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8/11/2019 Kieso Inter Ch10 IFRS
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10-1
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C H A P T E R 10
ACQUISITION AND DISPOSITION OF
PROPERTY, PLANT, AND EQUIPMENT
Intermediate AccountingIFRS Edition
Kieso, Weygandt, and Warfield
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1. Describe property, plant, and equipment.2. Identify the costs to include in initial valuation of property, plant,
and equipment.
3. Describe the accounting problems associated with self-constructed
assets.
4. Describe the accounting problems associated with interest
capitalization.
5. Understand accounting issues related to acquiring and valuing
plant assets.
6. Describe the accounting treatment for costs subsequent toacquisition.
7. Describe the accounting treatment for the disposal of property,
plant, and equipment.
Learning Objectives
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Acquisition
Acquisition costs:land, buildings,equipment
Self-constructedassets
Interest costs
Observations
ValuationCost Subsequent
to AcquisitionDispositions
Cash discounts
Deferred contracts
Lump-sumpurchases
Stock issuance
Non-monetaryexchanges
Governmentgrants
Sale
Involuntaryconversion
Additions
Improvements andreplacements
Rearrangementand reorganization
RepairsSummary
Acquisition and Disposition ofProperty, Plant, and Equipment
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10-5
► ―Used in operations‖ and not for
resale.
► Long-term in nature and usually
depreciated.
► Possess physical substance.
Property, plant, and equipment is defined as tangible assets
that are held for use in production or supply of goods and
services, for rentals to others, or for administrative purposes; they
are expected to be used during more than one period.
Property, Plant, and Equipment
LO 1 Describ e pro perty, plant, and equ ipm ent.
Includes:
Land,
Building structures
(offices, factories,
warehouses), and
Equipment
(machinery, furniture,
tools).
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10-6
Historical cost measures the cash or cash equivalent price of
obtaining the asset and bringing it to the location and condition
necessary for its intended use.
Companies value property, plant, and equipment insubsequent periods using either the
cost method or
fair value (revaluation) method.
Acquisition of PP&E
LO 2 Ident i fy the costs to includ e in in i t ia l valuat ion ofpro perty, plant, and equipm ent.
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Includes all costs to acquire land and ready it for use. Costs
typically include:
Cost of Land
Acquisition of PP&E
LO 2
(1) purchase price;
(2) closing costs, such as title to the land, attorney’s fees, and
recording fees;
(3) costs of grading, filling, draining, and clearing;
(4) assumption of any liens, mortgages, or encumbrances on
the property; and
(5) additional land improvements that have an indefinite life.
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Improvements with limited lives, such as private
driveways, walks, fences, and parking lots, are recorded
as Land Improvements and depreciated.► Land acquired and held for speculation is classified
as an investment.
► Land held by a real estate concern for resale shouldbe classified as inventory.
Acquisition of PP&E
LO 2 Ident i fy the costs to includ e in in i t ia l valuat ion ofpro perty, plant, and equipm ent.
Cost of Land
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Includes all costs related directly to acquisition or
construction. Cost typically include:
Cost of Buildings
LO 2 Ident i fy the costs to includ e in in i t ia l valuat ion ofpro perty, plant, and equipm ent.
(1) materials, labor, and overhead costs incurred during
construction and
(2) professional fees and building permits.
Acquisition of PP&E
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Include all costs incurred in acquiring the equipment and
preparing it for use. Costs typically include:
LO 2 Ident i fy the costs to includ e in in i t ia l valuat ion ofpro perty, plant, and equipm ent.
(1) purchase price,
(2) freight and handling charges
(3) insurance on the equipment while in transit,
(4) cost of special foundations if required,(5) assembling and installation costs, and
(6) costs of conducting trial runs.
Acquisition of PP&E
Cost of Equipment
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E10-1 (variation): The expenditures and receipts below are related to
land, land improvements, and buildings acquired for use in a businessenterprise. Determine how the following should be classified:
Acquisition of PP&E
(a) Money borrowed to pay building contractor
(b) Payment for construction from note proceeds
(c) Cost of land fill and clearing
(d) Delinquent real estate taxes on propertyassumed
(e) Premium on 6-month insurance policy duringconstruction
(f) Refund of 1-month insurance premium becauseconstruction completed early
Classification
Notes Payable
Building
Land
Land
Building
(Building)
LO 2 Ident i fy the costs to includ e in in i t ia l valuat ion ofpro perty, plant, and equipm ent.
