AKUNTANSI INSTRUMEN KEUANGAN PSAK 50, 55 DAN 60

AKUNTANSI INSTRUMEN KEUANGAN PSAK 50, 55 DAN 60 Arie Pratama, SE, M.Ak, CPSAK, CPMA, CertIFR, CPA.

Sumber: 1. Materi Pelatihan PSAK 50 & 55 Ludovicus Sensi dan Yakub 2. Materi Pelatihan PSAK 50 & 55 Sri Yanto 3. Practical Implementation Guide and Workbook IFRS, Willey 4. Quick Reference Guide to the Practical Differences between IFRS and US GAAP

BRIEF CV Arie Pratama, SE, M.Ak, CPSAK, CPMA, CertIFR, CPA(id)

Education backgorund SE  Padjadjaran University, Accounting (GPA: 3,92 out of 4.00) M.Ak  Padjadjaran University, Accounting(GPA: 3,97 out of 4.00) CPSAK  Indonesian Institute of Accountant(one time pass) CPMA  Indonesian Institute of Management Accountant (one time pass) CertIFR  Association of Chartered Certified Accountant (ACCA), United Kingdom (one time pass) CPA(id)  Indonesian Institute of Public Accountant (one time pass)

JADWAL ACARA (tentatif) Jam

Deskripsi

08.00 – 08.30

Registrasi

08.30 – 09.00

Pembukaan Pelatihan

09.00 – 10.00

Overview Instrumen Keuangan dan PSAK terkait Instrumen Keuangan

10.00 – 10.30

Coffee Break

10.30 – 12.00

PSAK 55 : Akuntansi Pengakuan dan Pengukuran Instrumen Keuangan

12.00 – 13.00

Istirahat, Shalat, dan Makan Siang

13.00 – 15.00


15.00 – 15.30

Coffee Break

15.30 – 17.00


3

JADWAL ACARA (tentatif) Jam

Deskripsi

08.30 – 10.00

PSAK 50 : Akuntansi Penyajian Instrumen Keuangan

10.00 – 10.30

Coffee Break

10.30 – 12.00

PSAK 50 : Akuntansi Penyajian Instrumen Keuangan

12.00 – 13.00

Istirahat, Shalat, dan Makan Siang

13.00 – 15.00

PSAK 60 : Akuntansi Pengungkapan Instrumen Keuangan

15.00 – 15.30

Coffee Break

15.30 – 16.30

Overview IFRS 9 dan Dampaknya pada Akuntansi Instrumen Keuangan

16.30

penutupan 4

I. THE CHANGES - Apa yang berubah ?

1. Scope 2. Classification 3. Measurement 4. Impairment

5

1. Scope Marketable securities (PSAK 50) Financial instruments (PSAK 50-55-60)

Derivative & Hedging (PSAK 55)

PSAK 50 (IAS 32) • Penyajian (presentation)

PSAK 55 (IAS 39) • Pengakuan (recognition) • Pengukuran(measurement)

PSAK 60 (IFRS 7) • Pengungkapan (disclosure)

6

Instrumen Keuangan 50,55,60 Instrumen Keuangan

• • • • •

IAS 32

IAS 39

IFRS 7

PSAK 50

PSAK 55

PSAK 60

Definisi dan klasifikasi Pemisahan liabilitas keuangan dan ekuitas Akuntansi untuk instrumen keuangan majemuk. Akuntansi untuk penarikan saham dan saham treasury Saling hapus atas aset dan liablitas

• • • •

 Pengungkapan instrumen keuangan dan risiko

Definisi, klasifikasi dan reklasifikasi Pengakuan dan penghapusan Pengukuran setelah pengakuan awal Akuntansi untuk derivarif untuk diperdagangkan dan hedging.

7

2. Classification Intention (PSAK lama)

Intention and ability (PSAK Baru)

Trading

Fair value through profit or loss

Available for sale

Available for sale

Trading Fair value option

Hold to maturity Hold to maturity Loan and receivable 8

3. Measurement Simple interest

Effective interest

Mark to market Mark to market

Mark to fair value Mark to model

9

4. Impairment Expected losses

Incurred losses

Individual provisioning Generic provisioning Collective provisioning

10

II. SCOPE & DEFINITIONS

11

1. Scope (Ruang Lingkup) PSAK 50 and 55

PSAK 50

Out of scope

Debt and equity investments

Investments in subsidiaries, associates and joint ventures

Loans and receivables

Lease receivables

Own debt

Own equity

Lease payables Tax balances Employee benefits

Derivatives on own shares settled only by delivery of a fixed number of shares for a fixed amount of cash

Own use commodity contracts

Cash and cash equivalents Derivatives

Financial guarantees

Derivatives on subsidiaries, associates and joint ventures Embedded derivatives Loan commitments held for trading

Other loan commitments Insurance contracts

12

2. Investment in share No significance influence, jointly control, or control

Significance influence

<20%

20<50%

Financial instrument

Associates

Joint venture

Subsidiary

Fair value

Equity method

Equity method or Proportionate consolidation

Consolidation

Jointly control

Control

>50%

13

3. Financial Instruments

Financial Assets

Financial Liabilities FVPL

Plain

Amortised Cost

Compound

FVPL Basic Financial Assets

AFS HTM

Equity Instruments

LR

Plain Derivatives Embedded Cash flow Accounting Hedge

Fair value

Hedging Macro Hedge

Net investment

14

4. Definition  Financial

instrument is any contract that gives

rise to: a financial asset of one entity and a financial liability or equity instrument of another entity  Instrumen

Keuangan

setiap kontrak yang menambah nilai: aset keuangan entitas , dan (disisi lain) kewajiban keuangan atau instrumen ekuitas entitas lain. 15

5. Financial asset   

Cash An equity instrument of another entity A contractual right to receive cash or another financial asset from another entity; or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or



A contract that will or may be settled in the entity’s own equity instruments and is: A non derivative A derivative 16

6. Financial liability A contractual obligation: to deliver cash or another financial asset to another entity; or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or  A contract that will or may be settled in the entity’s own equity instruments and is: a non derivative a derivative 

17

Cont’d 

Kewajiban Keuangan setiap kewajiban yang berupa: Kewajiban kontraktual: untuk menyerahkan kas atau aset keuangan lain kepada entitas lain; atau untuk mempertukarkan aset keuangan atau kewajiban keuangan dengan entitas lain dengan kondisi yang berpotensi tidak menguntungkan entitas;

kontrak yang akan atau mungkin diselesaikan dengan menggunakan instrumen ekuitas yang diterbitkan entitas dan merupakan suatu: non derivatif; atau derivatif 18

7. Equity instrument 

Any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities

 Instrumen Ekuitas Setiap kontrak yang memberikan hak residual atas aset suatu entitas setelah dikurangi dengan seluruh kewajibannya.

