Chapter 9

Indirect and Mutual Holdings

9-1
 AKUNTANSI KEUANGAN LANJUTAN II
Minggu ke-1

KEPEMILIKAN TIDAK LANGSUNG

DAN MUTUAL

Referensi :
Beams, Anthony, Bettinghaus & Kenneth Smith, Advanced
Accounting, 13th Ed, 2018 – Chapter 9
20/02/2021 2
Indirect and Mutual Holdings:
1. Menyajikan laporan konsolidasi ketika
perusahaan induk memiliki kontrol melalui
kepemilikan tidak langsung (indirect holdings).
2. Menerapkan prosedur-prosedur konsolidasi
untuk kasus khusus kepemilikan mutual (mutual
holdings).

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1. Indirect Holdings

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 Jenis-Jenis Indirect Holdings
Father-son-grandson Connecting Affiliates

Parent
Parent
80%
80% 20%
Subsidiary A
Subsidiary A Subsidiary B
70% 40%

Subsidiary B
Induk memiliki A 80%, B 20%
dan melalui A memiliki tambahan
Induk memiliki 80% A, B 32% (80% x 40%).
dan melalui A memiliki B Induk memiliki B total of 52%.
56% (80% x 70%).

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 Father-Son-Grandson
Metode ekuitas (equity method) untuk struktur
kepemilikan Father-Son-Grandson
 Son menerapkan metode ekuitas untuk
“Investment in Grandson”
 Father menerapkan metode ekuitas untuk
“Investment in Son”
 Bagian kepentingan pengendali (controlling
interest share) dari laba bersih konsolidasi
mencakup:
 bagian dari kepemilikan lansung (direct holding) son
Bagian dari kepemilikan tidak langsung (indirect holding)
grandson (oleh father melalui son)
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 Father-Son-Grandson

Contoh: Father-Son-Grandson
Tanggal 1/Jan/16 Pop memperoleh 80% Son, dan
tanggal 1/Jan/17 Son memperoleh 70% Toy.

Laba bersih dan dividen untuk 2017:

Pop Son Toy
Separate earnings $100 $50 $40
Dividends 60 30 20
Lihat Ch.9 Beams, p.303
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 Father-Son-Grandson
Jurnal pencatatan - metode ekuitas
Son - EQUITY METHOD (70%):
Cash (+A) 14
Investment in Toy (-A) 14
Investment in Toy (+A) 28
Income from Toy (R, +SE) 28
for dividends and for income
Pop - EQUITY METHOD (80%):
Cash (+A) 24
Investment in Son (-A) 24
Investment in Son (+A) 62.4
Income from Son (R, +SE) 62.4
for dividends and for income = 80% x (50+28)
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 Father-Son-Grandson
Alokasi ke CI dan NCI
Pop Son Toy CI NCI Total
Separate income 100.0 50.0 40.0 190.0
Allocate:
Toy  28.0 (40.0) 12.0
70% Son: 30% NCI
Son  62.4 (78.0) 15.6
80% Pop: 20% NCI
Pop's  (162.4) 162.4
100% CI
Consolidated net
162.4 27.6 190.0
income
Alokasi ini mungkin kelihatannya seperti alokasi
"step-down method" yang disajikan dalam teks cost
accounting. Ini adalah secara matematik!
 Father-Son-Grandson
Hasil Alokasi
Pop Son Toy CI NCI Total
Separate income 100.0 50.0 40.0 190.0
Allocate:
Toy  28.0 (40.0) 12.0
70% Son: 30% NCI
Son  62.4 (78.0) 15.6
80% Pop: 20% NCI
Pop 
100% CI (162.4) 162.4
Consolidated net
income 162.4 27.6 190.0
• Dalam Laporan Laba secara terpisah: • Untuk Laporan Konsolidasi
Pop's net income = $162.4 Noncontrolling interest share
Son's "Income from Toy" = $28.0 (NCI) = 12.0 + 15.6 = $27.6
Pop's "Income from Son" = $62.4
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 Connecting Affiliates
Indirect holdings with connecting affiliates
• Sama dengan Father-son-grandson, namun
• Father mempunyai kepemilikan langsung baik di Son maupun di
Grandson

