CHAPTER 16 Merupakan compound instrument karena

mencakup liability and equity component.

DILUTIVE SECURITIES AND EPS Perusahaan menggunakan “with-and-without”
method untuk menilai compound instrument ini
1. Dilutive Securities and Compensation Plans
:
Sekuritas dilutif merupakan sekuritas yang dapat diubah
menjadi saham biasa dan perubahan tersebut berakibat pada
pengurangan (dilution) laba per lembar saham. Contoh
sekuritas dilutif adalah convertible bonds, convertible preferred
stock, stock warrants.

1. Debt and Equity

Jadi di sini itu masih ada pertanyaan seputar instrument Fair value liability diperoleh dari present value
kaya convertible securities, preference shares, warrant, dari principal dan interest payment
itu dilaporkan sebagai liabilities atau ekuitas? Mencatat (Dr) Cash
 Non-redeemable ordinary/preference shares : Convertibl (Cr) Bonds Payable
dilaporkan sebagai equity karna gaada kewajiban e Debt (Cr) Share Premium-Conversion
buat bayar dividend atau beli kembali sharesnya. Equity

a) senilai fair value of convertible debt ;

2. Convertible Debt
b) senilai fair value of liability component
Jadi convertible bonds itu bond yang bisa diubah ke ; c) Share Premium-Conversion Equity
securtities lain selama periode yang spesifik setelah merupakan selisih lalu dilaporkan sebagi
penerbitan. Convertible bond ini dia punya 2 equity di SOFP
keuntungan berupa hak buat dapet interest juga dapet
hak istimewa buat nuker ke sekuritas lain Settlement of Convertible Debt
Perusahan nerbitin convertible bond ini karna dua Repurcha (Dr) Bonds Payable
alasan yaitu : se at (Cr) Cash)
maturity
 Meningkatkan equity capital tanpa memberikan
Senilai fair value of convertible debt
hak control yang signifikan kaya saham,.
Conversio (Dr) Share Premium-Conversion Equity
 memperoleh dana murah karena tingkat bunga n of bonds (Dr) Bonds Payable
obligasi konversi umumnya lebih rendah dibanding at (Cr) Share Capital-Ordinary
straight debt obligation maturity (Cr) Share Premium Ordinary
a. Accounting for Convertible Debt
a) Dari selisi fair value convertible bond
 dengan fair value liability component ; (Dr) Conversion expense
b) Senilai carrying amount saat jatuh (Dr) Share Premium-Conversion Equity 20
tempo (Dr) Bonds Payable 500
c) Senilai jumlah convertible bond x (Cr) Share Capital-Ordinary 450
penukaran terhadap ordinary shares x nilai (Cr) Share Premium-Ordinary 50+20
par dari shares (Cr) Cash
d) Carrying Amount bonds dikurangi
dengan share capital ordinary baru
ditambah dengan share premium 3. Convertible Preference Shares
conversion equity karena ini tuh di transfer Opsi untuk menukar preference share menjadi ordinary
ke share premium ordinary shares. Bedanya sama convertible debt itu di
klasifikasinya, kalo convertible bond itu masuknya ke
Sama aja kaya at maturity cuma beda
compound istrumen karena memang punya liability dan
nominal.
equit component, kalo convertible preference share tuh
NO GAIN OR LOSS!!!! bukan compound istrumen karena Cuma punya equity
aja.
Repurcha ADA GAIN OR LOSS!!! NO GAIN OR LOSS!! Baik saat di convert atau di
se before repurchase
maturtity (Dr) Bonds Payable
(Dr) Share Premium-Conversion Equity
Pencatatan (Dr) Cash
(Dr) Loss on repurchase
penerbitan (Cr) Share Capital-Preference
(Cr) Cash
convertible (Cr) Share Premiun-Conversion
preference Equity
*) Kalo diatas kondisinya loss
shares
- Gain/Loss : Selisih allocated liability
Saat diconvert (Dr) Share Capital-Preference
component and carruing amount liability
(Dr) Share Premium-Conversion Equity
- Equity component is recognizes (as a
(Cr) Share Capital Ordinary
reduction) in equity
(Cr) Share Premium-Ordinary