19

PERHATIAN !  We should clarify some points arising from these definitions. Firstly, one or two terms above should be themselves defined.  A contract need not be in writing, but it must comprise an agreement that has clear economic consequences and which the parties to it cannot avoid, usually because the agreement is enforceable in law.  An equity here could be an individual, partnership, incorporated body or government agency. 20

PERHATIAN !  The definitions of financial assets and financial liabilities may seem rather circular, referring as they do to the terms financial asset and financial instrument. The point is that there may be a chain of contractual rights and obligations, but it will lead ultimately to the receipt or payment of cash or the acquisition or issue of an equity instrument.

21

PERHATIAN !  IAS 32 makes it clear thet the following items are not financial instruments:  Physical assets, eg inventories, property, plant and equipment, leased assets and intangible assets (patents, trademarks etc)  Prepaid expense, deferred revenue and most warranty obligations  Liabilities or assets that are not contractual in nature  Contractual rights/obligations that do not involve transfer of a financial asset, eg commodity futures contracts, operating lease. 22

Latihan Soal – Case 1 

Mohon identifikasi apakah item berikut ini dapat diklasifikasikan sebagai financial asset atau financial liability, serta alasannya.

1.

Company A is evaluating whether each of these items is a financial instrument and whether it should be accounted for under IAS 32 (PSAK 50). a. Cash deposited in banks b. Gold bullion deposited in banks c. Trade accounts receivable d. Investments in debt instruments e. Investments in equity instruments, where Company A does not have significant influence over the investee f. Investments in equity instruments, where Company A has significant influence over the investee

23

Latihan Soal – Case 1 

Company A is evaluating whether each of these items is a financial instrument and whether it should be accounted for under IAS 32 (PSAK 50). g. Prepaid expenses h. Financial lease receivables or payables i. Deferred revenue j. Statutory tax liabilities k. Provision for estimated litigation losses l. An electricity purchase contract that can be net settled in cash m. Issued debt instruments n. Issued equity instruments

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CLASSIFICATION & RECLASSIFICATION

FINANCIAL INSTRUMENTS

Sumber: 1. Materi Pelatihan PSAK 50 & 55 Ludovicus Sensi dan Yakub 2. Materi Pelatihan PSAK 50 & 55 Sri Yanto 3. Practical Implementation Guide and Workbook IFRS, Willey 4. Quick Reference Guide to the Practical Differences between IFRS and US GAAP

I. CLASSIFICATION a. Financial Asset b. Financial Liability c. Equity Instruments

26

A. Financial assets 1

2 Fair value through profit or loss

Trading

3 Hold to maturity

4 Loan and receivable

Available for sale

Fair value option Accounting mismatch Managed & evaluated by FV

27

1


Conditions (syarat) It is classified as held for trading  Upon initial recognition it is designated by the entity as at fair value through profit or loss (fair value option) 

a.

Trading acquired or incurred principally for the purpose of selling or repurchasing it in the near term  part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short term profit taking  a derivative (except for a derivative that is a designated and effective hedging instrument) 

28

... b.

Fair value option  Upon

initial recognition it is designated by the entity as at fair value through profit or loss, regardless the purpose for stand-by or held to maturity

 Objectives:

Eliminate accounting mismatch Entities that are managed and evaluated on basis of fair value

29

2

Held to maturity

 Conditions 1.

2.



Non derivative financial assets with fixed or determinable payments and fixed maturity Entity has the positive intention and ability to hold to maturity

Exception 1. 2. 3.

Determination FVTPL Availabel for sale Meet definition of LR 30

HTM – No positive intention 

The entity intends to hold the financial asset for an undefined period



The entity stands ready to sell the financial asset (other than if a situation arises that is non recurring and could not have been reasonably anticipated by the entity) in response to changes in market interest rates or risks, liquidity needs, changes in the availability of and the yield on alternative investments, changes in financing sources and terms or changes in foreign currency risk; or



The issuer has a right to settle the financial asset at an amount significantly below its amortized cost

31

HTM – No ability  It

does not have the financial resources available to continue to finance the investment until maturity

 It

is subject to an existing legal or other constraint that could frustrate its intention to hold the financial asset to maturity

32

3



Loan and Receivable

Conditions non-derivative financial assets with fixed or determinable payments not quoted in an active market



Excepts those that the entity intends to sell immediately or in the near term, which shall be classified as held for trading, and those that the entity upon initial recognition designates as at fair value through profit or loss; those that the entity upon initial recognition designates as available for sale those for which the holder may not recover substantially all of its initial investment, other than because of credit deterioration, which shall be classified as available for sale 33

4

Available for Sale

 Conditions

those non-derivative financial assets that are designated as available for sale are not classified as loans and receivables, held-tomaturity investments, or financial assets at fair value through profit or loss

34

B. Financial liability 1

2 Fair value through profit or loss

Trading

Fair value option

Amortised cost

Other Liability

Umum Terjadi

Sangat Jarang Terjadi

35

C. Equity Instruments  Equity instrument. Any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities.  This definition reflects the basic accounting equation that states that equity equals assets less liabilities.  Example of equity instruments include:  Ordinary shares (that cannot be put back to the issuer by the holder)  Preference shares (that cannot be redeemed by the holder or provide for nondiscretionary dividends)  Warrants or written call options (that allow the holder to subsribe for-or purchase-a fixed number of nonputtable ordinary shares in exchange for a fixed amount of cash or another financial asset). 36

Latihan Soal – Case 2 Shipping Manufacturing Limited (SML) is experienced in making different kind of vessels and ships. Worldwide Transportation Group (WTG), one of the largest marine transportation groups, intends to order 100 cargo vessels from some shipping manufacturers. As a small shipping manufacturer, SML is required to deposit $1 million for the bidding process of WTG. If SML is elected as one of the manufacturers to make the new vessels for WTG, the deposit will be retained by WTG and will not be returned to SML until the contract completed. The estimated duration of contract is about 3 years.

