Chapter 22: Accounting Changes and Error Analysis

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Chapter 22 Accounting Changes and Error Analysis
Intermediate Accounting, 11th ed. Kieso,
Weygandt, and Warfield
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Chapter 22 Accounting Changes and Error Analysis
After studying this chapter, you should be able
to

1. Identifikasi jenis2 Perubhn Akunt.
2. Uraian perubhn prinsip2 Akunts.
3. Memahami bgmn perhitungan pengaruh kumulatif
   perubh Akuntansi.
4. Bgmn perhitungan perubhn Ak retroaktif.
5. Bgmn perhitungan perubahan ke metode LIFO.

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Chapter 22 Accounting Changes and Error Analysis

• Uraian Akuntansi utk perubhn estimasi.
• Identifikasi perubhn dalam entitas pelaporan.
• Uraian Akuntansi utk koreksi kesalahan.
• Identifikasi motif2 ekonomi utk mengubah metode
  akuntansi.
• Analisis pengaruh kesalahan.

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Restatements Everywhere
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Types of Accounting Changes

• Sebelum penerbitan APB Opinion No 20 ,
• Perubahan Akuntansi persh. Memiliki
  fleksibilitas
• utk menggunakan perlakuan akuntansi alternatif
• Thd situasi yg sangat mendasar.
• The types of accounting changes are
• Changes in Accounting Principle
• Changes in Accounting Estimates
• Changes in Reporting Entity
• Errors in Financial Statements

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Changes in Accounting Principle

• Perubhn prinsip akuntansi melibatkan perubhn dari
  satu prinsip akuntansi yg berlaku umum ke yg
  lainnya.
• A change in principle does not result from the
  adoption of a new accounting principle.
• Jika prinsip akuntansi seblmnya tdk dpt diterima
  atau diterapkan scr tdk benar maka perubhn ke
  prinsip Ak. Dianggap sbg koreksi kesalahan.

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Changes in Accounting Principle

• Changes in accounting principle are classified
  into
• Cumulative-effect type of accounting change
  (periode berjalan)
• Retroactive-effect type of accounting change
• Change to the LIFO method of inventory

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Cumulative-Effect Type of Accounting Change

• The catch up method hrs digunakan utk akuntansi
  utk perubahan.
• Lap keu periode seblmnya yg dimasukkan utk tujuan
  komparatif tdk perlu dinyatakan kembali.
• Laba seblm pos2 luar biasa dan laba bersih, yg
  dihitung atas dasar proforma hrs ditampilkanpd
  Lap. R/L utk semua periode.

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Cumulative-Effect Type of Accounting Change

• Ayat jurnal akan efektif apabila dibuat awal
  tahun.
• Pro forma (seolah-olah) information bermanfaat
  bagi individu2 yg berkepentingan dalam penilaian
  kecenderungan laba selama suatu periode waktu
  tertentu.
• Inf. Profrm., yg hy ditampilkan sbg inf pelengkp,
  dpt dilap. pd Lap R/L, dlm skedul terpisah, atau
  dlm cattn. Atas Lap. Keu.

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Cumulative Effect Example

• XYZ company changes from the sum-of-the-years
  digits method to the straight-line method of
  depreciation on Jan. 1, 2004.
• The depreciation amounts are Year SYD
  ST.LINE 2002 15,000 8,000 2003 14,000
  8,000
• The companys tax rate is 40.
• Record the change as of the beginning of 2004.

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Cumulative Effect Example

• Year SYD SL Diff Tax
  Effect
• 2002 15,000 8,000 7,000 2,800
• 2003 14,000 8,000 6,000 2,400
  -------- -------- 13,000 5,200
  -------- --------
• Tax liability increases by 5,200
• Tax effect is the difference times the tax rate

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Cumulative Effect Example

• Journal Entry
• Accumulated Dep. 13,000 Deferred Tax Asset
  5,200 Cumulative Effect of Change in
  Principle 7,800

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Retroactive-Effect Type of Accounting Change

• Pengaruh kumulatif dari metode baru terhadap Lap
  keuangan dihitung pd awal periode.
• Prior period statements atas dasar yg konsisten
  dg prinsip yg baru diadopsi.
• Setiap bagian dari pengaruh kumulatif yg
  berkaitan dg th2 seblmnya diperlakukan sbg
  penyesuaian laba ditahan awal dari tahun paling
  awal ditampilkan.

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Retroactive-Effect Type of Accounting Change

• The five situations requiring restatement of all
  prior period statements are
• A change from the LIFO inventory method to
  another method
• A change in the method of accounting for
  long-term construction type contracts
• A change from or to the full-cost method in
  extractive industries(menghslkan bhn2baku)
• Penerbitan Lap keu utk pertama kalinya utk
  memperoleh Modal Ekuitas.
• Pengumuman profesional yg merekomendasikan bwh
  perubhn prinsip Ak diperlakukan scr retroaktif.