Contoh : Pet memiliki Sal 70% dan Tie 60%. Sal memiliki Tie 20%.
Pet Sal Tie
Separate income $70 $35 $20 Lihat Ch.9 Beams, p.306
Dividends 40 20 10

Transaksi-transaksi profit antar perusahaan (intercompany profit):

• Downstream: Pet menjual tanah ke Sal dengan untung $10. Ini akan secara
penuh diatribusikan ke Pet.
• Upstream: Sal menjual persediaan $15 ke Pet, dan Pet masih memilikinya
dalam persediaan akhir (ending inventory) dengan profit yang belum
terealisasi (unrealized profit) $5. Ini akan dialokasikan antara Pet and NCI.
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 Connecting Affiliates
Kalkulasi saldo investasi
Sal:
Underlying equity Jan 1 Dec 31
Capital stock 200 200
Retained earnings 50 69 Tie:
Goodwill 12 12 Underlying equity Jan 1 Dec 31
Unrealized profit in Capital stock 100 100
inventory (5) Retained earnings 80 90
Subtotal (split 70:30) 276 Goodwill 12 12
Unrealized profit on land (10) Total 192 202
Total 262 266 Split 60%:20%:20%
Split 70%:30% Investment in Tie
Investment in Sal (70%) 183.4 183.2 (60%) 115.2 121.2
* (70% x 276) - 10 = 183.2 Investment in Tie
(20%) 38.4 40.4
Noncontrolling interest
(30%) 78.6 82.8 Noncontrolling
interest (20%) 38.4 40.4
* 30% x 276 = 82.8
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 Connecting Affiliates
Pet Sal Tie CI NCI Total
Separate income 70.0 35.0 20.0 125.0
Unrealized $5 profit on
inventory (upstream) (5) (5)
Unrealized $10 gain on land
(downstream) (10) (10)
Allocate:
Tie  60% Pet: 20% Sal: 20% NCI 12.0 4.0 (20.0) 4.0
Sal  70% Pet: 30% NCI 23.8 (34.0) 10.2
Pet 100% CI (95.8) 95.8
Consolidated net income 95.8 14.2 110.0
Dividend distributions:
Tie  60% Pet: 20% Sal: 20% NCI 6 2 (10) 2
Sal  70% Pet: 30% NCI 14 (20) 6
Pet  100% CI (40) 40
Sal's Income from Tie = $4.0
Pet's Income from Tie = $12.0
Pet's Income from Sal = $23.8 - $10 unrealized gain = $13.8
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 Connecting Affiliates
Jurnal dalam kertas kerja (Worksheet Entries) konsolidasi
Sales (-R, -SE) 15.0
Cost of sales (-E, +SE) 15.0
Cost of sales (+E, -SE) 5.0
Inventory (-A) 5.0
Gain on land (-Ga, -SE) 10.0
Plant assets (-A) 10.0
Income from Tie (-R, -SE) 16.0
Dividends (+SE) 8.0
Investment in Tie (-A) 8.0
both Sal's 20% and Pet's 80%
NCI share, Tie (-SE) 4.0
Dividends (+SE) 2.0
NCI, Tie (+SE) 2.0
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 Connecting Affiliates
Income from Sal (-R, -SE) 13.8
Investment in Sal (+A) 0.2
Dividends (+SE) 14.0
including 10 unrealized gain on land
NCI share, Sal (-SE) 10.2
Dividends (+SE) 6.0
NCI, Sal (+SE) 4.2
Capital stock, Tie (-SE) 100.0
Retained earnings, Tie (-SE) 80.0
Goodwill (+A) 12.0
Investment in Tie (Sal & Pet’s) (-A) 153.6
NCI, Tie (+SE) 38.4
Capital stock, Sal (-SE) 200.0
Retained earnings, Sal (-SE) 50.0
Goodwill (+A) 12.0
Investment in Sal (-A) 183.4
NCI, Sal (+SE) 78.6
 Connecting Affiliates
Consolidation Worksheet
Income statement: Pet Sal Tie DR CR Consol
Sales 200.0 150.0 100.0 15.0 435.0
Income from Sal 13.8 13.8 0.0
Income from Tie 12.0 4.0 16.0 0.0
Gain on land 10.0 10.0 0.0
Cost of sales (100.0) (80.0) (50.0) 5.0 15.0 (220.0)
Other expenses (40.0) (35.0) (30.0) (105.0)
NCI share, Sal 10.2 (10.2)
NCI share, Tie 4.0 (4.0)
Controlling interest
share 95.8 39.0 20.0 95.8
9-16
Statement of retained Pet Sal Tie DR CR Consol
earnings:
Beginning retained 223.0 50.0 80.0 80.0 223.0
earnings 50.0
Add net income 95.8 39.0 20.0 95.8
8.0
Deduct dividends (40.0) (20.0) (10.0) 2.0 (40.0)
14.0
6.0
Ending retained 278.8 69.0 90.0 278.8
earnings
Balance sheet: Pet Sal Tie DR CR Consol
Other assets 50.6 19.6 85.0 155.2
Inventories 50.0 40.0 15.0 5.0 100.0
Plant assets, net 400.0 200.0 100.0 10.0 690.0
Investment in Sal (70%) 183.2 0.2 183.4 0.0
Investment in Tie (60%, 121.2 40.4 8.0 0.0
20%) 153.6
Goodwill 12.0 24.0
12.0
Total 805.0 300.0 200.0 969.2
 Connecting Affiliates