Discuss the proper initial measurement of the deposit in SML’s financial statements. 37

Latihan Soal Case 3 Seven Ball Limited purchases a five-year debt instrument with a principal amount of $10 million that is indexed to the share price of Balloon Limited. At maturity, Seven Ball Limited will receive the principal amount plus or minus the change in the fair value of 1 million shares of Balloon Limited. The current share price is $80. No separate interest payments are made in the debt instruments. The purchase price is $10 million. Seven Ball Limited classifies the debt instrument as available for sale. Required: Is this an example of hybrid instrument? Assuming the market interest rate is 10%, calculate the initial measurement of the debt instrument. 38

II. RECLASSIFICATION

39

Highlight never


Held to maturity

never

never

never

never

never

never

never

Loan and receivable

Allowed only when active market emerged after classification

When active marker rose

Under certain conditions

Under certain conditions

never

Available for sale

40

HTM to AFS Permitted Not more than not significant Fulfill condition in slide 11-13

If not meet the conditions All remain investment in HTM shall be reclassified to AFS No more HTM in year of reclassification and next two year 41

AFS AFS to HTM Changes in intention or ability After “tainting rule”

LR to AFS Active market rise

42

Impact of reclassification From

To

FVPL

Profit or loss

Equity

-

-

-

FV – BV date of reclassification

HTM

AFS

LR

AFS

FV – BV date of reclassification

AFS

HTM

• Amortise gain or loss in equity to profit or loss (fixed maturity) • Gain or loss in equity transfer to profit or loss when sold/disposed (not fixed maturity)

43

43

Reklasifikasi HTM (Tainting Rules) Aset HTM

DIJUAL

TAINTING RULES

more then insignificant amount

Klasifikasi HTM Dapat digunakan Lagi

Dijual / Direklasifikasi 09 Juni 2008

31 Des 2008

Thn 2011

31 Des 2009

31 Des 2010

Tainting Cleansed Period

HTM

AFS

44

Catatan Penting Reklasifikasi Pengecualian tainting rules dalam penjualan / reklasifikasi aset HTM : 1. Dilakukan mendekati tanggal jatuh tempo, sehingga perubahan market rate tidak berpengaruh signifikan terhadap nilai wajarnya; 2. Terjadi setelah entitas memperoleh secara substansial seluruh jumlah pokok aset keuangan sesuai jadwal pembayaran atau entitas telah memperoleh pelunasan dipercepat; 3. Terkait dengan kejadian tertentu yang berada di luar kendali entitas, tidak berulang dan tidak dapat diantisipasi secara wajar oleh entitas.

45

Financial liability Fair value through profit or loss

Trading

Amortised cost

Fair value option Accounting mismatch Managed & evaluated by FV

No reclassification 46

Latihan Soal – Case 4 Reclassification of Remaining Held-to-Maturity Investments Due to Tainting FACTS: Assume that U.S. International, Inc. has sold enough investments classified as held-to-maturity (under conditions not exempted by IAS 39) such that the aggregate of such sold investments constitutes more than an insignificant amount. Also assume that, after the sales, U.S. International had the following investments in its held-to-maturity portfolio (with their respective amortize cost and fair value): Amortized cost

Fair value

Largeman Industries, Inc. bonds

$140,000

$128,000

Cheris Corp. bonds

85,000

85,000

Farber Associates Inc. bonds

111,000

116,000

Crook & Co. bonds

44,000

40,000

$380,000

$369,000

47

Latihan Soal – Case 4 SOLUTION: In accordance with IAS 39, if more than an insignificant amount of held-to-maturity investments are sold or reclassified (and the sales do not qualify for exemption), all remaining held-to-maturity investments must be reclassified as available for sale, with the difference between their carrying amounts investments and their fair values on the date of reclassification recognized in other comprehensive income. U.S. International would thus make the following journal entry to record the reclassifications:

48

Latihan Soal – Case 4 Investment in Largeman bonds (available for sale) Investment in Cheris bonds (available for sale) Investment in Farber bonds (available for sale) Investment in Crook bonds (available for sale) Other comprehensive income ($380,000 − $369,000) Investment in Largeman bonds (held to maturity) Investment in Cheris bonds (held to maturity) Investment in Farber bonds (held to maturity) Investment in Crook bonds (held to maturity)

128,000 85,000 116,000 40,000 11,000 140,000 85,000 111,000 44,000

Note that the fair value at the time of reclassification of each investment becomes its amortized cost in the available-for-sale category for purposes of subsequent accounting.

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RECOGNITION & MEASUREMENT

FINANCIAL INSTRUMENT

Sumber: 1. Materi Pelatihan PSAK 50 & 55 Ludovicus Sensi dan Yakub 2. Materi Pelatihan PSAK 50 & 55 Sri Yanto 3. Practical Implementation Guide and Workbook IFRS, Willey 4. Workbook: Quick Reference Guide to the Practical Differences between IFRS and US GAAP

Lingkup Bahasan 

Pengukuran (measurement) 1. 2. 3. 4.

Pengukuran Awal (Initial Measurement) Aset Keuangan dan Kewajiban Keuangan Pengukuran Aset Keuangan setelah Pengakuan Awal (Subsequent Measurement) Pengukuran Kewajiban Keuangan setelah Pengakuan Awal (Subsequent Measurement) Pertimbangan dalam Pengukuran Nilai Wajar (Fair Value Consideration)

51

1. Initial measurement Financial instruments (financial assets & financial liabilities)

Measured at Fair value through profit or loss

Not measured at Fair value through profit or loss

Fair value

Fair value + transaction costs

Incremental costs Transaction costs Directly attributable

52

Interest free loan Entity A lends Rp1.000 to Entity B, 5 year, no interest, as LR Entity A expects other econimic benefits Similiar loan, interest 10% Initial measurement PV (1000,5,10%) = 621 Loan

621

Expense/other asset

379

Cash

1.000

53

SUBSEQUENT MEASUREMENT -

FINANCIAL ASSETS

54

Subsequent measurements Classification

Subsequent measurement

Changes in fair value

Changes in amortized costs

Impairment (If objective evidence)


Fair value

Profit or loss

-

No

Available for sale

Fair value

Equity (other comprehensive income)

Profit or loss

Yes

Held to maturity

Amortized cost with effective interest rate method

-

Profit or loss

Yes

Loan and receivable

Amortized cost with effective interest rate method

-

Profit or loss

Yes

55

Equity instruments – cost  Conditions

Not quoted in active market; and Its fair value can’t be determined reliably 

Fair value can’t be determined reliably the variability in the range of reasonable fair value estimates is not significant for that instrument or the probabilities of the various estimates within the range can be reasonably assessed and used in estimating fair value 56

