Upload
kazuyano-doni
View
16
Download
0
Embed Size (px)
DESCRIPTION
jjj
Citation preview
THE BASIC ACCOUNTING EQUATION AND GOVERNMENTS FINANCIAL STATEMENT
Efa YonnediSE, Ak (andalas), MPPM (monash), Ph.D (manchester)
Copyright 2004 Prentice Hall
The Basic Accounting Equation
Asset = Liability + Fund Equity
Asset Liability= Fund Equity
Provides the underlying framework for recording and summarizing governments economic transaction.Assets are claimed by either creditors or fund owners.
AssetResources a government owns.Provide future services or benefits.Cash, Supplies, Equipment, etc.
LiabilityClaims against assets (debts and obligations).Creditors - party to whom money is owed.Accounts payable, Notes payable, etc.
Fund EquityOwnership claim on total assets.Referred to as residual equity.In the private sectoreg. Paid-in Capital, Retained Earnings (Corporation).In the government sectorCurrent Fund EquityInvestment Fund EquityReserve Fund Equity
Financial Statements: a comparison
Governments Accounting SystemIdentifying Recording Reporting TransactionsSubsidiary ledgers Worksheets Bukti Penerimaan Kas
Bukti Pengeluaran Kas
Bukti Memorial Kumpulan Rekening (Ringkasan dan Rincian)
Buku Jurnal Penerimaan Kas
Buku Jurnal Pengeluaran Kas
Buku Jurnal Umum Laporan Realisasi APBD Laporan Aliran KasNeraca DaerahCatatan atas L/K Accounting PolicySummarizingGeneral LedgersEntries / JournalsFinancial StatementsBuku Register
Balance SheetBalance sheet reveals the basic accounting equation, known as:Asset = Liability + EquityEquity in the government sector: Fund EquityEquity in the private sector: ownership claims on total asset (sources of resources owned by the company)Fund Equity is Asset minus LiabilityAseet Liability = Fund Equity
Balance Sheet (cont)The dual effect of one transaction on the accounting equation (asset, liability, fund equity)Assets account and liabilities accounts have its own account in the Fund Equity
Fund EquityCurrent Fund Equity = Current Asset Current Liability.Investment Fund Equity depicts governments resources which are invested in long-term investment, fixed asset, and other assets Long term liability.Reserve Fund Equity reveals governments resources that are reserved for special purposes in accordance to governments regulation
Current Fund EquitySiLPA Kas dan Setara Kas serta Investasi Jangka PendekPendapatan yang Ditangguhkan Kas di Bendahara PenerimaanCadangan Piutang Piutang LancarCadangan Persediaan PersediaanDana yang Disediakan untuk Pembayaran Utang Jangka Pendek Kewajiban Jangka Pendek
Investment Fund EquityInvested in long term investment Long term investmentInvested in fixed asset Fixed assetInvested in other assets Other assetsFunds must be provided for long-term debt payment- Long term debt
Reserve Fund EquityIs a counter account of reserve fund
ACCOUNTING FOR REVENUES
Copyright 2004 Prentice Hall
Revenues, expenses and financing cash basis.Applied to all governments reporting entity (APBN/APBD). Do not include state-owned enterprisesEntities use accrual basis still need to prepare Statement of Budget Realization.
Matching the realization of revenue, expenses, and financing with its budget;Budgetary Accounting in the APBN and APBD: Expenses: appropriation;Revenues: estimation.
Accounting BasisRevenues are recognised when received in the governments account: or rekening Kas Umum Negara/Kas Umum DaerahExpenses are recognized when cash out from the governments account or rekening Kas Umum Negara/Kas Umum DaerahReceipt of financing is recognized when it is received in the governments account: or rekening Kas Umum Negara/Kas Umum DaerahCash out from financing is recognised when it is out from the governments account: or rekening Kas Umum Negara/Kas Umum Daerah
Budgetary AccountingBudgetary accounting is a tool for responsibility and management control of revenues, expenses, transfer and financing.Revenue budget is called estimated revenues. Expenditure budget is called appropriation which is further called allotment (authorization to spend)Financing budget: receive of financiang and expenditure of financing.
Entries/JournalCopyright 2004 Prentice HallBudget approval (entry when budget is approved by the DPR/DPRD)Journal of estimated revenue and expenditure allotmentJournal of budget realizationIncluding: Jurnal KorolariAdjusting entriesClosing entries
Copyright 2004 Prentice Hall
Jurnal Pengesahan APBDBendahara Umum DaerahEstimasi PendapatanxxxApropriasi Belanja xxxSurplus/Defisit xxx
Estimasi Penerimaan PembiayaanxxxPembiayaan Neto xxxApropriasi Pengeluaran Pembiayaanxxx
Jurnal Otorisasi Kredit AnggaranBUDAlokasi Estimasi Pendapatan xxxAlokasi Apropriasi Belanja xxxSurplus/Defisit xxx
SKPDEstimasi Pendapatan yg DialokasikanxxxUtang kepada BUD xxxPiutang kepada BUD xxxAllotment Belanja xxx
Definition of RevenueAll receipts in the governments account know as Rekening Kas Umum Negara/Daerah which add Current Fund Equity which will become the governments right and will not be repaid.
Accounting for RevenueRevenue is classified by sources and typesTransfer: from other entities such as General Allocation Fund (DAU), shared revenues (DBH) Revenues: measured by azaz bruto. Cannot be compensated by expenditures needed to get that revenue
Revenue realizationDirectly to the governments account (Disetor langsung ke BUD)Through Units treasury (bendahara penerimaan SKPD)
**********