Asset PERTEMUAN IV Dr Rilla Gantino, SE., AK., MM MM-FEB

Teks penuh

(1)

Asset

PERTEMUAN IV

(2)

KEMAMPUAN AKHIR YANG DIHARAPKAN

(3)

Classifcation concepts

Objective of fnancial reporting

Financial statements portray fnancial efects of

transactions and events by:

grouping into broad classes (the elements, eg asset)

sub-classify elements (eg assets sub-classifed by

their nature or function in the business)

IAS 1

application of IFRSs with additional disclosures when

necessary results in a fair presentation (faithful

representation of transactions, events and

conditions)

(4)

Classifcation concepts—assets and claims

Information about the nature and amounts of a

reporting entity’s economic resources and claims

can help users to identify the reporting entity’s

fnancial strengths and weadnesses

That information can help users to:

assess the reporting entity’s liquidity and

solvency

its needs for additional fnancing and how

successful it is lidely to be in obtaining that

fnancing

(5)

Classifcation concepts—

assets

Diferent types of economic resources afect a

user’s assessment of the reporting entity's

prospects for future cash fows diferently

Some future cash fows result directly from

existing economic resources (eg accounts

receivable and investment property)

Other cash fows result from using several

resources in combination to produce and mardet

goods or services to customers (eg PPE and

intangible assets) Although those cash fows

cannot be identifed with individual economic

resources (or claims), users of fnancial reports

need to dnow the nature and amount of the

(6)

Concept—asset

An asset is defned as:

a resource controlled by the entity

as a result of a past event

(7)

Asset recognition concepts

An asset is recognised when:

it is

probable

that any future economic

beneft associated with the item will fow

to the entity; and

the item has a cost or value that can be

measured with reliability

(8)

Unit of account

The unit of account is the level at which an asset is

aggregated or disaggregated for recognition

purposes

Most IFRS do not prescribe the unit of account

therefore

judgement

is required in applying

recognition criteria to an entity’s specifc

circumstances For example:

individually insignifcant items, such as moulds,

tools and dies may be aggregated when applying

the recognition criteria in IAS 16

(9)

9

Assets overview

9

Assets

Benefit

Deferred

Tax

Cost

PUC plan o

bligation

FV plan as

sets less

PUC plan o

bligation

Va

rio

us

Va

rio

us

(10)

Classifcation of assets

Diferent assets exhibit diferent

characteristics (nature) and can be held for

a variety of uses (use) in order to generate

future economic benefts

Nature and use determine the

classifcation of assets

IFRSs defnes a number of assets

For some assets signifcant

judgement

is

(11)

ASSET TYPE

USE IN BUSINESS ?

FORM OF FUTURE

ECONOMIC BENEFITS

Inventory (IAS 2)

Sale or used in production

of items for sale or in

services

Usually cash or other asset

received in exchange

PP&nE (IAS 16)

Used in production or

supply of goods or services,

rental or administration

(more than one period)

Usually cash through sale of ‘fnal’

product or service

Intangibles (IAS 38)

Used in production or

supply of goods or services

Usually cash through sale of ‘fnal’

product or service

Investment property

IAS 40)

Earn rentals or capital

appreciation, or both

Usually cash infows independent

from other assets

Financial assets

(IFRS 9)

To generate cash returns or

as a hedging instrument

Cash or other fnancial assets

received in exchange

(12)

Defnition

Inventories are assets:

held for sale in the ordinary course of

business;

in the process of production for sale; or

materials or supplies to be used in the

production for sale

(13)

Defnition

Property, plant and equipment (PPE) are

tangible items that are

held for use in the production or supply of

goods or services, for rental to others, or

for administration purposes; and

are expected to be used during more than

one period

Defnition of property, plant and

equipment

(14)

Intangible assets

The use within the business of intangible

assets is similar to that of property, plant

and equipment

An intangible asset is an identifable

non-monetary asset without physical

substance Such an asset is identifable

when it is separable, or when it arises from

contractual or other legal rights

(15)

It is sometimes difcult to assess whether an internally

generated intangible asset qualifes for recognition

because of problems in:

a

identifying whether and when there is an identifable

asset that will generate expected future economic

benefts; and

b

determining the cost of the asset reliably In some

cases, the cost of generating an intangible asset

internally cannot be distinguished from the cost of

maintaining or enhancing the entity's internally

generated goodwill or of running day-to-day operations

Therefore, special requirements in addition to the

general requirements for recognition of an internally

generated intangible asset apply

Recognition of internally

(16)

Expenditure on particular internally

generated intangible assets must be

recognised as an expense when incurred

(eg research activities—the original and

planned investigation undertaden with the

prospect of gaining new scientifc or

technical dnowledge and understanding

(17)

An intangible asset arising from the development phase of an

internal project must be recognised if, and only if, an entity can

demonstrate all of the following:

the technical feasibility of completing the intangible asset so that it

will be available for use or sale

its intention to complete the intangible asset and use or sell it

its ability to use or sell the intangible asset

how the intangible asset will generate probable future economic

benefts Among other things, the entity can demonstrate the

existence of a mardet for the output of the intangible asset or the

intangible asset itself or, if it is to be used internally, the usefulness

of the intangible asset

the availability of adequate technical, fnancial and other resources

to complete the development and to use or sell the intangible asset

its ability to measure reliably the expenditure attributable to the

intangible asset during its development

(18)

Defnition

Investment property is land or a building

(including part of a building) or both, held

to earn rentals or for capital appreciation

or both

It is neither owner-occupied (see IAS 16

Property, Plant and Equipment

) nor held

for sale in the ordinary course of business

(see IAS 2

Inventories

)

(19)

Sometimes it is difcult to identify

investment property In such cases an

entity develops criteria so that it can

exercise that judgement consistently

eg, owner of a hotel transfers some

responsibilities to third parties under a

management contract (PPE or

investment property?)

(20)

Introduction

IFRS 9 prescribes the classifcation and

measurement of fnancial assets and

completes the frst phase of the project to

replace IAS 39

Financial Instruments:

Recognition and Measurement

(21)

Fair Value

(No impairment)

Amortised cost

(one impairment

method)

Contractual cash

flow characteristics

Business model test

FVO for

OCI

presentation

available

(alternative)

Reclassification required

when business model changes

Figur

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