for the should period. The professional fees are directly attributable to the transaction and CU30,000 should be deducted from equity (CU50,000 (CU50 000 net of 40% tax). tax) Equity will increase by CU220,000 ((100,000 x CU2.50) - CU30,000).

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Review
The Grovemet Company acquired a financial asset at its market value of CU32 B k l f CU32. Brokers f fees of CU2 were incurred in relation t th f i di l ti to the purchase. In accordance with IAS39 Financial instruments: recognition and measurement at what amount should the financial asset i iti ll b t t h t t h ld th fi i l t initially be recognised if it is classified as at fair value through profit or loss, or as available for sale? At fair value thro gh al e through Available A ailable profit or loss for sale A CU34 CU32 B CU32 CU32 C CU32 CU34 D CU34 CU34
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Review
The Polar Company issued 200 new CU1 ordinary shares at a fair value of CU1 80 each. Polar identified the following costs i relation l f CU1.80 h P l id tifi d th f ll i t in l ti to the shareissue:
(1) Professional fees of CU40. (2) Internal management time in managing the process of CU30 CU30.

These costs are deductible in arriving at the entity's income tax liability. The current rate of tax is 30%. In accordance with IAS32 Financial instruments: presentation the presentation, increase in equity in the statement of financial position of Polar as a result of the transaction will be A CU360 B CU332 C CU311 D CU320
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Pengukuran Setelah Pengakuan Awal

a) Nilai wajar b) Biaya diamortisasi c) Biaya (penggunaan terbatas hanya jika aya (pe ggu aa te batas a ya j a nilai wajar tidak dapat ditentukan)
PSAK 55 mengklasifikasikan: 4 kategori aset keuangan 2k t kategori k i kewajiban k jib keuangan Kategori tersebut menentukan metode yang digunakan untuk pengukuran selanjutnya
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Biaya Amortisasi

Jumlah saat pengukuran awal

PLUS OR MINUS MINUS MINUS

Penurunan Nilai Akumulasi amortisasi dg effectiv interest method Pembayaran

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Suku bunga efektif

Suku bunga y g menyamakan antara nilai awal aset g yang y dengan nilai kini dari pembayaran yang diterima di masa mendatang. Nilai Nil i awal aset k l t keuangan t termasuk bi k biaya t transaksi k i dan biaya lain terkait dengan perolehan/penerbitan aset/liabilitas keuangan Suku bunga efektif tidak selalu sama dengan suku bunga yang ditetapkan. Suku bunga efektif di S k b f ktif digunakan untuk mengitung k t k it amortisasi premium atau diskon

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Measurement - amortised cost (continued)

The effective i t Th ff ti interest rate i th rate th t exactly t t is the t that tl discounts: Estimated future cash payments or receipts over the expected life of the instrument or, when appropriate, a shorter period, to the instrument s instruments net carrying amount amount. Should include all fees, transaction costs, p premiums or discounts p paid or received between contracting parties to the extent they are an integral part of the effective interest rate.

Measurement - amortised cost

Example 1: Fixed-stepped interest rates Company issued 5-year US$1 000 000 bond with net proceeds of 5 year US$1,000,000 US$1,000,000 (including transaction costs). Bond pays interest at each anniversary date at 5% for the first 2 d years; then 7% for the 3rd & 4th year; and 8% for the 5th year. Company may prepay at the end of 4th year at amortised cost with no significant penalty. Company expects to redeem the bond after 4 years since market interest rate is expected to decline in long term. What is the effective yield? What will be the interest expense to be recognized in the profit & loss for each year?

Measurement - amortised cost

Example 1: Fixed -stepped interest rates (continued)
Effective Yield 5.94235%
Year Amortised cost at start of year Cash flows Amortization of interest expense Amortised cost at end of year

1
1,000,000 (50,000) (50,000) (70,000) (1,070,000) 59,424 59,983 60,577 60,017 1,009,424 1,019,407 1,009,984 0

2 3 4

1,009,424 1,019,407 1,009,984

Measurement - amortised cost

Example 2: Fixed interest rate with discount Company purchased bond with 5 years maturity for US$950 plus US$50 transaction costs on Dec. 31, 2007. Principal amount of bond is US$1,250 p , Bond has fixed interest of 4.7% payable annually (US$1,250 x 4.7% = US$59 a year) What is the effective yield? What will be the interest income to be recognized in the profit & loss for each year?

Measurement - amortised cost

Example 2: Fixed interest rate with discount (continued) Effective Yield 10%
Year Amortised cost at start of year Amortization of interest income Cash flows Amortised cost at end of year

2008 2009 2010 2011 2012

1,000 1,041 1 041 1,086 1,136 1,190

100 104 109 113

(59) (59) (59) (59)

1,041 1,086 1 086 1,136 1,190 0

119 (1,250) + (59)

Measurement - amortised cost

Floating rate debt instruments
Periodic re estimation of cash flows to reflect movements in re-estimation market interest rates does alter the effective interest rate. If a floating rate financial asset or liability is recognized initially at an amount equal to the principal receivable or payable on maturity, re-estimating the future interest payments normally has no significant effect on the carrying amount of the asset or liability. Amortization of discount or premium:
if it results from change in credit spread or other variables that are not reset to market rates, it is amortised over the expected life of instrument; if it reflects interest that has accrued since interest last paid, or changes in market rates since the floating rate was reset, it will be amortised to the next date when interest rate is reset to market rates.

Pengukuran Selanjutnya
Biaya Transaksi Keuntunga Bunga n atau dan Kerugian Dividen Nilai Wajar Penurunan Pembalikan Nilai Penurunan Nilai By default Laba rugi g

Klasifikasi

Neraca

FVTPL HTM

Nilai wajar Dibebankan Laba atau Laba atau By default rugi rugi y Dikapitalisasi p Biaya Diamortisasi Biaya Dikapitalisasi diamortisasi Laba rugi g Laba rugi g

Pinjaman Diberikan dan Piutang

Laba r gi rugi

Laba r gi rugi

Laba r gi rugi

Pengukuran Selanjutnya
Laporan Keuntungan Jenis / Biaya Posisi atau Transaksi Keuangan Kerugian Nilai Wajar
Utang/ Dikapitalisasi Ekuitas/ Dikapitalisasi AFS Ekuitas: Ek i Tidak dapat diukur secara andal/ Dikapitalisasi Harga H perolehan Nilai wajar

Klasifikasi

Bunga dan Dividen

Penurunan Pemulihan Nilai Penurunan Nilai

Laba Rugi Laba Rugi

Pendapatan Laba Rugi komprehensif lain* Pendapatan Laba Rugi komprehensif lain* Laba Rugi L b R i

Nilai wajar

Laba Rugi

Pendapatan komprehensif lain -

Laba Rugi L b R i

* Dibebankan ke laba rugi saat pelepasan atau terjadi penurunan nilai

Initial recognition and subsequent measurement

Category FVTPL Initial recognition Cost Subsequent measurement Fair value 1. 2. 1. 1 Treatment of changes in carrying amount Change in fair value to income statement. Interest income recognized using effective interest method Amortized interest impairment loss and foreign interest, exchange gain/ loss goes to income statement Amortized interest, impairment loss and foreign exchange gain/ loss goes to income statement

HTM

Cost

Amortized cost using effective interest method Amortized cost using effective interest method Fair value

Loans and Receivables

Cost

1.