Pet Sal Tie DR CR Consol

Liabilities 126.2 31.0 10.0 167.2
Capital stock 400.0 200.0 100.0 100.0
200.0 400.0
Retained 278.8 69.0 90.0 278.8
earnings
2.0
Noncontrolling 4.2 123.2
interest 38.4
78.6
Total 805.0 300.0 200.0 969.2
2. Mutual Holdings
 Mutual Holdings
Jenis-jenis kepemilikan mutual (Mutual Holdings)

1. Parent mutually owned 2. Connecting affiliates

mutually owned
Parent
Parent
80% 10%
80% 20%
Subsidiary A 20%
Subsidiary A 40% Subsidiary B
Parent memiliki A 80% dan
entitas konsolidasi memiliki
10% saham biasa (common Parent memiliki A 80% dan B 20%.
stock) Parent dalam treasury Perusahan A memiliki B 40% and
Perusahaan B memiliki A 20% .
Persamaan simultan akan digunakan

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 Mutual Holdings
Pendekatan Mutual Holdings
 Dua pendekatan umum
• Treasury stock approach
• Conventional approach
 Jika saham perusahaan induk (parent) dimiliki oleh
perusahaan anak (subsidiary)
• Gunakan baik pendekatan saham treasury maupun
pendekatan konvensional
 Jika saham perusahaan anak dimiliki secara mutual
• Gunakan hanya conventional approach

