BAB 14

FOREIGN CURRENCY FINANCIAL STATEMENTS

• Bab ini membahas tentang transaksi perusahaan multinasional dengan kegiatan
operasional lintas negara
• Konsekuensinya adalah adanya transaksi yang dipengaruhi oleh nilai tukar antara negara
(exchange rates) yang kemudian akan mempengaruhi pelaporan keuangan.
• Karena beroperasi antar negara, maka ada pengelompokan beberapa jenis currencies
(mata uang):
1) Functional currencies:
Mata uang utama yang digunakan dalam kegiatan perekonomian primer, mata
uang ini yang diterima dari customer dan digunakan untukn membayar
kewajibannya (membeli bahan baku, membayar gaji dan upah karyawan).
Penentuan jenis mata uang yang digunakan sebagai functional currency ini
ditentukan berdasarkan management judgement.
Contoh: P yang berpusat di Amerika Serikat (USD) memiliki anak perusahaan
yaitu S yang beroperasional di Indonesia. S menggunakan mata uang Rupiah
sebagai functional currency.
2) Foreign Currencies
Semua mata uang diluar functional currencies.
Contoh : JPY dan AUD merupakah foreign currency dari sudut pandang S
3) Reporting Currency
Mata uang yang digunakan dalan menyusun laporan keuangan konsolidasi.
Contoh : karena P berpusat di Amerika, maka USD adalah reporting currency.
• Selain ketiga pengelompokan mata uang tersebut, ada beberapa istilah:
1) Local currencies: mata uang yang berlaku di negara tersebut. Local currencies
belum tentu menjadi functional currency.
2) Spot rate : nilai tukar mata uang pada tanggal terjadinya transaksi
3) Closing rate : nilai tukar mata uang pada akhir tahun ( 31 Desember)
4) Average rate : nilai tukar rata-rata dalam tahun tersebut

Foreign Currency → Functional Currency → Reporting Currency

• Foreign Currency to Functional Curency (Remeasurement)

Contoh : S ( IDR) melakukan pembelian bahan baku dari Malaysia (MYR), melakukan
pembelian tanah di Australia ( AUD) dan mengambil pinjaman dari perusahaan
permodalan Jepang (JPY).
Monetary : Aset atau liabilitas yang memiliki nilai tetap (fixed)
contoh : Cash, A/R, A/P → closing rate
Non Monetary : Aset dan ekuitas yang tidak dapat dengan cepat dikonversi ke kas
Contoh. : Inventory, plan asset
→ historical cost (tanggal transaksi) : Common Stock

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 Apabila terdapat perbedaan exchange rate saat tanggal transaksi dengan akhir tahun, maka
akan terdapat gain atau loss yang muncul di Income Statement
• Functional Currency to Reporting Currency (Translation)
Jenis Laporan Kelompok Akun
Balance Sheet Aset → closing rate
Liabilitas → closing rate
Ekuitas :
Common Stock → rate pada tanggal transaksi (penerbitan)/historis
R/E → not translated
Income Average rate
Statement
Apabila terdapat perbedaan exchange rate saat tanggal transaksi dengan akhir tahun, maka
akan terdapat gain atau loss yang muncul di Other Comprehensive Income (Balance Sheet)
dicatat sebagai Equity Adjustment from Translation (Equity Account)

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 Contoh Soal:
A. Mengubah Foreign Currency ke Functional Currency
Pelican Corporation, a US company, owns 100% of Swiftlet Corporation, an Australian
company. Swiftlet's inventory was acquired on the following dates (amounts are stated in
Australian dollars):
Nov. 01, 20X1 Purchased inventory on account for A$40,000
Jan. 01, 20X2 payment of inventory on account

Exchange rates for the Australian dollar on various dates are:

Nov. 01, 20X1 1A$ = $.500 Jan. 01, 20X2 1A$ = $.540
Dec. 31, 20X1 1A$ = $.530 Dec. 31, 20X2 1A$ = $.490
20X1 avg. rate 1A$ = $.515 20X2 avg. rate 1A$ = $.510

