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Chapter

14-1
Non-Current Liabilities

Chapter
14
Intermediate Accounting
IFRS Edition
Kieso, Weygandt, and Warfield

Chapter DRA. LILIK PURWANTI, M.Si, AK


14-2
Learning Objectives

1. Identifikasi macam-macam penerbitan obligasi.


2. Menggambarkan accounting dan valuation penerbitan
obligasi pada saat penerbitan.
3. Methods amortisasi discount and premium obligasi.
4. Menggambarkan akuntansi untuk penebusan obligasi.
5. Menjelaskan akuntansi Utang Wesel Jangka Panjang.
6. Explain the reporting of off-balance-sheet financing
arrangements.

Chapter
14-3
Utang Obligasi dan Utang Wesel Jk Panjang

Utang Wesel
Utang Obligasi Special Issues
Jangka Panjang

Issuing bonds
Notes issued at Extinguishment
Types and ratings
face value Vair value option
Valuation
Notes not issued at Off Balance-sheet
Effective-interest face value financing
method
Special situations Presentation and
Mortgage notes analysis
payable
Chapter
14-4
Bonds Payable

Long-term debt adalah pengorbanan manfaat


ekonomi yang sangat mungkin di masa depan akibat
kewajiban sekarang yang tidak dibayarkan dalam
satu tahun atau satu siklus operasi perusahaan.

Examples:
Bonds payable Pension liabilities
Notes payable Lease liabilities
Mortgages payable

Chapter
14-5
Issuing Bonds

Kontrak obligasi dikenal bond indenture (perjanjian).


Perjanjian meliputi:
(1) Jumlah yang ditetapkan pada tanggal jatuh
tempo, ditambah
(2) Bunga periodik pada tingkat tertentu atas jumlah
jatuh tempo atau nilai nominal
Paper certificate, berisi nilai nominal dan bunga
dibayarkan setiap tengah tahun.
Tujuan peminjaman ketika perusahaan perlu modal
yang terlalu besar untuk disediakan oleh satu orang.
Chapter
14-6
Types of Bonds

Macam-macam Obligasi:
Obligasi dijamin and tanpa jaminan dijamin dengan
saham, obligasi lain
Obligasi Berjangka jatuh tempo satu tanggal, Obligasi
berserijatuh tempo beberapa tanggal, and Callable
bonds (obligasi yang dapat ditebus)ditebus sebelum
jatuh tempo
Convertible bondsObligasi yang dapat dikonversi
dengan surat berharga lain

Chapter
14-7
Types of Bonds

Commodity-backed bondsobligasi yang dapat


ditebus dengan komoditi: minyak, batu bara dll
 Registered bonds (Obligasi Terdaftar atau atas nama
pemilik)jika dijual harus terbitkan obligasi baru and
Bearer or coupon bonds (Obligasi atas unjuk atau
kupon) dapat dipindah tangan karena tidak atas
nama.
 Income bonds  tidak membayar bunga kecuali
penerbit obligasi memperoleh laba, and Revenue
bondsmembayar bunga dari sumber pendapatan
tertentu (dikeluarkan oleh bandara, otoritas jalan tol dll.

Chapter
14-8
Valuation of Bonds – Discount and Premium

Waktu diantara tanggal obligasi dan saat penjualan,


mungkin menimbulkan perbedaan harga yang signifikan
antara nilai nominal obligasi dan harga pasar. Sehingga
menimbulkan diskonto atau premi.

A bond values at the present value of its expected


future cash flows, which consist of (1) interest and (2)
principal (nominal).

Chapter
14-9
Valuation of Bonds – Discount and Premium

Interest Rates
Stated, coupon, or nominal rate = bunga yang tertulis
pada surat obligasi yang menunjukkan bunga yang
harus dibayar selama obliogasi beredar.

Market rate or effective yield = tingkat


pengembalian yang diharapkan diperoleh atas
investasi dengan resiko yang serupa.