a. Induced Conversions Karna gunain book value method jadinya

mengabaikan fair value makanya gaada tuh
Untuk mengurangi interest cost atau
gain.loss dari hasil convert
meningkatkan equity ratio dengan
menambahkan tambahan berupa cash atau Repurchase (Dr) Share Capital-Preference
ordinary shares yang disebut sweetener yang (Dr) Share Premium-Conversion Equity
dilaporkan sebagai expense (Dr) Retained Earnings
(Cr) Cash
 with warrants dikurangi dengan fair value of
Jadi kalo misal repurchase terus fair value liability component at date of issuance sehingga
nya lebih besar dari carrying amount yauda menghasilkan equity component at date of issuance
deh mengurangi aja R/E
Saat jual bonds Cash
Kalo lebih besar carrying amount nya
Bonds Payable
tinggal menambah juga R/E
Bisa at par, at premium, atau at
4. Share Warrants discount tergantung pada
Warrant itu mekanisme memberikan penawaran perbedaan face value dengan
terlebih dahulu kepada pemegang saham lama untuk present value of the bond
mempertahankan kepemilikannya. Punya diltuve effect
karena akan mengurangi EPS. Perbedaan Tambahan Cash
pencatatan Share Premium-Share warrant
substansialnya dengan convertible securities tuh kalo
karena issued
share warrant tuh nanti pemegang share warrant nya with warrant Senilai equity component at date
harus bayar sejumlah uang buat dapet shares. Biasanya of issuance
terjadi karena 3 situasi :
 To make the security more attractive by Saat exercise Cash
providing an equity kicker Share Premium-Share warrant
Share Capital Ordinary
 Preemptive right to purchase ordinary
Share Premium-Ordinary
shares
 Compensation to executives and employees INGET! TRANSFER SHARE
 Share Warrants Issued with other Securities PREMIUN-SHARE WARRANT
Long trem-option, umumnya jangka waktu warrant KE SHARE PREMIUM
tuh 5 tahun atau ngga 10 tahun. ORDINARY
Exercise price / strike price : jumlah dan harga ILUSTRATION 16-8
pelaksanaan
Debt issued with share warrants (baik detachable  Rights to Subscribe to Additional Shares
maupun non-detachable) merupakan compound Ada preemptive privilege, sama aja sih nanti
instrument karena emang punya debt dan equity dikasih hak istimewa buat beli saham untuk
component makanya pake lagi “with and without mempertahankan proporsi kepemilikan.
method” Reffered to as a share right, inituh biasanya short
duration
Jadi nanti pencatatannya pake langkah langkah Perusahaan itu biasanya cuma bikin memorandu
kaya biasa pertama nentuin dulu fair value of bonds entru ketia dia nerbitin rights to existing
 shareholder kaena have not yet issued shares nor memberikan “a piece of the action” (Share-based
received cash. compensation plans”
Jika cash received sama kaya par value : Ada restricted shares
(Cr) Share Capital-Ordinary senilai par The date when received options : grant date
Adadua metode :
Jika cash received > Par 1. Intrinsic value method : menilai option yang
(Cr) Share Premium-Ordinary
akan diterima hari ini jika di exercised. The
Jika cash received < Par intrinsic value is the difference between the market
(Dr) Share Premium-Ordinary price of the shares and the exercise price of the
options at the grant date.
2. Fair value method : companies use acceptable
option-pricing models to value the options at the
date of grant. (Disarankan IASB)
 Share Compensation Plans
o Accounting for Share Compensation
Untuk bayar dan motivasi employees. Warrant ini
 Share-Option Plans
share option
Mencakup two main accounting issues :
Terusss , A consensus of opinion is that effective
how to determine compensation expense,
compensation programs are ones that do the
over what periods to allocate
following:
compensation expense.
1. Base compensation on employee and company
 Determining expense : Kalo pake fair
performance.
value method perusahaan akan
2. Motivate employees to high levels of
memperhitungkan berapa total
performance.
compensation expense berdasarkan
3. Help retain executives and allow for recruitment
nilai pasar pada saat grant date
of new talent.
menggunakan option pricing model.
4. Maximize the employee’s after-tax benefit and
minimize the employer’s after-tax cost. At date of No entry
grant
5. Use performance criteria over which the
To record (Dr) Compensation expense
employee has control. compentsation (Cr) Share premium-share option
expense
Straight cash-compensation plans orientasinya ke Exercise (Dr) Cash
short run. Nah kalo long-term compensation plans (Dr) Share Premium-Share Options
itu untuk mengembangkan loyalty dengan (Cr) Share Capital-Ordinary
(Cr) Share preium-ordinary
 Cash = Exercise price X Jumlah
Options
Share Premium-Share option =
Persentase jumlah option X total
compensation expense
Expiration (Dr) Share Premium-share option
date (Cr) Share premium-expired
shareoptions
(Senilai berapa yang belum di
exercise atau persentase jumlah
options yang belum di exercise
dikalikan dengan total compensation
expense)
Total beban kompensasi itu tuh diukur pada saat date of grant,
adjusmentnya tergantung dua hal
 Service condition
 Market condition ; kenaikan pada market price
ordinary shares
 Restricted share
Keuntungan dari restricted share plan :
Restricted shares never become completely
worthless, Restricted shares generally
result in less dilution to existing
shareholders, Restricted shares better
align the employee incentives with the
companies’ incentives.
At grant (Dr) Unearned compensation
date (Cr) Share Capital-Ordinary
(Cr) Share Premium-Ordinary
Unearned Compensation represents
the
cost of services yet to be performed,
which is not an asset, dilaporkan di
bagian equity di SOFP sebagai contra
equity account (kaya treasury shares)
Akhir (Dr) Compensation expense
peiode (Cr) Unearned compensation
(adjustment)
Kalo misal (Dr) Share Capital-Ordinary
tidak (Dr) Share Premium-Ordinary
diexercise (Cr) Compensation expense
(Cr) Unearned compensation
 Employee share repurchase plans
(ESPPs)
Jadi kalo ini tuh mengizijkan employee
nya buat beli shares pada dalam
discounted price untuk short period of time
tujuannya untuk mengamakan equity
capital atau to induce widespread
ownership of its ordinary shares among
employees, menjadi kompensasi dan harus
dicatatat sebagai expense
Record issues (Dr) Cash
shares in an (Cr) Compensation expense
employee (Cr) Share Capital-ordinary
share- (Cr) Share premium-ordinary
purchase plan
 Disclosure
1. The nature and extent of share-based
payment arrangements that existed during
the period.
 2. How the fair value of the goods and
services received, or the fair value of the
equity instruments granted during the
period, was determined.
  3. The effect of share-based payment  Weighted Average Number of Shares
transactions on the company’s net income Outstanding
(loss) during the period and on its fi
nancial position

