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A Reminder:
Individual Assignment (10%)
–
u Each students is required to analyze a financial statement of the year 2018 of
a company listed in the Indonesian Stock Exchange (IDX).
u The company selected by each student should not be the same to each other,
neither in the same class nor with other classes.
u You have to describe the company’s accounting policy/treatment on assets,
liabilities, equity, revenues, and expenses based on its financial statements.
u The assignment should be prepared in a standard format with Times New
Roman size 12; 1,5 spacing, A4 paper. The maximum length of the
assignment is 10 pages.
u The students should pay attention to the rules and sanction regarding
plagiarism as described in the syllabus.
u The assignment should be submitted at the latest on NOVEMBER 12th, 2019
Teori Akuntansi –Revenue (Yosefa Sayekti) Teori Akuntansi –Revenue (Yosefa
1 Sayekti) 2

Outline Financial Performance

– –
™ Performance measurement KKPK
™ Net income (profit) à performance measurement or as
™ Revenue Defined
part of other measurement (e.g. ROA, ROE, EPS)
™ Revenue Recognition
™ Element of profit measurement:
™ Revenue Measurement
– Income
™ Challenges for Standard Setters – Expenses

™ Issues for Auditors

Teori Akuntansi –Revenue Teori Akuntansi –Revenue
(Yosefa Sayekti) 3 (Yosefa Sayekti) 4

Income INCOME
– Revenue
– Gains
™ KKPK:
(Pendapatan) (Keuntungan)
– Income (Penghasilan) consists of:
™ Revenue (Pendapatan) ™ arising in the course of ™ Does not necessarily
™ Gains (Keuntungan) the ordinary activities of arise from the ordinary
an entity acitivities of an entity.
™ Ex: sale of goods, service ™ Ex: gain from the sale of
fee, interest, royalty fee, fixed assets
dividend, rent

Teori Akuntansi –Revenue Teori Akuntansi –Revenue (Yosefa

(Yosefa Sayekti) 5 Sayekti) 6

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Definition of Revenue
Revenue Recognition
– –
Revenue (Pendapatan): ™ Determining when the revenue is recognized
– gross inflow of economic benefits
– during the period ™ Historical background (19th century)
– arising in the course of the ordinary activities of an – Emphasize on net income as an increase of company’s
entity wealth
– inflows result in increases in equity, other than – Replacement accounting & asset valuation periodically
increases relating to contributions from equity – The concept of realization was not accepted until world
participants war I

Teori Akuntansi –Revenue (Yosefa Teori Akuntansi –Revenue (Yosefa

Sayekti) 7 Sayekti) 8

Revenue Recognition Revenue Recognition

– –
™ The concept of realization was increasingly employed because,
™Realization concept of income:
e.g.:
– Income is recognized when it is realized
– The increasing employment of specific fixed assets that was
difficult to determine the fair value & replacement cost of that
asset. ™Recognition of income which emphasized on
– Misuse of fair value by companies by overvalue the assets that it increasing of wealth was replaced by the
was suspected as one of the reasons for the US market crash in
concept of revenue realization based on certain
1929 & great depression in the 1930s.
criteria.
™ The concept of realization and conservatism was a response to
criticism on replacement accounting & asset appraisal method.
Teori Akuntansi –Revenue (Yosefa Teori Akuntansi –Revenue (Yosefa
Sayekti) 9 Sayekti) 10

Discussion Revenue Recognition

– –
™ Will the history repeat: KKPK:

In the US, FV concept had been used since 19th century (a) It is probable that any future economic benefit associated
which then replaced by Realization concept after Great with the item will flow to or from the entity
Depression. Nowadays, FV concept has been reinstated (b) The item has a cost or value that can be measured with
again. reliability

™ Do you think the factors causing the emergence of the

concept of realization in 1930s to be repeated?
Teori Akuntansi –Revenue Teori Akuntansi –Revenue (Yosefa
(Yosefa Sayekti) 11 Sayekti) 12

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New Revenue Recognition Standard (PSAK 72)

PSAK 72 ILLUSTRATION 18.1 Key Concepts of Revenue Recognition
–
™ PSAK 72: Pendapatan dari Kontrak dengan Pelanggan
™ IFRS 15 adoption: Contract with Customers
™ Principle based in nature
™ Effective: January, 1st 2020
™ Replacing:
– PSAK 23: Pendapatan
– PSAK 34: Kontrak Konstruksi
– ISAK 10: Program Loyalita Pelanggan
– ISAK 21: Perjanjian Konstruksi Real Estate
– ISAK 27: Penghasilan Aset dari Pelanggan
– PSAK 44: Akuntansi Aktivitas Pengembangan Real Estate

Teori Akuntansi –Revenue

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(Yosefa Sayekti) Performance Obligation is Satisfied Kieso et al., 2019

Tahapan dalam Pengakuan

Pendapatan (PSAK 72) Revenue Measurement –
Mengidentifikasi kontrak dengan pelanggan ; PSAK 72
– –
Mengindentifikasi kewajiban pelaksanaan; ™ Ketika (atau selama) kewajiban pelaksanaan dipenuhi,
entitas mengakui pendapatan atas sejumlah harga
transaksi yang dialokasikan terhadap kewajiban
Menentukan harga transaksi; pelaksanaan.

Mengalokasikan harga transaksi terhadap
kewajiban pelaksanaan;
Mengakui pendapatan ketika (pada saat) entitas
telah menyelesaikan kewajiban pelaksanaan.
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™ Harga transaksi adalah jumlah imbalan yang
diperkirakan menjadi hak entitas dalam pertukaran
untuk mengalihkan barang atau jasa yang dijanjikan
kepada pelanggan, tidak termasuk jumlah yang ditagih
atas nama pihak ketiga (seperti: PPN)
Teori Akuntansi –Revenue (Yosefa
Sayekti) 16

Tahapan Pengakuan Pendapatan

Challenges for Standard Setters
1
–
Mengidentifikasi Kontrak dengan Pelanggan
Pengakuan
–
™ Realization concept of income vs fair value concept in
2 Mengidentifikasi Kewajiban Pelaksanaan revenue recognition

™ Comprehensive income à Income consist of:

3 Menentukan harga transaksi – Increase in value of assets that arise from production
Pengukuran activities
Mengalokasikan harga transaksi terhadap – Holding gains assets
4
kewajiban pelaksanaan
™ Assets-Liabilities approach:
Mengakui pendapatan ketika (pada saat) entitas – Profit is measured by the change in net assets
5 Pengakuan
telah menyelesaikan kewajiban pelaksanaan – Not necessarily emphasized on realization concept (or
earned)
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(Yosefa Sayekti) 18
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Issues for Auditors

–
™ Overstated revenue
– Driven by managers’ attempt to deceive financial
statements users
– May occur when managers’ compensation is based on
bonuses tied to targeted revenues

™ Auditors need to be sensitive to the risks surrounding

clients that are likely to be evaluated on revenue
growth. Teori Akuntansi –Revenue Teori Akuntansi –Revenue (Yosefa Sayekti)
(Yosefa Sayekti) 19 20