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Classification
Acquisition of PP&E
(g) Architect’s fee on building
(h) Cost of real estate purchased as a plant site (land €200,000 and building €50,000)
(i) Commission fee paid to real estate agency
(j) Installation of fences around property
(k) Cost of razing and removing building(l) Proceeds from salvage of demolished building
(m) Cost of parking lots and driveways
(n) Cost of trees and shrubbery (permanent)
Building
LO 2
Land
Land
Land Improvements
Land(Land)
Land Improvements
Land
E10-1 (variation): The expenditures and receipts below are related to
land, land improvements, and buildings acquired for use in a businessenterprise. Determine how the following should be classified:
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Self-Constructed Assets
Acquisition of PP&E
Costs typically include:
(1) Materials and direct labor
(2) Overhead can be handled in two ways:
1. Assign no fixed overhead
2. Assign a portion of all overhead to the construction
process.
Companies use the second method extensively.
LO 3 Descr ibe the accoun t ing prob lems associated with sel f -con structed assets.
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Three approaches have been suggested to account for the
interest incurred in financing the construction.
Interest Costs During Construction
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Capitalize nointerest duringconstruction
Capitalize actualcosts incurred during
construction (withmodification)
Capitalizeall costs of
funds
IFRS
$ 0 $ ?Increase to Cost of Asset
Illustration 10-1
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IFRS requires — capitalizing actual interest (with
modification).
Consistent with historical cost.
Capitalization considers three items:
1. Qualifying assets.
2. Capitalization period.
3. Amount to capitalize.
Interest Costs During Construction
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
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Require a substantial period of time to get them ready for
their intended use.
Two types of assets:
► Assets under construction for a company’s own use.
► Assets intended for sale or lease that are constructed
or produced as discrete projects.
Qualifying Assets
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
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Capitalization Period
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Begins when:
1. Expenditures for the asset have been made.
2. Activities for readying the asset are in progress .
3. Interest costs are being incurred.
Ends when:The asset is substantially complete and ready for use.
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Amount to Capitalize
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Capitalize the lesser of:
1. Actual interest costs
2. Avoidable interest - the amount of interest that could
have been avoided if expenditures for the asset had
not been made.
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Interest Capitalization Illustration: Blue Corporation borrowed
$200,000 at 12% interest from State Bank on Jan. 1, 2011, for specificpurposes of constructing special-purpose equipment to be used in its
operations. Construction on the equipment began on Jan. 1, 2011,
and the following expenditures were made prior to the project’s
completion on Dec. 31, 2011:
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Actual Expenditures:
January 1, 2011 $100,000
April 30, 2011 150,000
November 1, 2011 300,000
December 31, 2011 100,000
Total expenditures $650,000
Other general debt existing
on Jan. 1, 2011:
$500,000, 14%, 10-year
bonds payable
$300,000, 10%, 5-year
note payable
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Step 1 - Determine which assets qualify for capitalizationof interest.
Special purpose equipment qualifies because it requires
a period of time to get ready and it will be used in the
company’s operations.
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Step 2 - Determine the capitalization period.
The capitalization period is from Jan. 1, 2011 through
Dec. 31, 2011, because expenditures are being madeand interest costs are being incurred during this period
while construction is taking place.
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Weighted
Average
Actual Capitalization Accumulated
Date Expenditures Period Expenditures
Jan. 1 100,000$ 12/12 100,000$
Apr. 30 150,000 8/12 100,000
Nov. 1 300,000 2/12 50,000
Dec. 31 100,000 0/12 -
650,000$ 250,000$
Step 3 - Compute weighted-average accumulatedexpenditures.
A company weights the construction expenditures by the amount of time(fraction of a year or accounting period) that it can incur interest cost on theexpenditure.
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Step 4 - Compute the Actual and Avoidable Interest.
Selecting Appropriate Interest Rate:
1. For the portion of weighted-average accumulated
expenditures that is less than or equal to any amounts
borrowed specifically to finance construction of the assets,
use the interest rate incurred on the specific borrowings.
2. For the portion of weighted-average accumulated
expenditures that is greater than any debt incurred specificallyto finance construction of the assets, use a weighted
average of interest rates incurred on all other outstanding
debt during the period.