Chapter
14-10
Valuation of Bonds – Discount and Premium

Bunga yang sesungguhnya dibayarkan kepada


pemegang obligasi:

(Stated rate x Face Value of the bond)

Jumlah bunga yang sesungguhnya dicatat


sebagai beban bunga dengan menerbitkan utang
obligasi:

(Market rate x Carrying Value of the bond)

Chapter
14-11
Valuation of Bonds – Discount and Premium
Assume Stated Rate of 8%
Market Interest Bonds Sold At

6% Premium

8% Face Value

10% Discount

Chapter
14-12
Bonds Issued at Par

Illustration Five year bonds are issued at face value of


$100,000 on Jan. 1, 2011, with a stated interest rate of
9%. Interest paid annually on Jan. 1. Calculate the issue
price of the bonds, market interest rate of 9%.
Market Rate 9% (PV for 5 periods at 9%)
Principal $100.000 x 0,64993 = $ 64.993
Interest 9.000 x 3,88965 = 35.007
Present value 100.000
Face value 100.000
Discount $ 0

Chapter
14-13
Bonds Issued at Par

Illustration Three year bonds are issued at face value


of $100,000 on Jan. 1, 2011, a stated interest rate of
9%, and market rate of 9%.

Cash Interest Carrying


Date Paid Expense Amount
1/1/07 #####
12/31/07 $ 9.000 $ 9.000 100.000
12/31/08 9.000 9.000 100.000
12/31/09 9.000 9.000 100.000

Chapter
14-14
Bonds Issued at Par

Illustration Stated rate = 8%. Market rate = 8%.


Tingkat bunga oblgasi = tingkat unga pasar sehingga
tidak ada premi atau diskonto
Journal entries for 2011 dam 2012:

1/1/11 Cash 100,000


Bonds payable 100,000
12/31/11 Interest expense 9.000
Interest payable 9.000

1/1/12 Interest payable 9,000


Cash 9,000
Chapter
14-15
Bonds Issued at a Discount

Illustration Three year bonds are issued at face


value of $100,000 on Jan. 1, 2011, and a stated
interest rate of 8%. Bunga dibayar setiap 31 Des.
Calculate the issue price of the bonds assuming a
market interest rate of 10%.
Market Rate 10% (PV for 3 periods at 10%)

Principal $100,000 x 0.75132 = $ 75,132


Interest 8,000 x 2.48685 = 19,895
Present value 95,027
Face value 100,000
Discount $ (4,973)

Chapter
14-16
Bonds Issued at a Discount

Illustration Three year bonds are issued at face value


of $100,000 on Jan. 1, 2011, a stated interest rate of
8%, and market rate of 10%.

8% 10%
Cash Interest Discount Carrying
Date Paid Expense Amortized Amount
1/1/11 $ 95.027
12/31/11 $ 8.000 $ 9.503 $ 1.503 96.530
12/31/12 8.000 9.653 1.653 98.183
12/31/13 8.000 9.817 * 1.817 100.000

* rounding
Chapter
14-17
Bonds Issued at a Discount

Illustration Stated rate = 8%. Market rate = 10%.

Journal entries for 2007:

1/1/11 Cash 95,027


Bonds payable 95,027
(Mencatat penerbitan obligasi dengan diskonto)

12/31/11 Interest expense 9,503


Bonds payable 1,503
Cash 8,000
(Mencatat amortisasi diskonto dan pembayaran bunga)

Chapter
14-18
Bonds Issued at a Premium

Illustration Three year bonds are issued at face value


of $100,000 on Jan. 1, 2007, and a stated interest rate
of 8%. Calculate the issue price of the bonds assuming
a market interest rate of 6%.
Market Rate 6% (PV for 3 periods at 6%)
Principal $100,000 x 0.83962 = $ 83,962
Interest 8,000 x 2.67301 = 21,384
Present value 105,346
Face value 100,000
Premium $ 5,346

Chapter
14-19
Bonds Issued at a Premium

Illustration Three year bonds are issued at face value


of $100,000 on Jan. 1, 2011, a stated interest rate of
8%, and market rate of 6%.

