PSAK 72 Pendapatan Kontrak Pelanggan 11112017

AKUNTANSI
PENDAPATAN DARI
KONTRAK PELANGGAN
PSAK 72

Agenda
Perubahan Standar

Akuntansi Pendapatan
Kontrak Pelanggan

Ilustrasi

2

PSAK 72
• PSAK 72 merupakan adopsi IFRS 15 Revenue from
contracts with customers effective 2018, kecuali:
– Item terkait IFRS 16 Leases (karena belum diadopsi)  hak
penggunaan aset
– Tanggal efektif dan penarikan standar yang telah ada

• Standar ini bersifat principles based
• Standar komprehensif karena mengatur semua jenis
Pendapatan yang terkait dengan kontrak pelanggan
sehingga menghilangkan pengaturan dalam standar yang
lain.

3

PSAK yang Digantikan
PSAK 23: Pendapatan
PSAK 34: Kontrak Konstruksi,
ISAK 10: Program Loyalitas Pelanggan,
ISAK 21: Perjanjian Konstruksi Real Estat,
ISAK 27: Pengalihan Aset dari Pelanggan, dan
PSAK 44: Akuntansi Aktivitas Pengembangan Real Estate.
4

PSAK 72
Standar

Lampiran A - Daftar Istilah
Lampiran B – Pedoman Penerapan
Lampiran C – Tanggal Efektif dan Ketentuan
Transasi
Contoh Ilustratif
Lampiran D – Penyesuaian terhadap Pernyataan
Lain
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PSAK 72
Pendahuluan
• tujuan dan ruang lingkup
Pengakuan
• Identifikasi kontrak, kombinasi kontrak, modifikasi kontrak,
identifikasi dan penyelesaian kewajiban
Pengukuran
• Menentukan, mengalokasikan harga transaksi, perubahan
Biaya Kontrak
• Biaya incremental, pemenuhan kontrak, amortisasi dan
penurunan nilai

Penyajian
Pengungkapan
6

Tahapan dalam Pengakuan
Mengidentifikasi kontrak dengan pelanggan ;
Mengindentifikasi kewajiban pelaksanaan;
Menentukan harga transaksi;
Mengalokasikan harga transaksi terhadap
kewajiban pelaksanaan;
Mengakui pendapatan ketika (pada saat) entitas
telah menyelesaikan kewajiban pelaksanaan.
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Tujuan
• Menetapkan prinsip tentang sifat, jumlah, waktu, dan
ketidakpastian pendapatan dan arus kas yang timbul dari
kontrak dengan pelanggan.
• Pencapaian tujuan
– Mengakui pendapatan untuk menggambarkan pengalihan barang

atau jasa yang dijanjikan kepada pelanggan
– Mempertimbangkan syarat kontrak serta seluruh fakta dan keadaan
yang relevan
– Untuk kontrak individual dan portfolio kontrak

8

Ruang Lingkup
• Untuk seluruh kontrak dengan pelanggan, kecuali:
a) kontrak sewa - PSAK 30 Sewa;
b) kontrak asuransi - PSAK 62 Kontrak Asuransi;
c) instrumen keuangan - ED PSAK 71: Instrumen Keuangan, PSAK
65: Laporan Keuangan Konsolidasian, PSAK 66: Pengaturan
Bersama, PSAK 4: Laporan Keuangan Tersendiri dan PSAK 15
Investasi pada Entitas Asosiasi dan Ventura Bersama; dan
d) Pertukaran nonmoneter antara entitas dalam lini bisnis yang
sama untuk memfasilitasi penjualan kepada pelanggan atau
pelanggan potensial  kontrak antara dua perusahaan minyak
untuk menukarkan minyak untuk memenuhi permintaan dari
pelanggan dalam lokasi yang berbeda secara tepat waktu.

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Pengakuan
Indentifikasi kontrak

Kombinasi kontrak

Modifikasi kontrak

Identifikasi kewajiban pelaksanaan

Penyelesaian kewajiban pelaksanaan
10

Mengidentifikan Kontrak
Entitas mencatat kontrak dgn pelanggan hanya jika seluruh kriteria
berikut terpenuhi:
a) para pihak dalam kontrak telah menyetujui kontrak (secara tertulis,
lisan atau sesuai dengan praktik bisnis pada umumnya) dan

berkomitmen untuk melaksanakan kewajiban mereka masingmasing;
b) entitas dapat mengidentifikasi hak setiap pihak mengenai barang
atau jasa yang akan dialihkan;
c) entitas dapat mengidentifikasi jangka waktu pembayaran barang
atau jasa yang akan dialihkan;
d) kontrak memiliki substansi komersial (yaitu risiko, waktu, atau
jumlah arus kas masa depan entitas diperkirakan berubah sebagai
akibat dari kontrak); dan
e) kemungkinan besar entitas akan menagih imbalan yang akan
menjadi haknya dalam pertukaran barang atau jasa yang akan
dialihkan ke pelanggan.

Entitas hanya mempertimbangkan kemampuan dan intensi pelanggan
untuk membayar jumlah imbalan ketika jatuh tempo. Jumlah imbalan yang
akan menjadi hak entitas mungkin lebih kecil dari jumlah yang tercatat
dalam kontrak jika imbalan bersifat variabel karena entitas
11 dapat
menawarkan suatu konsesi harga kepada pelanggan (lihat paragraf 52).

Kombinasi Kontrak

• Entitas mengombinasikan dua atau lebih kontrak yang
disepakati dan mencatat kontrak tersebut sebagai kontrak
tunggal jika satu atau lebih kriteria berikut terpenuhi:
a. kontrak dinegosiasikan sebagai satu paket dengan tujuan
komersial tunggal;
b. jumlah imbalan yang dibayarkan dalam satu kontrak bergantung
pada harga atau pelaksanaan dari kontrak lain; atau
c.

barang atau jasa yang dijanjikan dalam kontrak (atau beberapa
barang atau jasa yang dijanjikan dalam setiap kontrak)
merupakan kewajiban pelaksanaan tunggal sesuai dengan
paragraf 22-30.

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Modifikasi Kontrak
• Modifikasi kontrak adalah perubahan dalam ruang lingkup
atau harga kontrak (atau keduanya) yang disetujui oleh
para pihak dalam kontrak.

• Entitas mencatat sebagai kontrak terpisah jika kondisi
berikut terpenuhi:
– ruang lingkup kontrak meningkat karena penambahan barang atau
jasa yang dijanjikan bersifat dapat dibedakan (distinct) (sesuai
dengan paragraf 26-30); dan
– harga kontrak meningkat oleh sejumlah imbalan yang
mencerminkan harga jual berdiri sendiri (stand-alone selling prices)
entitas atas penambahan barang atau jasa yang dijanjikan dan
penyesuaian yang tepat terhadap harga yang mencerminkan
keadaan kontrak tertentu.

