3 kdpplk conceptual framework for financial reporting copy1
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KONSEP DASAR PENYUSUNAN DAN PENYAJIAN LAPORAN KEUANGAN
(KDPPLK)
CONCEPTUAL FRAMEWORKFOR PREPARATION AND
PRESENTATION OF FINANCIAL REPORTING (CF)
1
2
PRAKTEKPRAKTEK
STANDARSTANDAR
TEORI TEORI
KONSEP SISTEM
KONSEP SISTEM
KONSEPIDEOLOGI
KONSEPIDEOLOGI
??
TUJUANTUJUAN
PRINSIPPRINSIP
POSTULAT/ASUMSI/DOKTRIN
POSTULAT/ASUMSI/DOKTRIN
TEORIEKUITAS
(Point of view)
TEORIEKUITAS
(Point of view)
SistemEkonomi
SistemEkonomi
SistemPolitik
SistemPolitik
SistemSos-Bud
SistemSos-Bud
SistemHukum
SistemHukum
3PRAKTEKPRAKTEK
STANDARSTANDAR
TUJUANTUJUAN
PRINSIPPRINSIP
POSTULAT/ASUMSI/DOKTRIN
POSTULAT/ASUMSI/DOKTRIN
TEORI EKUITAS(Point of view)
TEORI EKUITAS(Point of view)
SistemEkonomi
SistemEkonomi
SistemPolitik
SistemPolitik
SistemSos-Bud
SistemSos-Bud
SistemHukum
SistemHukum
KONSEPIDEOLOGI
KONSEPIDEOLOGI
??
4
PRAKTEKPRAKTEK
STANDARSTANDAR
TEORI TEORI
KONSEP SISTEM
KONSEP SISTEM
KONSEPIDEOLOGI
KONSEPIDEOLOGI
Sistem Akuntansi Konvensional
• Liberalisme• Individualisme• Hedonisme• Kapitalisme
• Liberalisme• Individualisme• Hedonisme• Kapitalisme
• Decision making• Continuity of activity• Periodicity• Disclosure• Matching concept
• Decision making• Continuity of activity• Periodicity• Disclosure• Matching concept
• Accountability• Decision making
• Accountability• Decision making
• Entity theory• Entity theory
5
TUJUANAKUNTANSI
TUJUANAKUNTANSI
TEORI EKUITAS(SUDUT PANDANG)
TEORI EKUITAS(SUDUT PANDANG)
KONSEP DASAR(POSTULAT, ASUMSI,
DOKTRIN)
KONSEP DASAR(POSTULAT, ASUMSI,
DOKTRIN)
PABU (GAAP)PABU (GAAP)
STANDARSTANDAR
PRAKTEK(Metode, Prosedur, Teknik, dsb.)
PRAKTEK(Metode, Prosedur, Teknik, dsb.)
Stewardship vs Decision
Usefulness
•Proprietary•Entity•Investor•Residual•Fund•Commander•Enterprise
•Going concern•Economic Entity•Monetary Unit•Periodicity•Accrual•Conservatism•Etc.
6
TUJUAN
Decision UsefulnessTUJUAN
Decision Usefulness
TEORI EntityTEORI Entity•Going concern
•Economic Entity•Monetary Unit
•Periodicity•Accrual
•Going concern•Economic Entity•Monetary Unit
•Periodicity•Accrual
PABU (GAAP)PABU (GAAP)
STANDARSTANDAR
PRAKTEK(Metode, Prosedur, Teknik, dsb.)
PRAKTEK(Metode, Prosedur, Teknik, dsb.)
Conceptual Conceptual FrameworkFramework
First Level: Basic First Level: Basic ObjectiveObjective
Second Level: Second Level: Fundamental Fundamental
ConceptsConcepts
Third Level: Third Level: Recognition, Recognition,
Measurement, and Measurement, and Disclosure Disclosure ConceptsConcepts
NeedNeed
DevelopmentDevelopment
OverviewOverview
Qualitative Qualitative characteristicscharacteristics
Basic elementsBasic elements
Basic assumptionsBasic assumptions
Basic principlesBasic principles
ConstraintsConstraints
Summary of the Summary of the structurestructure
Conceptual Framework For Financial ReportingConceptual Framework For Financial ReportingConceptual Framework For Financial ReportingConceptual Framework For Financial Reporting
CF-Lama VS CF-Baru
Need for a Conceptual Framework
Rule-making should build on and relate to an
established body of concepts.
Enables IASB to issue more useful and consistent
pronouncements over time.
Conceptual Framework
LO 1 Describe the usefulness of a conceptual framework.LO 1 Describe the usefulness of a conceptual framework.