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Accumulated Interest AvoidableExpenditures Rate Interest
200,000$ 12% 24,000$
50,000 12.5% 6,250
250,000$ 30,250$
Step 4 - Compute the Actual and Avoidable Interest.
Avoidable Interest
Interest Actual
Debt Rate Interest
Specific Debt 200,000$ 12% 24,000$
General Debt 500,000 14% 70,000
300,000 10% 30,000
1,000,000$ 124,000$
Weighted-averageinterest rate ongeneral debt
Actual Interest
$100,000
$800,000= 12.5%
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Step 5 –
Capitalize the lesser of Avoidable interest or Actual interest.
Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Avoidable interest 30,250$
Actual interest 124,000
Journal entry to Capitalize Interest:
Equipment 30,250
Interest expense 30,250
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Comprehensive Illustration: On November 1, 2010,
Shalla Company contracted Pfeifer Construction Co. to
construct a building for $1,400,000 on land costing $100,000
(purchased from the contractor and included in the first
payment). Shalla made the following payments to theconstruction company during 2011.
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Pfeifer Construction completed the building, ready for occupancy,
on December 31, 2011. Shalla had the following debt outstanding
at December 31, 2011.
Compute weighted-average accumulated expenditures for 2011.
Specific Construction Debt
1. 15%, 3-year note to finance purchase of land and
construction of the building, dated December 31, 2010, withinterest payable annually on December 31
Other Debt
2. 10%, 5-year note payable, dated December 31, 2007, withinterest payable annually on December 31
3. 12%, 10-year bonds issued December 31, 2006, withinterest payable annually on December 31
$750,000
$550,000
$600,000
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Compute weighted-average accumulated expenditures for 2011.
Illustration 10-4
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Compute the avoidable interest.Illustration 10-5
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Compute the actual interest cost, which represents the
maximum amount of interest that it may capitalize during 2011,
Illustration 10-6
The interest cost that Shalla capitalizes is the lesser of$120,228 (avoidable interest) and $239,500 (actual interest), or
$120,228.
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Shalla records the following journal entries during 2011:
January 1 Land 100,000
Building (or CIP) 110,000
Cash 210,000
March 1 Building 300,000Cash 300,000
May 1 Building 540,000
Cash 540,000
December 31 Building 450,000
Cash 450,000
Building (Capitalized Interest) 120,228
Interest Expense 119,272
Cash 239,500
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
At December 31, 2011, Shalla discloses the amount of interest
capitalized either as part of the income statement or in the
notes accompanying the financial statements.
Illustration 10-7
Illustration 10-8
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Acquisition of PP&E
LO 4 Descr ibe the acco unt ing p roblems asso ciated with interest capi tal izat ion.
Special Issues Related to Interest Capitalization
1. Expenditures for land.
► Interest costs capitalized are part of the cost of the
plant, not the land.
2. Interest revenue.
► Interest revenue should be offset against interest
cost when determining the amount of interest tocapitalized.
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Companies should record property, plant, and equipment:
► at the fair value of what they give up or
► at the fair value of the asset received,
whichever is more clearly evident.
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
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Cash Discounts — Whether taken or not — generallyconsidered a reduction in the cost of the asset.
Deferred-Payment Contracts — Assets, purchased through
long term credit, are recorded at the present value of theconsideration exchanged.
Lump-Sum Purchases — Allocate the total cost among the
various assets on the basis of their fair market values.
Issuance of Shares — The market value of the shares issued
is a fair indication of the cost of the property acquired.
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Ordinarily accounted for on the basis of:
► the fair value of the asset given up or
► the fair value of the asset received,
whichever is clearly more evident.
Exchanges of Nonmonetary Assets
Companies should recognize immediately any gains or losses
on the exchange when the transaction has commercial
substance.
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Meaning of Commercial Substance
Exchange has commercial substance if the future cash flows
change as a result of the transaction.
That is, if the two parties’ economic positions change, thetransaction has commercial substance.
Illustration 10-10
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Companies recognize a loss immediately whether the
exchange has commercial substance or not.
Rationale: Companies should not value assets at more thantheir cash equivalent price; if the loss were deferred, assets
would be overstated.