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 Mutual Holdings
Treasury Stock or Conventional
Treasury stock method
• Perlakukan saham induk yang dimiliki secara mutual (parent
mutually held stock) sebagai treasury stock
• Induk memiliki lebih sedikit saham yang beredar
• Interdependensi diasumsikan dieliminasi dengan perlakuan
treasury stock
Conventional method for mutual holding
• Perlakukan saham induk sebagai penerbitan yang dihentikan
(retired)
• Induk memiliki lebih sedikit saham yang beredar
• Membuat persamaan simultan
• Secara penuh mengakui interdependensi
 Mutual Holdings
Parent Stock Mutually Held
Satu atau lebih afiliasi memiliki saham perusahaan
induk:
 Treasury stock method
• Mengakui saham treasury sebesar harga perolehan (cost)
investasi anak di saham induk (subsidiary's investment in
parent)
• Mengurangi “Investment in subsidiary”
 Conventional method
• Induk memperlakukan saham yang dimiliki anak sebagai
dihentikan, mengurangi modal saham dan tambahan modal
yang disetor (additional paid in capital) atau laba ditahan
(retained earning)
• Mengurangi “Investment in subsidiary”
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 Mutual Holdings
Komparasi
 Kedua metode sama-sama mengurangi
• “Income from Subsidiary” untuk dividen induk yang
dibayarkan ke anak.
 Metode menghasilkan perbedaan:
• Akun ekuitas
 Treasury stock
 Retired common stock
• Consolidated retained earnings
• Noncontrolling interest

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 Mutual Holdings
Treasury Stock Method - Data
Pam owns 90% of Sun acquired at fair value equal to
cost, no goodwill. Sun owns 10% of Pam. At the start of
2016:
• Investment in Sun, $297
Lihat Ch.9 Beams, p.310
• Noncontrolling interest, $33
• Sun's total stockholders' equity
• Common stock $200
• Retained earnings $130
During 2016,
• Separate income: Pam $60, Sun $40
• Dividends: Par $30, Sun $20

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 Mutual Holdings
Pam Uses Treasury Stock Method
Allocations of income to CI and NCI:
Pam Sun CI NCI Total
Separate Income 60.0 40.0 100.0
Dividend income (3.0) 3.0
Allocate:
Sun 90% Pam: 10%
NCI 38.7 (43.0) 4.3
Pam 100% CI (95.7) 95.7
Totals 95.7 4.3 100.0
• Controlling interest share $95.7
• Noncontrolling interest share $4.3
• Par's Income from Sal $38.7 – 3.0 = $35.7 9-26
 Mutual Holdings
Jurnal Pencatatan Pam - Equity Method
Cash (+A) 18.0
Investment in Sun (-A) 18.0
for dividends
Investment in Sun (+A) 38.7
Income from Sun (+R, +SE) 38.7
for income
Income from Sun (-R, -SE) 3.0
Dividends (+SE) 3.0
for Pam dividends paid to Sun
Pada jurnal terakhir, Pam dapat mencatat dividennya secara langsung sbb:
Dividends (-SE) 27.0
Income from Sun (-R, -SE) 3.0
Cash (-A) 30.0
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 Mutual Holdings
Worksheet Entries
Income from Sun (-R, -SE) 35.7
Dividends (+SE) 18.0
Investment in Sun (-A) 17.7
Noncontrolling interest share (-SE) 4.3
Dividends (+SE) 2.0
Noncontrolling interest (+SE) 2.3
Common stock (-SE) 200.0
Retained earnings (-SE) 130.0
Investment in Sun (-A) 297.0
Noncontrolling interests (+SE) 33.0
Treasury stock (-SE) 70.0
Investment in Pam (-A) 70.0
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 Mutual Holdings
Parent Mutually Held - Data
Part owns 90% of Salt acquired at fair value equal to
cost, no goodwill. Salt owns 10% of Part. At the
start of 2012: Investment and
• Investment in Salt, $226,154 noncontrolling interest
• Investment in Part, $70,000 = 226,154 + 33,846
• Noncontrolling interest, $33,846
equals underlying equity
• Salt's total stockholders' equity less mutual holding
was $200,000 CS and $130,000 RE
= 200,000+130,000-70,000.
During 2012,
• Separate income: Part $60,000, Salt $40,000
• Dividends: Part $30,000 (including $3,000 paid to Salt),
Salt $20,000

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 Mutual Holdings
Part Uses Conventional Method
Allocation information:
Part Salt CI NCI Total
Separate Income $60,000 $40,000 $100,000
Salt's allocation .90S .10S
Part's allocation .10P .90P