AFS

Cost

1. 2. 3. 4.

Change in fair value taken to equity Interest income recognized using effective interest method Debt instrument impairment loss and foreign exchange gain/loss goes to income statement Hedged item change in fair value attributable to hedged risk taken to income statement to offset gain/loss on hedging instrument 53

Ilustrasi
An entity classifies as available-for-sale a financial asset with a fair value on initial recognition of CU150 At 31 CU150. December 2006 the cumulative gains recognised in respect of this asset in other comprehensive income are CU50. CU50 On 31 December 2007 the entity disposes of the asset for CU320. Profit or loss for the year will include:
Gain on sale of available-for-sale investments CU120 (CU320 proceeds CU200 carrying amount (CU150 + CU50)) Reclassified to profit or loss CU50 (recognised in other comprehensive income for the year ended 31 December 2006)

54

Review
Are the following statements concerning the measurement of financial instruments after initial recognition true or false, according to IAS39 Financial instruments: recognition and measurement? (1) Held-for-trading financial assets are measured at amortised cost. ( ) (2) Held-to-maturity investments are measured at fair value. y Statement (1) Statement (2) A False False B False True C True False D True True

55

Review
The Redmires Company acquired an equity investment a number of years ago for CU300 and classified it as available for sale. At 31 December 20X5 the cumulative loss recognised in other comprehensive income was CU40 and the carrying amount of the investment was CU260. At 31 December 20X6 the issuer of the equity was in severe financial difficulty and the fair value of the equity investment had fallen to CU120. In accordance with IAS39 Financial instruments, recognition and measurement, what amount should be recognised in profit or loss in the yearended 31 December 20X6? A CU140 B CU180 C CU100 D Nil
56

Share Repurchase
Listed company buy back their own share to
Provide support for share price Market signal of undervaluation Improve earnings per share

Classified as treasury shares

Pool of repurchased shares

Accounting treatment
Deduct treasury shares from total shareholders equity No gain or loss recorded on repurchase

57

Journal Entries Pertaining to Share Repurchase

Initial repurchase of treasury shares

Dr Cr Treasury shares .. Cash . XX,XXX XX,XXX

Repurchase of treasury shares p y Equity section after repurchase Issued share capital ... Retained R t i d earnings .. i Total shareholders equity .. Less cost of treasury shares . Total shareholders equity $XX,XXX,XX X,XXX,XXX X XXX XXX $XX,XXX,XX (XX,XXX) $XX,XXX,XX XX,XXX XX XXX XX,XXX

Cancellation of treasury shares

Dr Cr Issued share capital capital.. Treasury shares.

Cancellation of treasury shares

Ketentuan Umum Penurunan Nilai

Aset keuangan atau kelompok aset keuangan mengalami penurunan nilai apabila:
Nilai tercatat/biaya perolehan diamortisasi > Nilai yang dapat diperoleh kembali Evaluasi atas apakah terdapat bukti objektif penurunan nilai harus dilakukan pada setiap tanggal neraca

Bila terdapat bukti objektif penurunan nilai, maka harus dilakukan estimasi nilai yang dapat diperoleh kembali dan mengakui kerugian penurunan nilai

Bukti Objektif Penurunan Nilai

Entitas harus melakukan evaluasi apakah terdapat bukti p p objektif penurunan nilai pada setiap tanggal neraca. Bukti Objektif antara lain:
Kesulitan keuangan signifikan yang dialami penerbit atau peminjam; Pelanggaran kontrak, seperti terjadinya wanprestasi atau tunggakan pembayaran pokok atau bunga; Restrukturisasi atau keringanan (konsesi) akibat pihak peminjam mengalami kesulitan; Peminjam akan dinyatakan pailit atau melakukan reorganisasi keuangan lainnya; Hilangnya pasar aktif dari aset keuangan akibat kesulitan keuangan; atau Kemungkinan besar bangkrut

Bukti Objektif Penurunan Nilai

Penurunan yang dapat diukur atas estimasi arus kas masa datang y g p g dari kelompok aset keuangan sejak pengakuan awal aset dimaksud, meskipun penurunannya belum dapat diidentifikasi terhadap aset keuangan secara individual dalam kelompok aset tersebut, termasuk:
memburuknya status pembayaran pihak peminjam dalam kelompok tertentu (misalnya meningkatnya tunggakan pembayaran atau meningkatnya jumlah pihak peminjam kartu kredit yang mencapai batas kreditnya dan hanya mampu membayar cicilan bulanan minimal); atau kondisi ekonomi nasional atau lokal yang berkorelasi dengan wanprestasi atas aset dalam kelompok tersebut (misalnya bertambahnya tingkat pengangguran di area geografis pihak peminjam turunnya harga komoditas atau memburuknya peminjam, komoditas, kondisi industri).

Penurunan Nilai Aset Keuangan yang Dicatat Berdasarkan Biaya Perolehan Diamortisasi
Meliputi investasi dalam kelompok dimiliki hingga jatuh tempo p p gg j p serta pinjaman yang diberikan dan piutang

Aset Individual yang Signifikan:

Pertama kali harus dinilai secara individu Jika tidak ada bukti penurunan nilai saat penilaian individu-harus dinilai dalam kelompok yang sama karakteristik risiko kreditnya

Penilaian Kelompok:
Untuk aset-aset yang secara individu tidak signifikan dan asetaset lain Tidak dapat dievaluasi secara individual

Penurunan Nilai Kolektif Aset Keuangan yang Dicatat Berdasarkan Biaya Perolehan Diamortisasi

Penurunan nilai kolektif aset keuangan yang dicatat berdasarkan biaya perolehan diamortisasi meliputi: 1. Kelompok aset keuangan sejenis yang tidak signifikan secara individual; dan 2. Aset keuangan yang signifikan secara individual yang tidak mengalami penurunan nilai b d il i berdasarkan evaluasi secara i di id l k l i individual;

Penurunan Nilai Kolektif Aset Keuangan Biaya Perolehan Diamortisasi Jumlah kerugian diukur sebagai selisih antara nilai tercatat aset dengan nilai kini estimasi arus kas masa depan yang didiskonto menggunakan suku bunga efektif awal dari aset tersebut Nilai tercatat aset tersebut dikurangi, baik secara langsung maupun menggunakan pos cadangan. Jumlah kerugian yang terjadi di k i pada J l hk i j di diakui d laporan laba rugi.

Penurunan Nilai Kolektif Aset Keuangan Biaya Perolehan Diamortisasi

Jika, pada periode berikutnya, jumlah kerugian ,p p y ,j g penurunan nilai berkurang, maka kerugian penurunan nilai yang sebelumnya diakui harus dipulihkan. Pemulihan t P lih tersebut tid k b l h mengakibatkan nilai b t tidak boleh kib tk il i tercatat aset keuangan melebihi biaya perolehan diamortisasi sebelum adanya pengakuan penurunan nilai pada tanggal pemulihan dilakukan. Jumlah pemulihan aset keuangan diakui pada laporan laba rugi rugi.