Modifikasi Kontrak
• Jika modifikasi kontrak tidak dicatat sebagai kontrak terpisah, maka entitas mencatat
barang atau jasa yang dijanjikan yang belum dialihkan pada tanggal modifikasi kontrak
dengan cara manapun di bawah ini yang dapat diterapkan:
– Entitas mencatat modifikasi kontrak seolah-olah modifikasi kontrak tersebut
merupakan penghentian kontrak yang ada dan menciptakan kontrak baru, jika sisa
barang atau jasa bersifat dapat dibedakan dari barang atau jasa yang dialihkan
pada atau sebelum tanggal modifikasi kontrak. Jumlah imbalan yang dialokasikan
pada sisa kewajiban pelaksanaan (atau pada sisa barang atau jasa yang bersifat

dapat dibedakan dalam kewajiban pelaksanaan tunggal yang diidentifikasikan
sesuai dengan paragraf 22(b)) adalah jumlah dari:
• (i) imbalan yang dijanjikan oleh pelanggan (termasuk jumlah yang telah
diterima dari pelanggan) yang tercakup dalam estimasi harga transaksi dan
yang belum diakui sebagai pendapatan; dan
• (ii) imbalan yang dijanjikan sebagai bagian dari modifikasikontrak.

Mengidentifikan Kewajiban Pelaksanaan
• Pada awal kontrak, entitas menilai barang atau jasa yang
dijanjikan dalam kontrak dengan pelanggan dan
mengidentifikasi sebagai kewajiban pelaksanaan setiap janji
untuk mengalihkan kepada pelanggan baik:
a) suatu barang atau jasa (atau sepaket barang atau jasa)
yang bersifat dapat dibedakan; atau
b) serangkaian barang atau jasa yang bersifat dapat
dibedakan yang secara substansial sama dan memiliki
pola pengalihan yang sama kepada pelanggan (lihat
paragraf 23).

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Mengidentifikasi Kewajiban Pelaksanaan
Janji kontrak dengan pelanggan
• Kontrak umumnya secara eksplisit menyatakan barang
atau jasa yang dijanjikan untuk dialihkan kepada
pelanggan.
• Akan tetapi, kewajiban pelaksanaan tidak terbatas pada
barang atau jasa yang secara eksplisit dinyatakan dalam
kontrak.
Barang atau jasa Bersifat dapat Dibedakan
•
•
•
•

Penjualan barang yang diproduksi; yang dibeli
Pelaksanaan tugas
Penyediaan jasa; jasa pengaturan
Pembaian hak kepada barang dan jasa
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Barang atau Jasa Bersifat dapat Dibedakan
• Barang atau jasa yang dijanjikan kepada pelanggan bersifat dapat
• dibedakan jika kedua kriteria berikut terpenuhi:
a. pelanggan memperoleh manfaat dari barang atau jasa baik
barang atau jasa itu sendiri atau bersama dengan sumber daya
lain yang siap tersedia kepada pelanggan (yaitu barang atau jasa
yang bersifat dapat dibedakan); dan
b. janji entitas untuk mengalihkan barang atau jasa kepada
pelanggan dapat diidentifikasi secara terpisah dari janji lain dalam
kontrak (yaitu janji untuk mengalihkan barang atau jasa yang
bersifat dapat dibedakan dalam konteks kontrak tersebut).
Jika barang atau jasa yang dijanjikan bersifat tidak dapat dibedakan,
entitas mengombinasikan barang atau jasa dengan barang atau jasa
lain yang dijanjikan sampai entitas mengidentifikasi sepaket barang
atau jasa tersebut bersifat dapat dibedakan.
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Penyelesaian Kewajiban Pelaksanaan
Kewajiban Pelaksanaan yang Diselesaikan pada
Waktu Tertentu
Kewajiban Pelaksanaan yang Diselesaikan pada
Waktu Tertentu

Pengukuran Kemajuan terhadap Penyelesaian
Kewajiban Pelaksanaan secara penuh
• Metode Pengukuran Kemajuan
• Pengukuran Kemajuan yang Rasional

18

Penyelesaian Kewajiban Pelaksanaan
• Entitas mengakui pendapatan ketika (atau selama) entitas
menyelesaikan kewajiban pelaksanaan dengan
mengalihkan barang atau jasa yang dijanjikan (yaitu aset)
kepada pelanggan. Aset dialihkan ketika (atau selama)
pelanggan memperoleh pengendalian atas aset.
• Pada awal kontrak entitas menentukan apakah entitas
menyelesaikan kewajiban pelaksanaan sepanjang waktu
(sesuai dengan paragraf 35-37) atau menyelesaikan
kewajiban pelaksanaan pada suatu waktu tertentu (sesuai
dengan paragraf 38).

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Kewajiban Pelaksanaan yang Diselesaikan Sepanjang
Waktu
(Performance Obligation Over Time)
• Entitas mengalihkan pengendalian barang atau jasa sepanjang waktu dan, oleh karena itu, menyelesaikan
kewajiban pelaksanaan dan mengakui pendapatan sepanjang waktu, jika satu dari kriteria berikut terpenuhi:

a. pelanggan secara simultan menerima dan mengonsumsi manfaat
yang disediakan oleh kinerja entitas saat entitas melaksanakan
kewajiban pelaksanaannya tersebut (lihat paragraf PP03-PP04);
b. kinerja entitas menciptakan atau meningkatkan aset (sebagai
contoh, pekerjaan dalam proses) yang dikendalikan pelanggan
sebagai aset yang diciptakan atau ditingkatkan (lihat paragraph
PP05); atau
c. kinerja entitas tidak menciptakan suatu aset dengan penggunaan
alternatif terhadap entitas (lihat paragraf 36) dan entitas memiliki
hak yang dapat dipaksakan untuk pembayaran kinerja yang
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Kewajiban Pelaksanaan yang Diselesaikan Pada
Waktu Tertentu
(Performance Obligation At a Point In Time)
• Jika kewajiban pelaksanaan tidak diselesaikan sepanjang waktu sesuai dengan paragraf 3537, maka entitas menyelesaikan kewajiban pelaksanaan pada waktu tertentu.
• Untuk menentukan waktu tertentu dimana pelanggan memperoleh pengendalian atas aset
yang dijanjikan dan entitas menyelesaikan kewajiban pelaksanaan, entitas
mempertimbangkan persyaratan pengendalian dalam paragraf 31-34.
• Sebagai tambahan, entitas mempertimbangkan indikator pengalihan pengendalian, yang
mencakup, tetapi tidak terbatas pada, hal berikut:

a. Entitas memiliki hak kini atas pembayaran aset
b. Pelanggan memiliki memiliki hak kepemilikan legal
atas aset
c. Entitas telah mengalihkan kepemilikan fisik atas aset
d. Pelanggan memiliki risiko dan manfaat signifikan atas
kepemilikan aset
e. Pelanggan telah menerima aset

