Ali Tafriji Biswan (Altaf)

STATEMENT OF COMPREHENSIVE INCOME

(Income Statement)

Konsep Income

Capital maintenance concept

Income statement (Transaction approach; b4 IAS)

Statement of comprehensive income (IAS) Misal: Net aset awal tahun Rp45 jt, akhir tahun Rp80 jt, lalu ada tambahan modal investasi Rp10 jt, berapa income? Rp25 jt. Karena tidak detail, akuntansi kita lebih prefer mengaplikasikan pendekatan transaksi untuk menentukan income Laba bersih = Pendapatan Beban + Untung - Rugi

Tinjauan Rugi Laba

Performance

Kegunaan: Basis untuk: evaluasi kinerja masa lalu manajemen. Basis untuk prediksi kinerja masa hadapan. nilai risiko atau ketidakpastian arus kas mendatang.

Kelemahan: Item Item-item tertentu yang tidak dapat diukur secara meyakinkan tidak dilaporkan dalam Laba rugi. Angka income sangat tergantung metode apa yang dipakai. Pengukuran income melibatkan unsur judgment.

Definisi
Total income minus expense, di luar komponen other comprehensive income Bahasa lamanya: net income Memuat income dan expense (termasuk reclassification adjustment) yg tidak diakui di dalam profit or loss Perubahan ekuitas selama periode tertentu yg dihasilkan dari transaksi dan kejadian lain, selain yg transaksi pemilik

Profit or loss

Other comprehensive income Total comprehensive income

Single-Step Income Statement Step

Income Statement (in thousands) Revenues:

Terdiri dari 2 grup: Revenues Expenses Net Income

Tdk dibedakan antara Operating & Non-operating. Non-operating.

Sales Interest revenue Total revenue Expenses:

$ 285,000 17,000 302,000 149,000 10,000 43,000 21,000 24,000 247,000 $ 55,000 $ 0.75

SingleSingleStep

Cost of goods sold Advertising expense Depreciation expense Interest expense Income tax expense Total expenses Net income Earnings per share

Multiple-Step Income Statement Step

Penyajian dibagi dalam beberapa bagian/seksi. bagian/seksi.
Income Statement (in thousands) Sales $ 285,000 Cost of goods sold 149,000 Gross profit 136,000 Operating expenses: Advertising expense Depreciation expense Total operating expense Income from operations Other revenue (expense): Interest revenue Interest expense Total other Income before taxes Income tax expense Net income
Earnings per share

1. Operating Section 2. Nonoperating Section

10,000 43,000 53,000 83,000 17,000 (21,000) (4,000) 79,000 24,000 55,000
0.75

3. Income tax

$
$

Operating Income
Operating income mengukur kinerja operasi bisnis yg mendasar (fundamental business operations), fundamental rumusannya adalah:

Gross profit Operating expenses = Operating income

Baik FASB maupun IASB memandang Gross Profit adalah sajian utama income, tetapi apakah IAS menganut single/multiple step?

Statement of Comprehensive Income

Komponen Statement of comprehensive income: o Revenue o Finance costs o Share of the profit or loss of associates and joint ventures accounted for using the equity Method o Tax expense o A single amount comprising the total of
o the post tax profit or loss of discontinued operations, and o the post-tax gain or loss recognized on the measurement to fair value less costs to sell or on the disposal of the assets or disposal group(s) constituting the discontinued operation

o Profit or loss o Each component of other comprehensive income classified by nature ach o Share of the other comprehensive income of associates and joint hare ventures accounted for using the equity method; and o Total comprehensive income.