56

Cont’d 

Availability of fair value Not available become available >>> classified as available for sale (fair value) Available become not available >>> classified as available for sale (at cost) Changes in fair value (equity) not to reclassified

No reversal impairment

57

Pengukuran Aset Keuangan setelah Pengakuan Awal (Conclusion) Nilai wajar tanpa dikurangi biaya penjualan/pelepasan

KECUALI UNTUK: Pinjaman Diberikan & Piutang

Investasi Dimiliki hingga Jatuh Tempo

harga perolehan diamortisasi dengan metode suku bunga efektif

Instrumen Ekuitas (yang tak memiliki kuotasi & nilai wajar)

Derivatif terkait dengan instrumen ekuitas (yang tak memiliki kuotasi & nilai wajar)

harga perolehan

58

SUBSEQUENT MEASUREMENT -

FINANCIAL LIABILITIES

59

Subsequent measurement Classification


Changes in fair value

Changes in amortized costs

Liabilities measured at fair value through profit or loss

Fair value

Profit or loss

-

Other liabilities

Amortized costs with effective interest rate method

-

Profit or loss

60

Cont’d Financial liabilities


Financial liabilities that arise when a transfer of a financial asset does not qualify for de-recognition

• Shall continue to recognize the transferred asset in its entirety • Shall recognize a financial liability for the consideration received

Financial liabilities that arise when a transfer of a financial asset when the continuing involvement approach applies

The extent to which it is exposed to changes in the value of the transferred asset

61

Kewajiban: Suku bunga efektif Ilustrasi Metode Suku Bunga Efektif : Perusahaan XYZ menerbitkan Obligasi, 5 th, dengan nominal Rp. 100 juta, dengan harga Rp. 94.418.000,-. Bunga = 8% p.a, dibayar tahunan. Biaya transaksi untuk menjual obligasi tsb = Rp. 2.000.000,Tahap 1 – Menentukan nilai pada saat pengakuan awal (cost at initial recognition) Cost = Rp. 94.418.000 - Rp. 2.000.000 = Rp. 92.418.000,Tahap 2 – Kalkulasi suku bunga efektif 8.000

8.000

8.000

10% 92.418

8.000

108.000

Cash Flow 92,418,000 1 - 8,000,000 2 - 8,000,000 3 - 8,000,000 4 - 8,000,000 5 - 108,000,000 - 47,582,000 EIR 10.00%

62

Suku bunga efektif Ilustrasi Metode Suku Bunga Efektif : Tahap 3 – Amortisasi harga perolehan dengan suku bunga efektif

Thn

Book Value Awal

Effective interest rate 10.00%

actual interest paid

Amortised cost with E IR

actual principal paid

Book Value Akhir

(1)

(2)

(3)=(2)xEIR

(4)

(5)=(3)-(4)

(6)

(7) = (2)+(5)-(6)

1

92,418,000

9,241,910

8,000,000

1,241,910

-

93,659,910

2

93,659,910

9,366,102

8,000,000

1,366,102

-

95,026,012

3

95,026,012

9,502,714

8,000,000

1,502,714

-

96,528,725

4

96,528,725

9,652,987

8,000,000

1,652,987

-

98,181,712

5

98,181,712

9,818,288

8,000,000

1,818,288

100,000,000

-

63

Jurnal Amortized Cost

FVTPL

Pada saat penerbitan:

Pada saat penerbitan:

Db. Kas 92.418.000 Kr. Hutang Obligasi 92.418.000

Akhir periode 1: Db. Beban Bunga Kr. Kas Kr. Hutang Obligasi

9.241.910 8.000.000 1.241.910

Jurnal pengakuan bunga dan penyesuaian berikutnya dilakukan berdasarkan tabel amortisasi.

Db. Kas Db. Beban Transaksi Kr. Hutang Obligasi

92.418.000 2.000.000 94.418.000

Akhir periode berikutnya, misal, nilai wajar obligasi menjadi 93.000.000:

Db. Hutang Obligasi Kr. Untung

1.418.000 1.418.000

Selanjutnya disesuaikan dengan nilai wajar

64

Implementation issues in a retail bank Effective interest rate calculation on loans • Under IFRS, loans are accounted at amortised cost and interest rates recorded in P&L under the effective interest rate method • Heavy operational implications to adapt the IT systems • For most banks, effective interest rate calculations have been implemented in the systems for standard fixed rate loans only

Implementation issues in a retail bank Effective interest rate calculation on loans • For floating rate loans, IAS 39 requires effective interest rate to be reassessed at each period end • This requirement is hard and costly to achieve in the systems • It also creates volatility Operational shortcut applied by many banks :  effective interest rate on floating rate loans are only calculated at inception and maintained throughout the life of the instrument  requirement however to demonstrate that this shortcut has no material impacts

Implementation issues in a retail bank Identification of loans that are off-market rates • It requires the initial value of loans granted at offmarket rate to be adjusted • The difference between the amount granted and the initial value is recorded in P&L • In order to identify off-market rates on an operational basis two approaches have been followed : – Develop an IT system to benchmark actual loans rates with average rates calculated internally by controlling. Loans below “x” basis points as compared to the controlling rates are considered off market – Other banks consider that rates are market rates as long as they can demonstrate that other banks issue loans at similar rates

Implementation issues in a retail bank Impairment of loan portfolios • Loan are impaired only if their is objective evidence of a risk (incurred losses) • Impairment at inception of the loan are specifically forbidden • Impairment is therefore only allowed if the three following conditions are met : – Loss event – Occurring after the loan is granted and before period end – That has a measurable impact on the future cash flows of the loan

FAIR VALUE – APA ARTINYA ?

69

RUANG LINGKUP FAIR VALUE DALAM PSAK Aset Tetap

Instrumen Keuangan PSAK 50,55,60

PSAK 16

FAIR VALUE IFRS 13

PSAK 48, 58

Agikultur

IAS 41

PSAK 13

PSAK 19

Properti Investasi

Aset takberwujud

Penurunan Nilai

Aset Tidak Lancar Dimiliki untuk Dijual dan Operasi yang Dihentikan

70

Definisi Fair Value IFRS 3 Fair value adalah harga yang diterima atas penjualan aset atau pembayaran untuk mentransfer liabilitas dalam transaksi antar pihak yang berkepentingan pada tanggal pengukuran.