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Pengukuran
Menentukan harga transaksi
Imbalan Variabel
Liabilitas Pengemalian
Estimasi Pematasan Imbalan Variabel
Penentuan kembali Imbalan Variabel
Keberadaan Komponan Pendanaan Signifikan dalam
Kontrak
• Imbalan Non Kas
• Uang Imbalan kepada Pelanggan
•
•
•
•
•

Mengalokasikan harga transaksi terhadap
kewajiban Pelaksanaan
Perubahan dalam Harga Transaksi
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Menentukan Harga Transaksi
• Ketika (atau selama) kewajiban pelaksanaan diselesaikan, entitas
mengakui pendapatan atas sejumlah harga transaksi (yang tidak
termasuk estimasi atas imbalan variabel yang dibatasi sesuai dengan
paragraf 56-58) yang dialokasikan terhadap kewajiban pelaksanaan.
Menentukan Harga Transaksi
• Entitas mempertimbangkan syarat kontrak dan praktik bisnis umum
entitas untuk menentukan harga transaksi. Harga transaksi adalah
jumlah imbalan yang diperkirakan menjadi hak entitas dalam
pertukaran untuk mengalihkan barang atau jasa yang dijanjikan
kepada pelanggan, tidak termasuk jumlah yang ditagih atas nama
pihak ketiga (sebagai contoh, beberapa pajak penjualan). Imbalan
yang dijanjikan dalam kontrak dengan pelanggan dapat mencakup
jumlah tetap, jumlah variabel, atau keduanya.

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Menentukan Harga Transaksi
• Entitas mempertimbangkan syarat kontrak dan praktik bisnis umum
entitas untuk menentukan harga transaksi. Sifat, waktu, dan jumlah
imbalan yang dijanjikan oleh pelanggan mempengaruhi estimasi harga
transaksi.
• Ketika menentukan harga transaksi, entitas mempertimbangkan
dampak dari seluruh hal berikut:
a. imbalan variabel (lihat paragraf 50-55 dan 59);
b. estimasi pembatas imbalan variabel (lihat paragraf 56-58);
c. keberadaan komponen pendanaan signifikan dalam kontrak
(lihat paragraf 60-65);
d. imbalan nonkas (lihat paragraf 66-69); dan
e. utang imbalan kepada pelanggan (lihat paragraf 70-72).

24

Mengalokasikan Harga Transaksi terhadap
Kewajiban Pelaksanaan
• Tujuan ketika mengalokasikan harga transaksi adalah
entitas mengalokasikan harga transaksi terhadap setiap
kewajiban pelaksanaan (atau barang atau jasa bersifat
dapat dibedakan) dalam jumlah yang menggambarkan
jumlah imbalan yang diharapkan menjadi hak entitas
dalam pertukaran untuk mengalihkan barang atau jasa
yang dijanjikan kepada pelanggan.
• Untuk memenuhi tujuan alokasi, entitas mengalokasikan
harga transaksi terhadap setiap kewajiban pelaksanaan
yang diidentifikasi dalam kontrak dengan dasar harga jual
berdiri sendiri relatif (relative stand-alone selling price)
sesuai dengan paragraf 76-80, kecuali diatur khusus
dalam paragraf 81-83 (untuk alokasi diskon) dan paragraf
84-86 (untuk alokasi
25

Biaya Kontrak
Biaya inkremantal atas Perolehan Kontrak

Biaya Pemenuhan Kontrak

Amortisasi dan Penurunan Nilai

26

Penyajian
• Ketika salah satu pihak dalam kontrak telah
melaksanakan, entitas menyajikan kontrak dalam laporan
posisi keuangan sebagai aset kontrak atau liabilitas
kontrak, bergantung pada hubungan antara kinerja entitas
dan pembayaran pelanggan. Entitas menyajikan hak tanpa
syarat terhadap imbalan secara terpisah sebagai piutang.

27

Pengungkapan
• Tujuan persyaratan pengungkapan adalah agar entitas
mengungkapkan informasi yang cukup yang memungkinkan
pengguna laporan keuangan memahami sifat, jumlah, waktu dan
ketidakpastian pendapatan dan arus kas yang timbul dari kontrak
dengan pelanggan. Untuk mencapai tujuan tersebut, entitas
mengungkapkan informasi kualitatif dan kuantitatif tentang seluruh hal
berikut:
a. kontrak dengan pelanggan (lihat paragraf 113-122);
b. pertimbangan signifikan dan perubahan dalam pertimbangan,
yang dibuat dalam menerapkan Pernyataan ini terhadap kontrak
tersebut (lihat paragraf 123-126); dan
c. aset yang diakui dari biaya untuk memperoleh atau memenuhi
kontrak dengan pelanggan sesuai dengan paragraf 91 atau 95
(lihat paragraf 127-128).
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Pengungkapan
• Kontrak dengan Pelanggan
– Pemisahan Pendapatan
– Saldo Kontrak
– Kewajiban Pelaksanaan
– Harga Transaksi yang Dialokasikan terhadap Sisa Kewajiban
Pelaksanaan

• Pertimbangan Signifikan dalam Penerapan Pernyataan
Ini
– Menentukan Waktu Penyelesaian Kewajiban Pelaksanaan
– Menentukan harga transaksi dan jumlah yang dialokasikan untuk
kewajiban pelaksanaan

• Aset yang Diakui dari Biaya untuk Memperoleh atau
Memenuhi Kontrak dengan Pelanggan
29

Tanggal Efektif
• Entitas menerapkan Pernyataan ini untuk periode tahun
buku yang dimulai pada atau setelah 1 Januari 2019.
Penerapan dini diperkenankan.
• Jika entitas menerapkan Pernyataan ini lebih dini, maka
entitas mengungkapkan fakta tersebut.

