Chapter 18: Revenue Chapter 18: Revenue RecognitionRecognition

Intermediate Accounting, 11th ed.Kieso, Weygandt, and Warfield

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.

After studying this chapter, you should be able to:

Chapter 18: Revenue Recognition

4. Metode kontrak selesai untuk 4. Metode kontrak selesai untuk kontrak jangka panjang.kontrak jangka panjang.

Mengidentifikasi ak. yg tepat utk Mengidentifikasi ak. yg tepat utk kerug. atas kontrak jgk. panjang.kerug. atas kontrak jgk. panjang.

Metode ak. Penjl. Cicilan.Metode ak. Penjl. Cicilan. Metode Ak. Pemulihan biaya.Metode Ak. Pemulihan biaya.

Chapter 18: Revenue Chapter 18: Revenue RecognitionRecognition

The revenue recognition principle provides that revenue is recognized:

when it is earned, andwhen 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.

Pedoman Revenue Recognition

Pendptn dr penjualan produk diakui pd tgl Pendptn dr penjualan produk diakui pd tgl penjln., yg biasanya diinterpretasikan sbg penjln., yg biasanya diinterpretasikan sbg tgl penyerahan kpd pelanggan.tgl penyerahan kpd pelanggan.

Pendptn. dari pemberian jasa diakui ketika Pendptn. dari pemberian jasa diakui ketika jasa2 itu telah dilaksanakan dan dpt jasa2 itu telah dilaksanakan dan dpt ditagih. ditagih.

Pendptn. dari mengizinkan pihak lain utk Pendptn. dari mengizinkan pihak lain utk menggunakan aktiva, co. bunga, sewa, menggunakan aktiva, co. bunga, sewa, dan royalti, diakui sesuai dg berlalunya dan royalti, diakui sesuai dg berlalunya waktu atau ketika aktiva perushn. Itu waktu atau ketika aktiva perushn. Itu digunakan.digunakan.

Pendptn. Dr. pelepasan aktiva selain Pendptn. Dr. pelepasan aktiva selain produk diakui pd tgl. Penjualan.produk diakui pd tgl. Penjualan.

Four Types of Revenue Four Types of Revenue TransactionsTransactions

Revenue Recog. Revenue Recog. Diklasifikasikan menurut Diklasifikasikan menurut

Sifat TransaksiSifat Transaksi

Revenues from manufacturing Revenues from manufacturing and selling are commonly and selling are commonly recognized at recognized at point of salepoint of sale..Exceptions:Exceptions:

1.1. Penjln. Penjln. ddg. Perjanjian beli kembali. g. Perjanjian beli kembali. 2.2. Penjl. Penjl. ddg hak returg hak retur3.3. Trade loadingTrade loading andand channel stuffingchannel stuffing

Revenue Recognition at Revenue Recognition at Point of Sale(Pd. saat Point of Sale(Pd. saat

Penjualan)Penjualan)

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 Revenue Recognition Before DeliveryDelivery

Long-Term ConstructionAccounting Methods

1) Menetapkan hak2 yg dpt dipaksakan antara 2 pihak2) Pembeli dpt diharapkan memenuhi semua kewajib3) Kontraktor diharapkan dpt memenuhi semua kewajib

1)Syarat metode % penyele- seaian tdk terpenuhi.2)Mempunyai kontrak jangka pendek.

Percentage-of-CompletionMethod

Completed ContractMethod

Revenue Recognition Revenue Recognition Before DeliveryBefore Delivery

Biaya yg terjadi sampai tgl ini = Percent completeEstimasi akhir total biaya selesai

11

Estimated total revenue x Percent complete = Revenue to be recognized to date

22

Total revenue to be recognized to date less Revenue recognized in Periode seblm.nya = Current period revenue

33

Current Period Revenue less current costs = Gross profit44

Percentage-of-Completion: Steps

• Mencatat Biaya KonstruksiKonstruksi dlm Proses Materials, cash, payables, etc.

• Untuk mencatat Termin:Piutang Usaha

Penagihan atas konstruksi dlm proses• Untuk Mencatat Hasil Penagihan:

CashAccounts receivable

Percentage-of-Percentage-of-Completion: EntriesCompletion: Entries

• Utk Mengakui pendptn dan laba kotor: Construction in process (gross profit)

Construction expensesRevenue

• Utk mencatat Penyelesaian Kontrak:Penagihan atas konstruksi dlm proses

Konstruksi dlm Proses

Percentage-of-Percentage-of-CompletionCompletion: Entries: Entries

Data: Contract price: $4,500,000 Estimated cost: $4,000,000Start date: July, 2003 Finish: October, 2005Balance sheet date: Dec. 31

Given: 2003 2004 2005

Biaya sampai tgl ini $1,000,000 $2,916,000 $4,050,000Estims. bi utk menyelesaikan $3,000,000 $1,134,000 $ -0-Termin selama th berjalan $900,000 $2,400,000 $1,200,000Kas 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-Percentage-of-Completion: ExampleCompletion: Example

2003 2004 2005

% complete to-date

1,000,000 = 25% 2,916,000= 72% 100 %4,000,000 4,050,000

Revenue recognized

4,500,000 * 25% 4,500,000 * 72% 4,500,000= 1,125,000 less 1,125,000 less 3,240,000

= 2,115,000 = 1,260,0001,125,000 less 2,115,000 less 1,260,0001,000,000 1,916,000 less 1,134,000= 125,000 = 199,000 = 126,000

Gross Profit recognized

Percentage-of-Percentage-of-Completion: ExampleCompletion: Example

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.

Kerugian Kontrak Kerugian Kontrak Jangka PanjangJangka Panjang

Kerugian periode berJln atas kontrak ygmenguntungkan Completed method:

No adjustment needed.

Percentage Method: Recognize loss currently.

Kerugian atas kontrakYg tidak mengun-tungkan

Percentage Method: Diakui pd periode berjln.

Completed method: Diakui pd periode berjln.

Pengakuan kerugian Pengakuan kerugian dlm kontrak jangka dlm kontrak jangka

panjangpanjang

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

Revenue Recognition Revenue Recognition After DeliveryAfter Delivery

• 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 The Installment Sales MethodMethod

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 $ 72,000Cash 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 The Installment Sales Method: ExampleMethod: Example

Given: 2003 2004 2005Installment sales $200,000 $250,000

$240,000Gross Profit $ 50,000 $ 60,000 $

72,000Gross profit rate 25% 24% 30%

See next slide for realized and deferred gross profit

The Installment Sales The Installment Sales Method: ExampleMethod: Example

2003 2004 2005Gross profit rate 25% 24% 30%Realized Gross Profit: From 2003 sales: Realized in $ 15,000 $ 25,000 $

10,000 From 2004 sales: Realized in: $ -0- $ 24,000 $ 30,000 From 2005 sales: Realized in: $ -0- $ -0- $ 24,000

Gross profit deferred

deferred

The Installment Sales The Installment Sales Method: ExampleMethod: Example

Installment Sales 200,000 Cost of Sales 150,000Deferred Gross Profit, 2003 50,000(To close 2003 accounts)

Deferred Gross Profit, 2003 15,000Realized Gross Profit 15,000(Realized: $60,000 x 25%)

Realized Gross Profit 15,000Income Summary 15,000 (To close to Income Summary)

The Installment Sales The Installment Sales Method: Partial Journal Method: Partial Journal Entries (2003) for Gross Entries (2003) for Gross

ProfitProfit

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 Cost Recovery The Cost Recovery MethodMethod

• 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.

The Deposit MethodThe Deposit Method

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