• “...the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date.” IFRS 13 para 9

71

Definisi Fair Value IFRS 3 Exit price didaarkan pada pasa aktif. Jika tidak ada didasarkan teknik valuasi. Bukan berasal dari transaksi dari pihak yang mengalami kesulitan keuangan Nilai fair value merupkan pengukuran pasar, bukan ukuran spesifik suatu entitas. Konsekuensinya entitas yang memiliki keinginan untuk memegang aset tersebut atau menjualnya tidak relevan dalam pengukuran nilai wajar. Biaya transaksi diabaikan karena bukan merupakan karakteristik dari aset dan liabilitas yang diukur. Mengasumsikan terjadi di pasar.

72

Hirarki Fair Value Yes

Apakah ada harga kuotasian dalam pasar aktif untuk aset atau liabilitas yang identik (Level 1)

* Maksimumkan input yang dapat diobservasi, termasuk informasi pasar dan informasi publik lainnya ‡ Input yang tidak dapat diobservasi diantaranya data entitas (anggaran, proyeksi), harus disesuaikan jika pelaku pasar menggunakan asumsi berbeda

No

Apakah ada input selain harga kuotasioan yang dapat diobservasi*

Gunakan nilai wajar pengukuran dengan Level 1 Harus digunakan tanpa penyesuaian

73

No Yes

Gunakan input selain Harga kuotasian yang dapat diobservasi baik secara langsung atau tidak langsung, pengukuan ‡ Level 2 73

Gunakan input yang bukan berdasarkan harga pasar yang dapat diobservasi. Level 3

IMPAIRMENT

74

Impairment 

The amount by which the carrying amount of an asset exceeds its recoverable amount



There is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (loss event)



The loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated



Impairment more permanent than changes in fair value (temporary) 75

Process of impairment Indications of impairment

no

yes

Calculate impairment loss

no impairment loss

impairment loss

76

Cont’d 

Significant financial difficulty of the issuer or obligor



The lender, for economic or legal reasons relating to the borrower’s financial difficulty, granting to the borrower a concession that the lender would not otherwise consider



A breach of contract, such as a default or delinquency in interest or principal payments 77

Cont’d 

It becoming probable that the borrower will enter bankruptcy or other financial reorganization



The disappearance of an active market for that financial asset because of financial difficulties



Observable data indicating that there is a measurable decrease in the estimated future cash flows from a group of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the group 78

Type of impairment  Type of

impairment

Individual Collective  Level of

materiality to determine individual and collective impairment

79

Cont’d 

Individual Indications of individual impairment >>> calculate impairment loss If no impairment loss >>> add to collective impairment Calculation based on discounted expected future cash flow with original EIR



Collective There are indication of impairment for individual, but no impairment loss Not material Historical loss data for minimal 3 years (i.e. migration analysis) 80

Summary – Financial assets Classifi cation

Type of Instrument

Initial Measurement

Subsequent Measurement

Impairment

FVTPL

Debt, equity and derivative

•Fair value •Transaction costs as expense

•Fair value •FV changes in profit or loss

-

HTM

Debt


Amortised costs by EIR

•Impairment loss •Reverse impairment loss (not exceed carrying amount if no impairment)

LR

Debt

Idem

Idem

Idem

AFS

Debt

Fair value + transaction cost

•Amortised costs by EIR •Fair value •FV changes in OCI

•Impairment loss •Reverse impairment loss (not exceed carrying amount if no impairment)

Equity


•Fair value •FV changes in OCI

•Impairment loss •Reverse impairment loss

Equity (not reliably measurable)


Costs

•Impairment loss •No reverse impairment loss

81

Perhatian !  The

impairment requirements apply to these types of financial assets:    

Loans and receivables. Held-to-maturity investments Available-for-sale financial assets Investments ain unquoted equity instruments whose fair value cannot be reliably measured.

82

Perhatian !  The

only category of financial assets that is not subject to testing for impairment s financial assets at fair value through profit or loss, because any declines in value for such assets are recognized immediately in profit or loss irrespective of whether there is any objective evidence of impairment.

 Financial

liabilities are not subject to testing for impairment. 83

Perhatian ! 

For loans and receivables and held-to-maturity investments, impaired assets are measured at the present value of the estimated future cash flows discounted using the original effective interest rate of the financial assets (i.e., the effective interest rate that is used to determine amortized cost).



Any difference between the previous carrying amount and the new measurement of the impaired asset is recognized as an impairment loss in profit or loss. The would be the case if the estimated future cash flows have decreased. 84

Latihan Soal – Case 5 Tat Keung Limited lends $2 million to Customer LC. Based on historical experience, Tat Keung Limited expects that 2% of the principal amount of loans given will not be recovered. In view of subprime and credit crunch in the United States and worldwide market, the directors of Tat Keung Limited proposed to recognise an immediate impairment loss of $40,000 when the loan is made to Customer LC.

Please discuss whether this treatment is allowed by PSAK 55. 85

INSTRUMEN KEUANGAN: PENYAJIAN DAN PENGUNGKAPAN

2. Presentation Presentation from the perspective of the issuer on Liability and equity Compound financial instruments Treasury shares Interests, dividends, losses and gains Offsetting

The issuer of a financial instrument is required to classify the instrument, or its component parts, on initial recognition as a financial liability, a financial asset or an equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial liability, a financial asset and an equity instrument.

2. Presentation Presentation from the perspective of the issuer on Liability and equity

2. Presentation Presentation from the perspective of the issuer on Contractual Obligation to Deliver Cash/Financial Asset Liability and equity

In differentiating a financial liability from an equity instrument, a critical feature is the existence of a contractual obligation of an issuer either 1. to deliver cash or another financial asset to the holder or

2. to exchange financial assets or financial liabilities with the holder under conditions that are potentially unfavourable to the issuer. For equity instrument, an issuer has no such contractual obligation. If an entity does not have an unconditional right to avoid delivering cash or another financial asset to settle a contractual obligation,  the obligation meets the definition of a financial liability.

Latihan Soal – Case 6 2.

During 2004, entity A has issued a number of financial instruments. It is evaluating how each of these instruements should be presented under IAS 32: a. A perpetual bond (i.e., a bond that does not have a maturity date) that pays 5% interest each year. b. A mandatory redeemable share with a fixed redemption amount (i.e., a share that will be redeemed by the entity at a future date) c. A share that is redeemable at the option of the holder for a fixed amount of cash. d. A sold (written) call option that allows that holder to purchase a fixed number of ordinary shares from Entity A for a fixed amount of cash.