30

Ketentuan Transisi (Paragraf C02-C08)
• Entitas menerapkan Pernyataan ini menggunakan satu
dari dua metode berikut:
a. secara retrospektif untuk setiap periode pelaporan
sajian sebelumnya sesuai dengan PSAK 25:
Kebijakan Akuntansi, Perubahan Estimasi Akuntansi,
dan Kesalahan tunduk pada panduan (expedients)
dalam paragraf C05; atau
b. secara retrospektif dengan dampak kumulatif atas
penerapan secara awal Pernyataan ini diakui pada
tanggal penerapan awal sesuai dengan paragraf C07C08.
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Pedoman Penerapan
a. Pemisahaan Pendapatan
b. kewajiban pelaksanaan diselesaikan sepanjang waktu
(paragraph PP2-PP13);
c. metode untuk mengukur kemajuan terhadap
penyelesaian kewajiban pelaksanaan secara penuh
(paragraf PP14-PP19);
d. penjualan dengan hak retur (paragraf PP20-PP27);
e. garansi (paragraf PP28-PP33);
f. imbalan prinsipal dibandingkan dengan agen (paragraf
PP34-PP38);
g. opsi pelanggan untuk tambahan barang atau jasa
(paragraph PP39-PP43);
h. hak pelanggan yang tidak dilaksanakan32(paragraf PP44PP47);

Pedoman Penerapan
i. biaya dibayar di muka yang tidak dapat dikembalikan
(dan beberapa biaya terkait) (paragraf PP48-PP51);
j. lisensi (paragraf PP52-PP63B);
k. perjanjian pembelian kembali (paragraf PP64-PP76)
l. pengaturan konsinyasi (paragraf PP77-PP78);
m. pengaturan bill-and-hold (paragraf PP79-PP82);
n. penerimaan pelanggan (paragraf PP83-PP86); dan
o. pengungkapan pemisahan pendapatan (paragraf PP87PP89).

33

Contoh
MENGIDENTIFIKASI KONTRAK CI02
• Contoh 1 – Kolektabilitas Imbalan
• Contoh 2 – Imbalan Bukan Berdasarkan Harga Tertulis – Konsesi
Harga Implisit
• Contoh 3 – Konsesi Harga Implisit
• Contoh 4 – Penilaian Kembali Kriteria untuk Mengidentifikasi Kontrak
MODIFIKASI KONTRAK CI18
• Contoh 5 – Modifikasi Kontrak untuk Barang
• Contoh 6 – Perubahan Harga Transaksi Setelah Modifikasi Kontrak
• Contoh 7 – Modifikasi Kontrak Jasa
• Contoh 8 – Modifikasi yang Menghasilkan Penyesuaian Catch Up
Kumulatif Terhadap Pendapatan
• Contoh 9 – Perubahan dalam Ruang Lingkup dan Harga yang Tidak
Disetujui
34

Contoh
MENGIDENTIFIKASI KEWAJIBAN PELAKSANAAN CI44
• Contoh 10 – Barang dan Jasa Tidak Bersifat Dapat Dibedakan
• Contoh 11 – Menentukan Apakah Barang atau Jasa Bersifat Dapat
Dibedakan
• Contoh 12 – Janji Eksplisit dan Implisit dalam Kontrak
KEWAJIBAN PELAKSANAAN YANG DISELESAIKAN SEPANJANG
WAKTU CI66
• Contoh 13 – Pelanggan Menerima dan Mengonsumsi Manfaat Secara
Simultan
• Contoh 14 – Menilai Penggunaan Alternatif dan Hak atas Pembayaran
• Contoh 15 – Aset yang Tidak Memiliki Penggunaan Alternatif Bagi
Entitas
• Contoh 16 – Hak yang Dapat Dipaksakan atas Pembayaran
Pelaksanaan yang Diselesaikan Sampai Saat Ini
• Contoh 17 – Penilaian Apakah Kewajiban Pelaksanaan
35
Diselesaikan
Pada Waktu Tertentu atau Sepanjang Waktu

Contoh
MENGUKUR KEMAJUAN TERHADAP PENYELESAIAN KEWAJIBAN
PELAKSANAAN SECARA PENUH CI91
• Contoh 18 – Mengukur Kemajuan Ketika Membuat Barang atau Jasa
Tersedia
• Contoh 19 – Bahan Baku Belum Terpakai
IMBALAN VARIABEL CI101
• Contoh 20 – Denda Menyebabkan Kenaikan Imbalan Variabel
• Contoh 21 – Mengestimasi Imbalan Variabel
MEMBATASI ESTIMASI IMBALAN VARIABEL CI109
• Contoh 22 – Hak Pengembalian
• Contoh 23 – Konsesi Harga
• Contoh 24 – Insentif Diskon Berdasarkan Volume
• Contoh 25 – Fees Manajemen yang Bergantung pada Pembatasan
36

Contoh
• KEBERADAAN KOMPONEN KEUANGAN SIGNIFIKAN DI DALAM
KONTRAK CI134
• Contoh 26 – Komponen Keuangan Signifikan dan Hak Pengembalian
Contoh 27 – Pembayaran Ditahan Dalam Kontrak Jangka Panjang
Contoh 28 – Menentukan Tingkat Diskonto
Contoh 29 – Pembayaran di Muka dan Penilaian Tingkat Diskonto
Contoh 30 – Pembayaran di Muka
IMBALAN NONKAS CI155
• Contoh 31 – Pemberian Hak atas Imbalan Nonkas
•
•
•
•

UTANG IMBALAN KEPADA PELANGGAN CI159
• Contoh 32 – Utang Imbalan Kepada Pelanggan

37

Contoh
• MENGALOKASIKAN HARGA TRANSAKSI KEPADA KEWAJIBAN
PELAKSANAAN CI163
• Contoh 33 – Metodologi Alokasi
• Contoh 34 – Mengalokasikan Diskon
• Contoh 35 – Alokasi Imbalan Variabel
BIAYA KONTRAK CI188
• Contoh 36 – Biaya Inkremental dalam Memperoleh Kontrak
• Contoh 37 – Biaya yang Menyebabkan Kenaikan Aset
PENYAJIAN CI197
• Contoh 38 – Liabilitas dan Piutang Kontrak
• Contoh 39 – Aset Kontrak Diakui untuk Pelaksanaan Entitas
• Contoh 40 – Piutang Diakui atas Pelaksanaan Entitas
38

Contoh
PENGUNGKAPAN CI209
• Contoh 41 – Pemisahan Pendapatan – Pengungkapan Kuantitatif
• Contoh 42 – Pengungkapan Harga Transaksi yang Dialokasikan ke
Sisa Kewajiban Pelaksanaan
• GARANSI CI222
• Contoh 44 – Garansi
IMBALAN PRINSIPAL DIBANDINGKAN DENGAN IMBALAN AGEN
CI230
• Contoh 45 – Mengatur Provisi Barang atau Jasa (Entitas merupakan
Agen)
• Contoh 46 – Janji untuk Menyediakan Barang atau Jasa (Entitas
merupakan Prinsipal)
• Contoh 46A - Janji untuk Menyediakan Barang atau Jasa (Prinsipal)
• Contoh 47 – Janji untuk Menyediakan Barang atau Jasa (Prinsipal)
• Contoh 48 – Mengatur Provisi Barang atau Jasa (Entitas merupakan
39
Agen)

