1. Ch 14 Utang Obligasi Kieso

Chapter 14-1

Chapter 14-2

Non-Current LiabilitiesNon-Current LiabilitiesNon-Current LiabilitiesNon-Current Liabilities

ChapteChapter r

1414

ChapteChapter r

1414Intermediate Accounting

IFRS EditionKieso, Weygandt, and Warfield

Intermediate AccountingIFRS Edition

Kieso, Weygandt, and Warfield

DRA. LILIK PURWANTI, M.Si, AK

Chapter 14-3

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.

Learning ObjectivesLearning ObjectivesLearning ObjectivesLearning Objectives

Chapter 14-4

Utang Obligasi dan Utang Wesel Jk Utang Obligasi dan Utang Wesel Jk PanjangPanjang

Utang Obligasi dan Utang Wesel Jk Utang Obligasi dan Utang Wesel Jk PanjangPanjang

Utang ObligasiUtang Obligasi Special IssuesSpecial Issues

Issuing bondsIssuing bonds

Types and ratingsTypes and ratings

ValuationValuation

Effective-interest Effective-interest methodmethod

Notes issued at Notes issued at face valueface value

Notes not issued at Notes not issued at face valueface value

Special situationsSpecial situations

Mortgage notes Mortgage notes payablepayable

Utang Wesel Utang Wesel

Jangka PanjangJangka Panjang

ExtinguishmentExtinguishment

Vair value optionVair value option

Off Balance-sheet Off Balance-sheet financingfinancing

Presentation and Presentation and analysisanalysis

Chapter 14-5

Bonds PayableBonds PayableBonds PayableBonds 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

Notes payable

Mortgages payable

Pension liabilities

Lease liabilities

Chapter 14-6

Issuing BondsIssuing BondsIssuing BondsIssuing 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 14-7

Types of BondsTypes of BondsTypes of BondsTypes of Bonds

Macam-macam Obligasi:

Obligasi dijamin and tanpa jaminan dijamin dengan saham, obligasi lain

Obligasi Berjangka jatuh tempo satu tanggal, Obligasi berserijatuh tempo beberapa tanggal, and Callable bonds (obligasi yang dapat ditebus)ditebus sebelum jatuh tempo

Convertible bondsObligasi yang dapat dikonversi dengan surat berharga lain

Chapter 14-8

Types of BondsTypes of BondsTypes of BondsTypes 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 14-9

Valuation of Bonds – Discount and Valuation of Bonds – Discount and PremiumPremium


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 14-10

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 14-11

Bunga yang sesungguhnya dibayarkan Bunga yang sesungguhnya dibayarkan kepada pemegang obligasi:kepada pemegang obligasi:

(Stated rate x Face Value of the bond)(Stated rate x Face Value of the bond)

Jumlah bunga yang sesungguhnya dicatat Jumlah bunga yang sesungguhnya dicatat sebagai beban bunga dengan menerbitkan sebagai beban bunga dengan menerbitkan utang obligasi:utang obligasi:

(Market rate x Carrying Value of the bond)(Market rate x Carrying Value of the bond)



Chapter 14-12

Bonds Sold AtMarket Interest

6%

8%

10%

Premium

Face Value

Discount



Assume Stated Rate of 8%Assume Stated Rate of 8%

Chapter 14-13

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%.

Principal $100.000 x 0,64993 = 64.993$ I nterest 9.000 x 3,88965 = 35.007

Present value 100.000 Face value 100.000

Discount 0$

Market Rate Market Rate 99% % (PV for (PV for 55 periods at periods at 99%)%)

Bonds Issued at ParBonds Issued at ParBonds Issued at ParBonds Issued at Par

Chapter 14-14

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 I nterest 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 14-15

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 100,000Bonds payable 100,000

12/31/11 Interest expense 9.000 Interest payable 9.000

1/1/12 Interest payable 9,000Cash 9,000

Chapter 14-16

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%.

Principal $100,000 x 0.75132 = 75,132$ I nterest 8,000 x 2.48685 = 19,895

Present value 95,027 Face value 100,000

Discount (4,973)$

Bonds Issued at a DiscountBonds Issued at a DiscountBonds Issued at a DiscountBonds Issued at a Discount

Market Rate 10% Market Rate 10% (PV for 3 periods at 10%)(PV for 3 periods at 10%)

Chapter 14-17


8% 10%Cash I nterest 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 **

* * roundingrounding


Chapter 14-18


Journal entries for 2007:


(Mencatat penerbitan obligasi dengan diskonto)

12/31/11 Interest expense 9,503 Bonds payable 1,503Cash 8,000

(Mencatat amortisasi diskonto dan pembayaran bunga)


Chapter 14-19

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%.

Principal $100,000 x 0.83962 = 83,962$ I nterest 8,000 x 2.67301 = 21,384

Present value 105,346 Face value 100,000

Premium 5,346$

Market Rate 6% Market Rate 6% (PV for 3 periods at 6%)(PV for 3 periods at 6%)

Bonds Issued at a PremiumBonds Issued at a PremiumBonds Issued at a PremiumBonds Issued at a Premium

Chapter 14-20


8% 6%Cash I nterest Premium Carrying


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 14-21


Journal entries for 2011:


(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 14-22

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.

Bonds Issued between Interest Dates

(Penerbitan obligsi diantara tanggal pembayaran bunga) bunga berjalan



Chapter 14-23

Tidak ada rekening Discount on bonds payable di Neraca karena utang obligasi dicatat sebesar PV atau harga jual (PV dikurangi biaya penerbitan)

Classification of Discount and Premium



Cash 40.000$

I nventories 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 14-24

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

Costs of Issuing BondsCosts of Issuing BondsCosts of Issuing BondsCosts of Issuing Bonds

Chapter 14-25

Extinguishment (penebusan) obligasi before Maturity Date bisa timbul Laba atau Rugi

Rugi Reacquisition price > Net carrying amount

Laba Net carrying amount > Reacquisition price

Extinguishment of DebtExtinguishment of DebtExtinguishment of DebtExtinguishment of Debt

Chapter 14-26

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 I nterest Discount Carrying


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 =

$98,183Reacquisition price = $105,000 + 2,000 =

$107,000

107.000 - 98.183 = $ 8,817 Rugi penebusan

Chapter 14-27

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

1. Ch 14 Utang Obligasi Kieso

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