Investment Pada Efek Hutang dan Ekuitas

1. Investment Pada Efek Hutang dan Ekuitas

2. Mengapa perusahaan berinvestasi pada perusahan lain Pelindung Keamanan Kebutuhan kas yg musiman Investasi untuk suatu imbal hasil Lanjuttt

3. Invetasi untuk mendapatkan pengaruh Pembelian untuk mendapatkan pengendalian

4. Definisi EFEK Menurut Undang-undang pasar modal psl 1 point 5 Efek adalah surat berharga, yaitu surat pengakuan hutang, surat berharga komersial, saham, obligasi, tanda bukti hutang, unit penyertaan, kontrak investasi kolektif, kontrak berjangka atas efek, dan setiap derifatif dari efek

5. Klasifikasi efek Investasi Efek HutangUmumnya memiliki karakteristik sebagai berkut: 1. Nilai jatuh temponya mewakili nilai yang harus dibayarkan pada pemegang efek hutang pd saat jatuh tempo. 2. Suatu tingkat bunga yg menetapkan pembayaran bunga secara periodik. 3. Tanggal jatuh tempo yg mengindikasikan kapan kewajiban akan diselesaikan

6. Klasifikasi efek investasi • Dan memiliki potensi untuk kenaikan secara signifikan atas harga efek tsb. Efek ekuitas Mewakili kepemilikan dalam suatu perusahaan. • Lembar-lembar saham ini biasanya mengandung hak untuk memperoleh deviden dan untuk memberikan suara dalam kegiatan perusahaan.

7. Klasifikasi efek investasi Efek dibeli dengan tujuan untuk dijual dalam waktu dekat Diper- dagang- kan Efek dibeli untuk tujuan ditahan hingga jatuh temponya Hingga jatuh tempo Tersedia u/ dijual Efek yg tidak dikategorikan diperdagangkan atau ditahan hingga jatuh tempo. Efek Hutang/ Ekuitas

8. Efek-efek dipasar Modal • Saham • Obligasi • Derivatif (warans, rights, option, futures contract) • Efek lain (unit penyertaan reksa dana dan efek beragun aset

9. Saham • Surat berharga sebagai bukti penyertaan atau pemilikan individu maupun institusi dalam suatu perusahaan

10. Beberapa istilah penting saham • Laba per saham, laba bersih setelah pajak dibagi dengan jumlah lembar saham yg telah disetor • Kapitalisasi, perkalian harga saham di bursa (market price) dg jumlah lembar saham yg disetor • Capital gain/loss, keuntungan/kerugian yg diperoleh investor dari selisih harga beli dan harga jual suatu saham

11. Nilai nominal, nilai yg tertera pd lembar saham yg besarnya ditentukan dalam anggaran dasar perusahaan • Nilai buku per saham, total nilai ekuitas dibagi total jumlah saham yg beredar • Nilai pasar, harga jual saham • Deviden, bagian keuntungan perusahaan yang dibagikan kepada pemegang saham • Price earning rasio, rasio harga pasar saham dengan laba per saham

12. Klasifikasi efek investasi Metode biaya Hutang ekuitas Ditahan hingga jth tempo Tersedia u/dijual diperdagangkan Metode ekuitas

13. Investasi dalam saham biasa • Metode yg digunakan tergantung dari pengaruh atau kontrol yg dilakukan oleh investor terhadap perusahaan yg ingin dikuasainya (investee) • Besarnya pengaruh ini merupakan faktor utama untuk menjelaskan apa yg investor dan investe tampilkan dalam laporan keuangan yg merupakan investasi dalam saham biasa, berdasarkan metode Cost (biaya) atau metode Equity (Ekuitas).

14. Investasi dalam saham biasa • Konsolidasi melibatkan penggabungan untuk pelaporan keuangan aktiva, kewajiban, pendapatan dan beban individual untuk dua atau lebih perusahaan yang berhubungan istimewa seakan-akan mereka adalah satu perusahaan.

15. Konsolidasi umumnya merupakan pengendalian oleh suatu perusahaan (induk perusahaan/parent) terhadap perusahaan lainnya (anak perusahaan/subsidiary)

16. Metode ekuitas digunakan untuk pelaporan eksternal jika investor mempunyai pengaruh signifikan dalam kebijakan operasi dan keuangan investee dan konsolidasi tidak sesuai. • Metode ekuitas tidak dapat digunakan sebagai pengganti konsolidasi jika konsolidasi sesuai. • Metode ekuitas digunakan utamanya untuk pelaporan investasi selain pada anak perusahaan, metode ini paling sering digunakan jika suatu perusahaan mempunyai kepemilikan 20 – 50 % pada saham perusahaan lain.