Contoh
OPSI PELANGGAN ATAS BARANG DAN JASA TAMBAHAN CI249
• Contoh 49 – Opsi yang Memberikan Pelanggan Hak Material (Voucher
Diskon)
• Contoh 50 – Opsi yang Tidak Memberikan Pelanggan Hak yang
• Bersifat Material (Tambahan Barang atau Jasa)
• Contoh 51 – Opsi yang Memberikan Pelanggan Hak Material (Opsi
Pembaharuan)
• Contoh 52 – Program Loyalitas Pelanggan
FEES DIMUKA YANG TIDAK DAPAT DIKEMBALIKAN CI271
• Contoh 53 – Fee Dimuka yang Tidak Dapat Dikembalikan

40

Contoh
LISENSI CI275
• Contoh 54 – Hak Menggunakan Kekayaan Intelektual
• Contoh 55 – Lisensi Kekayaan Intelektual
Contoh 56 – Mengidentifikasi Lisensi yang Bersifat Dapat dibedakan
Contoh 57 – Hak Waralaba
Contoh 58 – Akses ke Lisensi Intelektual
Contoh 59 – Hak Menggunakan Kekayaan Intelektual
Contoh 60 – Royalti Berbasis Penjualan untuk Lisensi Kekayaan
Intelektual
• Contoh 61 – Akses Kekayaan Intelektual
PERJANJIAN JUAL BELI KEMBALI CI314
• Contoh 62 – Perjanjian Jual Beli Kembali
PENGATURAN BILL-AND-HOLD CI322
• Contoh 63 – Pengaturan Bill-and-Hold
41
•
•
•
•
•

Determining Transaction Price—Step 3
Time Value of Money


When contract (sales transaction) involves a significant
financing component.
►

Interest accrued on consideration to be paid over
time.

►

Fair value determined either by measuring the
consideration received or by discounting the payment
using an imputed interest rate.

►

Company reports as interest expense or interest
revenue.
LO 5

ILLUSTRATION 18-12
Transaction Price
-Extended Payment Terms

Time Value of Money
EXTENDED PAYMENT TERMS

Facts: On July 1, 2015, SEK Company sold goods to Silva Company for
R$900,000 in exchange for a 4-year, zero-interest-bearing note with a face
amount of R$1,416,163. The goods have a cost on SEK’s books of R$590,000.
Questions: (a) How much revenue should SEK Company record on July 1,
2015? (b) How much revenue should it report related to this transaction on
December 31, 2015?
Entry to record SEK’s sale to Silva Company on July 1, 2015, is as follows.
Notes Receivable
Sales Revenue

1,416,163
900,000

Discount on Notes Receivable

516,163

Cost of Goods Sold 590,000
Inventory

590,000
LO 5

Time Value of Money

ILLUSTRATION 18-12
Transaction Price
-Extended Payment Terms

EXTENDED PAYMENT TERMS
Facts: On July 1, 2015, SEK Company sold goods to Silva Company for
R$900,000 in exchange for a 4-year, zero-interest-bearing note with a face
amount of R$1,416,163. The goods have a cost on SEK’s books of R$590,000.
Questions: (a) How much revenue should SEK Company record on July 1,
2015? (b) How much revenue should it report related to this transaction on
December 31, 2015?
Entry to record interest revenue at the end of the year, December 31, 2015.
Discount on Notes Receivable

54,000

Interest Revenue (12% x ½ x $900,000)

54,000

Companies are not required to reflect the time value of money if the time period
for payment is less than a year.
LO 5

Determining Transaction Price—Step 3
Non-Cash Consideration
Goods, services, or other non-cash consideration.


Companies sometimes receive contributions (e.g.,
donations and gifts).



Customers sometimes contribute goods or services,
such as equipment or labor, as consideration for goods
provided or services performed.



Companies generally recognize revenue on the basis
of the fair value of what is received.

LO 5

Determining Transaction Price—Step 3
Consideration Paid or Payable to Customers


May include discounts, volume rebates, coupons, free
products, or services.



In general, these elements reduce the consideration
received and the revenue to be recognized.

LO 5

Consideration Paid or Payable

ILLUSTRATION 18-13
Transaction Price –
Volume Discount

VOLUME DISCOUNT
Facts: Sansung Company offers its customers a 3% volume discount if they
purchase at least ¥2 million of its product during the calendar year. On March 31,
2015, Sansung has made sales of ¥700,000 to Artic Co. In the previous 2 years,
Sansung sold over ¥3,000,000 to Artic in the period April 1 to December 31.
Questions: How much revenue should Sansung recognize for the first 3
months of 2015?
Sansung makes the following entry on March 31, 2015.
Accounts Receivable
Sales Revenue

679,000
679,000

Sansung should reduce its revenue by ¥21,000 (¥700,000 x 3%) because it is
probable that it will provide this rebate.
LO 5

Consideration Paid or Payable

ILLUSTRATION 18-13
Transaction Price –
Volume Discount

Questions: How much revenue should Sansung recognize for the first 3
months of 2015?
Assuming Sansung’s customer meets the discount threshold, Sansung makes
the following entry.
Cash

679,000

Accounts Receivable

679,000

If Sansung’s customer fails to meet the discount threshold, Sansung makes the
following entry upon payment.
Cash

700,000

Accounts Receivable
Sales Discounts Forfeited

679,000
21,000

LO 5

Allocating Transaction Price to Separate
Performance Obligations—Step 4


Based on their relative fair values.



Best measure of fair value is what the company could
sell the good or service for on a standalone basis.



If not available, companies should use their best
estimate of what the good or service might sell for as a
standalone unit.

LO 6

Allocating Transaction Price to Separate
Performance Obligations—Step 4

ILLUSTRATION 18-14
Transaction Price
Allocation

LO 6

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Company satisfies its performance obligation when the
customer obtains control of the good or service.
Change in Control Indicators
1. Company has a right to payment for asset.
2. Company has transferred legal title to asset.
3. Company has transferred physical possession of asset.
4. Customer has significant risks and rewards of ownership.
5. Customer has accepted the asset.

LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Recognizing revenue from a performance obligation over
time


Measure progress toward completion
►

Method for measuring progress should depict transfer
of control from company to customer.

►

Most common are cost-to-cost and units-of-delivery
methods.

►

Objective of methods is to measure extent of progress
in terms of costs, units, or value added.
LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Step in Process
1. Identify the
contract with
customers.

Description
A contract is an
agreement that creates
enforceable rights or
obligations.

Implementation
A company applies the revenue
guidance to contracts with
customers and must determine
if new performance obligations
are created by a contract
modification.

ILLUSTRATION 18-20
Summary of the
Five-Step Revenue
Recognition Process

LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Step in Process

Description

Implementation

2. Identify the
separate
performance
obligations
in the
contract

A performance obligation
is a promise in a contract
to provide a product or
service to a customer.