Penurunan Nilai Aset Keuangan yang Dicatat pada Biaya Perolehan

Jumlah kerugian penurunan nilai diukur berdasarkan g p selisih antara nilai tercatat aset keuangan dengan nilai kini dari estimasi arus kas masa depan yang didiskontokan pada tingkat pengembalian yang berlaku di pasar untuk aset keuangan serupa Kerugian penurunan nilai tersebut tidak dapat dipulihkan.

Penurunan Nilai Aset Keuangan yang Tersedia untuk Dijual

Ketika penurunan nilai wajar atas aset keuangan yang diklasikasikan dalam kelompok tersedia untuk dijual telah diakui secara langsung dalam ekuitas dan terdapat bukti objektif bahwa aset tersebut mengalami penurunan nilai, maka kerugian kumulatif yang sebelumnya di k i secara l b l diakui langsung d l dalam ekuitas h k it harus dikeluarkan dari ekuitas dan diakui pada laporan laba rugi Kerugian penurunan nilai yang diakui pada laporan laba rugi atas investasi i t i t i instrumen ekuitas yang dikl ik ik sebagai i t k it diklasikasikan b i instrumen ekuitas yang tersedia untuk dijual tidak boleh dipulihkan melalui laporan laba rugi. Jika, Jik pada periode b ik t d i d berikutnya, nilai wajar i t il i j instrumen utang yang t diklasikasikan dalam kelompok tersedia untuk dijual meningkat, maka kerugian penurunan nilai tersebut harus dipulihkan melalui laporan laba rugi rugi.

Impairment of Financial Assets

Requirements for impairment testing under IAS 39
Required for all financial instruments except those measured at fair value Only when there is objective evidence as a result of loss event(s)

Example of loss event(s) include:

Issuer encounters significant financial difficulties; Default of payments Lender has to grant special concession to the borrower Borrower faces probable bankruptcy Disappearance of an active market Objective evidence on a decrease of estimated cash flows of the issuer

Accounting t t A ti treatment depends on how fi td d h financial asset i measured i l t is d

68

Impairment of Financial Assets Measured at Amortized Cost M d tA ti d C t

Procedures for assessing impairment (IAS 39: 63-65) 63 65)
Test for impairment for Financial Assets Individually Significant Individually Fail Pass Collectively tested with similar credit risk
69

Not Individually Significant Individually Fail Pass Collectively

Impairment of Financial Assets Measured at Cost

Example
Unquoted equity instruments Derivatives linked to unquoted equity instruments Carrying amount PV of estimated future cash flows

Impairment loss

Impairment loss cannot be reversed

70

Impairment of AFS Financial Assets

Changes in fair value of AFS taken to equity Decline in fair value must be determined Objective evidence of impairment Cumulative loss in equity transferred to income statement Debt instrument: Reversible Equity instrument: Non reversible
71

Decline in fair value Previous impairment loss

Acquisition Current fair cost value

Impairment of Amortized Costs Assets Example

At January 1, 2006, XYZ Coy lends $5,000,000 to Company A. The effective interest rate on the loan is 8%. As at December 31, 2006, XYZ Coy expects that Company A will not be able to repay all amounts due. A comparison of the original contractual cash flows and estimated expected cash flows follows:

Impairment of Amortized Costs Assets Example

Year Original Contractual C l Cash flow (5,000,000) 1,650,000 1,550,000 1,450,000 1,350,000 6,000,000 8.0% Expected Cash Flow C h Fl (5,000,000) 250,000 2,100,000 3,000,000 5,350,000 1.9% Impairment Calculation C l l i ( , 3,390) (4,413,390) 250,000 2,100,000 3,000,000 5,350,000 8%

2006 2007 2008 2009 EIR

Impairment of Amortized Costs Assets Example

Year Accrued Interest Cash Received Loan Balance 5,000,000 353,071 353 071 361,317 222,222 250,000 250 000 2,100,000 3,000,000 5,350,000 5,103,071 5 103 071 3,364,388 586,610 Valuation Allowance (586,610) (586,610) (586 610) (586,610) (586,610) Net Carrying Amount 4,413,390 4,516,461 4 516 461 2,777,778 -

2006 2007 2008 2009

Impairment of Amortized Costs Assets Example

Interest income recognition assuming the use of interest method Journal: 2006 Dr. Provision for doubtful debtors 586.610 Cr. Allowance for doubtful debtors 2007 Dr Loan Dr. Cr. Interest income Dr. Cash d Bank D C h and B k Cr. Loan 353.071 353 071 (353.071) 250.000 250 000 (250.000)

(586.610)

Penghentian Pengakuan Aset Keuangan

Entitas menghentikan pengakuan aset keuangan, jika dan g g g j hanya jika: (a) hak kontraktual atas arus kas yang berasal dari aset keuangan tersebut berakhir; atau (b) entitas mentransfer aset keuangan yang memenuhi kriteria penghentian pengakuan p g p g

Penghentian Pengakuan Aset Keuangan

1. Consolidate subsidiaries (including SPEs) 2. Do derecognition principles apply to part or all of assets? 3. Have the rights to cash flows expired? g
No Yes

Derecognise g

4. Has entity transferred its right to receive cash flows?

No Yes

Has entity assumed obligation y g to pass through cash flows?

Yes

No

Don t Dont derecognise Derecognise Dont derecognise Derecognise

5. Has entity transferred substantially all risks/rewards?

No

Yes Yes No

5. Has entity retained substantially all risks/rewards?

No

6. Has entity retained control of the assets?

Yes

Continue to recognise the assets to extent of continuing involvement

Penghentian Pengakuan Kewajiban Keuangan

Entitas mengeluarkan kewajiban keuangan (atau bagian dari kewajiban keuangan) dari neracanya, jika dan hanya jika,
Kewajiban keuangan tersebut berakhir, yaitu ketika kewajiban yang ditetapkan dalam kontrak dilepaskan atau dibatalkan atau kadaluwarsa kadaluwarsa.

Penghentian Pengakuan Kewajiban Keuangan

Pertukaran di antara peminjam dan pemberi pinjaman p j p p j yang saat ini ada atas instrumen utang dengan persyaratan yang berbeda secara substansial dicatat sebagai penghapusan (extinguishment) kewajiban keuangan awal dan pengakuan kewajiban keuangan baru. Demikian juga, modifikasi secara substansial atas ketentuan kewajiban keuangan yang saat ini ada atau bagian dari kewajiban keuangan tersebut dicatat sebagai penghapusan kewajiban keuangan awal dan pengakuan kewajiban keuangan baru.

Penghentian Pengakuan Kewajiban Keuangan

Syarat syarat Syarat-syarat yang digunakan berbeda secara substansial apabila:

Nilai kini arus kas yang didiskonto berdasarkan syarat-syarat didiskonto menggunakan suku bunga efektif awal, gg g , berbeda sedikitnya 10 persen dari nilai kini sisa arus kas yang didiskonto yang berasal dari kewajiban keuangan semula.

