CHAPTER 18 1.

Identify the contract with customer

- Kontrak : agreement diantara dua atau lebih
REVENUE RECOGNITION pihak yang menciptakan hak atau kewajiban,
bisa berupa written, oral,implied from
PSAK 23 -> PSAK 72 “KONTRAK DENGAN
customary business practice
PELANGGAN”

 Revenue from contract with customer mengadopsi asset

liability approach : revenue didasaran pada kenaikan
asset atau liability yang berkaitan terkait kontrak
dengan pelanggan, analisa kontraknya didasarkan pada :
kontrak ada jangka waktu dan pengukuran tekait
consideration, tanpa kontrak perusahaan tidak akan tahu
apakah promises bakal tercapai.

- Basic accounting : pendapatan gabisa diakui

kalo kontrak belum terjadi, hak atau
kewajibannya berdampak pada kenaikan pada
asset atau liability.
Contract asset = right received > performance
obligation
Contract liability = rights received <
performance obligation
- Contract modification : mengubah term dari
 Identify the five steps in the revenue recognition kontrak yang sedang berjalan, jadi perusahaan
process bisa menentukan dia mau bikin kontrak baru
Stepnya kaya gambar diatas atau mau memodifikasi kontraknya.
 Separate performance obligation : good or
service are distinct, consideration that reflect the
standalone selling price.
2. Identify the separate performance obligations
in the contract
3. Determine the transaction price
Merupakan jumlah yang perusahaan
eksketasikan bakal diterima dari customer,
perusahaan juga harus nentuin terkait dengan :
- variable consideration : harga yang mungkin
tejadi dimasa depan kaya mencakup dikonk
rabat, credit, perfomrnace bonus atau royalty
expected value : kemungkinan yang bakal
diterima
most likely amount : hasilnya dari dua
kemungkinan
Perusahaan hanya akan mengakui adnya
variable consideration jika : perusahaan
memilik kontrak yang sama da nada
kemungkinan untuk menentukanjumlah
kumulatif dari revenue, based on experience
- TVM : interest accrued on consideration,
FV juga diukur, interest expense/interest
revenue
- Non-cash consideration : perushaan tuh
kadang kadang nerima barang donasi/
hadiah, atau misalkan customernya
kontribusi kaya equipment/labor, nah nanti
diukur pake fair value berdasar apa yg
diterima
- consideration paid or payable to customer :
discount, rabat, coupon, free product
4. Allocate the transaction price to separate
performance obligation
Berdasarkan niali relative di pasar
 another product in exchange, Credit that can be
applied against amounts owed, or that will be
owed, to the seller.

Record sale Cash

Sales revenue
Refund Liability
Record COGS COGS
Estimated Inventory Return
Inventory
When a return Refund liability
5. Recognize revenue when the company satisfie occurs Account Payable
its performance obligation Returned Inventory
Estimated Inventory return
Perusahaan itu mengakui revenue kalo misalkan
Ketika dibayar Account Payable
customernya udah punya control terhadap Cash
barangnya dan perusahan gapunya alternative
buat gunain aseet nya lagi
Change in Control Indicators 2. Repurchase agreement
Company has a right to payment for asset. Transfer control of (sell) an asset to a customer
Company has transferred legal title to but have an obligation or right to repurchase, ini
asset. tuh biasanya aktivitas financing
Company has transferred physical
To record Cash
possession of asset. financing Liability to ……
Customer has significant risks and rewards To record interest Interest expense (single)
of ownership. expense Liability to….
Customer has accepted the asset. Retirement Intereset expense (majemuk)
Liability to …..
 Identify other revenue recognition issues Liability to …..
Cash
1. Right of Return : granted untuk produk
berdasarkan bermacam alasan, bisa refund,
3. Bill and Hold Arrangement
Barangnya udah selesai, seller udah siap jual,
tapi customer belum siap ambil barang, diakui
sebagai bill-hold arrangement jika :
(a) The reason for the bill-and-hold
arrangement must be substantive.
(b) The product must be identified
separately
(c) The product currently must be ready for
physical transfer
(d) Seller cannot have the ability to use the
product or to direct it to another customer.
6. Warranties
Ada tipe assurance-type warranty yang dimana
4. Principal-Agent Relationship
warranty nya mencakup sales price, da nada
Nanti bakal ada komisi buat agen.
service type warranty yang dipisah

5. Consignment
7. Non refundable upront fees
Ada consignor yang punya barang, da nada
Pembayaran dari customer sebelum
consignee yang makes a commission on the sale
mengirimkan produk atau melakukan service
kaya di healtc club.

 Presentation and Disclosure regarding revenue

Contract Asset :
Ada dua tipe :
 Unconditional rights to receive
consideration because company has
satisfied its performance obligation.
 Conditional rights to receive
consideration because company has
 satisfied one performance obligation but
must satisfy another performance
obligation before it can bill the customer.
Record contract asset Contract Asset
Sales Revenue
Saat transfer product Account Receivable
Contract Asset
Sales revenue
Presentation
1. Cost to fulfill a contract : yang
memberikan kenaikan terhadap asset,
dan expensed as incurred
2. Collectability : Credit risk that a
customer will be unable to pay in
accordance with the contract.
Disclosure
1. Contract dengan customer
2. Significant judgment
3. Asset recognized from cost incurred to
fulfill a contract
4. Disaggregation of revenue.
5. Reconciliation of contract balances.
6. Remaining performance obligations.
7. Cost to obtain or fulfill contracts.
8. Other qualitative disclosures.
9. Significant judgments and changes in
them.
10. Minimum revenue not subject to variable
consideration constraint.
REVENUE RECOGNITION OVER TIME
In addition at least one of the following criteria
must be met:
a. The customer simultaneously receives and
consumes the benefits of the entity’s
performance as the entity performs.
b. Another company would not need to
substantially re-perform the work the company
has completed to date if that other company
were to fulfill the remaining obligation to the
customer.
c. The company has a right to payment for its
performance completed to date, and it expects to
fulfill the contract as promised.
1. Sebuah perusahaan biasanya recognizes
revenue berdasarkan progress nya
“percentafe of completion method”
2. Kalo misalkan kriteria 1 dan 2 diatas
tidak bertemu maka mengunakan “cost-
recovey (zero-profit) method)
1. Percentage of completion method
Measuring the progress toward completion
menggunakan cost-to cost basis
2. Cost Recovery (Zero-Profit) Method
Hanya mengakui revenue berdasar cost incurred
 Long term contract losses
1. Loss in current period on profitable
contract : hanya terjadi pada percentage of
completion method

2. Loss on unprofitable contract : didua metode

  Use of trade name or other intellectual property
of the franchisor.
 Continuing services, such as marketing help,
training, and in some cases supplying inventory
and inventory management.

 Franchise Accounting
BACA LAGI CONTOHNYA DI PPT!!!!

 Franchise
o Manufacturer-retailer
o Manufacturer-wholesaler
o Service sponsor-retailer
o Wholesaler-retailer

Two sources of revenue:

Sale of initial franchises and related assets or
services, and
Continuing fees based on the operations of
franchises.

Performance obligations relate to:

 Right to open a business.