A contract may be comprised of
multiple performance
obligations.

ILLUSTRATION 18-20
Summary of the
Five-Step Revenue
Recognition Process

A performance obligation
exists if the customer can
benefit from the good or
service on its own or
together with other readily
available resources.

Accounting is based on
evaluation of whether the
product or service is distinct
within the contract.
If each of the goods or services
is distinct, but is interdependent
and interrelated, these goods
and services are combined and
reported as one performance
obligation.
LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Step in Process
3. Determine
the
transaction
price.

Description

Implementation

Transaction price is the
amount of consideration
that a company expects to
receive from a customer
in exchange for
transferring goods and
services.

In determining the transaction
price, companies must consider
the following factors:
1. variable consideration,
2. time value of money,
3. Non-cash consideration, and
4. consideration paid or
payable to customer.

ILLUSTRATION 18-20
Summary of the
Five-Step Revenue
Recognition Process

LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Step in Process
4. Allocate the
transaction
price to the
separate
performance
obligation.

Description
If more than one
performance obligation
exists, allocate the
transaction price based
on relative fair values.

Implementation
The best measure of fair value
is what the good service could
be sold for on a standalone
basis (standalone selling price).
Estimates of standalone selling
price can be based on
1. adjusted market
assessment,
2. expected cost-plus a margin
approach, or

ILLUSTRATION 18-20
Summary of the
Five-Step Revenue
Recognition Process

3. a residual approach.

LO 7

Recognizing Revenue When (or as) Each
Performance Obligation Is Satisfied-Step 5
Step in Process
5. Recognize
revenue
when each
performance
obligation is
satisfied.

Description
A company satisfies its
performance obligation
when the customer
obtains control of the
good or service.

Implementation
Companies satisfy performance
obligations either at a point in
time or over a period of time.
Companies recognize revenue
over a period of time if
1. the customer controls the
asset as it is created or
2. the company does not have
an alternative use for the
asset.

ILLUSTRATION 18-20
Summary of the
Five-Step Revenue
Recognition Process

LO 7

Right of Return


Right of return is granted for product for various
reasons (e.g., dissatisfaction with product).



Company returning the product receives any
combination of the following.
1. Full or partial refund of any consideration paid.
2. Credit that can be applied against amounts owed,
or that will be owed, to the seller.
3. Another product in exchange.

LO 8

Right of Return

ILLUSTRATION 18-21
Recognition—Right of Return

RIGHT OF RETURN
Facts: Venden Company sells 100 products for €100 each to Amaya Inc. for
cash. Venden allows Amaya to return any unused product within 30 days
and receive a full refund. The cost of each product is €60. To determine the
transaction price, Venden decides that the approach that is most predictive
of the amount of consideration to which it will be entitled is the most likely
amount. Using the most likely amount, Venden estimates that:
1. Three products will be returned.
2. The costs of recovering the products will be immaterial.
3. The returned products are expected to be resold at a profit.

Question: How should Venden record this sale?

LO 8

Right of Return

ILLUSTRATION 18-21
Recognition—Right of Return

Question: How should Venden record this sale?
Venden records the sale as follows with the expectation that three
products will be returned:
Cash

10,000

Sales Revenue [€9,700 x (€100 x 97)]
Refund Liability (€100 x 3)

9,700

300

Venden records the cost of goods sold with the following entry.
Cost of Goods Sold

5,820

Estimated Inventory Returns (€60 x 3) 180
Inventory

6,000
LO 8

Right of Return

ILLUSTRATION 18-21
Recognition—Right of Return

Question: How should Venden record this sale?
When a return occurs, Venden records the following entries.
Refund Liability (2 x €100) 200
Accounts Payable

200

Returned Inventory (2 x €60)

120

Estimated Inventory Returns

120

Companies record the returned asset in a separate account from inventory
to provide transparency.

LO 8

Repurchase Agreements


Transfer control of (sell) an asset to a customer but
have an obligation or right to repurchase.



If obligation or right to repurchase is for an amount
greater than or equal to selling price, then
transaction is a financing transaction.

LO 8

Repurchase Agreements

ILLUSTRATION 18-22
Recognition—Repurchase
Agreement

REPURCHASE AGREEMENT
Facts: Morgan Inc., an equipment dealer, sells equipment on January 1,
2015, to Lane Company for £100,000. It agrees to repurchase this
equipment on December 31, 2016, for a price of £121,000.

Question: How should Morgan Inc. record this transaction?
Assuming an interest rate of 10 percent is imputed from the agreement,
Morgan makes the following entry to record the financing on January 1, 2015.
Cash

100,000

Liability to Lane Company

100,000

LO 8

Repurchase Agreements

ILLUSTRATION 18-22
Recognition—Repurchase
Agreement

Question: How should Morgan Inc. record this transaction?
Morgan Inc. records interest on December 31, 2016, as follows.
Interest Expense

10,000

Liability to Lane Company (£100,000 x 10%)

10,000

Morgan Inc. records interest and retirement of its liability to Lane Company
on December 31, 2016, as follows.
Interest Expense

11,000

Liability to Lane Company (£110,000 x 10%)

11,000

Liability to Lane Company 121,000
Cash (£100,000 + £10,000 + £11,000)

121,000
LO 8

Bill-and-Hold Arrangements


Contract under which an entity bills a customer for a
product but the entity retains physical possession of
the product until a point in time in the future.



Result when buyer is not yet ready to take delivery but
does take title and accepts billing.

LO 8

Bill-and-Hold Arrangements

ILLUSTRATION 18-23
Recognition—Bill and Hold

BILL AND HOLD
Facts: Kaya Company sells ₺450,000 (cost ₺280,000) of fireplaces on
March 1, 2015, to a local coffee shop, Baristo, which is planning to expand
its locations around the city. Under the agreement, Baristo asks Kaya to
retain these fireplaces in its warehouses until the new coffee shops that will
house the fireplaces are ready. Title passes to Baristo at the time the
agreement is signed.

Question: When should Kaya recognize the revenue from this
bill-and-hold arrangement?
Kaya determines when it has satisfied its performance obligation to transfer a
product by evaluating when Baristo obtains control of that product.

LO 8

Bill-and-Hold Arrangements

ILLUSTRATION 18-23
Recognition—Bill and Hold

Question: When should Kaya recognize the revenue from this
bill-and-hold arrangement?
For Baristo to have obtained control of a product in a bill-and-hold
arrangement, all of the following criteria should be met:
(a) The reason for the bill-and-hold arrangement must be substantive.
(b) The product must be identified separately as belonging to Baristo.
(c) The product currently must be ready for physical transfer to Baristo.
(d) Kaya cannot have the ability to use the product or to direct it to another
customer.
In this case, it appears that the above criteria were met, and therefore
revenue recognition should be permitted at the time the contract is signed.

