Financial Accounting and Accounting Standards

ReceivablesJanji tertulis untuk membayar sejumlah uang tertentu pd tanggal tertentu di masa dpn.Klaim uang, barang, atau jasa kepada pelanggan atau pihak-pihak lainnya.Janji lisan dari pembeli untuk membayar barang atau jasa yang dijual.

Accounts ReceivableNotes ReceivableChapter 7-#Nontrade ReceivablesReceivablesChapter 7-#Recognition of Accounts ReceivablesTrade DiscountsMenghindari perubahan yang sering tjd dlm katalogMenyembunyikan harga faktur yang sebenarnya dari pesaingPelanggan membayar pada harga bersih

10 % Discount for new Retail Store CustomersChapter 7-#Recognition of Accounts ReceivablesCash DiscountsSebagai perangsang agar pembeli melakukan pembayaran secepatnya.Gross Method vs. Net Method

Payment terms are 2/10, n/30Chapter 7-#How are these accounts presented on the Balance Sheet?Accounts ReceivableAllowance for Doubtful AccountsBeg. 500 25 Beg. End. 500 25 End. Accounting for Accounts ReceivableChapter 7-#Sales of $10,000, terms 2/10, n/30A/R10,000 Sales10,000A/R9,800 Sales9,800GROSS METHODNET METHODPayment of $4,000 within discount periodCash3,920Sales Discount80 A/R4,000Cash3,920 A/R3,920Payment of $6,000 received after discount periodCash6,000 A/R6,000A/R120 Sales Discount Forfeited120Cash6,000 A/R6,000Chapter 7-#Allowance MethodKerugian diestimasi:Persentase PenjualanPersentase piutangMethods of Accounting for Uncollectible AccountsDirect Write-OffPencatatan piutang tak tertagih hanya akan dilakukan apabila piutang dagang dari debitur sudah dapat dipastikan tidak akan tertagih lagiValuation of Accounts ReceivableChapter 7-#ExamplesTransaksiAllowance MethodDirect Write-Off31-12-2005Taksiran kerugian piutang $ 100Kerugian Piutang $100 Cad Kerugian Piutang $ 100Tidak ada jurnal

15-4-2006 Menghapus piutang A $150Cad Kerugian Piutang $ 150 Piutang $ 150Kerugian Piutang $ 150 Piutang $ 1501-7-2006 Pernyataan A akan melunasiPiutang $ 150 Cad Kerugian Piutang $ 150Piutang $150 Kerugian Piutang $ 1501-8-2006 Penerimaan uang dari piutang yang sudah dihapusKas $ 150 Piutang $ 150Kas $ 150 Piutang $ 150Chapter 7-#Example: 2% of credit sales become uncollectible and total credit sales in 2007 is $400,000Beban Piutang Tak Tertagih8,000Penyisihan Piutang Tak Tertagih 8,000PERCENTAGE OF SALES & RECEIBABLEChapter 7-#Wilson & Co: Aging ScheduleCustomerBalance Dec.31Under 60 days61-90 days91-120 daysOver 120 daysWS Corp$ 98,000$ 80,000$18,000BS Corp320,000320,000FS Corp55,000$55,000AI Corp74,00060,000$14,000$547,000$460,000$18,000$14,000$55,000AgeAmount% UncollectibleReqd Balance in AllowanceUnder 60 days$460,0004%$18,40061-90 days18,00015%2,70091-120 days14,00020%2,8000ver 120 days55,00025%12,750Year-end balance of allowance for doubtful accounts$37,650Chapter 7-#Suatu wesel tagih didukung oleh promes formal, yaitu janji tertulis untuk membayar sejumlah uang pada suatu tanggal di masa depan.Recognition of Notes ReceivableNotes ReceivableInstrumen yang dapat dinegosiasikanDitandatangani oleh pembuat untuk kepentingan yang dibayar atau penerimaInterest-bearing (memiliki suku bunga tetap) ATAUNoninterest-bearing (memasukan bunga sbg bagian dari nilai nominal yg dinyatakan secara implisit)Chapter 7-#Recognition of Notes ReceivableShort-TermLong-TermDicatat pada nilai nominal dikurangi penyisihanDicatat pada nilai sekarang dari kas yang diperkirakan akan tertagihInterest RatesStated rate = Market rateStated rate > Market rateStated rate < Market rate Note Issued atFace ValuePremiumDiscount Chapter 7-#Case1: Begelow Corp. meminjamkan $ 10.000 kepada Scandinavian Imports dan menerima wesel berbunga dg jangka wkt 3 th senilai $ 10.000, dg suku bunga tahunan 10%. Suku bunga pasar 10%.Face value of the note$10,000PV of the principal: $10,000 x 0.75132 =7,513PV of the interest: $1,000 x 2.48685 =2,487PV of the note$10,000Difference-0-Note Receivable$10,000 Cash$10,000Cash$1,000 Interest Revenue$1,000Note Issued at Face ValueChapter 7-#Noninterest note and Market rate of interest is 9%Case 2: Jeremy Company menerima wesel berjangka waktu 3 tahun senilai $ 10.000 berbunga nol, dan nilai sekarangnya adalah $ 7.722. Suku bunga implisit yang akan menyamakan total kas yang diterima ( $ 10.000 pada saat jatuh tempo) dg nilai sekarang dari arus kas masa depan adl 9%.Face value of the note$10,000PV of the principal (n=3, i=9%): $10,000 x 0.7722 =7,722PV of the interest (n=3, i=9%): 00PV of the note7,722Difference (Discount)$ 2,278Note Receivable$10,000 Cash$7,722 Discount on Note Rec.2,278Chapter 7-#Amortization ScheduleNon-Interest-Bearing Note

Zero-Interest-Bearing NoteDiscount on Note Rec.695 Interest Revenue695 (7,722 x 9%)Chapter 7-#Interest-Bearing NoteCase 3: Morgan Corp memberikan pinjaman kepada Marie Co dan menerima wesel bernilai $ 10.000, berjangka waktu 3 th dan berbunga tahunan 10%. Suku bunga pasar 12%.Face value of the note$10,000PV of the principal (n=3, i=12%): $10,000 x 0.71178 =7,118PV of the interest (n=3, i=12%): $1,000 x 2.40183 =2,402PV of the note9,520Difference (Discount)$ 480Note Receivable$10,000 Cash$9,520 Discount on Note Rec.480Chapter 7-#Amortization ScheduleInterest-Bearing NoteWesel 10% yg didiskontokan pd 12%

Interest-Bearing NoteCash1,000Discount on Note Rec.142 Interest Revenue1,142Chapter 7-#

BERLANJUT PADASENIN DEPANChapter 7-#Sheet19%CarryingCashInterestDiscountAmountReceivedRevenueAmortizedof NoteDate of issue$7,721.80End of yr. 10.0$694.96$694.96$8,416.76End of yr. 20.0$757.51$757.51$9,174.27End of yr. 30.0$825.73$825.73$10,000.000.02,278.202,278.20

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Sheet112%CarryingCashInterestDiscountAmountReceivedRevenueAmortizedof NoteDate of issue$9,520End of yr. 11,000$1,142$1429,662End of yr. 21,0001,1591599,821End of yr. 31,0001,17917910,0003,0003,480480

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