Required:
1. Determine the amount will affect the profit or loss on 20X1
2. Determine the amount will affect the profit or loss on 20X2
Jawab:
1 1 Nov 20X1 – Pencatatan pembelian inventory secara kredit
Inventory (A$40,000 x $0.5) $20,000
Account Payable $20,000
31 Des 20X1 – Penyesuaian perubahan exchange rate
Loss on exchange rate $1200
Account Payable (( $0.5-$0.53) x A$40,000 $1200
2. 1 Jan 20X2 – Pembayaran hutang
Account Payable (A$40,000 x $ 0.53) $21,200
Loss on exchange rate $ 400
Cash (A$40,000 x $0.54) $21,600
B. Business Combination (Perbedaan antara FV dan BV)
On January 1, 20X5, Pegler Corporation, a US company, acquired 100% of Selmic
Corporation of Canada, paying an excess of 90,000 Canadian dollars over the book value of
Selmic’s net assets. The excess was allocated to undervalued equipment with a three-year
remaining useful life. Selmic’s functional currency is the Canadian dollar. Exchange rates for
Canadian dollars for 20X5 are:
January 1, 20X5 $.77
Average rate for 20X5 .75
December 31, 20X5 .73
Required:
1. Determine the depreciation expense stated in US dollars on the excess allocated to
equipment.for 20X5
2. Determine the unamortized excess allocated to equipment on December 31, 20X5.
3. If Selmic’s functional currency was the US dollar, what would be the depreciation
expense on the excess allocated to the equipment for 20X5?

Answer:
1. Depreciation expense in 20X5 (average rate)
C$90,000/3 years x $.75/C$ = $22,500 depreciation expense

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 2. Unamortized excess at December 31, 20X5 (closing rate)
C$90,000 x 2/3 x $.73/C$ = $43,800 unamortized excess on equipment
3. Remeasured depreciation expense
(foreign entity’s books not maintain in the functional currency)
C$90,000 x $.77/C$ = $69,300 excess
$69,300/3 years = $23,100 depreciation expense

C. Translating the Foreign Subsidiary’s Adjusted Trial Balance

Sebelum laporan keuangan foreign subsidiary dilakukan konsolidasi dengan laporan keuangan
parent, maka akan dilakukan translation.
Contoh:
Peake Corporation, a US company, formed a British subsidiary on January 1, 20X5 by
investing £450,000 in exchange for all of the subsidiary’s no-par common stock. The British
subsidiary, Searle Corporation, purchased real property on April 1, 20X5 at a cost of £500,000,
with £100,000 allocated to land and £400,000 allocated to a building. The building is depreciated
over a 40-year estimated useful life on a straight-line basis with no salvage value. The British
pound is Searle’s functional currency and its reporting currency. The British economy does not
have high rates of inflation. Exchange rates for the pound on various dates were:

January 01, 20X5 = 1£ = $1.50

April 01, 20X5 = 1£ = $1.51
December 31, 20X5 = 1£ = $1.58
20X5 average rate = 1£ = $1.56
Searle's adjusted trial balance is presented below for the year ended December 31, 20X5.
In Pounds
Debits:
Cash £ 220,000
Accounts receivable 52,000
Inventory 59,000
Building 400,000
Land 100,000
Depreciation expense 7,500
Other expenses 110,000
Cost of good sold 220,000
Total debits £ 1,168,500
Credits
Accumulated depreciation £ 7,500
Accounts payable 111,000
Common stock 450,000
Retained earnings 0
Equity adjustment 0
Sales revenue 600,000
Total credits £ 1,168,500

