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Intermediate Accounting, 11th ed.

Kieso, Weygandt, and Warfield

Chapter 18: Revenue


Recognition

Chapter 18: Revenue


Recognition
After studying this chapter, you should
be able to:
1.

2.

3.

Menerapkan Prinsip pengakuan


pendapatan.
Menguraikan masalah akuntansi yang
melibatkan pengakuan pendapatan pada
saat penjualan.
Menerapkan metode persentase
penyelesaian untuk kontrak jangka
panjang.

Chapter 18: Revenue


Recognition
4. Metode kontrak selesai untuk
kontrak jangka panjang.
Mengidentifikasi ak. yg tepat utk
kerug. atas kontrak jgk. panjang.
Metode ak. Penjl. Cicilan.
Metode Ak. Pemulihan biaya.

Pedoman Revenue Recognition


The revenue recognition principle provides that
revenue is recognized:
when it is earned, and
when it is realized or realizable

Revenue is earned Proses menghasilkan laba telah


selesai atau sebenarnya telah selesai.
Revenue is realized Apbl brg. Dan jasa ditukar dg kas
atau klaim atas kas/piut.
Revenue is realizable apbl aktiva yg diterima dlm
pertukaran segera dpt dikonversi menjadi kas atau
klaim atas kas dg jumlah yg diketahui.

Four Types of Revenue


Transactions
Pendptn dr penjualan produk diakui pd tgl

penjln., yg biasanya diinterpretasikan sbg


tgl penyerahan kpd pelanggan.
Pendptn. dari pemberian jasa diakui ketika
jasa2 itu telah dilaksanakan dan dpt
ditagih.
Pendptn. dari mengizinkan pihak lain utk
menggunakan aktiva, co. bunga, sewa, dan
royalti, diakui sesuai dg berlalunya waktu
atau ketika aktiva perushn. Itu digunakan.
Pendptn. Dr. pelepasan aktiva selain
produk diakui pd tgl. Penjualan.

Revenue Recog.
Diklasifikasikan menurut
Sifat Transaksi

Revenue Recognition at
Point of Sale(Pd. saat
Penjualan)
Revenues from manufacturing
and selling are commonly
recognized at point of sale.
Exceptions:
1.
2.
3.

Penjln. dg. Perjanjian beli kembali.


Penjl. dg hak retur
Trade loading and channel stuffing

Revenue Recognition Before


Delivery
Dalam situasi tertentu pendptn diakui
sebelum penyelesaian. Co kontrak
konstruksi jgk pjg yg memungkinkan
penerapan metode % penyelesaian.
Two methods are available:
The percentage-of-completion method, and
The completed contract method

Revenue Recognition
Before Delivery
Long-Term Construction
Accounting Methods
Percentage-of-Completion
Method
1) Menetapkan hak2 yg dpt
dipaksakan antara 2 pihak
2) Pembeli dpt diharapkan
memenuhi semua kewajib
3) Kontraktor diharapkan dpt
memenuhi semua kewajib

Completed Contract
Method
1)Syarat metode % penyeleseaian tdk terpenuhi.
2)Mempunyai kontrak jangka
pendek.

Percentage-of-Completion:
Steps
1 Biaya yg terjadi sampai tgl ini = Percent complete
Estimasi akhir total biaya selesai
2 Estimated total revenue x Percent complete
= Revenue to be recognized to date
3 Total revenue to be recognized to date less Revenue
recognized in Periode seblm.nya = Current period revenue
4 Current Period Revenue less current costs = Gross profit

Percentage-ofCompletion: Entries
Mencatat Biaya Konstruksi
Konstruksi dlm Proses
Materials, cash, payables, etc.
Untuk mencatat Termin:
Piutang Usaha
Penagihan atas konstruksi dlm proses

Untuk Mencatat Hasil Penagihan:


Cash
Accounts receivable

Percentage-ofCompletion: Entries
Utk Mengakui pendptn dan laba kotor:
Construction in process (gross profit)
Construction expenses
Revenue

Utk mencatat Penyelesaian Kontrak:


Penagihan atas konstruksi dlm proses
Konstruksi dlm Proses

Percentage-ofCompletion: Example
Data: Contract price: $4,500,000
Start date:
July, 2003
Balance sheet date:
Given:

Estimated cost: $4,000,000


Finish: October, 2005
Dec. 31

2003

Biaya sampai tgl ini


$1,000,000
Estims. bi utk menyelesaikan $3,000,000
Termin selama th berjalan
$900,000
Kas yg ditagih selama th berjl $750,000

2004
$2,916,000
$1,134,000
$2,400,000
$1,750,000

2005
$4,050,000
$
-0$1,200,000
$2,000,000

What is the percent complete, revenue and gross


profit recognized each year?