Penyajian Perubahan Ekuitas

Perubahan Ekuitas dalam Suatu Periode Komponen dari profit or loss Perubahan non pemilik Komponen dari other comprehensive income Komponen dari owner changes in equity Disajikan dalam Income statement Disajikan dalam Statement of comprehensive income Disajikan dalam Statement of changes in equity Disajikan dalam Statement of comprehensive income

Perubahan pemilik

Disajikan dalam Statement of changes in equity

Comprehensive Income
Definisi menurut FASB: All changes in equity during a period except those resulting from investments by owners and distributions to owners owners.
Income Statement (in thousands) Sales $ 285,000 Cost of goods sold 149,000 Gross profit 136,000 Operating expenses: Advertising expense Depreciation expense Total operating expense Income from operations Other revenue (expense): Interest revenue Interest expense Total other Income before taxes Income tax expense Net income 17,000 (21,000) (4,000) 79,000 24,000 55,000 10,000 43,000 53,000 83,000

Other Comprehensive Income

Other Comprehensive Income

Mencakup income & expense yg tdk diakui dalam profit/loss (net income) Contoh:
changes in revaluation surplus actuarial gains and losses on defined benefit plans gains and losses arising from translating the financial statements of a foreign operation gains and losses on remeasuring available available-for-sale financial assets the effective portion of gains and losses on hedging instruments in a cash flow hedge

Comprehensive Income
Two-Statement Format for Comprehensive Income

Comprehensive Income
Combined Income Statement
V. Gill Inc. Combined Statement of Comprehensive Income For the Year Ended December 31, 2007 Sales revenue Cost of goods sold Gross profit Operating expenses Net income Unrealized holding gain, net of tax Comprehensive income $ 800,000 600,000 200,000 90,000 110,000 30,000 $ 140,000

Disclose

An entity shall disclose the following items in the statement of comprehensive income as allocations for the period:
(a) profit or loss for the period attributable to:
(i) non-controlling interests, and (ii) owners of the parent.

(b) total comprehensive income for the period attributable to:

(i) non-controlling interests, and (ii) owners of the parent.

STATEMENT OF COMPREHENSIVE INCOME (SINGLE APPROACH) 2007 Revenue Cost of sales Gross profit Other income Distribution costs Administrative expenses Other expenses Finance costs Share of profit of associates Profit before tax Income tax expense (25%) Profit for the year from contonuing operations Loss for the year from discontinued operations Profit for ther year Other comprehensive income: Exchange differences on translating foreign operations AFS financial assets Cash flow hedges Gains on property revaluation Accrual gains (losses) on defined benefit pension plans Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the year, net of tax Total comprehensive income for the year Profit attributable to: Owners of the parent Minority interest Total comprehensive income attributable to: Owners of the parent Minority interest Earnings per share: Basic and diluted 390.000 (245.000) 145.000 20.667 (9.000) (20.000) (2.100) (8.000) 35.100 11.300 (8.700) (21.000) (1.200) (7.500) 30.100 2008 355.000 (230.000) 125.000

16.667 161.667 (40.417) 121.250 121.250

3.000 128.000 (32.000) 96.000 (30.500) 65.500

5.334 (24.000) (667) 933 (667) 400 4.667 (14.000) 107.250 97.000 10.250 107.250 85.800 21.450 107.250 0,46

10.667 26.667 (4.000) 3.367 1.333 (700) (9.334) 28.000 93.500 52.400 41.100 93.500 74.800 18.700 93.500 0,3

STATEMENT OF COMPREHENSIVE INCOME (TWO-STATEMENT)

INCOME STATEMENT 2007 Revenue Cost of sales Gross profit Other income Distribution costs Administrative expenses Other expenses Finance costs Share of profit of associates Profit before tax Income tax expense (25%) Profit for the year from contonuing operations Loss for the year from discontinued operations Profit for ther year Profit attributable to: Owners of the parent Minority interest Earnings per share: Basic and diluted 390.000 (245.000) 145.000 20.667 (9.000) (20.000) (2.100) (8.000) 35.100 11.300 (8.700) (21.000) (1.200) (7.500) 30.100 2008 355.000 (230.000) 125.000