Derecognition of a Financial Asset

Refers to the removal of the financial asset from the balance sheet
In a group, all subsidiaries and special purpose entities are consolidated before derecognition (IAS 39:15)

Conditions for partial derecognition of financial asset (IAS 39:16)

Contains specifically identified cash flows Forms fully proportionate share of cash flows Forms fully proportionate share of specifically identified cash flows

E.g. E g of partial derecognition

interest rate strip from the transfer of interest cash flows while principal cash flows remain with transferor

81

Derecognition of a Financial Asset

Derecognition of financial asset Gain/ (loss) recognized in income statement

Entirety Sum of consideration received less carrying amount less cumulative gain/ loss recognized in equity

Partial Sum of consideration received for part less carrying amount of part less proportionate share of cumulative gain/ loss recognized in equity

82

Derecognition of a Financial Asset

Right to cash flows of the asset has expired

Conditions for derecognition

Transferred right to receive cash flows and substantially all risks and rewards i k d d Retained not substantially some risks and reward, and not retained control t l
83

Derecognition of a Financial Asset

Conditions for derecognition

Right to cash flows of g the asset has expired

Transferred right to receive cash flows and substantially all risks and rewards

Retained not y substantially some risks and reward, and not retained control

84

Derecognition of a Financial Asset

Event A sale, together with an option to sale repurchase at fair value of the asset at the time of repurchase A sale together with a put option held sale, by the buyer or a call option held by a seller that is deeply out-of-the-money Event A sale with an agreement by the seller to repurchase the same asset at a fixed price A sale, together with a put or call option that is deeply in-the-money Why it qualify Seller has transferred substantially all risks and rewards and is not obligated to repurchase the financial asset Seller is unlikely to be exposed to risk associated with changes in the fair value of the financial asset Why it does not qualify There is no transfer of substantial risk and rewards Highly unlikely that the option will become out-of-the-money before expiry and seller is likely to repurchase p y y p the asset
85

Derecognition of a Financial Liability

Only when the borrowers obligation relating to the liability are fully borrower s discharged, cancelled or expired (IAS 39:39) Treatment of financial liability
Replacement of debt instrument should be treated as an extinguishment of original financial liability and the recognition of a new financial liability ( (IAS 39:40) ) Partial derecognition permitted

Gain/ (losses) reported in income statement as with financial asset

86

Instrumen Keuangan Majemuk

Komponen-komponen tersebut harus diklasifikasikan p p secara terpisah sebagai kewajiban keuangan, aset keuangan, atau instrumen ekuitas Nilai tercatat awal suatu i t Nil i t t t l t instrumen k keuangan majemuk j k dialokasikan pada komponen ekuitas dan kewajiban:
Komponen ekuitas yang dialokasikan adalah nilai sisa dari nilai wajar instrumen keuangan secara keseluruhan dikurangi dengan nilai komponen kewajiban yang ditetapkan secara terpisah

Contoh: Obligasi Konversi

Compound Financial Instruments

Definition of compound financial instruments Instruments that have both debt or equity instruments Accounting standards IAS 32 : Accounting from issuers perspective Example of convertible bond Issuers perspective Lower coupon rate leads to lower cash outflow Investors perspective Investor willing to accept lower coupon rate in exchange for the equity option f potential capital gain i i for i l i l i
88

Non-derivative host instrument and embedded derivative

IAS 39: Accounting from investors perspective

Controversies
Main issue: whether the debt and equity component should be separately recognized on balance sheet IAS 32
Requires debt and equity elements to be separated
More relevant information, resulting in the reflection of effective borrowing cost

Total proceeds allocated using incremental method

Fair value of debt instrument calculated from the present value of the cash flow from the instrument Residual (total proceeds FV of debt) allocated to equity component under Capital Reserve Equity option)

89

Illustration : Initial recognition of debt and equity

Scenario Convertible bond issued at par on 1 Jan 20x1 Nominal value of $100,000 Repayable at 31 December 20x3 Annual coupon at 4% per annum Convertible at $1 of bond to 0.75 ordinary shares Effective interest of 10% per annum

90

Illustration : Initial recognition of debt and equity

Debt Component
PV of interest payment (2,000 x PVIFA10%,3) .. PV of principal at maturity (100,000 x PVF10%,3) PV of debt component .. $ 9,947 75,132 $85,079

Note: 1. Discount rate based on effect market interest rate of 10% 2. PVIFA10%,3 is PV of ordinary annuity at 10% for 3 periods 3. 3 PVF10% 3 is the PV of $1 at the end of period 3 at 10% discount 10%,3

91

Illustration : Initial recognition of debt and equity

Equity Component
Value of equity = $100,000 Value of debt component = $100 000 000 - $85 079 $100,000,000 $85,079 = $14,921 Note: 1. Bond issued at discount of $14,921 (equals to value of equity) because bond issue at par 2. Discount of bond = Fair value Nominal value 3. Value of equity = Nominal value Value of debt component

92

Illustration : Initial recognition of debt and equity

Journal entry at date of issue
Dr Dr Cr Cr Cash Unamortized discount on bond (B/S) 4% Bond payable (B/S) p y ( ) Capital reserve Equity option (B/S) 100,000 14,921 100,000 14,921

Record debt and equity components of convertible bond

93

Illustration : Initial recognition of debt and equity

Journal entry at year-end y y
Dr Cr Cr Interest expense 8,508 Unamortized bond discount Cash 4,508 4,000

Record interest expense using effective interest rate method Note: N t 1. Interest expense is based on the effective interest rate of 10%: $85,079 x 0.1 2. Amortization of bond discount is the difference between the effective interest expense and the cash interest p p paid: $8,508 - $4,000 , ,

94

Journal Entries Pertaining to Amortization of Bond

Dr Cr Amortization of discount (I/S) .. Unamortized discount (B/S) XX,XXX XX XXX XX,XXX

Amortization of discount for first half-year Dr Cr Interest expense (I/S) ... Cash (B/S) . XX,XXX XX,XXX

Cash interest paid C hi t t id Or combined as follows Dr Cr Cr Interest expense (I/S) ... Cash (B/S) . Unamortized discount (B/S) XX,XXX XX,XXX XX,XXX

Interest paid for period ended 30 June 20x0

95

Conversion of Bond Before or At Maturity

Occurs: At specific ti ifi time i t intervals t minimize dil ti l to i i i dilution effect Only when there is economic interest The following are recorded when partial conversion occurs: 1. Issue of paid-up shares on conversion, 2. The balance in the discount on the bond adjusted proportionately dj t d ti t l

96

Jurnal Entries Conversion of Bond

Conversion of bond
Dr Dr Cr Cr Bond payable Capital reserve Equity options Ordinary shares Unamortized discount on bond XXX,XXX XX,XXX XXX,XXX XX,XXX XX XXX

Conversion of bond to ordinary shares

97

Effect of the Separation of Debt and Equity Elements in a Compound Financial Instrument

No split accounting g Net income Balance sheet Selected financial ratios Net profit margin Debt-equity ratio Return on equity Times interest earned Higher Higher Higher Higher Net earnings higher Higher carrying amount; lower equity

Split accounting g Net earnings lower Lower carrying amount; higher equity

Lower Lower Lower Lower

98

Allocation of Transaction Costs

Cost incurred in issuing debt instruments, and convertible bonds
Include professional fees, registration fees, stamp duties, and advertising costs Transaction cost on debt Accounted for as yield adjustments to the effective interest rate Transaction cost on equity Accounted for as deduction from equity after deducting any related income tax benefit