Conceptual FrameworkConceptual Framework establishes the concepts
that underlie financial reporting.
Development of a Conceptual Framework
IASB and FASB are working on a joint project to
develop a common conceptual framework
Framework will build on existing IASB and FASB
frameworks.
Project has identified the objective of financial
reporting (Chapter 1) and the qualitative
characteristics of decision-useful financial reporting
information.
Conceptual Framework
LO 2 Describe efforts to construct a conceptual framework.LO 2 Describe efforts to construct a conceptual framework.
Three levels:
First Level = Basic objective
Second Level = Qualitative characteristics and
elements of financial statements
Third Level = Recognition, measurement, and
disclosure concepts
Conceptual Framework
LO 2 Describe efforts to construct a conceptual framework.LO 2 Describe efforts to construct a conceptual framework.
Overview of the Conceptual Framework
LO 2 Describe efforts to construct LO 2 Describe efforts to construct a conceptual framework.a conceptual framework.
ASSUMPTIONSASSUMPTIONS
1.1. Economic entityEconomic entity
2.2. Going concernGoing concern
3.3. Monetary unitMonetary unit
4.4. PeriodicityPeriodicity
5.5. AccrualAccrual
PRINCIPLESPRINCIPLES
1.1. MeasurementMeasurement
2.2. Revenue recognitionRevenue recognition
3.3. Expense recognitionExpense recognition
4.4. Full disclosureFull disclosure
CONSTRAINTSCONSTRAINTS
1.1. CostCost
2.2. MaterialityMateriality
OBJECTIVEOBJECTIVEProvide information Provide information about the reportingabout the reportingentity that is usefulentity that is useful
to present and potentialto present and potentialequity investors,equity investors,
lenders, and otherlenders, and othercreditors in theircreditors in their
capacity as capitalcapacity as capitalProviders.Providers.
ELEMENTSELEMENTS
1.1. AssetsAssets2.2. LiabilitiesLiabilities3.3. EquityEquity4.4. IncomeIncome5.5. ExpensesExpenses
Illustration 2-7 Framework for Financial Reporting
First level
Second level
Third level
QUALITATIVE QUALITATIVE CHARACTERISTICSCHARACTERISTICS
1.1. Fundamental Fundamental qualitiesqualities
2.2. Enhancing Enhancing qualitiesqualities
First Level: Basic Objective
“To provide financial information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors in making decisions in their capacity as capital providers.”
LO 3 Understand the objectives of financial reporting.LO 3 Understand the objectives of financial reporting.
OBJECTIVEOBJECTIVE
Provided by issuing general-purpose financial statements.
Assumption is that users have reasonable knowledge of business
and financial accounting matters to understand the information.
IASB identified the Qualitative Characteristics of
accounting information that distinguish better (more
useful) information from inferior (less useful)
information for decision-making purposes.
Second Level: Fundamental Concepts
LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.
Qualitative Characteristics of Accounting Information
Illustration 2-2 Hierarchy of Accounting Qualities
Second Level: Fundamental Concepts
LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.
Fundamental Quality - Relevance
Relevance is one of the two fundamental qualities that make accounting information useful for decision-making.
Second Level: Fundamental Concepts
LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.
Fundamental Quality – Faithful Representation
Faithful representation means that the numbers and descriptions match what really existed or happened.
Second Level: Fundamental Concepts
LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.
Enhancing Qualities
Distinguish more-useful information from less-useful information.
Second Level: Fundamental Concepts
LO 4 Identify the qualitative characteristics of accounting information.LO 4 Identify the qualitative characteristics of accounting information.
ASSUMPTIONSASSUMPTIONS
1.1. Economic entityEconomic entity
2.2. Going concernGoing concern
3.3. Monetary unitMonetary unit
4.4. PeriodicityPeriodicity
5.5. AccrualAccrual
PRINCIPLESPRINCIPLES
1.1. MeasurementMeasurement
2.2. Revenue recognitionRevenue recognition
3.3. Expense recognitionExpense recognition
4.4. Full disclosureFull disclosure
CONSTRAINTSCONSTRAINTS
1.1. CostCost
2.2. MaterialityMateriality
OBJECTIVEOBJECTIVEProvide information Provide information about the reportingabout the reportingentity that is usefulentity that is useful
to present and potentialto present and potentialequity investors,equity investors,
lenders, and otherlenders, and othercreditors in theircreditors in their
capacity as capitalcapacity as capitalProviders.Providers.