Percentage-ofCompletion: Example
2003

2004

2005

% complete
to-date

1,000,000 = 25% 2,916,000= 72%


4,000,000
4,050,000

100 %

Revenue
recognized

4,500,000 * 25%
= 1,125,000

4,500,000 * 72% 4,500,000


less 1,125,000 less 3,240,000
= 2,115,000
= 1,260,000

Gross Profit
recognized

1,125,000 less
1,000,000
= 125,000

2,115,000 less
1,916,000
= 199,000

1,260,000
less 1,134,000
= 126,000

Kerugian Kontrak
Jangka Panjang
Dua Jenis Kerugian Kontrak Jgk Pjg:
1. Kerugian Periode Berjalan atas Kontrak yg
Menguntungkan. Apbl Terdapat kenaikan yg signifikan
dlm estimasi total biaya kontrak ttp kenaikan tsb. Tdk
menghilangkan semua laba kontrak. Hanya dlm metode
% penyelesaian saja kenaikan estimasi biaya itu
membutuhkan penyesuaian periode berjln.
2. Kerugian atas Kontrak yg merugikan
Estimasi biaya pd akhir periode berjln mungkin
menunjukkan bahwa kerugian akan terjadi ketika seluruh
kontrak berakhir.Kedua metode harus mengakui kerugian
dalam periode berjalan.

Pengakuan kerugian
dlm kontrak jangka
panjang
Percentage Method:

Kerugian periode ber


Jln atas kontrak yg
menguntungkan

Kerugian atas kontrak


Yg tidak menguntungkan

Recognize loss currently.


Completed method:
No adjustment needed.
Percentage Method:
Diakui pd periode berjln.
Completed method:
Diakui pd periode berjln.

Revenue Recognition
After Delivery
Apabila hasil penagihan atas hrg jual tdk dpt
dipastikan scr layak shg pengakuan
pendapatan akan ditangguhkan. Dua metode
yg biasanya dipakai utk menangguhkan
pengakuan pendapatanh sampai kas diterima
adalah:
1. Metode penjln Cicilan (installment sales method)
2. Metode Pemulihan Biayat (cost recovery method)

Kas diterima seblm penyerahan atau


pengalihan properti dan dicatat sbg simpanan
krn transaksi penjln itu belum selesai. Cara ini
disebut deposit method/Metode Simpanan

The Installment Sales


Method
Menekankan Pd diterimanya hsl penagihan

drpd penjualan.Metode ini mengakui laba dlm


periode2 diterimanya hasil penagihan dan
bukan dlm periode penjualan.
Pengakuan Laba ditangguhkan sampai
periode penagihan kas. Jadi, bukan penjualan
yg ditangguhkan sampai periode penagihan
yg diantisipasi dimasa datang dan kmd biaya
serta beban yg terkait ditangguhkan,
melainkan hanya proporsi laba kotornya yang
ditangguhkan

The Installment Sales


Method: Example
Given:

2003

Installment sales $200,000


Hrg pokok Pejln. $150,000
Gross Profit
$ 50,000
Cash received in:
from 2003 sales $ 60,000
from 2004 sales $ -0from 2005 sales $ -0- $

2004

2005

$250,000
$190,000
$ 60,000

$240,000
$168,000
$ 72,000

$ 100,000 $ 40,000
$ 100,000 $125,000
-0$ 80,000

Determine the realized and deferred gross profit.

The Installment Sales


Method: Example
Given:
Installment sales
Gross Profit
Gross profit rate

2003
$200,000
$ 50,000
25%

2004
2005
$250,000 $240,000
$ 60,000 $ 72,000
24%
30%

See next slide for realized and deferred gross


profit

The Installment Sales


Method: Example
2003
25%

2004
24%

2005
30%

Gross profit rate


Realized Gross Profit:
From 2003 sales:
Gross profit deferred
Realized in
$ 15,000
$ 25,000 $ 10,000
From 2004 sales:
Realized in:
$ -0- $ 24,000 $ deferred
30,000
From 2005 sales:
Realized in:
$ -0- $
-0$ 24,000

The Installment Sales


Method: Partial Journal
Entries (2003) for Gross
Profit

Installment Sales
200,000
Cost of Sales
150,000
Deferred Gross Profit, 2003
50,000
(To close 2003 accounts)
Deferred Gross Profit, 2003
15,000
Realized Gross Profit
15,000
(Realized: $60,000 x 25%)
Realized Gross Profit
15,000
Income Summary
15,000
(To close to Income Summary)

The Cost Recovery


Method
Seller recognizes no profit until cash
payments by buyer exceed sellers cost of
merchandise.
After recovering all costs, seller includes
additional cash collections in income.
This method is to be used where there is no
reasonable basis for estimating collectibility as
in franchises and real estate.
The income statement reports the amount of
gross profit recognized and the amount
deferred.

The Deposit Method


Seller receives cash from buyer before transfer
of goods or performance.
The seller has no claim against the purchaser.
There is insufficient transfer of risks to buyer to
warrant recording a sale by seller.
In the case of such incomplete transactions,
the deposit method is used.
The deposit method thus defers sale
recognition until a sale has occurred for
accounting purposes.

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