LO 8

Bill-and-Hold Arrangements

ILLUSTRATION 18-23
Recognition—Bill and Hold

Question: When should Kaya recognize the revenue from this
bill-and-hold arrangement?
Kaya makes the following entry to record the sale.
Accounts receivable
Sales Revenue

450,000
450,000

Kaya makes an entry to record the related cost of goods sold as follows.
Cost of Goods Sold
Inventory

280,000
280,000

LO 8

Principal-Agent Relationships


Agent’s performance obligation is to arrange for principal to
provide goods or services to a customer.



Examples:



►

Preferred Travel Company (agent) facilitates the booking
of cruise excursions by finding customers for Regency
Cruise Company (principal).

►

Priceline (USA) (agent) facilitates the sale of various
services such as car rentals at Hertz (USA) (principal).

Amounts collected on behalf of the principal are not
revenue of the agent.
►

Revenue for agent is amount of commission received.
LO 8

LO 8

Consignments


Manufacturers (or wholesalers) deliver goods but retain
title to the goods until they are sold.



Consignor (manufacturer or wholesaler) ships
merchandise to the consignee (dealer), who is to act as
an agent for the consignor in selling the merchandise.



Consignor makes a profit on the sale.
►



Carries merchandise as inventory.

Consignee makes a commission on the sale.

LO 8

Consignments

ILLUSTRATION 18-25
Recognition—Sales on
Consignment

LO 8

Consignments

ILLUSTRATION 18-25
Recognition—Sales on
Consignment

LO 8

Warranties
Two types of warranties to customers:
1. Product meets agreed-upon specifications in contract at
time product is sold.
a. Warranty is included in sales price (assurance-type
warranty).

2. Not included in sales price of product (service-type
warranty).
a. Recorded as a separate performance obligation.

LO 8

Warranties

ILLUSTRATION 18-26
Performance Obligations
and Warranties

WARRANTIES
Facts: Maverick Company sold 1,000 Rollomatics during 2015 at a total
price of $6,000,000, with a warranty guarantee that the product was free of
any defects. The cost of Rollomatics sold is $4,000,000. The term of the
assurance warranty is two years, with an estimated cost of $30,000. In
addition, Maverick sold extended warranties related to 400 Rollomatics for 3
years beyond the 2-year period for $12,000.

Question: What are the journal entries that Maverick Company
should make in 2015 related to the sale and the related warranties?

LO 8

ILLUSTRATION 18-26
Performance Obligations
and Warranties

Warranties

Question: What are the journal entries that Maverick Company
should make in 2015 related to the sale and the related warranties?
To record the revenue and liabilities related to the warranties:
Cash ($6,000,000 + $12,000)
Warranty Expense 30,000
Warranty Liability

6,012,000
30,000

Unearned Warranty Revenue
Sales Revenue

12,000

6,000,000

To reduce inventory and recognize cost of goods sold:
Cost of Goods Sold 4,000,000
Inventory

4,000,000
LO 8

Non-Refundable Upfront Fees


Payments from customers before
►

Delivery of a product.

►

Performance of a service.



Generally relate to initiation, activation, or setup of a
good or service to be provided or performed in the
future.



Most cases, upfront payments are nonrefundable.
►

Examples include:


Membership fee in a health club.



Activation fees for phone, Internet, or cable.
LO 8

PRESENTATION AND DISCLOSURE
Presentation
Contract Assets and Liabilities


Contract assets are of two types:
1. Unconditional rights to receive consideration
because company has satisfied its performance
obligation.
2. Conditional rights to receive consideration
because company has satisfied one performance
obligation but must satisfy another performance
obligation before it can bill the customer.
LO 9

Presentation

ILLUSTRATION 18-29
Contract Asset Recognition
and Presentation

CONTRACT ASSET
Facts: On January 1, 2015, Finn Company enters into a contract to transfer
Product A and Product B to Obermine Co. for €100,000. The contract
specifies that payment of Product A will not occur until Product B is also
delivered. In other words, payment will not occur until both Product A and
Product B are transferred to Obermine. Finn determines that standalone
prices are €30,000 for Product A and €70,000 for Product B. Finn delivers
Product A to Obermine on February 1, 2015. On March 1, 2015, Finn
delivers Product B to Obermine.

Question: What journal entries should Finn Company make in
regards to this contract in 2015?

LO 9

ILLUSTRATION 18-29
Contract Asset Recognition
and Presentation

Presentation

Question: What journal entries should Finn Company make in
regards to this contract in 2015?
On February 1, 2015, Finn records the following entry:
Contract Asset

30,000

Sales Revenue

30,000

On February 1, Finn does not record an accounts receivable because it does
not have an unconditional right to receive the €100,000 unless it also
transfers Product B to Obermine. When Finn transfers Product B on March
1, 2015, it makes the following entry.
Accounts Receivable

100,000

Contract Asset

30,000

Sales Revenue

70,000
LO 9

Presentation

ILLUSTRATION 18-30
Contract Liability Recognition
and Presentation

CONTRACT LIABILITY
Facts: On March 1, 2015, Henly Company enters into a contract to transfer
a product to Propel Inc. on July 31, 2015. It is agreed that Propel will pay the
full price of $10,000 in advance on April 1, 2015. The contract is noncancelable. Propel, however, does not pay until April 15, 2015, and Henly
delivers the product on July 31, 2015. The cost of the product is
$7,500.

Question: What journal entries are required in 2015?
No entry is required on March 1, 2015:
►

Neither party has performed on the contract.

►

Neither party has an unconditional right as of March 1, 2015.

LO 9

ILLUSTRATION 18-30
Contract Liability Recognition
and Presentation

Presentation

Question: What journal entries are required in 2015?
On receiving the cash on April 15, 2015, Henly records the following entry.
Cash

10,000

Unearned Sales Revenue

10,000

On satisfying the performance obligation on July 31, 2015, Henly records the
following entry to record the sale.
Unearned Sales Revenue
Sales Revenue

10,000

10,000

In addition, Henly records cost of goods sold as follows.
Cost of Good Sold

7,500

Inventory

7,500
LO 9

Presentation
Costs to Fulfill a Contract


Companies divide fulfillment costs (contract
acquisition costs) into two categories:
1. Those that give rise to an asset.
2. Those that are expensed as incurred.

LO 9

Presentation
Collectibility


Credit risk that a customer will be unable to pay in
accordance with the contract.
►

Whether a company will get paid is not a
consideration in determining revenue recognition.

►

Amount recognized as revenue is not adjusted for
customer credit risk.