Required For each of the above instruments, discuss whether it should be classified as a financial liability and, if so, why.

90

2. Presentation

Example

A preference share with a legal form of equity but it is a financial liability if: It provides for mandatory redemption by the issuer for a fixed or determinable amount at a fixed or determinable future date. It gives the holder the right to require the issuer to redeem the instrument at or after a particular date for a fixed or determinable amount.

The following circumstances indicate that an entity does not have unconditional right to avoid delivering cash or another financial asset: 1. A restriction on the ability of an entity to satisfy a contractual obligation, such as lack of access to foreign currency or the need to obtain approval for payment from a regulatory authority; and 2. A contractual obligation that is conditional on a counterparty exercising its right to redeem.

2. Presentation Presentation from the perspective of the issuer on Liability and equity

Settlement in an Entity’s Own Equity Instruments A contract is not an equity instrument solely because it may result in the receipt or delivery of the entity’s own equity instruments. ‒ An entity may have a contractual right or obligation to receive (or deliver) a number of its own shares (or other equity instruments) that varies so that the fair value of the entity’s own equity instruments to be received (or delivered) equals the amount of the contractual right (or obligation). ‒ A contract that will be settled by the entity delivering or receiving a fixed number of its own equity instruments in exchange for a variable amount of cash or another financial asset is also a financial asset or financial liability.

2. Presentation

Example

Knut Limited contracted to deliver 100 shares of its own equity instruments in return for an amount of cash calculated to equal the value of 1,000 ounces of gold. Is it an equity instrument?

The contract is not an equity instrument. Even a fixed number of Knut’s own equity instrument will be delivered, Knut will receive a variable amount of cash calculated to equal the value of 1,000 ounces of good. Knut’s fixed number of its own equity instrument is thus not exchanged for a fixed amount of cash or a fixed amount of another financial asset.

2. Presentation Presentation from the perspective of the issuer on Contingent Settlement Provisions Liability and equity

Require the entity to deliver cash or another financial asset in the event of the occurrence or non-occurrence of uncertain future events (or on the outcome of uncertain circumstances) that are beyond the control of both the issuer and the holder of the instrument. Even there is contingent settlement provision in an instrument, the issuer still does not have the unconditional right to avoid delivering cash or another financial asset. Therefore, it is a financial liability of the issuer unless: 1. the part of the contingent settlement provision that could require settlement in cash or another financial asset is not genuine; or 2. the issuer can be required to settle the obligation in cash or another financial asset only in the event of liquidation of the issuer.

2. Presentation Presentation from the perspective of the issuer on Settlement Options Liability and equity

When a derivative financial instrument gives one party a choice over how it is settled (e.g. the issuer or the holder can choose settlement net in cash or by exchanging shares for cash), ‒ it is a financial asset or a financial liability

• unless all of the settlement alternatives would result in it being an equity instrument.

2. Presentation Presentation from the perspective of the issuer on The issuer of a non-derivative financial instrument is also required to evaluate the terms of the financial instrument to determine whether it contains both Compound financial instruments

‒ a liability, and ‒ an equity component. IAS 32 addresses the requirements on separating a compound financial instrument from the issuer’s perspective while IAS 39 sets out the requirements from the holder’s perspective. Both are explained together in section 5 of Chapter 15.

Latihan Soal – Case 7  The sum of the initially recognized carying amounts of the iability and equity components always equals the amount that would have been assigned to the instrument as a whole. 

Entity A issues a bond with a principal amount of $100,000. The holder of the bond has the right to convert the bond into ordinary shares of Entity A. On issuance, Entity A receives proceeds of $100,000. By discounting the principal and interest cash flows of the bond using interest rates for similar bonds without an equity component, Entity A determines that the fair value of a similar bond without any equity component would have been $91,000. Therefore, the initial carrying amount of the liability component $91,000. The initial carrying amount of the equity component is computed as the difference between the total proceeds (fair value) of $100,000 and the initial carrying amount of the liability component of $91,000. Thus the initial carrying amount of the equity component is $9,000.



Bagaimana jurnal entri nya? 97

Latihan Soal – Case 7 

Entity A makes journal entry: Dr

Cash Cr Cr

100,000 Financial liability Equity

91,000 9,000

The subsequent accounting for the liability component is governed by IAS 39. For instance, if the liability component is measured at amortized cost, the difference between the initial carrying amount of the liability component ($91,000 in the example) ad the principal amount at maturity ($100,000 in the example) is amortized to profit or loss as an adjustment of interest expense in accordance with the effective interest method. This has the effect of increasing interest expense as compared with the stated interest rate on the bond.

98

2. Presentation Presentation from the perspective of the issuer on Treasury shares (an entity’s own equity instruments reacquired by itself or its subsidiaries) Those instruments are deducted from equity Cannot be classified as an asset Treasury shares

No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of an entity’s own equity instruments. Such treasury shares may be acquired and held by the entity or by other members of the consolidated group. Consideration paid or received is reognised directly in equity.

The amount of treasury shares held is disclosed separately either on the face of the balance sheet or in the notes.

Accounting for Treasury Shares Illustration 11-8

Illustration: On February 1, 2011, Mead acquires 4,000 shares of its share at $8 per share. Treasury shares (4,000 x $8) Cash

32,000 32,000

SO 3 Explain the accounting for treasury shares.

Accounting for Treasury Shares Equity Section with Treasury Shares Illustration 11-9

Both the number of shares issued (100,000), outstanding (96,000), and the number of shares held as treasury (4,000) are disclosed. SO 3 Explain the accounting for treasury shares.

Accounting for Treasury Shares Disposal of Treasury Shares Above Cost Below Cost Both increase total assets and equity.


Above Cost

Accounting for Treasury Shares

Illustration: On February 1, 2011, Mead acquired 4,000 of its share at $8 per share. On July 1, Mead sells for $10 per share 1,000 shares of its treasury share, previously acquired at $8 per share. July 1

Cash

10,000

Treasury shares (1,000 x $8)

8,000

Share premium - treasury

2,000

A corporation does not realize a gain or suffer a loss from share transactions with its own shareholders. SO 3 Explain the accounting for treasury shares.