COMPUTE EPS

Digunakan untuk mengevaluasi profitability dari perusahaan.

EPS tuh merepresentasikan income yang didapat setiap
ordinary shares, makanya cuma buat ordinary shares.

Rumus dasarnyas sebenarnya kaya biasa Cuma Net Income

dibagi sama Weighted average of ordinary shares.

Kalo misal ada kategori discountinued operations maka Net

Income nya: Income from continuing operations dikurangi
dengan loss from continued operations
Share dividend and share split :kalo misalkan
 EPS-Simple Capital Structure (Basic earning EPS) ada hal kaya gini,maka harus restate lahi share
 Preference Share Dividend outstanding nya buat ngitung lagi weighted
Jadi kalo mial ada preference share dividend, average number of shares.
harus nyari dulu income available to ordinary
shares

Kalo misalkan ada preference share dividend

dan net loss terjadi maka perushaan menambah
preference dividend to the loss jadi bair bisa
dihitung loss per share nya berapa

Kalo misalkan preference dividendnya itu

kumulatif (dividen in arrear) atau gaada dividen
yang dibagikan tahun ini, maka harus tetep tau
berapa sih yang dialokasikan buat
dideklarasikan di tahun itu.
adjusts the shares outstanding from January 1 to June 1 for the share
dividend, so that it now states these shares on the same basis as shares
issued subsequent to the share dividend. Sabrina does not restate
shares issued after the share dividend because they are on the new
basis. The share dividend simply restates existing shares. The same
typeof treatment applies to a share split.

 EPS-Complex Capital Structure
Kalo basic EPS tuh katanya gagal untuk merecognize the
potential impact of a corporatis dilutive securities.
Ngitung EPS Complex capital structure tuh kalo
perusahaan punya convertible securities, options, warrant
dll, nah nanti tuh dia harus ngelaporin baik basic and
diluted EPS
Tapi sebagian sekuritas ada juga yang antidilutive.
 Diluted EPS-Convertible Securities
Diukur menggunakan “if-converted method”
Assumsi :
1. the conversion of the convertible securities
at the beginning of the period (or at the time
of issuance of the security, ifissued during
the period), and
2. the elimination of related interest, net of tax.
Thus, the additional shares assumed issued
increase the denominator—the weighted-
average number of shares outstanding. The
amount of interest expense, net of tax,
increase es the numerator—net income.
 

 Antidillution Revisited
Terjadi ketika exercise price > market price
dengan kata lain, sebuah sekuritas itu dikatakan
antidilutive kalo kenaikan net income
The company uses net income as the numerator—it computes no tax
menyebabkan kenaikan ordinary share earning
effect because preference dividends generally are not tax-deductible.

 Diluted EPS-Option and Warrants

Menggunakan “treasury share method”
if the exercise price of the option or warrant is lower than the market
price of the shares, dilution occurs. An exercise price of the option or
warrant higher than the market price of the shares reduces ordinary
shares. In this case, the options or warrants are antidilutive because
their assumed exercise leads to an increase in earnings per share

 Contingently Issuable Share

Bisa didefinisikan sebagai ordinary shares yang diterbitkan untuk
sedikitbahkan tidak ada cash