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Required: Prepare Searle's:
1. Translation working papers;
2. Translated retained earnings
3. Translated balance sheet.
Answer:
Searle Corporation
Translation Working Papers
Debits
Cash 220,000 x $1.58 = $ 347,600
Accounts receivable 52,000 x $1.58 = 82,160
Inventory 59,000 x $1.58 = 93,220
Building 400,000 x $1.58 = 632,000
Land 100,000 x $1.58 = 158,000
Depreciation expense 7,500 x $1.56 = 11,700
Other expenses 110,000 x $1.56 = 171,600
Cost of goods sold 220,000 x $1.56 = 343,200

Total debits $ 1,839,480

Credits
Accumulated depreciation 7,500 x $1.58 = $ 11,850
Accounts payable 111,000 x $1.58 = 175,380
Common stock 450,000 x $1.50 = 675,000
Sales revenue 600,000 x $1.56 = 936,000
Retained earnings 0
Total credits $ 1,798,230

Credit differential $ 41,250

Searle Corporation
Translated Retained Earnings
For the Year Ended December 31, 20X5
Sales revenue $ 936,000

Expenses:
Cost of goods sold ( 343,200 )
Depreciation expense ( 11,700 )
Other expenses ( 171,600 )

Net income $ 409,500

Retained Earnings Januari 1
Less :
Dividen
Retained Earnings December 31, 20X5 $ 409,500

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 Searle Corporation
Translated Balance Sheet
December 31, 20X5

Cash $ 347,600
Accounts receivable 82,160
Inventory 93,220
Building-net 620,150
Land 158,000
Total assets $ 1,301,130

Accounts payable $ 175,380

Common stock 675,000
Retained earnings 409,500
Accumulated comprehensive income: Equity 41,250
Total liabilities & equities $ 1,301,130

D. Equity Method and Consolidation

On January 1, 20X4, Pearl Corporation, a US firm, acquired a 70% interest in Segar
Corporation, a foreign company, for $120,000, when Segar’s stockholders’ equity consisted
of 300,000 local currency units (LCU) and retained earnings of 100,000 LCU. At the time of
the acquisition, Segar’s assets and liabilities were fairly valued except for a patent that did not
have any recorded book value. All excess purchase cost was attributed to the patent, which
had an estimated economic life of 10 years at the date of acquisition. The exchange rate for
LCUs on January 1, 20X4 was $.40.

A summary of changes in Segar’s stockholders’ equity during 20X4 and the exchange rates
for LCUs is as follows:
LCU Rates Dollars
Stockholders’ equity
1/1/X4 400,000 $ .40C $ 160,000
Net income 100,000 .42A 42,000
Dividends 12/1/X4 ( 50,000 ) .43C ( 21,500 )
Equity adjustment 17,500
Stockholders’ equity
12/31/X4 450,000 .44C $ 198,000

Required: Determine the following:

1. Fair value of the patent from Pearl’s investment in Segar on January 1, 20X4.
2. Patent amortization for 20X4.
3. Unamortized patent at December 31, 20X4.
4. Equity adjustment from the patent.

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5. Income from Segar for 20X4.
6. Investment in Segar balance at December 31, 20X4.

1. Excess → Patent
Cost of 70% interest $ 120,000
Book value acquired 400,000 LCU x $.40 x 70% = (112,000)
Patent in dollars $ 8,000
Patent in LCU = $8,000/$.40 per LCU = 20,000
2. Patent amortization for 20X4
Patent: 20,000 LCU/10 years = 2,000 LCU per year
2,000 LCU per year x $.42 equals amortization of $ 840
3. Unamortized patent
Patent (20,000 LCU – 2,000 LCU) x $.44 = $ 7,920
4. Equity adjustment from patent
Beginning patent (from Req. 1) $ 8,000
Patent amortization (from Req. 2) $ (840)
Subtotal $7,160
Ending patent 18,000 LCU x $.44 $ 7,920
Equity adjustment $ 760
5. Income from Segar
Equity in income ($42,000 x 70%) $ 29,400
Less: Patent amortization (840)
Income from Segar $ 28,560
6. Investment in Segar balance at December 31, 20X4
Cost, January 1, 20X4 $ 120,000
Add: Income for 20X4 (from Req. 5) 28,560
Less: Dividends ($21,500 x 70%) ( 15,050 )
Add: Equity adjustment from patent (from Req. 4) 760
Add: Equity adjustment from translation ($17,500 x 70%) 12,250
Investment balance, December 31, 20X4 $ 146,520