LO 9

Disclosure
Companies disclose qualitative and quantitative
information about the following:


Contracts with customers.



Significant judgments.



Assets recognized from costs incurred to fulfill a
contract.

LO 9

Disclosure
Companies provide a range of disclosures:


Disaggregation of revenue.



Reconciliation of contract balances.



Remaining performance obligations.



Cost to obtain or fulfill contracts.



Other qualitative disclosures.
►

Significant judgments and changes in them.

►

Minimum revenue not subject to variable
consideration constraint.
LO 9

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

REVENUE RECOGNITION OVER TIME
Under certain circumstances companies recognize
revenue over time.
The most notable context in which revenue may be
recognized over time is long-term construction contract
accounting.

LO 10 Apply the percentage-of-completion method for long-term contracts.

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

REVENUE RECOGNITION OVER TIME
Long-term contracts frequently provide that seller (builder)
may bill purchaser at intervals.
►

Examples:


Development of military and commercial aircraft



Weapons-delivery systems



Space exploration hardware

LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

REVENUE RECOGNITION OVER TIME
A company recognizes revenue over time if at least one of
the following two criteria is met:
1. Company’s performance creates or enhances an asset
(e.g., work in process) that the customer controls as the
asset is created or enhanced; or
2. Company’s performance does not create an asset with
an alternative use. In addition…

LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

REVENUE RECOGNITION OVER TIME
In addition at least one of the following criteria must be met:
a. The customer simultaneously receives and consumes the
benefits of the entity’s performance as the entity performs.
b. Another company would not need to substantially re-perform
the work the company has completed to date if that other
company were to fulfill the remaining obligation to the
customer.
c. The company has a right to payment for its performance
completed to date, and it expects to fulfill the contract as
promised.
LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

REVENUE RECOGNITION OVER TIME
If criterion 1 or 2 is met, then a company recognizes
revenue over time if it can reasonably estimate its progress
toward satisfaction of the performance obligations.


Company recognizes revenues and gross profits each
period based upon the progress of the construction—
referred to as the percentage-of-completion method.



If criteria are not met, the company recognizes revenues
and gross profit when the contract is completed, referred
to as the cost-recovery (zero-profit) method.
LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

Percentage-of-Completion Method
Measuring the Progress Toward Completion
Most popular input measure used to determine the progress
toward completion is the cost-to-cost basis.

LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

Percentage-of-Completion Method
Revenue to Recognized Cost-to-Cost Basis
ILLUSTRATION 18A-1

ILLUSTRATION 18A-2

ILLUSTRATION 18A-3

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Illustration: Hardhat Construction Company has a contract to
construct a £4,500,000 bridge at an estimated cost of
£4,000,000. The contract is to start in July 2015, and the bridge
is to be completed in October 2017. The following data pertain to
the construction period.

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

ILLUSTRATION 18A-4

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

ILLUSTRATION 18A-5

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Illustration: Percentage-of-Completion Revenue, Costs, and
Gross Profit by Year
ILLUSTRATION 18A-6

LO 10

ILLUSTRATION 18A-6

APPENDIX 18A
PERCENTAGE-OFCOMPLETION
METHOD

ILLUSTRATION 18A-7

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Illustration: Content of Construction in Process Account—
Percentage-of-Completion Method
ILLUSTRATION 18A-8

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Financial Statement Presentation—Percentageof-Completion
Computation of Unbilled Contract Price at 12/31/15
ILLUSTRATION 18A-9

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Financial Statement Presentation—Percentageof-Completion Method (2015)
ILLUSTRATION 18A-10

LO 10

APPENDIX 18A

PERCENTAGE-OF-COMPLETION METHOD

Financial Statement Presentation—Percentageof-Completion Method (2016)
ILLUSTRATION 18A-11

LO 10

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

Cost-Recovery (Zero-Profit) Method
This method recognizes revenue only to the extent of costs
incurred that are expected to be recoverable. Only after all costs
are incurred is gross profit recognized.

LO 11 Apply the cost-recovery method for long-term contracts.

APPENDIX 18A

COST-RECOVERY (ZERO-PROFIT) METHOD

Illustration: Hardhat Construction would report the following
revenues and costs for 2015–2017.

ILLUSTRATION 18A-14

LO 11

APPENDIX 18A

COST-RECOVERY (ZERO-PROFIT) METHOD

ILLUSTRATION 18A-14
Cost-Recovery Method
Revenue, Costs, and
Gross Profit by Year

ILLUSTRATION 18A-15
Journal Entries—
Cost-Recovery Method

LO 11

APPENDIX 18A

COST-RECOVERY (ZERO-PROFIT) METHOD

ILLUSTRATION 18A-14
Cost-Recovery Method
Revenue, Costs, and
Gross Profit by Year

ILLUSTRATION 18A-16
Comparison of Gross
Profit Recognized under
Different Methods

LO 11

APPENDIX 18A

COST-RECOVERY (ZERO-PROFIT) METHOD

ILLUSTRATION 18A-17
Financial Statement Presentation—Cost- Recovery Method

LO 11

APPENDIX 18A

LONG-TERM CONSTRUCTION CONTRACTS

Long-Term Contract Losses
1. Loss in Current Period on a Profitable Contract
►

Percentage-of-completion method only, the estimated
cost increase requires a current-period adjustment of
gross profit recognized in prior periods.

2. Loss on an Unprofitable Contract
►

Under both percentage-of-completion and costrecovery methods, the company must recognize in the
current period the entire expected contract loss.

LO 12 Identify the proper accounting for losses on long-term contracts.

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss in Current Period
Casper
Casper Construction
Construction Co.
Co.

Prepare the journal entries to record revenue and expense for 2014, 2015, and
2016 assuming the estimated cost to complete at the end of 2015 was
$215,436.
Advance slide in presentation mode to reveal answers.

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss in Current Period

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss in Current Period

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss on Unprofitable Contract
Casper
Casper Construction
Construction Co.
Co.

Prepare the journal entries for 2014, 2015, and 2016 assuming the estimated
cost to complete at the end of 2015 was $246,038 instead of $170,100.

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss on Unprofitable Contract

$675,000 – 683,438 = (8,438) cumulative loss

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss on Unprofitable Contract

LO 12

APPENDIX 18A

LONG-TERM CONTRACT LOSSES

Illustration: Loss on Unprofitable Contract
For the Cost-Recovery method, companies would recognize the
following loss :

LO 12

APPENDIX 18B

REVENUE RECOGNITION FOR FRANCHISES

Franchises
Four types of franchising arrangements have evolved:
1. Manufacturer-retailer
2. Manufacturer-wholesaler
3. Service sponsor-retailer
4. Wholesaler-retailer

LO 13 Explain r