Exchanges - Loss Situation
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Illustration: Information Processing, Inc. trades its used machine for anew model at Jerrod Business Solutions Inc. The exchange has
commercial substance. The used machine has a book value of $8,000
(original cost $12,000 less $4,000 accumulated depreciation) and a fair
value of $6,000. The new model lists for $16,000. Jerrod gives
Information Processing a trade-in allowance of $9,000 for the usedmachine. Information Processing computes the cost of the new asset
as follows.
Illustration 10-11
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Equipment 13,000
Accumulated Depreciation—Equipment 4,000
Loss on Disposal of Equipment 2,000
Equipment 12,000
Cash 7,000
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Illustration: Information Processing records this transaction asfollows:
Illustration 10-12
Loss on
Disposal
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Exchanges - Gain Situation
Has Commercial Substance. Company usually records the
cost of a nonmonetary asset acquired in exchange for
another nonmonetary asset at the fair value of the assetgiven up, and immediately recognizes a gain.
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Illustration: Interstate Transportation Company exchanged a numberof used trucks plus cash for a semi-truck. The used trucks have a
combined book value of $42,000 (cost $64,000 less $22,000
accumulated depreciation). Interstate’s purchasing agent,
experienced in the second-hand market, indicates that the used trucks
have a fair market value of $49,000. In addition to the trucks,Interstate must pay $11,000 cash for the semi-truck. Interstate
computes the cost of the semi-truck as follows.
Illustration 10-13
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Semi-truck 60,000
Accumulated Depreciation—Trucks 22,000
Trucks 64,000Gain on disposal of Used Trucks 7,000
Cash 11,000
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Illustration: Interstate records the exchange transaction as follows:
Illustration 10-14
Gain on
Disposal
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Exchanges - Gain Situation
Lacks Commercial Substance.
Now assume that Interstate Transportation Company
exchange lacks commercial substance. That is, theeconomic position of Interstate did not change significantly
as a result of this exchange. In this case, Interstate defers
the gain of $7,000 and reduces the basis of the semi-truck.
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Semi-truck 53,000
Accumulated Depreciation—Trucks 22,000
Trucks 64,000
Cash 11,000
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Illustration: Interstate records the exchange transaction asfollows:
Illustration 10-15
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Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Summary of Gain and Loss Recognitionon Exchanges of Non-Monetary Assets
Disclosure include:
nature of the transaction(s), method of accounting for the assets exchanged, and
gains or losses recognized on the exchanges.
Illustration 10-16
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E10-19: Santana Company exchanged equipment used in itsmanufacturing operations plus $2,000 in cash for similar equipment
used in the operations of Delaware Company. The following
information pertains to the exchange.
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Santana DelawareEquipment (cost) $28,000 $28,000
Accumulated Depreciation 19,000 10,000
Fair value of equipment 13,500 15,500
Cash given up 2,000
Instructions: Prepare the journal entries to record the exchange on
the books of both companies.
Valuation of PP&E
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Calculation of Gain or Loss
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Santana Delaware
Fair value of equipment received $15,500 $13,500
Cash received / paid (2,000) 2,000
Less: Bookvalue of equipment
($28,000-19,000) (9,000)
($28,000-10,000) (18,000)
Gain or (Loss) on Exchange $4,500 ($2,500)
Valuation of PP&E
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Has Commercial Substance
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Santana:
Equipment 15,500
Accumulated depreciation 19,000
Cash 2,000
Equipment 28,000Gain on exchange 4,500
Delaware:
Cash 2,000
Equipment 13,500 Accumulated depreciation 10,000
Loss on exchange 2,500
Equipment 28,000
Valuation of PP&E
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10-49 LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Santana (Has Commercial Substance): Equipment 15,500
Accumulated depreciation 19,000
Cash 2,000
Equipment 28,000
Gain on disposal of equipment 4,500
Valuation of PP&E
Santana (LACKS Commercial Substance):
Equipment (15,500 – 4,500) 11,000 Accumulated depreciation 19,000
Cash 2,000
Equipment 28,000
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10-50 LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Delaware (Has Commercial Substance):
Valuation of PP&E
Delaware (LACKS Commercial Substance):
Cash 2,000
Equipment 13,500
Accumulated depreciation 10,000
Loss on disposal of equipment 2,500
Equipment 28,000
Cash 2,000
Equipment 13,500
Accumulated depreciation 10,000
Loss on disposal of equipment 2,500
Equipment 28,000
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10-51
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Grants are assistance received from a government in the form
of transfers of resources to a company in return for past or
future compliance with certain conditions relating to the
operating activities of the company.