Check:
Book value: $198,000 x 70% = $ 138,600
Unamortized patent (from Req. 3) 7,920
Investment balance $ 146,520

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Latihan Soal 1

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Latihan Soal 2

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 BAB 15
SEGMENT AND INTERIM FINANCIAL REPORTING

Aggregation & Materiality Test

Reportable
Segment

Internal Decision Making & Performance-

Evaluation Review by CODM

➢ Pelaporan segmen operasional merupakan salah satu bentuk pengungkapan pelaporan

keuangan.
➢ Metode yang digunakan dalam pelaporan segmen yaitu melalui pendekatan manajemen
(management approach)
➢ Unit usaha dalam perusahaan diidentifikasi sebagai segmen yang bisa dilaporkan melalui
aggregation dan materiality test.
a) Aggregation : mengelompokkan yang memiliki karakteristik serupa
(barang/jasa, proses produksi, tipe konsumen, metode distribusi, dll)
b) Materiality Test :
• Revenue test --- total penjualan intersegment maupun dari konsumen luar minimal
mencapai >=10% dari total pendapatan seluruh segmen
• Laba atau rugi segmen minimal mencapai >=10% dari total laba atau rugi
• Identifiable asset mencapai >=10% dari total asset dari segmen operasional
* apabila tidak lolos dalam tahap tes material, maka akan dilakukan addional test yaitu
>= 75% dari total pendapatan eksternal.
➢ Pengungkapan dalam pelaporan segmen:
a) Profit or Loss Information
• Jumlah pendapatan dari pelanggan eksternal
• Jumlah pendapatan dari segmen operasional lainnya
• Pendapatan bunga
• Beban bunga
• Depresiasi, deplesi dan beban amortisasi , dll.
b) Measurement, contoh : basis akuntansi dari transaksi antar segmen.
➢ Enterprise –Wide Disclosures
Menyediakan informasi yang belum tersedia dalam laporan segmen.
a) Products and Services : mengungkapkan pendapatan dari barang atau jasa yang serupa

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 b) Geographic Information : mengungkapkan pendapatan dari dalam dan luar negeri
c) Major Customer : mengungkapkan mayoritas konsumen yang melakukan pembelian
➢ Pelaporan Interim
• Menyediakan informasi operasional perusahaan dalam periode kurang dari 1 tahun
• Pelaporan interim merupakan bagian yang tidak terpisahkan dari laporan tahunan.
• Perusahaan menggunakan kebijakan akuntansi yang sama antara pelaporan interim
dengan plaporan tahunan.

Contoh Soal :

The following data relate to Plover Corporation’s industry segments:

Sales to Inter-
Industry Segment External segment Segment
Customers Sales Assets

Oil Exploration $ 40,000 $ 156,000

Refinery 120,000 360,000
Plastics 10,000 $ 10,000 60,000
Chemicals 110,000 80,000 570,000
Solar Power 10,000 36,000 138,000
Totals $ 290,000 $ 126,000 $ 1,284,000
Required:

1. Which of Plover's operating segments would be considered reporting segments under the “revenue” test?
2. Which of Plover's operating segments would be considered reporting segments under the “asset” test?

Jawab :
1. Revenue Test
Threshold : 10% x (290.000 + 126.000) = 41.600 , maka reportable segment adalah
refinery; chemicals dan solar power.
2. Asset Test
Threshold: 10% x 1.284.000 = 128.400 , maka reportable segment adalah oil exploration,
refinery, chemicals, dan solar power

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Latihan Soal 1 :
For internal decision-making purposes, Falcon Corporation identifies its industry segments by
geographical area. For 2006, the total revenues of each segment are provided below. There are
no intersegment revenues.

