Piutang wesel

 Didukung oleh sebuah promissory note .
 Sebuah instrumen yang dapat dinegosiasikan
 Dibuat untuk kepentingan penerima wesel
 Wesel berbunga (interest bearing note) : Memiliki
suatu tingkat bunga yang ditetapkan atau
 Wesel tidak berbunga zero interest bearing note)
: memasukkan bunga sebagai bagian dari nilai
piutang dan tidak dinyatakan secara eksplisit

 Biasanya timbul dari :
 Konsumen yang membutuhkan perpanjangan
periode pembayaran dari hutang yang telah ada
 Konsumen yang memiliki resiko tinggi atau
konsumen baru
 Pinjaman untukkaryawan dan anak perusahaan
 Penjualan properti, pabrik dan peralatan
 Pada umumnya berasal dari transaksi pinjaman

Piutang jangka pendek
dicatat pada nilai nominal
dikurangi penyisihan
Piutang wesel jangka
panjang : dicatat pada
nilai sekarang dari kas
yang diperkirakan dapat
ditagih
Tingkat bunga Dijual pada
Bunga wesel = bunga pasar Nilai nominal
Bunga wesel > bunga pasar Premi
Bunga wesel < bunga pasar Diskonto

 Misal Bigelow Corp meminjamkan $10.000
kepada Scandinavian import dan menerima
wesel berbunga dengan jangka waktu 3 tahun
senilai $10.000, dengan suku bunga tahunan
10%. Suku bunga pasar 10%. Bagaimana wesel
tersebut dicatat?
 Perhitungan
 Nilai pasar wesel = PV nilai pokok + PV bunga
 Premi/diskonto = NN wesel – PV wesel

Illustration: Bigelow Corp. lends Scandinavian Imports $10,000
in exchange for a $10,000, three-year note bearing interest at 10
percent annually. The market rate of interest for a note of similar
risk is also 10 percent. How does Bigelow record the receipt of
the note?
LO 6 Explain accounting issues related to recognition of notes receivable.
0 1 2 3
$1,000 $1,000 Interest$1,000
$10,000 Principal
4
i = 10%
n = 3

$1,000 x 2.48685 = $2,487
Interest Received Factor Present Value
PV of Interest

$10,000 x .75132 = $7,513
Principal Factor Present Value
PV of Principal

Summary Present value of interest $ 2,487
Present value of principal 7,513
Note current market value $10,000
Date Account Title Debit Credit
Jan. yr. 1
Dec. yr. 1
Notes receivable 10,000
Cash 10,000
Cash 1,000
Interest revenue 1,000

 Wesel berbunga nol
 PV wesel = kas yang dibayarkan kepada penerbit
wesel
 Implisit interest rate : suku bunga yang akan
menyamakan kas yang dibayarkan dengan jumlah
piutang di masa depan.
 Wesel dicatat pada PV (nilai tunai saat ini) dan
mengamortisasi diskonto pada pendapatan bunga
selama umur wesel
 Misal Jeremiah Company menerima wesel jangka
waktu 3 tahun senilai $10.000, berbunga nol. Suku
bunga pasar 9%. Bagaimana wesel tersebut dicatat?

Illustration: Jeremiah Company receives a three-year, $10,000
zero-interest-bearing note. The market rate of interest for a
note of similar risk is 9 percent. How does Jeremiah record the
receipt of the note?
0 1 3 3
$0 $0 Interest$0
$10,000 Principal
4
i = 9%
n = 3

$10,000 x .77218 = $7,721.80
PV of Principal

Illustration 7-14

Journal Entries for Zero-Interest-Bearing note
Present value of Principal $7,721.80
Jan. yr. 1 Notes receivable 7,721.80
Cash 7,721.80
Dec. yr. 1 Notes receivable 694.96
Interest revenue 694.96
($7,721.80 x 9%)

 Wesel berbunga
 Bila suku bunga wesel berbeda dengan suku
bunga pasar
 Misal : Morgan Corp memberikan pinjaman
kepada Marie Company dan menerima wesel
$10.000, jangka waktu 3 tahun, bunga pertahun
10%. Suku bunga pasar 12%. Bagaimana wesel
tersebut dicatat?

