chapter 21 accounting for leases l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Chapter 21: Accounting for Leases PowerPoint Presentation
Download Presentation
Chapter 21: Accounting for Leases

Loading in 2 Seconds...

play fullscreen
1 / 27

Chapter 21: Accounting for Leases - PowerPoint PPT Presentation


  • 276 Views
  • Uploaded on

Intermediate Accounting, 11th ed. Kieso, Weygandt, and Warfield. Chapter 21: Accounting for Leases. Chapter 21: Accounting for Leases. Menjelaskan Sifat, substansi ekonomi, dan keunggulan transaksi lease. Menjelaskan kriteria akuntansi dan prosedur utk mengkapitalisasi lease oleh lessee.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Chapter 21: Accounting for Leases' - dareh


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2

Chapter 21: Accounting for Leases

  • Menjelaskan Sifat, substansi ekonomi, dan keunggulan transaksi lease.
  • Menjelaskan kriteria akuntansi dan prosedur utk mengkapitalisasi lease oleh lessee.
  • Membedakan metode operasi dan kapitalisasi dalam pencatatan lease.
  • Mengidentifikasi klasifikasi lease untuk lessor.

After studying this chapter, you should be able to:

slide3

Chapter 21: Accounting for Leases

  • Menjelaskan akuntansi lessor untuk lease pembiayaan langsung.
  • Mengidentifikasi fitur khusus dari kesepakatan lease yg menyebabkan masalah akuntansi ygunik.
  • Menjelaskan dampak dari nilai residu, yg dijamin dan tdk dijamin, terhadap akuntansi lease.
  • Menjelaskan akuntansi lessor utk lease jenis penjualan.
  • Menjelaskan persyaratan pengungkapan untuk lease.
slide4

Leasing: Basics

  • The lease is a contractual agreement between the lessor and the lessee.
  • The lease gives the lessee the right to use specific property.
  • Durasi –jgk waktu lease dpt bervariasi dari periode waktu yg pendek hingga seluruh umur manfaat dari aktiva ybs.
  • Kewajiban utk pjk, asuransi, dan biaya pemeliharaan dpt dibebankan baik pada lessor maupun lessee.
slide5

Advantages of Leasing

  • Pembiayaan 100% dengan suku bunga tetap.
  • Proteksi terhadap keusangan.
  • Fleksibilitas.
  • Pembiayaan lebih murah.
  • Masalah pajak minimum alternatif (Alternative Minimum Tax Problems)
  • Pembiayaan diluar neraca (Off- Balance- Sheet Financing).
slide6

Conceptual Nature of a Lease

According to the FASB:

  • Jangan Mengkapitalisasi Setiap aktiva yang di lease.
  • Mengkapitalisasi Lease Serupa dengan pembelian cicilan.
  • Mengkapitalisasi semua Lease jangka panjang.
  • Mengkapitalisasi Lease perusahaan dimana penalty atas pelanggaran perjanjian berjumlah substansial.
slide7

Accounting by Lessee

Kriteria Kapitalisasi untuk Lessee:

  • Lease mentransfer kepemilikan properti kepada lessee.
  • Lessee memiliki opsi utk membeli dg harga khusus (bargain purchase options)
  • Jangka waktu lease sama dg atau lebih 75% dari estimasi umur ekonomis aktiva yang dilease.
  • Nilai sekarang dari pembayaran lease minimum (tdk termasuk bi executory) sama dg atau melebihi 90% dari nilai wajar property yg di lease.
slide8

Is there transfer

of ownership?

Yes

Yes

No

Is there a bargain

purchase option?

Yes

Yes

No

Is lease term equal

to or greater than

75% of economic

life ?

Is present value

of payments

equal to or more

than 90% FMV?

No

Accounting by Lessee

Lease Agreement

Capital

Lease

Operating

Lease

slide9

The Bargain Purchase Option

A bargain purchase option

  • Mengizinkan lessee utk membeli properti yang dilease.
  • Pada harga yg secara signifikan lebih rendah dibandingkan dg nilai wajar properti yg diharapkan pd tgl opsi tsb. Digunakan.

Pada awal lease, perbedaan antara hrg opsi dg nilai pasar wajar yg diharapkan hrs cukup besar shg realisasi dari opsi bisa dipastikan scr layak.

slide10

The Recovery of Investment Test (90% Test)

Dlm menetukan nilai sekarang dr pembayaran lease minimum, ada tiga konsep yg hrs dipertimbangkan:

  • Pembayaran lease minimum (pembyrn sewa min, ni residu yg dijamin, penalti atas kegagalan memperbaharui ataumemperpanjang lease, opsi utk membeli dg hrg khusus).
  • Executory costs (insurance, taxes, and maintenance), and
  • Discount rate (Lessee menghitung PV dr pembyrn lease min dg menggunakan suku bunga pinjaman inkremental lessee).
slide11

Minimum Lease Payments

The minimum lease payments include:

  • Pembyrn Sewa Min – pembyrn yg hrs dilakukan oleh lessee kpd lessor berdsrkan kesepakatan lease.
  • Nilai Residu yg dijamin

a. Jml tertentu dmn lessor memiliki hak utk meminta lessee membeli aktiva

b. Jml yg dijanjikan oleh penjamin lessee utk diperoleh lessor.