99

Allocation of Transaction Costs to Debt and Equity Components

Amount allocated to debt component: = Fair value of debt component Total proceeds of convertible bond x Transaction costs

Amount allocated to equity component: = Value of equity component Total T t l proceeds of convertible b d d f tibl bond x Transaction costs

100

Ilustrasi
An entity issues 3,000 convertible, 10-year bonds at CU100 each, with a nominal interest rate of 5%. The fair value of similar 10 year bonds with no convertible element is CU250,000. The conversion details are 100 shares for each bond to be exercised after 5 years but before the redemption date in 10 years time. At the date of issuance of the financial instrument, the following amounts should be recognised: Proceeds of bond issue (3,000 x CU100) CU300,000 Fair value of liability component CU250,000 Equity component (CU300,000 less CU250,000) CU50,000

101

Offsetting Financial Assets and Financial Liabilities

Offsetting Refers to the reporting of a recognized financial asset/ liability as a single net financial asset/ liability in the balance sheet Conditions (IAS 32:42) Currently has a legal enforceable right to set off recognized amounts Prohibiting of offsetting when Financial assets pledged as collateral or set aside in trust Obligations expected to be paid off through insurance claims
102

Intends to either settle on net basis, or realize asset and settle liability simultaneously

Creation of synthetic instrument

Different counterparties involved

Evaluation of Fair Value as a Basis of the Measurement of Financial Instruments

Arguments for fair value accounting

Fair value g accounting Discourage earning management Provide relevant and useful information to users of financial statements Cost accounting Opportunities for earning management Reluctance of loan managers to foreclose problem loans

103

Evaluation of Fair Value as a Basis of the Measurement of Financial Instruments

Undue fluctuations in reported earnings Arguments against fair value accounting Reliability issues

Does not reflect purpose

104

Derivatif
Instrumen keuangan atau kontrak lain dengan karakteristik:
Nilainya berubah akibat dari perubahan variabel yang mendasari ( t suku b d i (spt k bunga, h harga, nilai t k il i tukar, dll). Tanpa investasi awal neto atau nilainya lebih kecil dari nilai kontrak sejenis yang memberi pengaruh yang sama terhadap perubahan faktor pasar. Diselesaikan pd t Di l ik d tanggal t t t di masa l tertentu mendatang.

Derivative Financial Instruments

A derivative is a financial instrument that meets the following three criteria: Its value changes in response to a change in an underlying Scope Exemption: IAS 39:5 exempts contracts which meet the definition of a derivative from the standard if the contract is entered into to meet the entitys usual purchase, sale or usage requirements Requires little or no initial investment

Settled at a future date

106

Karakteristik Derivatif
Derivatif yang berdiri sendiri (Freestanding derivative).
Misalnya option, forward contract, swap, future contract

Derivatif Melekat (Embedded derivative)

Komponen dari hybrid/combined instrument; Didalamnya terdapat kontrak utama non derivatif; Sebagian arus kas yg berasal dari instrumen yang digabungkan bervariasi seperti d i tif yg b di i di b k b i i ti derivatif berdiri sendiri. p persyaratan untuk diakui terpisah p Terdapat p y

Derivative Financial Instruments

Example of derivative instruments and their underlying Types of derivative instruments Option contracts (call and put) Forward contracts e.g. foreign exchange forward contract Future contracts e.g. commodity futures Swaps Underlying Security price Used by Producers, Producers trading firms firms, financial institutions, and speculators Various companies p

Foreign exchange g g rate Commodity prices Interest rate

Producers and consumers Financial institutions

108

Derivative Financial Instruments

Use of derivatives
1. Manage market risk 2. Reduce borrowing cost 3. 3 Profit from trading or speculation

Types of derivatives
1. 1 Forward type derivatives such as forward contracts future contracts contracts, and swaps 2. Option-type derivatives such as call and put options, caps and collars and warrants 3. Free standing derivatives 4. Embedded derivatives

109

Forward Contracts
An agreement between two parties (counterparties) whereby one party agrees to buy and the other party agrees to sell a specified amount (notional amount) of an item at a fixed price (forward rate) for delivery at a specified future date (forward date) Can either be a forward purchase contract or a forward sales contract, depending on the perspective of the counterparties

A Company

Sells Forward Contract

B Company

Forward sales contract

Forward purchase contract

110

Forward Contracts
Not standardized contracts as they are not traded on an exchange
They entail counterparty risks They are can be tailored to specific needs of counterparties They involve lower transaction costs

Fair value of forward contract:

Notional x amount where (Current forward rate contracted forward rate ) (1+r)
t

Contracted forward rate is forward rate fixed at inception Current forward rate is forward rate for remaining period to maturity

r = discount rate t = period to maturity

At inception date, the fair value of a forward contract is nil.

111

Future Contracts
A future contract is similar to a forward contract except that it is a standardized contract and is traded on an exchange Futures contracts are marked-to-market and settled on a daily basis Futures contracts require payment of a margin deposit which has to be maintained throughout the contract period Wide range of exchange-traded future contracts
Commodity futures Interest rate futures Currency futures y

112

Option Contracts
Contract that gives holder the right but not the obligation to buy or sell a specified item at a specified price 2 type of option contracts
1. Call option right, but not obligation to buy 2. Put option right, but not obligation to sell

Can be American option (exercisable anytime to expiration) or European option (exercisable only on maturity date) Can also be customized (not traded) or standard contract quoted on exchange (listed options)

113

Option Contracts
Main features
Purchaser (holder) pays premium to seller (writer of option) Holder has the right, but not obligation to perform; while write has obligation to p g perform Asymmetrical pay-off profile Holder has limited loss (due to premium) and unlimited gain Writer has limited gain and unlimited loss g Relationship between the strike price and the underlying
Strike price> Underlying y g (spot price) Holder of call option Holder of put option Out-of-the-money In-the-money Strike price> Underlying y g (spot price) At-the-money At-the-money Strike price> Underlying y g (spot price) In-the-money Out-of-the-money
114

Option Contracts

Fair value of option contract

Fair value of an option = Intrinsic value + Time value

Listed options = quoted price Not traded options = Valuation model ( Black-Scholes model)

Diminishes over time Zero at expiration

Call option = Max [0, Notional amount x (Spot price Strike Price) Put option = Max [0, Notional amount x (Strike price Spot Price)

Tan & Lee Chapter 9

2009

115

Embedded Derivatives
Derivative that is part of a hybrid financial instrument
Hybrid Instrument Host Instrument Embedded derivative: Linked to underlying and change in underlying causes change in cash flow

Example is bond whose ultimate proceed are linked to price of commodity, such as oil, or to a consumer price index
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Split Accounting of Embedded Derivatives

IAS 39 requires embedded derivatives to be separately recognized from the host instrument and accounted for in the same way as a stand-alone derivative if the following conditions are met:

Conditions for separation of embedded derivative Economic characteristics and risk of host instrument are not closely related to that of the derivative Hybrid instrument is not measured at fair value, with changes in fair value recognized in profit and loss

There is a separate instrument with same terms as the embedded derivative

Tan & Lee Chapter 9

2009

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Derivatif Melekat
Entitas yang diharuskan untuk memisahkan derivatif melekat dari kontrak utamanya, namun tidakdapat mengukur derivatif melekatnya secara t i h maka k terpisah, k keseluruhan k t k l h kontrak yang digabungkan diperlakukan sebagai aset/liabilitas keuangan yang dimiliki untuk diperdagangkan