IFRS requires grants to be recognized in income (income
approach) on a systematic basis that matches them with the
related costs that they are intended to compensate.
Government Grants
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10-52
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Example 1: Grant for Lab Equipment. AG Company received a €500,000 subsidy from the government to purchase lab equipment on
January 2, 2011. The lab equipment cost is €2,000,000, has a useful
life of five years, and is depreciated on the straight-line basis.
IFRS allows AG to record this grant in one of two ways:
1. Credit Deferred Grant Revenue for the subsidy and amortize
the deferred grant revenue over the five-year period.
2. Credit the lab equipment for the subsidy and depreciate thisamount over the five-year period.
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10-53
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Example 1: Grant for Lab Equipment. If AG chooses to recorddeferred revenue of $500,000, it amortizes this amount over the
five-year period to income ($100,000 per year). The effects on the
financial statements at December 31, 2011, are:
Illustration 10-17
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10-54
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
Example 1: Grant for Lab Equipment. If AG chooses to reducethe cost of the lab equipment, AG reports the equipment at
€1,500,000 ( €2,000,000 €500,000) and depreciates this amount over
the five-year period. The effects on the financial statements at
December 31, 2011, are:
Illustration 10-18
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10-55
Valuation of PP&E
LO 5 Understand account ing iss ues related to acquir ing and valu ing plant assets.
When a company contributes a non-monetary asset, it should
record the amount of the donation as an expense at the fair
value of the donated asset.
Illustration: Kline Industries donates land to the City of San
Paulo for a city park. The land cost $80,000 and has a fair value
of $110,000. Kline Industries records this donation as follows.
Contribution Expense 110,000Land 80,000
Gain on Disposal of Land 30,000
Contributions
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10-56
Costs Subsequent to Acquisition
LO 6 Descr ibe the account ing treatment for costs subsequent to acquis i t ion.
Recognize costs subsequent to acquisition as an asset whenthe costs can be
► measured reliably and
►
it is probable that the company will obtain future economicbenefits.
Future economic benefit would include increases in
1. useful life,
2. quantity of product produced, and
3. quality of product produced.
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10-57
Costs Subsequent to Acquisition
LO 6
Illustration 10-21
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10-58
Disposition of PP&E
LO 7 Descr ibe the accou nt ing treatment for the
dispo sal of p roperty, plant , and equipment.
A company may retire plant assets voluntarily or dispose of
them by
sale,
exchange,
involuntary conversion, or
abandonment.
Depreciation must be taken up to the date of disposition.
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10-59
Disposition of PP&E
Sale of Plant AssetsBE10-15: Ottawa Corporation owns machinery that cost
$20,000 when purchased on July 1, 2007. Depreciation has
been recorded at a rate of $2,400 per year, resulting in a
balance in accumulated depreciation of $8,400 at December 31,
2010. The machinery is sold on September 1, 2011, for
$10,500.
Prepare journal entries toa) update depreciation for 2011 and
b) record the sale.
LO 7 Descr ibe the accou nt ing treatment for the
dispo sal of p roperty, plant , and equipment.
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10-60
a) Depreciation for 2011
Depreciation expense ($2,400 x 8/12) 1,600
Accumulated depreciation 1,600
b) Record the sale
Cash 10,500
Accumulated depreciation 10,000
Machinery 20,000
Gain on sale 500
Disposition of PP&E
* $8,400 + $1,600 = $10,000
*
LO 7 Descr ibe the accou nt ing treatment for the
dispo sal of p roperty, plant , and equipment.
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10-61
Sometimes an asset’s service is terminated through some type
of involuntary conversion such as fire, flood, theft, or
condemnation.
Companies report the difference between the amount
recovered (e.g., from a condemnation award or insurance
recovery), if any, and the asset’s book value as a gain or loss.
They treat these gains or losses like any other type of
disposition.
Involuntary Conversion
Disposition of PP&E
LO 7 Descr ibe the accou nt ing treatment for the
dispo sal of p roperty, plant , and equipment.
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10-62
Copyright © 2011 John Wiley & Sons, Inc. All rights reserved.Reproduction or translation of this work beyond that permitted in
Section 117 of the 1976 United States Copyright Act without the
express written permission of the copyright owner is unlawful.