8% 6%
Cash Interest Premium Carrying
Date Paid Expense Amortized Amount
1/1/11 #####
12/31/11 $ 8.000 $ 6.321 $ 1.679 103.667
12/31/12 8.000 6.220 1.780 101.887
12/31/12 8.000 6.113 1.887 100.000

Chapter
14-20
Bonds Issued at a Premium

Illustration Stated rate = 8%. Market rate = 6%.

Journal entries for 2011:

1/1/11 Cash 105,346


Bonds payable 105,346
(Mencatat penerbitan obligasi dengan premi)

12/31/11 Interest expense 6,321


Bonds payable 1,679
Cash 8,000
(Mencatat pembayaran bunga dan amortisasi premi)

Chapter
14-21
Valuation of Bonds – Discount and Premium

Bonds Issued between Interest Dates


(Penerbitan obligsi diantara tanggal
pembayaran bunga) bunga berjalan

Pembeli membayar kepada penjual bunga yang


terutang sejak tanggal pembayaran bunga terakhir
s/d tanggal transaksi.

Pada tanggal pembayaran bunga mendatang maka


pembeli akan menerima bunga penuh lihat hal 729.

Chapter
14-22
Valuation of Bonds – Discount and Premium

Classification of Discount and Premium


Tidak ada rekening Discount on bonds payable di
Neraca karena utang obligasi dicatat sebesar PV atau
harga jual (PV dikurangi biaya penerbitan)
Cash $ 40.000
Inventories 95.000
Plant assets, net 280.000
Total assets ####
Liabilities and Equity
Accounts payable $ 80.000
Bonds payable 140.000

Common stock, $1 par 150.000


Retained earnings 60.000
Total liabilities and equity####

Chapter
14-23
Costs of Issuing Bonds

Biaya penerbitan obligasi: biaya percetakan, biaya


notaris, biaya iklan, biaya pialang dll.

1. Biaya penerbitan obligasi diakui sebagai pengurang


langsung kas hasil penjualan obligasi beban yang
ditangguhkan dan tidak ada amortisasi selama umur
obligasi.
2. Perlakuannya sama dengan diskonto yaitu tidak ada
rekening premi atau diskonto tetapi sudah masuk
dalam rekening utang obligasi

Chapter
14-24
Extinguishment of Debt

Extinguishment (penebusan) obligasi before


Maturity Date  bisa timbul Laba atau Rugi
Rugi  Reacquisition price > Net carrying amount
Laba  Net carrying amount > Reacquisition price

Chapter
14-25
Extinguishment of Debt
Illustration Three year 8% bonds of $100,000 issued on
Jan. 1, 2011, are recalled at 105 on Dec. 31, 2012. Expenses
of recall are $2,000. Market interest on issue date was
10%.
8% 10%
Cash Interest Discount Carrying
Date Paid Expense Amortized Amount
1/1/11 $ 95.027
12/31/11 $ 8.000 $ 9.503 $ 1.503 96.530
12/31/12 8.000 9.653 1.653 98.183

Account Balances at Dec. 31, 2012:


Bonds payable = $98,183
Reacquisition price = $105,000 + 2,000 = $107,000
Chapter 107.000 - 98.183 = $ 8,817  Rugi penebusan
14-26
Extinguishment of Debt

Illustration Three year 8% bonds of $100,000 issued


on Jan. 1, 2011, are recalled at 105 on Dec. 31, 2012.
Expenses of recall are $2,000. Market interest on
issue date was 8%.

Journal entry at Dec. 31, 2012:


Bonds payable 98.183
Loss on extinguishment 8,817
Cash 107,000

Chapter
14-27