Total Revenues
Canada $ 22,000,000
United States 76,000,000
Mexico 10,000,000
South America 9,000,000
China 2,000,000
Russia 1,500,000
Australia 3,000,000
European Union 12,000,000
Other European 14,000,000
Total revenues $ 149,500,000

Required:
1. Which operating segments will be considered reporting segments based on the revenue
test?
2. What is the test value for determining whether a sufficient number of segments are
reported?
3. What will be the minimum number of segments that must be reported?

Latihan Soal 2:
Pratincole has the following 2005 financial data:
Consolidated revenue per income statement $1,800,000
Intersegment sales 270,000
Intersegment transfers 120,000
Combined revenues of all segments 2,190,000

Pratincole should add segments if

a) the sum of its segments external revenue does not exceed 1,350,000
b) the sum of its segments external revenue does not exceed 1,620,000
c) the sum of its segments revenue including intersegment revenue does not
exceed 1,643,000
d) the sum of its segments revenue including intersegment revenue does not
exceed 1,971,000

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 BAB
JOINT VENTURES

➢ Joint Ventures (JV) merupakan bentuk kerjasama bisnis yang bersifat sementara dari
beberapa sekutu
➢ Perbedaan antara JV dengan Persekutuan (Partnership)
JV Partnership
Lingkup usaha lebih terbatas hanya untuk Lingkup usaha tidak terbatas, bias lebih
usaha tertentu dari satu jenis usaha
Waktunya tertentu, sampai tujuan Waktunya tidak tertentu
pembentukannya tercapai
➢ Karena kerjasama bisnisnya bersifat sementara, maka JV tidak membutuhkan Laporan
Keuangan secara lengkap, laporan keuangan yang ada digunakan untuk melakukan control
➢ Jenis Pembukuan yang dilakukan untuk menghasilkan laporan keuangan:
a) Terpisah : JV memiliki penbukuan tersendiri dan terpisah dari sekutunya
b) Tidak Terpisah : pembukuan JV gabung menjadi satu dengan pembukuan salah satu
sekutu yang menjadi managing partner, sementara sekutu lainnya juga mencatat
setiap transaksi yang berpengaruh terhadap rekening JV
➢ Ilustrasi Kasus :
Roo, Mary dan Allen sepakat untuk membentuk usaha patungan, dengan persetujuan
sebagai berikut:
1. Roo sebagai pengelola usaha patungan (managing partner)
2. Memberi komisi 3% dari penjualan kepada Roo yang bertugas sebagai pengelola usaha
patungan
3. Membayar uang kas masing-masing sebesar 2.000 kepada Roo, Mary dan Allen.

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No Transaksi Metode Pencatatan Terpisah Metode Pencatatan Tidak Terpisah
Pembukuan JV
Persediaan 40.000
Modal Roo 40.000
Roo Roo
Investasi dalam JV 40.000 JV 40.000
Persediaan 40.000 Persediaan 40.000
1 Roo menyerahkan persediaan senilai 40.000
Mary Mary
- no entry - JV 40.000
Roo 40.000
Allen Allen
- no entry - JV 40.000
Roo 40.000
Pembukuan JV
Persediaan 25.000
Kas 5.000
Modal Mary 30.000
Roo Roo
- no entry - JV 25.000
Kas JV 5.000
Mary menyerahkan persediaan senilai 25.000 dan Mary 30.000
2 Mary Mary
kas 5.000
Investasi dalam JV 30.000 JV 25.000
Persediaan 25.000 Roo 5.000
Kas 5.000 Persediaan 25.000
Kas 5.000
Allen Allen
- no entry - JV 25.000
Kas JV 5.000
Mary 30.000
Pembukuan JV
Kas 30.000
Modal Allen 30.000

Roo Roo
- no entry - Kas JV 30.000
3 Allen menyerahkan kas senilai 30.000 Allen 30.000
Mary Mary
- no entry - Roo 30.000
Allen 30.000
Allen Allen
Investasi dalam JV 30.000 Roo 30.000
Kas 30.000 Kas 30.000
Pembukuan JV
Persediaan 25.000
Kas 25.000