Request for further information should be addressed to thePermissions Department, John Wiley & Sons, Inc. The purchaser
may make back-up copies for his/her own use only and not for
distribution or resale. The Publisher assumes no responsibility for
errors, omissions, or damages, caused by the use of theseprograms or from the use of the information contained herein.
Copyright
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63
Pertukaran Aset
Apakah ada substansikomersial?
Nilai tercatat aset
yang diserahkan
tidak
Apakah nilai wajar aset yangdiserahkan andal?
tidak
ya
Apakah nilai wajar aset yangditerima andal?
tidak
Nilai wajar aset yangdiserahkan
Nilai wajar aset yangditerima
ya
ya
(nilai wajar aset yg
diserahkan) - (nilai
wajar aset yg diterima)
= signifikan
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• Kendaraan lama (nilai tercatat Rp80.000.000 [hargaperolehan Rp100.000.000 dengan akumulasi penyusutanRp20.000.000] dan nilai wajar Rp85.000.000) ditukardengan kendaraan baru (nilai wajar Rp95.000.000)
• Setelah dilakukan evaluasi ternyata memiliki substansikomersial
64
Contoh (1)
Kendaraan (baru) 85.000.000
Akumulasi penyusutan (lama) 20.000.000
Kendaraan (lama) 100.000.000
Keuntungan 5.000.000
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• Kendaraan lama (nilai tercatat Rp80.000.000 [hargaperolehan Rp100.000.000 dengan akumulasi penyusutanRp20.000.000] dan nilai wajar Rp85.000.000) ditukardengan kendaraan baru (nilai wajar Rp86.000.000)
• Setelah dilakukan evaluasi ternyata tidak memilikisubstansi komersial
65
Contoh (2)
Kendaraan (baru) 80.000.000
Akumulasi penyusutan (lama) 20.000.000
Kendaraan (lama) 100.000.000
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MODEL PENGUKURAN
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67
Model Pengukuran
Model Biaya
Aset Tetap
Model Revaluasi
Diterapkan secara untuk
seluruh aset tetap dalam
kelompok yg sama
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68
Model Biaya
Biaya perolehan
Aset
disusutkan?
Beban penyusutan
Penurunan
nilai?
Rugi penurunan nilai
Jumlah tercatat
tidak tidak
ya ya
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69
Model Revaluasi
Biaya perolehan
Beban penyusutanJumlah tercatat
(revaluasian)
tidak
ya
Revaluasi?Aset
disusutkan?
Penurunan
nilai?
Jumlah tercatat
(revaluasian)
Rugi penurunan nilai
tidak
ya
• nilai naik --- surplus revaluasi
(pendapatan komprehensif lain)
• nilai turun --- kerugian
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Revaluasi secara reguler --- jumlah tercatat dan nilaiwajar tidak berbeda material
Suatu aset tetap direvaluasi --- seluruh aset tetap dalamkelompok yang sama harus direvaluasi
• Nilai wajar Harga pasar (market based evidence)
Estimasi nilai wajar: income or depreciated replacementcost approach
• Akumulasi penyusutan Gross method --- proporsional dg perubahan nilai wajar
Net method --- eliminasi akumulasi penyusutan
70
...
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71
Perubahan Nilai Wajar
KENAIKAN NILAI WAJAR
Surplus revaluasi
(pendapatan
komprehensif lain)
Keuntungan jika
terdapat kerugian yg
diakui sebelumnya
PENURUNAN NILAI WAJAR
Kerugian
Pengurang saldo surplusrevaluasi
SURPLUS REVALUASI
SALDO LABA
Bertahap selama masapenyusutan
Sekaligus ketikapenghentian-pengakuanlaporan perubahan ekuitas
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• Biaya perolehan aset tetap Rp50 juta dan
akumulasi penyusutan Rp20 juta --- Nilai tercatat
Rp30 juta
• Aset tetap direvaluasi menjadi Rp45 juta
72
Contoh
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NILAI AWAL FAKTOR SETELAH REVALUASI
Biaya perolehan 50.000.000 150% 75.000.000
Akumulasi penyusutan 20.000.000 150% 30.000.000
Nilai tercatat 30.000.000 45.000.000
150%
30.000.000 45.000.000
Aset tetap 25.000.000
Akumulasi penyusutan 10.000.000
Surplus revaluasi 15.000.000
gross method
Akumulasi penyusutan 15.000.000
Surplus revaluasi 15.000.000
net method