ELEMENTSELEMENTS
1.1. AssetsAssets2.2. LiabilitiesLiabilities3.3. EquityEquity4.4. IncomeIncome5.5. ExpensesExpenses
Illustration 2-7 Framework for Financial Reporting
First level
Second level
Third level
QUALITATIVE QUALITATIVE CHARACTERISTICSCHARACTERISTICS
1.1. Fundamental Fundamental qualitiesqualities
2.2. Enhancing Enhancing qualitiesqualities
Basic ElementsBasic ElementsBasic ElementsBasic Elements
LO 4LO 4
Second Level: Basic Elements
LO 5 Define the basic elements of financial statements.LO 5 Define the basic elements of financial statements.
Third Level: Recognition, Measurement, and Disclosure Concepts
These concepts explain how companies should recognize, measure, and report financial elements and events.
ASSUMPTIONSASSUMPTIONS
1.1. Economic entityEconomic entity
2.2. Going concernGoing concern
3.3. Monetary unitMonetary unit
4.4. PeriodicityPeriodicity
5.5. AccrualAccrual
PRINCIPLESPRINCIPLES
1.1. MeasurementMeasurement
2.2. Revenue recognitionRevenue recognition
3.3. Expense recognitionExpense recognition
4.4. Full disclosureFull disclosure
CONSTRAINTSCONSTRAINTS
1.1. CostCost
2.2. MaterialityMateriality
LO 6 Describe the basic assumptions of accounting.LO 6 Describe the basic assumptions of accounting.
Recognition, Measurement, and Disclosure Concepts
Illustration 2-7 Framework for Financial Reporting
Economic Entity – company keeps its activity separate from its owners and other business unit.
Going Concern - company to last long enough to fulfill objectives and commitments.
Monetary Unit - money is the common denominator.
Periodicity - company can divide its economic activities into time periods.
Accrual Basis of Accounting – transactions are recorded in the periods in which the events occur.
LO 6 Describe the basic assumptions of accounting.LO 6 Describe the basic assumptions of accounting.
Third Level: Assumptions
Basic Assumptions
Measurement
Cost is generally thought to be a faithful representation of the amount paid for a given item.
Fair value is “the amount for which an asset could be exchanged, a liability settled, or an equity instrument granted could be exchanged, between knowledgeable, willing parties in an arm’s length transaction.”
IASB has taken the step of giving companies the option to use fair value as the basis for measurement of financial assets and financial liabilities.
Third Level: Principles
LO 7 Explain the application of the basic principles of accounting.LO 7 Explain the application of the basic principles of accounting.
Principles
Revenue Recognition - revenue is to be recognized when it is probable that future economic benefits will flow to the company and reliable measurement of the amount of revenue is possible.
Third Level: Principles
LO 7 Explain the application of the basic principles of accounting.LO 7 Explain the application of the basic principles of accounting.
Illustration 2-3 Timing of Revenue Recognition
Expense Recognition - outflows or “using up” of assets or incurring of liabilities (or a combination of both) during a period as a result of delivering or producing goods and/or rendering services.
Third Level: Principles
LO 7 Explain the application of the basic principles of accounting.LO 7 Explain the application of the basic principles of accounting.
Illustration 2-4 Expense Recognition
“Let the expense follow the revenues.”
Full Disclosure – providing information that is of sufficient importance to influence the judgment and decisions of an informed user.
Provided through:
Financial Statements
Notes to the Financial Statements
Supplementary information
Third Level: Principles
LO 7 Explain the application of the basic principles of accounting.LO 7 Explain the application of the basic principles of accounting.
Cost – the cost of providing the information must be weighed
against the benefits that can be derived from using it.
Materiality - an item is material if its inclusion or omission
would influence or change the judgment of a reasonable
person.
Third Level: Constraints
LO 8 Describe the impact that constraints have on LO 8 Describe the impact that constraints have on reporting accounting information.reporting accounting information.
Constraints
Summary of the Structure
The existing conceptual frameworks underlying U.S. GAAP and IFRS are very similar.
The converged framework should be a single document, unlike the two conceptual frameworks that presently exist.
Both the IASB and FASB have similar measurement principles, based on historical cost and fair value. However, U.S. GAAP has a concept statement to guide estimation of fair values when market-related data is not available (Statement of Financial Accounting Concepts No. 7, “Using Cash Flow Information and Present Value in Accounting”). The IASB is considering a proposal to provide expanded guidance on estimating fair values.
Users External Parties Owner-Manager
Debt & Share
Holders
All Stake-holders
Tujuan Decision Usefulnes
Teori
EkuitasEntity Proprietary Investor Fund dsb Enterprise
Konsep Dasar
(Asumsi)
Ec.EntityGoing Concern
PeriodicityMonetary Unit
Accrual
PABU
Standar
Praktek
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