4) Penalti atas kegagalan memperbaharui atau memperpanjang lease.

5) bargain purchase option given to lessee

slide12

Discount Rate

  • The lessee computes the present value of the lease payments using the lessee’s incremental borrowing rate.
  • Jika lessee mengetahui bhwlessor’s implicit interest ratedan suku bunga implisit lebih rendah dr lessee’s incremental rate, then such implicit rate must be used.
  • The lessor’s implicit rate produces the following result:

present value of (minimum lease payments and unguaranteed residual value) = fair value of the asset to lessor

slide13

Accounting for Asset and Liability by Lessee

  • In a capital lease transaction, the lessee records an asset and a liability.
  • The asset is depreciated by the lessee over the economic life of the asset.
  • The effective interest method is used to allocate the rental payments between principal (pokok) and interest.
  • Penyusutan aktiva dan pengurangan kewajiban adalah dua proses akuntansi yg independen selama jgk waktu lease.
slide14

Classification of Leases: Lessor

Lessor classifies leases as one of the following:

  • Operating lease
  • Direct financing lease
  • Sales-type lease
slide15

Accounting by Lessor: Classification of Leases

To be classified as an operating lease:

  • The lease doesn’t meet any group 1 criteria (same as lessee’s), OR
  • Collectibility of payments isn’t reasonably assured, OR
  • Lessor’s performance isn’t substantially complete.
slide16

Accounting by Lessor: Classification of Leases

To be classified as a direct financing lease the lease must meet group 1 criteria (same as lessee’s), and the following, group 2 criteria:

  • Collectibility of payments must be reasonably assured, and
  • Lessor’s performance must be substantially complete, and
  • Asset’s fair value must be equal to lessor’s book value
slide17

Does lease meet

Group 1 criteria?

No

No

yes

Is collectibility of

payments assured?

No

Sales type

yes

Is lessor’s

performance

substantially

complete ?

No

Does asset FMV

equal lessor’s

book value?

yes

yes

Lessor’s Criteria for Lease Classification

Lease Agreement

Operating

Lease

Direct

financing

slide18

Operating Lease: Lessor

  • The lessor depreciates the leased asset according to its depreciation policy.
  • Maintenance costs of the leased asset (payable by lessor) are charged to expense.
  • Costs, such as finder’s fees and credit checks, are amortized over the lease term.
  • The leased equipment and accumulated depreciation are shown as Equipment Leased to Others.
slide19

Direct Financing: Lessor

The following information is needed by lessor to record a direct financing lease:

Gross investment (lease payments receivable), consisting of:

the minimum lease payments and any unguaranteed residual value at the end of lease term

Unearned interest revenue (difference between gross investment and the FMV of the property)

Net investment (gross investment less unearned interest revenue)

slide21

Special Accounting Problems

  • Residual values
  • Sales-type leases (lessor)
  • Bargain purchase options
  • Initial direct costs
  • Current versus noncurrent
  • Disclosure
slide22

Residual Values

  • Residual value is the estimated fair value of asset at the end of lease term
  • May either be guaranteed or unguaranteed
  • From lessor’s perspective once the lease rate is determined, it makes no difference whether the residual value is guaranteed or unguaranteed.
  • From lessee’s perspective:
    • Guaranteed residual affects minimum lease payment calculation
    • Unguaranteed residual does not
slide24

Initial Direct Costs

Two types:

  • Incremental directs costs paid to third parties at origination of lease
  • Internal direct costs paid by lessor at origination of lease.
slide25

Disclosure Requirements: Lessee

For the lessee, the requirements for capital leases are:

  • gross amount of assets
  • future minimum lease payments
  • total non-cancelable minimum sublease rentals
  • total contingent rentals
  • identify assets separately
  • general description of lessee’s arrangements
slide26

Disclosure Requirements: Lessor

For the lessor, the requirements for sales-type and direct-financing leases are:

  • components of net investment
  • future minimum lease payments
  • amount of unearned revenue included in revenue
  • total contingent rentals
  • general description of lessor’s leasing arrangements
slide27

Disclosure Requirements: Lessor

For the lessor, the requirements for operating leases:

  • cost and carrying amount
  • minimum future rentals
  • total contingent rentals
  • general description of lessor’s leasing arrangements