Roo Roo
- no entry - JV 25.000
4 Membeli barang dagangan 25.000 Kas JV 25.000
Mary Mary
- no entry - JV 25.000
Roo 25.000
Allen Allen
- no entry - JV 25.000
Roo 25.000

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No Transaksi Pembukuan
Metode JV
Pencatatan Terpisah Metode Pencatatan Tidak Terpisah
Kas 110.000
Penjualan 110.000
HPP 90.000
Persediaan 90.000

Roo Roo
5 Menjual barang dagangan senilai 110.000 - no entry - Kas JV 110.000
JV 110.000
Mary Mary
- no entry - Roo 110.000
JV 110.000
Allen Allen
- no entry - Roo 110.000
JV 110.000
Pembukuan JV
Beban Penjualan 2.000
Kas 2.000

Roo Roo
- no entry - JV 2.000
6 Membayar biaya penjualan 2.000 Kas JV 2.000
Mary Mary
- no entry - JV 2.000
Roo 2.000
Allen Allen
- no entry - JV 2.000
Roo 2.000
Laba bersih usaha patungan diikhtisarkan dan Jurnal Penutup
ditutup pada akun modal masing-masing sekutu Pembukuan JV
Penjualan 110.000
Laba Bersih = Penjualan - HPP - B. Penjualan Beban Penjualan 2.000
= 110.000 - 90.000 - 2.000 HPP 90.000
= 18.000 Ikhtisar L/R 18.000

Ikhtisar L/R 18.000

Modal Roo 8.780
Rincian Pembagian Pendapatan Sekutu Modal Mary 4.610
Perhitungan komisi untuk Roo : 3% x 110.000 = 3.300 Modal Allen 4.610
Pemberian kas kepada semua sekutu
3 x 2000 = 6.000
Total laba = 18.000
Laba yang dibagikan kepada sekutu = 18.000-3.300-
7 6.000 = 8.700
Pembagian laba R=60%, M=30% , A=30% Roo Roo
Roo = 8.700 x 40% =3.480 Investasi dalam JV 8.780 JV 18.000
Mary = 8.700 x 30% = 2.610 Pendapatan dari Investasi dalam JV 8.780 Pendapatan dari JV 8.780
Allen = 8.700 x 30% = 2.610 Mary 4.610
Allen 4.610
Total Pendapatan Mary Mary
Roo = 3.300 +2.000+3.480 =8.780 Investasi dalam JV 4.610 JV 18.000
Mary=2.000 + 2.610=4.610 Pendapatan dari Investasi dalam JV 4.610 Roo 8.780
Allen=2.000 + 2.610=4.610 Pendapatan dari JV 4.610
Allen 4.610
Allen Allen
Investasi dalam JV 4.610 JV 18.000
Pendapatan dari Investasi dalam JV 4.610 Roo 8.780
Mary 4.610
Pendapatan dari JV 4.610

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No Transaksi Metode Pencatatan Terpisah Metode Pencatatan Tidak Terpisah
Membagikan kas dalam penyelesaian JV Pembukuan JV
^ modal awal + pendapatan yang diterima Modal Roo 48.780
Modal Mary 34.610
Roo = 40.000 + 8.780 =48.780 Modal Allen 34.610
Mary = 30.000 + 4.610 = 34.610 Kas 118.000
Allen = 30.000 + 4.610 =34.610
Roo Roo
Kas 48.780 Kas 48.780
Investasi dalam JV 48.780 Mary 34.610
Allen 34.610
8 Kas JV 118.000
Mary Mary
Kas 34.610 Roo 48.780
Investasi dalam JV 34.610 Kas 34.610
Allen 34.610
JV 118.000
Allen Allen
Kas 34.610 Roo 48.780
Investasi dalam JV 34.6100 Mary 34.610
Kas 34.610
JV 118.000

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