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. Menerapkan Prinsip pengakuan
pendapatan.
2. Menguraikan masalah akuntansi yang
melibatkan pengakuan pendapatan pada
saat penjualan.
3. 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. Penjln. dg. Perjanjian beli kembali.
2. Penjl. dg hak retur
3. 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 Completed Contract

Method Method

1) Menetapkan hak2 yg dpt 1)Syarat metode % penyele-

dipaksakan antara 2 pihak seaian tdk terpenuhi.
2) Pembeli dpt diharapkan 2)Mempunyai kontrak jangka
memenuhi semua kewajib pendek.
3) Kontraktor diharapkan dpt
memenuhi semua kewajib
 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-of-Completion:
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-of-Completion:
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-of-Completion:
Example
Data: Contract price: $4,500,000 Estimated cost: $4,000,000
Start date: July, 2003 Finish: October, 2005
Balance sheet date: Dec. 31
Given: 2003 2004 2005

Biaya sampai tgl ini $1,000,000 $2,916,000 $4,050,000

Estims. bi utk menyelesaikan $3,000,000 $1,134,000 $ -0-
Termin selama th berjalan $900,000 $2,400,000 $1,200,000
Kas yg ditagih selama th berjl $750,000 $1,750,000 $2,000,000

What is the percent complete, revenue and gross

profit recognized each year?
 Percentage-of-Completion:
Example
2003 2004 2005

% complete 1,000,000 = 25% 2,916,000= 72% 100 %

to-date 4,000,000 4,050,000

Revenue 4,500,000 * 25% 4,500,000 * 72% 4,500,000

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

Gross Profit 1,125,000 less 2,115,000 less 1,260,000

recognized 1,000,000 1,916,000 less 1,134,000
= 125,000 = 199,000 = 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 Recognize loss currently.
Jln atas kontrak yg
menguntungkan
Completed method:
No adjustment needed.

Percentage Method:
Kerugian atas kontrak Diakui pd periode berjln.
Yg tidak mengun-
tungkan
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 2004 2005

Installment sales $200,000 $250,000 $240,000

Hrg pokok Pejln. $150,000 $190,000 $168,000
Gross Profit $ 50,000 $ 60,000 $ 72,000

Cash received in:

from 2003 sales $ 60,000 $ 100,000 $ 40,000
from 2004 sales $ -0- $ 100,000 $125,000
from 2005 sales $ -0- $ -0- $ 80,000
Determine the realized and deferred gross profit.
The Installment Sales Method:
Example
Given: 2003 2004 2005
Installment sales $200,000 $250,000 $240,000
Gross Profit $ 50,000 $ 60,000 $ 72,000
Gross profit rate 25% 24% 30%

See next slide for realized and deferred gross

profit
 The Installment Sales Method:
Example
2003 2004 2005
Gross profit rate 25% 24% 30%
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 seller’s 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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