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Akuntansi keuangan hutang obligasi

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  • 1. Bonds Payable (Hutang Obligasi)Prepared by Adi Rizfal Efriadi, M.Si., AkDosen Tetap STIE Ahmad Dahlan Jakarta Accounting, 21st Edition Warren Reeve Fess
  • 2. Two Methods of Long-Term Financing Resources = Sources Liabilities Debt Financing: Bondholders Assets Stockholders’ Equity Equity Financing: Stockholders
  • 3. Two Methods of Long-Term Financing Bondholders Stockholders Why issue bonds rather than stock?Bonds (debt)—Beban bunga akan mengurangi laba kena pajak.Stock (equity)—Dividen dibayarkan dari laba setelah pajak dan retained earnings (laba ditahan)Earnings per share on common stock meningkat bila mengeluarkan bonds dibanding menambah stock.
  • 4. Alternative Financing Plans – $800,000 Earnings Plan 1 Plan 2 Plan 312 % bonds — — $2,000,000Preferred 9% stock, $50 par — $2,000,000 1,000,000Common stock, $10 par $4,000,000 2,000,000 1,000,000Total $4,000,000 $4,000,000$4,000,000Earnings before interest and income tax $ 800,000 $ 800,000 $ 800,000Deduct interest on bonds — — 240,000 Income before income tax $ 800,000 $ 800,000 $ 560,000Deduct income tax 320,000 320,000 224,000 Net income $ 480,000 $ 480,000 $ 336,000Dividends on preferred stock — 180,000 90,000Available for dividends $ 480,000 $ 300,000 $ 246,000Shares of common stock ÷400,000 ÷200,000 ÷100,000 Earnings per share $ 1.20 $ 1.50 $ 2.46
  • 5. Characteristics of Bonds Payable  A bond contract is called a bond indenture or trust indenture.  Long-term debt—repayable 10, 20, or 30 years after date of issuance.  Issued in face (principal) amounts of $1,000, or multiples of $1,000.  Contract interest rate is fixed for term (life) of the bond.  Face amount of bond repayable at maturity date.
  • 6. Characteristics of Bonds Payable Semua obligasi yg jatuh tempo satu tanggal disebut term bonds. Apabila jatuh tempo berseri disebut serial bonds (obligasi berseri) Obligasi yg ditukar dengan surat berharga lain (securities) disebut convertible bonds. Obligasi dapat ditebus kembali sebelum jth tempo : callable bonds. Obligasi/Bonds sebagai kredit perusahaan yg bersifat umum disebut debenture bonds.
  • 7. The Present-Value Concept and Bonds PayableHarga obligasi yang ditawarkan tergantungbeberapa faktor:1. The face amount of the bonds (N.Nominal), jumlah yg dibayarkan saat jatuh tempo2. Tanggal bunga obligasi = the contract rate or the coupon rate.3. Bunga Efektif = The market or effective rate of interest.
  • 8. HARGA OBLIGASIAdalah nilai tunai (present value) dari bunga yg dibayarselama jangka waktu obligasi ditambah nilai nominalnya.Faktor bunga untuk menilai tunaikan jumlah bunga +jumlah nominal = suku bunga efektifRumus nilai obligasi tahun 0 SBN x NN + SBN x NN ….. SBN x NN + NN (1+SBE)¹ (1+SBE)² (1+SBE)n Atau 1- 1 (1+SBE)n (SBN x NN) ( ) +NN x ( 1 ) SBE (1+SBE)n
  • 9. The Present-Value Concept andBonds Payable MARKET RATE = CONTRACT RATE Sell price of bond = $1,000 $1,000 10% payable annually
  • 10. The Present-Value Concept andBonds Payable MARKET RATE > CONTRACT RATE Sell price of bond < $1,000 $1,000 10% payable – Discount/ annually Disagio
