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Dasar-dasar Leasing
lease perjanjian kontraktual antara lessor dan lessee yang memberikan hak pada lessee untuk menggunakan properti tertentu, yang dimiliki oleh lessor, selama periode waktu tertentu dengan membayar sejumlah uang (sewa) yang sudah ditentukan, yang umumnya secara periodik.
Largest group of leased equipment involves: Information technology, Transportation (trucks, aircraft, rail), Construction and Agriculture.
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
Dasar-Dasar Leasing
Keunggulan Leasing (Advantages of Leasing)
1.
Sheet Financing).
Awal masa sewa(commencement of the lease term) tanggal saat lessee mulai berhak untuk menggunakan aset sewaan.
Tanggal ini merupakan tgl pertama kali sewa diakui(yaitu pengakuan aset, kewajiban, penghasilan atau beban sewa)
Klasifikasi sbg sewa pembiayaan atau sewa operasi didasarkan pada substansi transaksi dan bukan pada bentuk kontraknya (substance over form)
Although technically legal title may not pass, the benefits from the use of the property do.
Capital Lease
Leased equipment Lease liability xxx xxx
Indikator-Indikator Klasifikasi
1. Sewa mengalihkan kepemilikan aset kpd lessee pd akhir masa sewa 2. Lessee mempunyai opsi untuk membeli aset pada harga yg cukup rendah dibanding dg nilai wajar pd tgl opsi mulai dpt dilakukan, shg pd awal sewa dpt dipastikan bahwa opsi memang akan dilaksanakan 3. Masa sewa adl untuk sebagian besar umur ekonomis aset meskipun hak milik tidak dialihkan 4. Pada awal sewa, nilai kini dr jumlah pembayaran sewa minimum scr substansial mendekati nilai wajar aset sewaan 5. Aset sewaan bersifat khusus dimana hanya lessee yang dapat menggunakannya tanpa perlu modifikasi scr substansial
mencatat aset dan kewajiban yang umumnya sama dengan nilai sekarang pembayaran sewa.
Mencatat depresiasi aset tetap yang dileasing.
Memperlakukan pembayaran sewa, terdiri dari pembayaran pokok pinjaman dan bunga
Journal Entries for Capitalized Lease
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Lease Agreement
Leases that DO NOT meet any of the four criteria are accounted for as Operating Leases.
Illustration 21-4
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
(tidak termasuk biaya executory) 90% dari nilai wajar properti yang di leasingy.
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Minimum rental payment Guaranteed residual value Penalty for failure to renew Bargain purchase option Insurance Maintenance Taxes
Exclude from PV of Minimum Lease Payment calculation
Executory Costs:
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Finance Lease, #3
Transfer of ownership Bargain purchase option Lease term for major part of economic life of leased property Present value of minimum lease payments substantially all of FMV of property
NO NO
Lease term Economic life 5 yrs. 6 yrs. 83.3%
YES
4.
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Cash
9,968
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Lease Payment
Reduction in Liability $
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
12/31/11
Depreciation Expense Accumulated Depreciation
($41,565 5 = $8,313)
8,313 8,313
3,160 3,160
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
1/1/12
Lease Liability Interest Payable 6,808 3,160
Cash
9,968
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Interest Revenue.
2. Tax Incentives.
3. High Residual Value.
If a residual value is involved (whether guaranteed or not), the company would not have to recover as much from the lease payments
4. 5.
$ $
A sales-type lease involves a manufacturers or dealers profit, and a direct-financing lease does not.
LO 4 Identify the classifications of leases for the lessor.
A lessor may classify a lease as an operating lease but the lessee may classify the same lease as a capital lease.
LO 4 Identify the classifications of leases for the lessor.
12/31/08
3.
The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of 61,071, none of which is guaranteed.
Reid Company assumes direct responsibility for all executory costs.
4.
5.
The agreement requires equal annual rental payments, beginning on January 1, 2010.
64,400
LO
A lease receivable instead of a leased asset. Receivable is the present value of the minimum lease payments plus the present value of the unguaranteed residual value.
12/31/10
Interest Receivable
Interest Revenue
27,860
27,860
Depreciation Expense
Accumulated Depreciation
($343,000 61,067) / 6 years = 57,167
46,989
46,989
LO 6 Identify special features of lease arrangements that cause unique accounting problems.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
Capitalization Criteria:
1. Transfer of ownership
2. Bargain purchase option 3. Lease term => 75% of
Capital Lease, #3
NO NO
Lease term Economic life 4 yrs. 4 yrs. 100%
YES
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
$ $ $
16,228
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
12/31/07
LO 7 Describe the effect of residual values, guaranteed and unguaranteed, on lease accounting.
Lessor records the sale price of the asset, the cost of goods sold and related inventory reduction, and the lease receivable.
Difference in accounting for guaranteed and unguaranteed residual values.
LO 8 Describe the lessors accounting for sales-type leases.
LO 6 Identify special features of lease arrangements that cause unique accounting problems.