Below Cost


Illustration: On February 1, 2011, Mead acquired 4,000 of its share at $8 per share. On Oct. 1, Mead sells an additional 800 treasury shares at $7 per share. Oct. 1

Cash

5,600

Share premium - treasury Treasury shares (800 x $8)

800 6,400


Below Cost


Illustration: On February 1, 2011, Mead acquired 4,000 of its share at $8 per share. On Dec. 1, assume that Mead, Inc. sells its remaining 2,200 shares at $7 per share. Dec. 1 Cash

15,400

Share premium - treasury

1,200

Retained earnings

1,000

Treasury shares (2,200 x $8)

Limited to balance on hand

17,600


2. Presentation Presentation from the perspective of the issuer on Interest, dividends, losses and gains relating to a financial instrument or a component that is a financial liability are recognised as income or expense in profit or loss. Distributions to holders of an equity instrument  dividends are debited by the entity directly to equity, net of any related income tax benefit.

Interests, dividends, losses and gains

Transaction costs of an equity transaction, other than costs of issuing an equity instrument that are directly attributable to the acquisition of a business, shall be accounted for as a deduction from equity, net of any related income tax benefit.

2. Presentation Presentation from the perspective of the issuer on Financial asset and a financial liability are offset and the net amount presented in the balance sheet when, and only when, an entity: 1. currently has a legally enforceable right to set off the recognised amounts; and 2. intends either

to settle on a net basis, or to realise the asset and settle the liability simultaneously. Offsetting

In accounting for a transfer of a financial asset that does not qualify for derecognition,

‒ the entity is not allowed to offset the transferred asset and the associated liability

PSAK 60



PSAK 60 mengatur persyaratan pengungkapan dalam laporan keuangan terhadap instrumen keuangan.



Sebelumnya diatur dalam PSAK 50 (revisi 2006): Instrumen Keuangan: Penyajian dan Pengungkapan ED PSAK 60 diadopsi dari IFRS 7 versi Maret 2009



108

Perubahan PSAK 50  PSAK 50 & PSAK 60



Pengaturan mengenai pengungkapan Instrumen Keuangan yang berbeda dari pengaturan sebelumnya adalah: Ruang Lingkup, mengatur hal‐hal yang sebelumnya belum diatur Menegaskan signifikansi dari instrumen keuangan Penjelasan lebih rinci mengenai risiko likuiditas

109

Ruang Lingkup 

Untuk semua entitas dengan seluruh jenis instrumen keuangan, kecuali: Penyertaan dalam entitas anak, entitas asosiasi dan ventura bersama, kecuali PSAK 4, 12, dan 15 menginjinkan menerapkan sesuai PSAK 55 (r2006) Hak dan kewajiban imbalan kerja (PSAK 24) Kontrak asuransi (PSAK 28) Instrumen, kontrak dan kewajiban keuangan dari transaksi berbasis saham (ED PSAK 53) Instrumen ekuitas – puttable Instrument (ED PSAK 50 (r 2010)) 110

Signifikansi Instrumen Keuangan Instrumen keuangan signifikan mempengaruhi posisi keuangan perusahaan. Secara lebih tegas mensyaratkan entitas untuk mengungkapkan informasi yang memungkinkan pengguna laporan keuangan untuk mengevaluasi signifikansi instrumen keuangan terhadap posisi dan kinerja keuangan.

Laporan Posisi Keuangan Hal yang tidak disyaratkan dalam pengungkapan sebelumnya dalam Laporan Posisi Keuangan: Nilai tercatat tiap kategori Jika menetapkan pinjaman yang diberikan dan piutang dan liabilitas keuangan yang diukur pada nilai wajar melalui laporan laba rugi. Jumlah reklasifikasi ke dan dari setiap kategori Rekonsiliasi perubahan pos penurunan nilai selama periode berjalan untuk setiap kelompokaset keuangan

112

11 3

Laporan Laba Rugi Komprehensif Hal yang tidak disyaratkan dalam pengungkapan sebelumnya dalam Laporan Laba Rugi Komprehensif: Laba atau rugi neto aset keuangan atau liabilitas keuangan Total pendapatan dan beban bunga Pendapatan dan beban imbalan dari aset atau liabilitas keuangan dan aktivitas wali amanat Pendapatan bunga dari aset keuangan yang mengalami penurunan nilai Jumlah kerugian penurunan nilai 114

11 5

Pengungkapan Nilai Wajar Pengukuran nilai wajar yang diakui dalam laporan posisi keuangan mengungkapkan: Tingkatan Hirarki Nilai Wajar: Tingkatan Tingkat 1

harga kuotasian (belum disesuaikan) dalam pasar aktif untuk aset Tingkatyang 1 identik; atau liabilitas

Tingkat 2

input selain harga kuotasian yang termasuk dalam Tingkat 1 yang dapat diobservasi untuk aset atau liabilitas, baik secara langsung 2 (yaituTingkat sebagai harga) atau secara tidak langsung (yaitu diperoleh dari harga); dan

Tingkat 3

inputTingkat untuk aset3atau liabilitas yang bukan berdasarkan data pasar yang dapat diobservasi (input yang tidak dapat diobservasi).

11 7

Jenis dan Tingkat Risiko yang Timbul Pengungkapan Kualitatif Pengungkapan Kuantitatif Risiko kredit Aset keuangan yang melewati jatuh tempo atau mengalami penurunan nilai Agunan dan peningkatan kualitas kredit yang diperoleh Risiko likuiditas Risiko Pasar Analisis Sensitivitas Pengungkapan risiko pasar lainnya

JENIS DAN TINGKAT RISIKO YANG TIMBUL DARI INSTRUMEN KEUANGAN

Secara tegas mensyaratkan entitas untuk mengungkapkan informasi yang memungkinkan para pengguna laporan keuangan untuk mengevaluasi jenis dan tingkat risiko yang timbul dari instrumen keuangan.