Accounting for Derivatives

Default accounting treatment for derivatives under IAS 39: Derivatives are classified under the Fair Value through Profit or Loss category and changes in their fair values are taken to income statement Exception - when a derivative is designated as a hedge of an identified risk and the hedge is effective In this case accounting for effective. case, the derivative follows hedge accounting rules

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Accounting for Forward Contract

At inception

During life of contract Dr Forward Contract (asset) Cr Gain on forward contract

Closing position or at expiration Dr Cash Cr Forward contract

No journal entry as j y fair value is nil

or Dr Loss on forward contract Cr Forward Contract (liability) j Adjust fair value and record gain/loss Dr Forward contract Cr Cash

Close out and record net settlement of contract

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Accounting for Future Contract

At inception

During life of contract Dr Cash Cr Gain on future contract

Closing position or at expiration Dr Cash Dr Gain on future f t re contract Cr Margin Contract Dr Cash Cr Loss on future contract Cr Margin Contract Close out and recover margin deposit
121

Dr Margin deposit Cr Cash

or Dr Loss on futures contract Cr Cash

p y Record payment of initial margin deposit

Record daily y settlement of future contracts

Accounting for Purchased Option Contract

At inception

During life of contract Dr Option Contract Cr Gain on option contract

Closing position or at expiration Dr Cash* Dr Gain on option contract Cr Option Contract Dr Cash* Cr Loss on option contract Cr Option Contract
(* assume expires in-the-money)

Dr Option contract (asset) Cr Cash

or Dr Loss on option contract Cr Option Contract p

p y Record payment of initial margin deposit

Adjust for fair value j and record gain/loss

Close out and record net settlement of contract

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Accounting for Written Option Contract

At inception

During life of contract Dr Option Contract Cr Gain on future contract

Closing position or at expiration Dr Option contract Cr Gain on Option Contract (Expires out-of-themoney) Dr Option contract Dr Loss on option Cr Cash (Expires in-the-money)

Dr Cash Cr Option contract (liability)

or Dr Loss on futures contract Cr Option Contract p

Record payment of p y initial margin deposit

Adjust for fair value j and record gain/loss

Close out and record net settlement of contract

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Hedging
Propose is to neutralize an exposed risk
Loss on hedge item offset by gain on hedging instrument Reduce volatility than preserve gains

Other ways of hedging through non-derivative derivatives

Money market instruments (money market hedge) Natural hedge (offsetting foreign currency assets and liability in the same currency)

Special accounting rules called hedge accounting applies when hedge accounting derivatives are used for hedging purposes

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Rationale of Hedge Accounting

Arises because of the mismatch of income-offsetting effect between income offsetting hedged item and hedging instrument Situations requiring hedge accounting
Hedge item and hedging instrument are measured using different bases (One is at cost while the other is at fair value) Hedged item yet to be recognized in financial statement Different treatment for changes in fair value (changes taken to equity while the other is taken to income statement)

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Risks That Qualify for Hedge Accounting

Interest rate risk

Foreign exchange risk

Spec c s s Specific risks that qualify for hedge accounting

Price risk

Credit risk

Risks must be specific risk, not general business risks

Possible for a derivative to hedge more than one risk

126

Qualifying Hedging Instruments

(IAS 39: 72 73)

Instruments that qualify include:

Designated derivatives (except written options) Embedded Derivatives Designated non-derivatives financial asset/ liability that hedge foreign non derivatives exchange risks only

Value used to determine hedge effectiveness

If used in its entirety, fair value is used If broken into time value and intrinsic value, permissible to use intrinsic value. However, it must be explicitly documented at inception , p y p

If derivative is used as a hedge of more than 1 risk

Individual designated component must meet hedge accounting criteria Permissible for portion of notional amount to be designated
127

Qualifying Hedged Items

(IAS 39: 78 -79)
Qualify Financial assets and liabilities with exposure to changes in fair value Non-financial assets exposed to foreign exchange or price risks Firm commitment Highly p g y probable forecast transaction with exposures to future cash flows Net investment in foreign entity
128

Do not qualify Held-to-maturity instruments (regardless of fixed rate or variable rate) Investment in an associated company

Criteria for Hedge Accounting

(IAS 39: 88)

Conditions t b met f h d accounting t apply C diti to be t for hedge ti to l

Enterprise must have exposure to risk that affects income statement Derivative contract specifically entered to hedge underlying exposure Hedge must be highly effective Effectiveness of hedge can be reliably measured Hedging relationship must be formally documented at the inception of the hedge
129

Classification of Hedging Relationships

Causes Fair value hedge Explanation Hedge of the exposure to changes in fair value of a recognized asset or liability or an unrecognized firm commitment, or an identified portion of such asset, liability or firm commitment, which is attributable to a particular commitment risk and could affect profit or loss (IAS 39:86a) Hedge of the exposure to variability in cash flows that (i) is attributable to a particular risk associated with a recognized asset or liability (such as all or some future interest payment on variable debt instrument )or a highly probable future transaction, and (ii) could affect profit or loss (IAS 39:86b) Hedge of the foreign currency risk associated with a o e g ope at o ose a c a statements a e equ ed foreign operation whose financial state e ts are required to be translated into the presentation currency of the parent company
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Cash flow C h fl hedge

Hedge of a net investment in a foreign entity

Jenis Lindung Nilai Lindung nilai atas nilai wajar: suatu g j lindung nilai terhadap eksposure:
pe uba a perubahan nilai wajar atas aset atau a aja kewajiban yang telah diakui p y g , atau komitmen pasti yang belum diakui, atau bagian yang telah diidentikasi dari aset, kewajiban, atau komitmen pasti tersebut, yang dapat diatribusikan pada risiko tertentu dan dapat memengaruhi laporan laba rugi

Jenis Lindung Nilai

Lindung nilai atas arus kas: suatu lindung nilai terhadap eksposur variabilitas arus kas yang:
dapat di t ib ik pada risiko t t t yang t k it d t diatribusikan d i ik tertentu terkait dengan aset atau kewajiban yang telah diakui ( (misalnya seluruh atau sebagian pembayaran bunga y g y g di masa depan atas utang dengan suku bunga variabel) atau yang dapat diatribusikan pada risiko tertentu yang terkait dengan prakiraan transaksi yang kemungkinan besar terjadi, dan dapat memengaruhi laporan laba rugi.