Illustration: Morgan Corp. makes a loan to Marie Co. and
receives in exchange a three-year, $10,000 note bearing interest
at 10 percent annually. The market rate of interest for a note of
similar risk is 12 percent. How does Morgan record the receipt of
the note?
0 1 2 3
$1,000 $1,000 Interest$1,000
$10,000 Principal
4
i = 12%
n = 3

$1,000 x 2.40183 = $2,402
Interest Received Factor Present Value
PV of Interest

$10,000 x .71178 = $7,118
PV of Principal

Illustration: How does Morgan record the receipt of the note?
Illustration 7-13
Notes Receivable 9,520
Cash 9,520

Illustration 7-14

Journal Entries for Interest-Bearing Note
Beg. yr. 1 Notes receivable 9,520
Cash 9,520
End. yr. 1
($9,520 x 12%)
Cash 1,000
Notes receivable 142
Interest revenue 1,142

 Jika wesel diterima sebagai pertukaran
properti, barang dan jasa dalam transaksi
yang wajar, suku bunga ditetapkan cukup
wajar kecuali :
 Tidak ada suku bunga yang ditetapkan
 Suku bunga yang ditetapkan tidak masuk akal
 Jumlah nilai nominal wesel berbeda secara
material dengan harga jual tunai saat ini

Illustration: Oasis Development Co. sold a corner lot to Rusty
Pelican as a restaurant site. Oasis accepted in exchange a five-year
note having a maturity value of £35,247 and no stated interest rate.
The land originally cost Oasis £14,000. At the date of sale the land
had a fair market value of £20,000. Oasis uses the fair market value
of the land, £20,000, as the present value of the note. Oasis therefore
records the sale as:
Land 14,000
Gain on Sale of Land 6,000
(£35,247 - £20,000) = £15,247

 Penilaian Piutang wesel jangka pendek =
penilaian piutang usaha
 Piutang wesel jangka panjang : pengujian
impairmen seringkali dilakukan berdasarkan
penilaian individual.Kerugian impairmen
diukur sebagai selisih antara carrying amount
wesel dengan PV wesel

LO 7 Explain accounting issues related to valuation of notes receivable.
Illustration: Tesco Inc. has a note receivable with a carrying amount
of $200,000. The debtor, Morganese Company, has indicated that it is
experiencing financial difficulty. Tesco decides that Morganese‟s note
receivable is therefore impaired. Tesco computes the present value of
the future cash flows discounted at its original effective-interest rate to
be $175,000. The computation of the loss on impairment is as follows.

LO 7 Explain accounting issues related to valuation of notes receivable.
The entry to record the impairment loss is as follows.
The computation of the loss on impairment is as follows.
Bad Debt Expense 25,000
Allowance for Doubtful Accounts 25,000

 Perusahaan menilai piutang mereka untuk
melakukan impairment setiap periode
 Contoh loss event :
1. Masalah keuangan konsumen yang signifikan
2. Pelunasan piutang yang bermasalah
3. Konsumen menegosiasi ulang jatuh tempo
hutangnya terkait dengan kesulitan keuangan
konsumen

 Impairment loss adalah selisih dari :
1. Carrying amount (nilai pokok + bunga akrual)
dengan
2. Nilai kas masa depan yang didiskontokan dengan
tingkat bunga pinjaman historis efektif (the
loan’s historical effective-interest rate)
 Dalam mengestimasi arus kas, kreditor harus
menggunakan asumsi dan proyeksi yang masuk
akal

LO 11 Describe the accounting for a loan impairment.
Illustration: At December 31, 2010, Ogden Bank recorded an
investment of $100,000 in a loan to Carl King. The loan has an
historical effective-interest rate of 10 percent, the principal is due in full
at maturity in three years, and interest is due annually. The loan officer
performs a review of the loan‟s expected future cash flow and utilizes
the present value method for measuring the required impairment loss.
Illustration 7B-1

Illustration: Computation of Impairment Loss
Illustration 7B-2
Recording Impairment Losses

Recovery of Impairment Loss
Illustration: Assume that in the year following the impairment
recorded by Ogden, Carl King has worked his way out of financial
difficulty. Ogden now expects to receive all payments on the loan
according to the original loan terms. Based on this new information,
the present value of the expected payments is $100,000. Thus,
Ogden makes the following entry to reverse the previously recorded
impairment.

LO 8 Understand special topics related to receivables.
Opsi fair value
Perusahaan dapat melakukan fair value untuk aset dan kewajiban
finansial termasuk piutang [6]
IASB meyakini bahwa pengukuran fair value untuk instrumen
keuangan memberikan informasi yang lebih relevan dan lebih dapat
dipahami daripada biaya historis karena instrumen keuangan
menunjukkan nilai yang ekuivalen dengan kas saat ini
[6] International Accounting Standard 39, Financial Instruments: Recognition and Measurement
(London, U.K.: International Accounting Standards Committee Foundation, 2003), paras. IN16 and 9.