119

Pengungkapan Kualitatif Eksposur dan timbulnya risiko

Tujuan, kebijakan dan proses pengelolaan risiko serta metode untuk mengukur Perubahan atas kedua hal diatas

120

Pengungkapan Kualitatif

Pengungkapan Risiko Kredit yang belum disyaratkan sebelumnya: Jumlah dan analisa umur aset keuangan yang jatuh tempo tetapi tidak mengalami penurunan nilai Jumlah dan analisa dan faktor penurunan nilai Uraian agunan dan peningkatan perikatan kredit

121

12 2

CONTOH PENGUNGKAPAN TERKAIT AGUNAN

12 3

Pengungkapan Kualitatif Pengungkapan Risiko Kredit yang belum disyaratkan sebelumnya: 1)

Analisa jatuh tempo untuk non‐ derivatif liabilitas keuangan

2)

Analisa jatuh tempo untuk derivatif liabilitas keuangan

3)

Uraian pengelolaan risiko likuiditas yang melekat pada point (1) dan (2)

124

12 5

CONTOH

12 6

Pengungkapan Kualitatif Pengungkapan Analisa Sensitivitas yang belum disyaratkan sebelumnya untuk setiap jenis risiko pasar, yang menunjukkan bagaimana laba rugi dan ekuitas terpengaruh oleh perubahan pada variabel risiko yang relevan Asumsi dan metode yang digunakan dalam analisa sensitivitas Perubahan dari asumsi dan metode yang digunakan sebelumnya, dan alasan perubahannya.

127

12 8

Ilustrasi – Kebijakan Manajemen Risiko Risiko keuangan Risiko usaha  kendali pemerintah, patungan, kontraktor, cadangan, penetapan harga oleh pemerintah Risiko keuangan  Risiko pasar  risiko nilai tukar mata uang asing, harga komoditi – analisis sensitivitas Risiko kredit  umur piutang, informasi penurunan nilai, rating utang yang dimiliki Risiko likuiditas

Manajemen Modal Kebijakan dewan direksi adalah untuk mempertahankan basis modal yang kuat untuk menjaga keyakinan investor, kreditur dan pasar, dan untuk mempertahankan perkembangan bisnis di masa yang akan datang.

Nilai wajar Sumber : LK Pertamina 2012

129

Ilustrasi – Pengungkapan Nilai wajar Nilai wajar adalah suatu jumlah dimana suatu aset dapat dipertukarkan atau suatu liabilitas diselesaikan antara pihak yang memahami dan berkeinginan untuk melakukan transaksi wajar. Perbedaan pada setiap tingkatan metode penilaian dijelaskan sebagai berikut: Harga dikutip (tidak disesuaikan) dari pasar yang aktif untuk aset atau liabilitas yang identik (Tingkat 1); Input selain harga yang dikutip dari pasar yang disertakan pada Tingkat 1 yang dapat diobservasi untuk aset dan liabilitas, baik secara langsung (yaitu sebagai sebuah harga) atau secara tidak langsung (yaitu sebagai turunan dari harga) (Tingkat 2); Input untuk aset atau liabilitas yang tidak didasarkan pada data pasar yang dapat diobservasi (informasi yang tidak dapat diobservasi) (Tingkat 3).

Sumber : LK Pertamina 2012

130

IFRS 9 : NEW STANDARD ON FINANCIAL INSTRUMENT

13

A comparison of IAS 39, IFRS 9 and IFRS 9R

IAS 39

IFRS 9

IFRS 9 R

Financial asset - Debt

•  FVTPL •  AFS •  L&R •  HTM

•  FVTPL •  Amortised cost

•  FVTPL •  Amortised cost •  FVOCI

Financial asset - Equity

•  FVTPL •  AFS

•  FVTPL •  FVOCI

•  FVTPL •  FVOCI

Financial liability




8

Overview of three categories Is objective of the entity’s business model to hold the financial assets to collect contractual cash flows? Yes

No

Is objective of the entity’s business model to collect contractual cash flows and for sale? Yes

Do contractual cash flows represent solely payments of principal and interest? Yes

Amortised cost

No

Yes Yes

Does the company apply the fair value option to eliminate an accounting mismatch? No

No

Fair value through P&L

No

FV-OCI 9

Business model test Business model assessment on debt instruments IFRS 9 – Improvements* To hold

Credit portfolios or investment portfolios

Analyse indiviual contractual cashflow characteristics (CCC) of instrument

To hold and to sell

Trading portfolios

Liquidity and run-off portfolios

Residual category

Analyse indiviual contractual cashflow characteristics (CCC) of instrument

no

no yes

yes

Measured at cost

To sell

yes

Measured at fair value

Key question is where these lines are drawn.

Key question is where these lines are drawn.

Measured at fair value through OCI

11

IFRS 9 New impairment model - Moving from incurred loss to expected loss On initial recognition (Bucket 1)

Interest revenue calculated on gross carrying amount Reserve full lifetime expected losses associated with the probability of a loss in the 12 months after the reporting date.

Financial assets that were originated into investment grade and have deteriorated below investment grade since origination OR that were originated below investment grade and suffered a significant deterioration in credit quality since origination. (Bucket 2/3) Interest revenue calculated on gross carrying amount Lifetime expected loss allowance

If deteriorated to credit-impaired* (subset of Bucket 2/3) * there is objective evidence of the criteria in paragraphs 59(a)-(e) of IAS 39

Interest revenue calculated on the net carrying amount Lifetime expected loss allowance 31

Three-bucket approach

Different model for different portfolios •  Non credit-impaired on initial recognition

•  Credit-impaired on initial recognition •  Loan commitments and guarantees •  Trade receivables, lease receivables and modified assets

32

Some of the proposed changes under the new hedging rules Topic

IFRS 9 – Proposed changes

IAS 39

•  No more threshold, hedge must be “unbiased” •  Qualitative and/or quantitative assessment based on management’s risk strategy

Effectiveness testing

80-125%

Hedging risk components of nonfinancial hedged items

Prohibited, Permitted as long as risk component is except FX risk •  separately identifiable and •  reliably measureable

Derivatives as hedged items

Prohibited

Permitted

Hedging of net position of forecast transactions

Prohibited

Cash flow hedges of net positions are only be available for hedges of foreign currency risk as long as the items within the net position are specified in such a way that the pattern of how they will affect the income statement is set out as part of the initial hedge designation.

Basis adjustment

Choice

Mandatory

39

Some of the proposed changes under the new hedging rules Topic

IFRS 9 – Proposed changes

IAS 39

Hedging a ‘layer’ of an Prohibited entire item

Permitted

Accounting for time value of options

Prohibited

Based on the nature of the hedged item: •  ‘transaction related’: to be recognised in OCI with reclassification to P/L •  ‘time period related’: to be recognised in OCI and amortised

Fair value hedging

Changes in FV •  IAS 39 mechanics retained to P&L, •  Require single note about cash flow and fair value hedges adjustment to •  Disclosure of fair value hedge adjustment hedged item

40

TERIMA KASIH

AKUNTANSI INSTRUMEN KEUANGAN PSAK 50, 55 DAN 60

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