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Income Statement Presentation

• Retained Earnings account is shown as
  follows
• Balance at beginning of year XXX
• Adjustment for the cumulative
• effect on prior years XX
• Balance at beginning (as adjusted) XX
• Net Income XXX
• Balance at end of year XXX

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Reporting a Change in Estimate

• Changes in estimates harus ditangani secara
  prospektif. Yaitu tidak ada perubhn yg hrs dibuat
  dlm hsl yg dilaporkan seblmnya.
• So awal tdk perlu disesuaikan, dan tdk ada usaha
  utkmenyusul atau catch up periode sebelumnya.
• Examples of changes in estimates involve
• Piutang tak tertagih
• Keusangan persediaan.
• Umur manfaat dan nilai sisa aktiva.

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Reporting a Change in Entity

• Lap dr entitas yg berbeda hrs dilaporkan dg
  menyatakan kembali Lap Keu yg disajikan selama
  periode seblmnya, guna menunjukkan informasi
  keuangan bagi entitas pelaporan yg baru selama
  semua periode.
• Examples of a change in reporting entity are
• Menyajikan Lap konsolidasi utk menggantikan Lap
  persh.individual.
• Mengubah anak persh t3 yg terdiri dr kelpk persh
  dmn Lap keu konsolidasi disajikan.

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Reporting the Correction of an Error

• Contoh dari kesalahan Akuntansi
• Perubhn dr prinsip Ak yg tdk berlaku umum ke
  prinsip yg berlaku umum (cash basis ke Accrual
  basis)
• Kesalahan matematis yg diakibatkan oleh
  penjumlahan, pengurangan dsb.
• Perubhn estimasi krn estimasi dibuat dg tdk
  jujur(Co penggunaan tari penyusutan yg tdk
  realistis)
• Kelalaian dan penggunaan fakta yg tdk benar.
• Klasifikasi biaya yg tdk tepat sbg beban dan
  bukan sbg aktiva serta sebaliknya.

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Motivations for Change

• Biaya Politik
• Co Prsh. Melaporkan laba rendah serikat
  pekerja tdk akan meminta kenaikan gaji.
• 2. Struktur modal
• Persh dg rasio hut tinggi thd ekuitas maka
  akan cenderung memilih metode akuntansi yg bisa
  menaikkan laba bersih.
• 3. Pembayaran Bonus.
• 4. Memperlancar Laba (konsistensi perolehan laba)

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Error Analysis in General

• Pershn. Tdk mengkoreksi kesalahan yg ditemukan yg
  tdk memiliki dampak signifikan thd penyajian Lap
  keuangan.
• Tiga pertanyaan yg hrs dijawab dlm analisis
  kesalahan
• a. Kesalahan Jenis apa yg terjadi ?
• b. Ayat jurnal apa yg diperlukan utk koreksi
  kesalahan?
• c.Bgmn Lap keu dinyatakan kembali stl
  ditemukannya kesalahan ?
• Koreksi kesalahan diperlakukan sbg penyesuaian
  periode seblmnya dan dilaporkan dlm th berjalan
  sbg penyesuaian saldo awal Laba Ditahan.

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Types of Errors

• Errors can occur in the following financial
  statements
• Balance sheet
• Income statement
• Balance sheet and the income statement
• Errors can be
• Counterbalancing (kesalahan yg saling
  menyeimbangkan)
• Non-counterbalancing (Kesalahan yg tdk saling
  menyeimbangkan)

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Counterbalancing Errors

• Apakah pembukuan telah ditutup atau belum
• selama periode dmn terjadi kesalahan ?
• Jika Pembukuan sudah ditutup
• Jika kesalah telah saling diseimbangkan, ayat
  jurnal yg diperlukan.
• 2. Jika kesalahan belum saling diseimbangkan,
• diperlukan ayat jurnal utk penyesuain R/E.
• b. Jika Pembukuan belum ditutup
• 1. Sdh diseimbangkan dan pershn. Memasuki th
  ke-2, perlu jurnal utk koreksi periode berjln
  menyesuaikan saldo Laba ditahan.

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Changing From and to the Equity Method

• A change to or from the equity method requires
  restatement of all prior period statements.
• A change from the equity method to the fair value
  method must be made when
• the investors level of influence falls below
  the required percentage of ownership
• A change from the fair value method to the equity
  method must be made when
• the investors level of influence rises above
  the required percentage of ownership

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Changing from the Equity Method

• The cost basis for accounting purposes is the
  carrying amount of the investment at the date of
  the change.
• The earnings and losses (previously recognized)
  remain part of the carrying value
• Any amortization previously needed under the
  equity method ceases
• To the extent that dividends received by investor
  exceed investors share of investees earnings in
  subsequent periods
• Such excesses are reductions of the investment
  carrying amount

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Changing to the Equity Method

• The following amounts are retroactively adjusted
  (as if the investor had held the investment
  during all prior periods)
• The carrying value of the investment
• The results of current and prior period
  operations
• The retained earnings of the investor
• Any balances in unrealized holding gains and
  losses are eliminated.
• The available-for-sale classification is also
  removed.