Classification of Hedging Relationships

The designation of a derivative as a fair value hedge or a cash flow hedge is determined by the hedged risk, that is, whether the entity has a fair value exposure or a cash flow exposure An exception where a derivative can be designated as either a fair value hedge or a cash flow hedge is where the hedged risk is the foreign exchange risk of a firm commitment

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Jenis Lindung Nilai Lindung nilai atas investasi neto g pada operasi di luar negeri
Sa a sepe t Sama seperti Lindung Nilai Arus Kas du g a us as Effective Hedge to be disclosed in Equity Capital p Non effective hedge to be disclosed in P/L Foreign Operation in Foreign Currency Area

Akuntansi Lindung Nilai

Perlakuan akuntansi khusus bagi transaksi hedging g g g yang mencakup instrumen hedging dan hedge item, yang bertujuan untuk memastikan keuntungan atau kerugian atas instrumen hedging dan hedge item diakui dalam laporan Laba Rugi periode yang sama. Jika tidak diterapkan, k Jik tid k dit k kemungkinan missmatch antara ki i t h t keuntungan/kerugian instrumen hedge dengan keuntungan/kerugian hedge item g g g Tidak seluruh lindung nilai dapat memenuhi persyaratan untuk Hedge Accounting menurut PSAK 55

Kriteria

Padasaatdimulainyalindungnilaiterdapatpenetapandan Pada saat dimulainya lindung nilai terdapat penetapan dan pendokumentasianformalatashubunganlindungnilaidan tujuanmanajemenrisikoentitassertastrategipelaksanaan lindungnilai. li d il i Lindungnilaidiharapkanakansangatefektifdalamrangka salinghapusatasperubahannilaiwajaratauperubahanarus saling hapus atas perubahan nilai wajar atau perubahan arus kas Untuklindungnilaiatasaruskas,suatuprakiraantransaksi Untuk lindung nilai atas arus kas suatu prakiraan transaksi yangmerupakansubjekdarisuatulindungnilaiharus bersifatkemungkinanbesarterjadidanterdapateksposur perubahanaruskasyangdapatmemengaruhilaporanlaba b h k d t hi l l b rugi

Kriteria (Lanjutan)

Efektivitaslindungnilaidapatdiukursecaraandal Efektivitas lindung nilai dapat diukur secara andal Lindungnilaidinilaisecaraberkesinambungandan ditentukan bahwa efektivitasnya sangat tinggi sepanjang ditentukanbahwaefektivitasnyasangattinggisepanjang periodepelaporankeuangandimanalindungnilaitersebut ditetapkan

PerlakuanAkuntansi
Lindung Nilai atas Nilai Wajar W j
1.

Lindung Nilai Arus Kas Jika efektif, diakui di ekuitas

Keuntungan atau kerugian dari hedging instrument Penyesuaian atas hedged item

Langsung diakui di laba atau rugi Untuk perubahan nilai wajar yang disebabkan hedged risk, keuntungan atau kerugian langsung diakui di laba atau rugi By default

2.

N/A

3.

Ketidakefektifan lindung nilai dicatat di laba atau rugi Keuntungan atau kerugian di ekuitas ditransfer ke laba atau rugi

Dihitung

4.

N/A

Pada saat yang sama dengan hedged item diakui g g di laba atau rugi

Hedge Effectiveness

Hedge is ineffective 125%

Hedge is effective

100%
Hedge is effective

80% Hedge is ineffective

Assessing Hedge Effectiveness

IAS 39:9 - The degree to which changes in the fair value or cash flows of the hedged item that is attributable to a hedged risk are offset by changes in the fair value or cash flow of the hedging instrument Hedge effectiveness is evaluated
Prospectively on inception of hedge; and Retrospectively on an ongoing basis

On inception, hedge effectiveness is assessed on inception

Comparison of the principal or critical terms Historical analysis Correlation analysis
140

Assessing Hedge Effectiveness

During the duration of hedge, hedge effectiveness is assessed on dollar-offset method: Hedge effectiveness ratio (HER):

Hedge effectiveness Changes in fair value or future cash flow of hedging instrument = (or delta ratio) Changes in fair value or future cash flow of hedged item 0.8 08 1.25 12

Effective hedge (IAS 39: AG 105b)

Exceptions for effective hedge even if HER falls out of range

IAS 39 a o s hedge e ect e ess to be assessed o cu u at e bas s S allows edge effectiveness on cumulative basis if hedge is designated and conditions are properly documented

Tan & Lee Chapter 9

2009

141

Assessing Hedge Effectiveness

Exclusion of time value of certain derivatives to be excluded from hedge relationship
Derivative separated into 2 component 1. Time value (options) or interest (forwards) 2. Intrinsic (options) or spot element (forwards) Excluded time value taken to income statement as per default treatment Should result in highly effective hedge, as intrinsic/ spot component moves in tandem with underlying, while time/interest component does not If critical terms of hedging instruments and hedged item are exactly the same, HER should be equal or around 1

142

Accounting for a Fair Value Hedge

Hedged Item (recognized asset or liability or firm commitment) Change in fair value

Hedging Instruments Change in fair value

Income statement Gain (loss) on hedging instrument offset loss (gain) on hedged item

Balance sheet Change in fair value adjusted against carrying amount Change in fair value adjusted against carrying amount
143

Illustration g y (fair value hedge) g ) Hedge of inventory (

Scenario 31/10/20x3
Inventory of 10,000 ounces of gold Carried at cost of $3 000 000 ($300 per ounce) $3,000,000 Price of gold was $352 per ounce

1/11/20x3
Sold forward contract on 10,000 ounce for forward price of $350 ounce 10 000 Forward contract matures on 31/3/20x4

31/12/20x3
Forward price f 31/3/20 4 contract was $340 per ounce and spot price F d i for 31/3/20x4 t t d t i of gold was $342 per ounce Hedge effective ratio of 1 on 31/12/20x3

144

Illustration g y (fair value hedge) g ) Hedge of inventory (

1/11/20x3 No entry or just a memorandum entry as the fair value of the forward contract is nil 31/12/20x3 31/12/20 3
Dr C Cr Forward contract . Ga o o a d co t act Gain on forward contract ... 100,000 100,000 00,000 Taken to income statement 100,000

Gain on forward contract: 10,000 x ($340 -$350) Dr Cr Loss on inventory Inventory .. 100,000 100 000

Gain on forward contract: 10,000 x ($342 - $352)

145

Illustration g y (fair value hedge) g ) Hedge of inventory (

31/3/20x4 Inventory is sold to third-party at $330 per ounce (also maturity date of forward contract
Dr Cr Forward contract . Gain on forward contract ... 100,000 100 000 100,000

Gain on forward contract: 10,000 x ($330 -$340) Dr Cr Loss on inventory Inventory .. 120,000 120,000

Gain on forward contract: 10,000 x ($330 - $342) Dr Cr C Cash .. Sales S l . 3,300,000 3,300,000 3 300 000
146

Sale of inventory: 10,000 x $330

Accounting for a Cash Flow Hedge

Effective Cash Flow Hedge (IAS 39:95)

Effective portion of gain/ loss Recognized directly in equity through q y g statement of changes in equity

Ineffective portion of gain/ loss Recognized in profit or loss

147

Accounting for a Cash Flow Hedge

Cash flow hedges are applicable to the following: Forecasted transactions involving financial and non nonfinancial assets/liabilities which will result in cash inflow/ outflow

Interest rate swaps

Other transactions which affect future cash flows

148

Illustration
Effective and ineffective portions of a cash flow hedge

Scenario 1/1/20x1
Entered into futures contract to hedged forecast transaction at 30/4/20x1 Classified as cash flow hedge Period di P i d ending 31/1/20x1 28/2/20x1 31/3/20x1 30/4/20x1 i fair value in f i l of future contracts $100 90 103 ( ) (38) i present value of in l f expected future cash flow $(105) (80) (105) 45

149

Illustration
Effective and ineffective portions of a cash flow hedge
Determination of effective and ineffective portions of a cash flow hedge
Lesser of two cumulative amount in absolute terms (c) $100 185 290 245 Ineffective Effective portion portion credited/ credited/ (debited) to (debited) to income equity in statement current in current period) period $100 85 105 (45) $0 5 (2) 7

Period ending 31/1/20x1 28/2/20x1 31/3/20x1 30/4/20x1

Cumulative in FV of future contracts (a) $100 190 293 255

Cumulative in PV of expected cash flow (b) $(105) ( (185) ) (290) (245)

150

Ilustrasi
An entity has entered into a hedging relationship. At the year-end the entity assesses the fair value of the hedged item and hedging instrument, and the following gains and losses arise: Hedged item gain of CU500 H d d it i f Hedging instrument loss of CU600 The effectiveness of the hedge is calculated as: CU600 / CU500 = 120% the hedge is therefore assessed as being highly effective.

