Chapter
Non-Current Liabilities
Chapter
14 Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield
Chapter
DRA. LILIK PURWANTI, M.Si, AK
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
Utang Obligasi dan Utang Wesel Jk Panjang
Utang Obligasi
Utang Wesel Jangka Panjang
Issuing bonds Types and ratings Valuation Effective-interest method
Notes issued at face value
Extinguishment
Notes not issued at face value
Off Balance-sheet financing
Special situations
Presentation and analysis
Mortgage notes payable Chapter
Special Issues
Vair value option
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
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
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 bondsObligasi yang dapat dikonversi dengan surat berharga lain Chapter
Types of Bonds Commodity-backed bondsobligasi 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 bondsmembayar bunga dari sumber pendapatan tertentu (dikeluarkan oleh bandara, otoritas jalan tol dll.
Chapter
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
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
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
Valuation of Bonds – Discount and Premium Assume Stated Rate of 8%
Chapter
Market Interest
Bonds Sold At
6%
Premium
8%
Face Value
10%
Discount
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 Interest
Chapter
$100.000 x 0,64993 = $ 64.993 9.000 x 3,88965 = 35.007 Present value 100.000 Face value 100.000 Discount $ 0
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%.
Date 1/1/07 12/31/07 12/31/08 12/31/09 Chapter
Cash Paid
Interest Expense
$ 9.000 9.000 9.000
$ 9.000 9.000 9.000
Carrying Amount ##### 100.000 100.000 100.000
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 12/31/11 1/1/12 Chapter
Cash Bonds payable Interest expense Interest payable Interest payable Cash
100,000 100,000 9.000 9.000 9,000 9,000
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 Interest
Chapter
$100,000 x 0.75132 = $ 75,132 8,000 x 2.48685 = 19,895 Present value 95,027 Face value 100,000 $ (4,973) Discount
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%.
Date 1/1/11 12/31/11 12/31/12 12/31/13
8% Cash Paid $ 8.000 8.000 8.000
10% Interest Discount Carrying Expense Amortized Amount $ 95.027 $ 9.503 $ 1.503 96.530 9.653 1.653 98.183 9.817 * 1.817 100.000 * rounding
Chapter
Bonds Issued at a Discount Illustration Stated rate = 8%. Market rate = 10%. Journal entries for 2007: 1/1/11
Cash 95,027 Bonds payable (Mencatat penerbitan obligasi dengan diskonto) 12/31/11
95,027
Interest expense 9,503 Bonds payable 1,503 Cash 8,000 (Mencatat amortisasi diskonto dan pembayaran bunga) Chapter
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 Interest
Chapter
$100,000 x 0.83962 = $ 83,962 8,000 x 2.67301 = 21,384 Present value 105,346 Face value 100,000 $ 5,346 Premium
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%.
Date 1/1/11 12/31/11 12/31/12 12/31/12 Chapter
8% Cash Paid $ 8.000 8.000 8.000
6% Interest Premium Carrying Expense Amortized Amount ##### $ 6.321 $ 1.679 103.667 6.220 1.780 101.887 6.113 1.887 100.000
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 (Mencatat pembayaran bunga dan amortisasi premi) Chapter
8,000
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
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 Inventories Plant assets, net Total assets
$ 40.000 95.000 280.000 ####
Liabilities and Equity
Accounts payable Bonds payable Common stock, $1 par Retained earnings Total liabilities and eq Chapter
$ 80.000 140.000 150.000 60.000 ####
Costs of Issuing Bonds Biaya penerbitan obligasi: biaya percetakan, biaya notaris, biaya iklan, biaya pialang dll. 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 1.
Chapter
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
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%. Date 1/1/11 12/31/11 12/31/12
8% Cash Paid
$ 8.000 8.000
10% Interest Discount Expense Amortized $ 9.503 9.653
Account Balances at Dec. 31, 2012: Bonds payable = Chapter
$ 1.503 1.653
Carrying Amount $ 95.027 96.530 98.183
$98,183
Reacquisition price = $105,000 + 2,000 = $107,000 107.000 - 98.183 = $ 8,817 Rugi penebusan
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 Loss on extinguishment Cash
Chapter
98.183 8,817 107,000