Fair Value Measurement
► Piutang (Receivables) dicatat dengan fair value.
► Unrealized holding gains or losses dicatat sebagai bagian
dari laba bersih
► Jika sebuah perusahaan memilih untuk menggunakan fair value
untuk melaporkan sebuah akun piutang, maka perusahaan
harus menggunakannnya secara kontinyu untuk akun piutang
tersebut sampai dengan piutang tersebut dilunasi

Fair Value Measurement
► Receivables are recorded at fair value on the statement of
financial position.
► Unrealized holding gains or losses reported as part “Other
income and expense” on the income statement.
► If a company elects the fair value option, it must continue to
use fair value measurement for that receivable.
► If the company does not elect the fair value option at the date
of recognition, it may not use this option on that specific
receivable in subsequent periods.

Illustration (Recording Fair Value Option): Assume that Escobar
Company has notes receivable that have a fair value of $810,000
and a carrying amount of $620,000. Escobar decides on December
31, 2011, to use the fair value option for these receivables. This is
the first valuation of these recently acquired receivables. At
December 31, 2011, Escobar makes an adjusting entry to record
the increase in value of Notes Receivable and to record the
unrealized holding gain, as follows.
Unrealized Holding Gain or Loss—Income 190,000

Perusahaan dapat mentransfer piutang kepada perusahaan lain
untuk ditukarkan dengan kas
Alasan:
Persaingan.
Keperluan kas yang tinggi.
Penagihan membutuhkan biaya dan waktu
Transfer accomplished by:
1. Secured borrowing (piutang dipakai sebagai jaminan)
2. Sale of receivables (penjualan piutang/anjak piutang)
Derecognition of Receivables

Secured Borrowing
Illustration: March 1, 2011, Howat Mills, Inc. provides (assigns)
$700,000 of its accounts receivable to Citizens Bank as collateral
for a $500,000 note. Howat Mills continues to collect the accounts
receivable; the account debtors are not notified of the arrangement.
Citizens Bank assesses a finance charge of 1 percent of the
accounts receivable and interest on the note of 12 percent. Howat
Mills makes monthly payments to the bank for all cash it collects on
the receivables.
Using receivables as collateral in a borrowing transaction.

Secured Borrowing - Illustration
LO 8Illustration 7-18

E7-14: On April 1, 2010, Prince Company assigns $500,000 of its
accounts receivable to the Hibernia Bank as collateral for a $300,000 loan
due July 1, 2010. The assignment agreement calls for Prince Company to
continue to collect the receivables. Hibernia Bank assesses a finance
charge of 2% of the accounts receivable, and interest on the loan is 10% (a
realistic rate of interest for a note of this type).
Instructions:
a) Prepare the April 1, 2010, journal entry for Prince Company.
b) Prepare the journal entry for Prince‟s collection of $350,000 of the
accounts receivable during the period from April 1, 2010, through
June 30, 2010.
c) On July 1, 2010, Prince paid Hibernia all that was due from the loan it
secured on April 1, 2010. Prepare the entry to record this payment.

E7-14 continued
(a) Cash 290,000
Finance Charge 10,000
Notes Payable 300,000
($500,000 x 2% = $10,000)
(b) Cash 350,000
Accounts Receivable 350,000
(c) Notes Payable 300,000
Interest Expense 7,500
Cash 307,500
(10% x $300,000 x 3/12 = $7,500)

Factors are finance companies or banks that buy receivables from
businesses for a fee.
Illustration 7-19

Sale without Guarantee
Pembeli menaggung resiko penagihan
Transfer sekaligus merupakan penjualan piutang.
Penjual mencatat “kerugian atas penjualan piutang” untuk
menampung penyesuaian yang mungkin terjadi
(diskon,retur, dsb)
Penjualan menggunakan akun „Seller use Due from Factor
(receivable) untuk mencatat hasil yang ditahan oleh faktor
untuk menutupi diskon penjualan, retur penjualan dan
pengurangan harga

Sale with Guarantee
Penjual menjamin pembeli atas resiko penagihan
Transfer piutang dipertimbangkan sebagai sebuah pinjaamn
- kadang diakui sebagai a failed sale.
Assume Crest Textiles sold the receivables on a with guarantee basis.
Illustration 7-21

Illustration: Crest Textiles, Inc. factors €500,000 of accounts
receivable with Commercial Factors, Inc., on a non-guarantee (or
without recourse) basis. Commercial Factors assesses a finance
charge of 3 percent of the amount of accounts receivable and retains
an amount equal to 5 percent of the accounts receivable (for probable
adjustments). Crest Textiles and Commercial Factors make the
following journal entries for the receivables transferred without
recourse.
Illustration 7-20

Piutang wesel

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Piutang wesel