151

Ilustrasi

An entity has hedged future cash flows on a financial liability using an interest related derivative. The effectiveness of the hedge has been ssessed at 90%. g % The additional interest costs relating to the derivative are CU20,000. CU18,000 of the interest costs are recognised in other comprehensive income. The CU2,000 remaining (the ineffective portion) is recognised in profit or loss for the period.

152

Hedge of a Net Investment in a Foreign Entity

Hedge risk is foreign exchange risk
Applies to foreign operations whose functional currencies are the currencies of the country where the foreign operations are located Closing rate method may result in significant translation loss from depreciating currencies p g

Accounting treatment similar to cash flow hedge

Cumulative change in fair value of hedging instrument (A) Cumulative translation difference on net investment (B)

Hedge effectiveness =

Hedge is effective if the delta ratio is between 0.8 and 1.25. Unlike a fair value hedge or a cash flow hedge, a non-derivative is allowed to be the hedging instrument for example a foreign currency instrument, example, loan.
153

Illustration
Hedge of a Net Investment in a Foreign Entity

Scenario
Functional currency is the dollar ($) Acquired 100% interest in foreign company (functional currency is FC)

31/12/20x3
Exchange rate is $1.85 to FC1 Loan of FC1 200 000 at 5% interest taken to hedge foreign investment FC1,200,000 Foreign currency translation reserves showed $15,000 (credit balance)

31/12/200x4 31/12/200
Exchange rate is $1.70 to FC1 Average rate is $1.78 to FC1 Foreign company reported net profit of FC380,000
154

Illustration
Hedge of a Net Investment in a Foreign Entity
Translation difference in foreign investments FS for 31/12/20x4
On net assets on 1/1/20x4 (FC 1,200,000 x $(1.70-1.85) . On net profit for 20x4 (FC380,000 x $(1.70-1.85) .. Translation loss for 20x4 Foreign currency translation reserves (credit balance) $(180,000) (30,400) $(210,400) (195,400)

Journal entries for parent 31/12/20x3

Dr Cr Cash .. Loan payable ... 2,200,000 2 200 000 2,200,000

The loan payable is designated as a hedge of the net investment: FC1,200,000 FC1 200 000 x spot rate of $1 85 t t f $1.85
155

Illustration
Hedge of a Net Investment in a Foreign Entity
31/12/20x4
Dr Cr Interest expense . Accrued interest .. 106,800 106,800

Interest expense during the year at 5% x FC1 200 000 x $1 78 FC1,200,000 $1.78 Dr C Cr Cr Accrued interest .. Cas Cash .. Exchange gain . 106,800 102,000 0 ,000 Taken T k to equity i 4,800 to offset translation loss

Settlement of accrued interest at year-end Dr Cr Loan payable ... Foreign currency translation reserves 180,000

180,000

Exchange gain on FC loan taken directly to equity: FC 1,200,000 x ($1.70 - $1.85)

156

Discontinuation or Termination of Hedge Accounting

Consideration for discontinuation or termination of hedge accounting

Hedging instrument has reached maturity date or is closed off or terminated

Criteria for hedge accounting is no longer met

Hedge designation is revoked

Accounting treatment depends on type of hedge

157

Evaluation of Hedge Accounting

Objective of hedge accounting
Reflect effectiveness of hedging activities of a firm Reduce volatility of reported earnings

Compliance with hedge accounting may result in considerable expenditure of resources There are challenges in compliance with hedge accounting criteria for macro hedges Issue is whether the additional costs of compliance more than offset the benefit of applying hedge accounting

158

159

PSAK 60 : INSTRUMEN KEUANGAN PENGUNGKAPAN

Ringkasan
Pengaturan mengenai p g g p g g pengungkapan instrumen keuangan yang berbeda dari pengaturan sebeluma:
Ruang lingkup mengatur yang sebelunya belum diatur Signifikansi dari instrumen keuangan Penjelasan lebih rinci mengenai risiko likuiditas

SignifikansiInstrumenKeuangan
Instrumen keuangan signifikan mempengaruhi g g p g posisi keuangan perusahaan.
Secara lebih tegas mensyaratkan entitas untuk mengungkapkan informasi yang memungkinkan pengguna laporan keuangan untuk mengevaluasi signifikansi instrumen keuangan terhadap posisi g g pp dan kinerja keuangan.

PengungkapanLaporanPosisiKeuangan
Kategori Aset Keuangan dan Liabilitas Keuangan Aset Keuangan Atau Liabilitas Keuangan yang Diukur Pada Nilai Wajar Melalui Laporan Laba Rugi Reklasifikasi Penghentian Pengakuan Agunan g Penyisihan Kerugian Kredit Instrumen Keuangan Majemuk Dengan Beberapa D i tif M l k t B b Derivatif Melekat Wanprestasi Dan Pelanggaran

PengungkapanLaporanLabaRugiKomp.
Pos-pos Penghasilan, Beban, Keuntungan atau Kerugian Pengungkapan Lainnya Kebijakan Akuntansi Akuntansi Lindung Nilai Nilai Wajar

JenisdanTingkatRisikoyangTimbul
Pengungkapan Kualitatif g g p Pengungkapan Kuatitaif
Risiko kredit Aset keuangan yang melewati jatuh tempo atau mengalami penurunan nilai Agunan dan peningkatan kualitas kredit yang diperoleh Risiko likuiditas Risiko Pasar Analisis Sensitivitas Pengungkapan risiko pasar lainnya

Review
In accordance with IFRS7 Financial instruments: disclosures, disclosures which of the following best describes the risk that an entity will encounter if it has difficulty in meeting obligations associated with its financial liabilities? A Liquidity risk. q y B Credit risk C Financial risk D Payment risk

165

Main References
Standar Akuntansi Keuangan g Dewan Standar Akuntansi Keuangan Materi Publik hearing PSAK 50, 55 dan 60 IFRS Deloitte Slide Sharing Session Overview on the Impac of PSAK 50 and 55 (Revised 2006)Per June 28, 2010 ct, Enrst & Young IAS Plus International Financial Reporting Standards Certificate Learning Material The Institute of Chartered Accountants, England and Wales

166

TERIMA KASIH
Dwi Martani Departemen Akuntansi FEUI martani@ui.ac.id atau dwimartani@yahoo.com 08161932935

167