Equations: Solved, substitusi persamaan

P = $60,000 + .9S ke-2 ke persamaan ke-1:
S = $40,000 + .1P P = 105,495
CI share = .9P S = 50,550
NCI share = .1S CI share = 94,945
NCI share = 5,055
Conventional method is analogous to reciprocal cost allocation method.
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 Mutual Holdings
Note :
Results:
P = 105,495
S = 50,550
CI = 94,945
NCI = 5,055

• CI + NCI = $100,000, the total separate income

• Part's Income from Salt = .9S - .1P = $34,945
90% of Sal's income – 10% mutual holding
• CI = Part's separate income + Income from Salt
$60,000 + $34,945 = $94,945 (as a check!)
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 Mutual Holdings
Jurnal Part - Equity Method
Cash (+A) 18,000
Investment in Salt (-A) 18,000
for dividends
Investment in Salt (+A) 34,945
Income from Salt (R, +SE) 34,945
for income
Investment in Salt (+A) 3,000
Dividends (-SE) 3,000
for Part dividends paid to Salt

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 Mutual Holdings
Worksheet Entries - Conventional
Income from Salt (-R, -SE) 34,945
Dividend Income (-R, -SE) 3,000
Dividends (+SE) 18,000
Investment in Salt (-A) 19,945
Noncontrolling interest share (-SE) 5,055
Dividends (+SE) 2,000
Noncontrolling interest (+SE) 3,055
Common stock (-SE) 200,000
Retained earnings (-SE) 130,000
Investment in Salt (-A) 296,154
Noncontrolling interests (+SE) 33,846
Investment in Salt (+A) 70,000
Investment in Part (-A) 70,000
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 Mutual Holdings

Subsidiary Stock Mutually Held

Subsidiaries hold stock in each other
• Use conventional approach
• Treasury stock method is not appropriate
• It is not parent's stock
• Subsidiary stock is eliminated in consolidation

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 Mutual Holdings
Subsidiary Mutual Holdings
Pal owns 80% of Set acquired at book value plus $25,000
goodwill. Set owns 70% of Ton acquired at book value plus
$10,000 goodwill. Ton owns 10% of Set, cost method.
At the start of 2013:
• Investment in Set (by Pal, 80%), $340,000
• Investment in Ton (by Set, 70%), $133,000
• Investment in Set (by Ton, 10%), $40,000
• Noncontrolling interest, $102,000
For 2013:
Pal Set Ton
Separate income 112,000 51,000 40,000
Dividends 50,000 30,000 20,000
Lihat Ch.9 Beams, p.318
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 Mutual Holdings
Alokasi laba bersih ke CI dan NCI
Allocation Info. Pal Set Ton CI NCI Total
Separate income 112,000 51,000 40,000 203,000
Ton's allocation .7T .3T
Set's allocation .8S .1S .1S
Pal's allocation 1.0P
Persamaan: Solve, substitusi persamaan 2 ke
P = 112,000 + .8S persamaan 3 (atau 3 ke 2)
S = 51,000 + .7T T = 48,495
T = 40,000 + .1S S = 84,946
CI = 1P P = 179,957
NCI = .3T + .1S CI share = 179,957
NCI share = 14,548 + 8,495 = 23,043 9-36
 Mutual Holdings
A Look at the Results
Results:
T = 48,495
S = 84,946
P = 179,957
CI share = 179,957
NCI share = 14,548 + 8,495 = 23,043
Consolidated income
• CI and NCI shares = 203,000, total separate income
Intercompany income
• Pal's Income from Set = .8S = 67,957
• Set's Income from Ton = .7T = 33,946
• Ton's Dividend income = .1(Set's dividends) = 3,000
Individual reported income
• Pal's separate income + income from Set = 179,957
• Set's separate income + income from Ton = 84,946
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END