  • 11. The Present-Value Concept andBonds Payable MARKET < CONTRACT RATE Sell price of bond > $1,000 $1,000 10% payable + annually Premium/ Agio
  • 12. A $1,000, 10% bond is purchased. It paysinterest annually and will mature in two years. $100 $100 $1,000 Interest Interest 10% payment payment payable annually Today End of End of Year 1 Year 2 $90.91 $100 x 0.90909 $82.65 $100 x 0.82645 $1,000 x 0.82645 $826.45$1,000.00 (rounded)
  • 13. Accounting for Bonds Payable PENJUALAN OBLIGASIMisal: PT KOKO pada 1 Jan 2004 diberiwewenang RUPS mengeluarkan 1000 lbr obligasi12% nilai nominal Rp.10.000/lbr. Bunga dibayar1 Jan & 1 Juli umur 5 tahun. Pada saatpemberian wewenang pengeluaran obligasi No entry.Jurnal dilakukan saat terjadi transaksi penjualan
  • 14. Bonds Issued at Face Amount1 Jan 2004Kas 10.000.000 Hutang Obligasi 10.000.0001 Juli 2004Biaya bunga 600.000 Kas 600.00031 Des 2004 AJE:Biaya bunga 600.000 Hutang bunga 600.000
  • 15. Penjualan diluar tgl bunga 1 Mei 2004 Pendekatan Laba rugi Kas 10.400.000 Hutang Obligasi 10.000.000 Biaya bunga 400.000 1 Juli 2004 Biaya bunga 600.000 Kas 600.000
  • 16. Pendekatan Neraca1 Mei 2004Kas 10.400.000 Hutang obligasi 10.000.000 Hutang bunga/biaya 400.0001 Juli 2004Hutang bunga/biaya 400.000Biaya bunga 200.000 Kas 600.000
  • 17. Bonds Issued at a Premium Misal: 1 Jan 2004 dijual dgn harga Rp. 11.000.000 1 Jan’04 Kas11.000.000 Hutang obligasi 10.000.000 Agio hutang obl 1.000.000 Agio hutang obligasi merupakan rekening penambah (adjunct account) hutang obligasi & dapat dipandang sbg pengurang beban bunga yg dilakukan dgn cara amortisasi agio tsb selama umur obligasi
  • 18. Amortisasi dilakukan pada akhir periode(AJE). & ada 2 metode:  Metode garis lurus  Metode bunga efektifMisal: Agio hutang obligasi Rp. 1000.000,umur 5 th, metode garis lurus. Amortisasisetiap tahun: Rp.1000.000 : 5 = Rp. 200.000Jurnal: 31/12Agio hutang obligasi 200.000 Biaya bunga 200.000
  • 19. Bonds Issued at a Discount1 Jan’04 dijual dgn harga Rp. 9500.000Jurnal: Kas 9500.000 Disagio hut obl 500.000 Hutang Obligasi 10.000.000Disagio dipandang sbg penambah beban bunga:Bunga 5 th:12%x5x10.000.000 = Rp. 6000.000Disagio hutang obligasi = Rp. 500.000Bunga efektif beban PT KOKO = Rp. 6500.000
  • 20. Amortisasi tiap th : Rp.500.000: 5=Rp.100.000Jurnal: 31 DesBiaya bunga Rp.100.000 Disagio hutang 0bligasi Rp.100.000
  • 21. Penyajian di NERACANilai Nominal + Agio belum amortisasi atauNilai Nominal – Disagio belum amortisasi Neraca Per 31 Des Hutang jangka panjang: Hutang obligasi Rp. 10.000.000 Disagio hut obligasi Rp. 400.000 Nilai buku Rp. 9.600.000
  • 22. MENARIK OBLIGASI SEBELUMJATUH TEMPO (BOND REDEMPTION)Diperlukan jurnal: Menghapus nilai buku obligasi per tanggal penarikan Mencatat jumlah kas yg dibayar Mengakui kerugian/keuntungan penarikan dari selisih nilai buku dgn kurs penarikanMisal: awal tahun 2007 PT KOKO menarikobligasi dgn nilai Rp. 10.100.000
  • 23. Nilai buku tahun 2007Th 2004 = 100.000Th 2005 = 100.000Th 2006 = 100.000Jumlah amortisasi = 300.000N.buku= 10.000.000 - 200.000 = 9.800.000Dilunasi =10.100.000Kerugian penarikan = 300.000
  • 24. Jurnal: 1Jan’07 Hutang obligasi 10.000.000 Kerugian penarikan 300.000 Kas 10.100.000 Disagio hut obligasi 200.000 Bi. Bunga 600.000 Kas 600.000