17. Metode biaya digunakan dalam pelaporan investasi dalam efek ekuitas yang tidak diperdagangkan jika konsolidasi dan metode ekuitas tidak sesuai untuk digunakan. • Untuk efek ekuitas yang diperdagangkan, jika konsolidasi dan metode tidak sesuai untuk digunakan, investasi biasanya dicatat menggunakan metode biaya dan disesuaikan dengan nilai pasar.

18. Kriteria untuk menentukan besarnya pengaruh suatu perusahaan Representation on the investee’s Board of Directors Participation in the investee’s policy-making process Material intercompany transactions. Interchange of managerial personnel. Technological dependency. Extent of ownership in relationship to other ownership percentages.

19. Ukuran signifikansi suatu investasi Kepemilikan Investor atas saham beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Dalam bbrp kasus pengaruh/pengendalian dapat terjadi dg kepemilikan kurang dari 20%.

20. Ukuran siknifikan suatu investasi Kepemilikan Investor atas saham beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Pengaruh siknifikan umumya diasumsikan berkisar antara 20% -50% kepemilikan.

21. Ukuran siknifikan suatu investasi Hak pemilikan Investor atas saham yg beredar Investee Nilai wajar (cost Method) Equity Method Consolidated Financial Statements { 0% 20% 50% 100% Laporan keuangan thd suatu perusahaan yg berhubungan harus di konsolidasi.

22. Cost Method/Metode biaya • ABC Company membeli 20 % saham biasa XYZ seharga $100,000 pd awal tahun tapi tidak berpengaruh signifikan atas XYZ. Investasi pd XYZ saham biasa $100,000 Kas $100,000

23. Cost Method • Selama periode berjalan, laba XYZ $50,000 digunakan untuk bayar deviden $20,000. Kas ($20,000 X .20) $4,000 Pendapatan deviden $4,000

24. Dilaporkan oleh Investee: Laba/rugi bersih Pengumuman deviden Pengaruh pada Investor: Mencatat pendapatan/kerugian dari investasi, meningkatkan/menurunkan akun investasi. Mencatat aktiva(kas/piutang), menurunkan akun investasi The Equity Method—Pengaruh signifikan (20 - 50 %)

25. The Equity Method—Equity Accrual • ABC Company menguasai signifikan XYZ Company dg membeli 20 % saham biasa XYZ Company laba pada tahun berjalan XYZ $60,000. Jurnal laba atas Investasi ABC di XYZ Investasi pd saham biasa ($60,000 X .2) $12,000 pendapatan dari Investee $12,000

26. Equity pengakuan Dividends • Jika XYZ mengumumkan pembayaran deviden $20,000 jurnal yg dibuat ABC Kas ($20,000 X .20) $4,000 Investasi pd saham Biasa XYZ $4,000

27. Efek metode ekuitas Efek ekuitas Tujuannya agar dapat mengendalikan atau mempengaruhi secara signifikan operasi dari perusahaan target .

28. Different Accounting Treatments Disclosure on the Balance Sheet Treatment of Temporary Changes in Value Classification of Securities Types of Securities Held to maturity Debt Amortized cost Not recognized Available for sale Debt/equity Fair market value Reported in stockholders’ equity Trading Debt/equity Fair market value Reported on the income statement Equity method Equity Historical cost Not recognized adjusted for changes in the assets of the investee

29. Purchases of Debt Securities On May 1, Douglas Company purchases $100,000 in U.S. Treasury notes at 104¼, including brokerage fees. Interest is 9% payable semiannually on January 1 and July 1. The debt securities are classified by the purchaser as trading securities. Accrued interest on May 1 is $3,000, calculated as follows: $100,000 x .09 x 4/12 = $3,000

30. Purchases of Debt Securities Asset Approach Purchase date: May 1 Investment in Trading Securities 104,250 Interest Receivable 3,000 Cash 107,250 Continued

31. Purchases of Debt Securities Revenue Approach Purchase date: May 1 Investment in Trading Securities 104,250 Interest Revenue 3,000 Cash 107,250 Continued

32. Purchases of Debt Securities Asset Approach July 1 Cash 4,500 Interest Receivable 3,000 Interest Revenue 1,500 Revenue Approach July 1 Cash 4,500 Interest Revenue 4,500 Receipt of semiannual payment:

33. Purchaseof Equity Securities Purchased 10,000 shares of Dave’s Deli common shares at $2 per share. Treated as available-for-sale because management has no intention of holding these securities for a a long period of time and will sell them as soon as it is economically advantageous

34. Purchaseof Equity Securities Available-for-Sale Investment in Available-for- Sale Securities—AB Company 2,000 Cash 2,000 Citty Co. purchased 1,000 shares of AB Company common shares at $2 per share.

35. Purchaseof Equity Securities Citty Co. purchased 100,000 shares of AB Company common shares at $2 per share. Assume that the 100,000 shares purchased represents 20 percent of the outstanding voting stock of AB Company. This investment gives the investor significant influence over AB Company.

36. Purchaseof Equity Securities Trading Securities Investment in Trading Securities— AB Company Common Stock 2,000 Cash 2,000 Purchased 100,000 shares of Dave’s Deli common shares at $2 per share.

37. PV of Debt Securities On January 1, 2004, Silmaril Technologies purchased 5-year, 10% bonds with a face value of $100,000 and interest payable semiannually on January 1 and July 1. The market rate on bonds of similar quality and maturity is 8%.

38. PV of Debt Securities Present value of principal: FV = $100,000; N = 10; I = 4% $ 67,556 Present value of interest payments: PMT = $5,000; N = 10; I = 4% 40,554 Total present value of the bonds $108,110 Investment in Trading Securities 108,100 Cash 108,100

39. Interest Revenue for Debt Securities (Trading) When the first interest payment is received from Silmaril, the following entry would be made: July 1 Cash 5,000 Interest Revenue 5,000

40. Interest Revenue for Debt Securities (Held-to-Maturity) $108,110 x .04 When the first interest payment is received from Silmaril, the following entry would be made: July 1 Cash 5,000 Interest Revenue 4,324 Investment in Held-to- Maturity Securities 676

41. Interest Revenue for Debt Securities (Held-to-Maturity) $107,434 x .04 When the second interest payment is received, the interest revenue is determined by the yield times the bond carrying value. Jan 1 Cash 5,000 Interest Revenue 4,297 Investment in Held-to- Maturity Securities 703

42. Determining the Appropriate Accounting Method Account for as trading or available-for-sale Equity method and consolidation procedures Equity method OwnershipPercentage No significant influence Significant influence Control 20% 50% 100% 0%

43. Determining the Appropriate Accounting Method In the absence of persuasive evidence to the contrary, equity securities are classified as trading or available for sale when ownership is less than 20 percent. Summary

44. Determining the Appropriate Accounting Method The equity method is used when ownership is such that the investor has the ability to significantly influence or control the investee’s operations. Summary

45. Determining the Appropriate Accounting Method Control or Degree of Influence Ownership Interest Accounting Method Applicable Standard More than 50% Control Equity method APB Opinion #18 and consolidation FASB Exposure procedures Draft 20% to 50% Significant Equity method APB Opinion #18 influence Less than 20% No Account for as FASB Statement significant trading or No. 115 influence available for sale

46. Revenue for Equity Securities Classified as Trading and AFS AB Company announces dividends of $0.25 per share. Assume that Citty Co. owns 1,000 shares Cash 250 Dividend Revenue 250

47. Revenue for Equity Securities Classified as Trading and AFS AB Company announces dividends of $0.25 per share. Assume that Citty Co. owns 100,000 which represents 50 percent of the outstanding voting stock. Cash 25,000 Investment in AB Company Stock 25,000

48. Revenue for Equity Securities Classified as Trading and AFS AB Company reports an income of $250,000 for the year. Again, assume that Citty Co. owns 50 percent of the outstanding voting stock. Investment in AB Company Stock 125,000 Income from Investment in AB Company Stock 125,000

49. Equity Method: Purchase For More than Book Value The net assets of Stewart Inc. was $500,000 at the time Phillips Manufacturing Co. purchased 40% of the common shares for $250,000 on January 1, 2005. The market value of the net assets of Stewart Inc. would be $625,000, which is $125,000 more than the book value. Only $50,000 of this is attributed to depreciable assets. $250,000 ÷ .40

50. Additional depreciation ($50,000 x 0.40)/10 $2,000 License amortization ($75,000 x 0.40)/20 1,500 $3,500 Equity Method: Purchase For More than Book Value The average remaining life of the depreciable assets is 10 years and the special operating license is to be amortized over 20 years.