16.667 161.667 (40.417) 121.250 121.250 97.000 24.250 121.250 0,46

3.000 128.000 (32.000) 96.000 (30.500) 65.500 52.400 13.100 65.500 0,3

STATEMENT OF COMPREHENSIVE INCOME 2007 Profit for the year Other comprehensive income: Exchange differences on translating foreign operations AFS financial assets Cash flow hedges Gains on property revaluation Accrual gains (losses) on defined benefit pension plans Share of other comprehensive income of associates Income tax relating to components of other comprehensive income Other comprehensive income for the year, net of tax Total comprehensive income for the year Total comprehensive income attributable to: Owners of the parent Minority interest 121.250 5.334 (24.000) (667) 933 (667) 400 4.667 (14.000) 107.250 10.667 26.667 (4.000) 3.367 1.333 (700) (9.334) 28.000 93.500 2006 65.500

85.800 21.450 107.250

74.800 18.700 93.500

Extraordinary Items (FASB)

Event No or No Infrequent? Unusual? Yes and Yes

Report Gain (Loss) As

Extraordinary Item

Apakah extraordinary items masih relevan menurut IAS?

Reporting Irregular Items

Discontinued Operations occurs when, (a) company eliminates the results of operations and cash flows of a component.
(b)

there is no significant continuing involvement in that component.

Amount reported net of tax.

Apakah discontinued operations masih relevan menurut IAS?

Reporting Discontinued Operations

Pada tahun 2007: PT Media mencatat laba operasi berjalan (net) $55,000,000. Divisi Restauran dijual dg pretax loss $270,000, sebelumnya dari hasil operasional , pretax loss $450,000. Misal, pajak 30%, siapkan sajian income PT Media!
Income from continuing operations Discontinued operations: Loss from operations, net of $135,000 tax Loss on disposal, net of $81,000 tax Total loss on discontinued operations Net income
Contoh kasus tsb, kalau disajikan menurut versi IAS sbb.: Loss for the year from discontinued operations $504,000

$55,000,000 315,000 189,000 504,000 $54,496,000

Reporting Discontinued Operations

Discontinued Operations are reported after Income from continuing operations.
Income Statement (in thousands) Sales Cost of goods sold
Other revenue (expense): Interest revenue Interest expense Total other Income before taxes Income tax expense Income from continuing operations Discontinued operations: Loss from operations, net of tax Loss on disposal, net of tax 315 189 504 $ 54,496 17,000 (21,000) (4,000) 79,000 24,000 55,000

$ 285,000 149,000

Previously labeled as Net Income.

Moved to

Total loss on discontinued operations Net income

Earnings Per Share

Calculation
EPS = Net income - Preferred dividends Weighted average number of shares outstanding

Indikator bisnis yg penting Mengukur uang yang dihasilkan oleh tiap lembar saham biasa Diungkapkan dalam Statement of comprehensive income

Earnings Per Share

Tahun 2007, PT Kirby melaporkan laba bersih Rp M. Rp1,2 Dibayarkan dividen saham preferen Rp250 juta. Rata Rata-rata jumlah saham biasa yang beredar 190 juta. Hitunglah EPSnya! EPS = Net income - Preferred dividends Weighted average number of shares outstanding

1.200.000.000 - 250.000.000 EPS = = Rp5 per lb 190.000.000

Expense
When items of income or expense are material, an entity shall disclose their nature and amount separately Circumstances that would give rise to the separate disclosure of items of income and expense include:
write-downs of inventories to net realisable value or of property, plant and equipment to recoverable amount, as well as reversals of such write-downs; restructurings of the activities of an entity and reversals of any provisions for the costs of restructuring; disposals of items of property, plant and equipment; disposals of investments; discontinued operations; litigation settlements; and other reversals of provisions.

Analisis Expense Nature

Penyajian expense sesuai sifatnya (misal penyusutan, pembelian material, biaya transportasi, biaya pensium, dan biaya iklan). Metode ini simpel karena tdk ada alokasi biaya ke fungsi-fungsi. Contoh sajian expense dg nature fungsi. nature-expense method sbb.:

Analisis Expense Function

Metode function of expense atau cost of sales mengklasifikasikan biaya ke fungsinya sbg bagian dari biaya penjualan, biaya distribusi, biaya administrasi. Tampaknya ini lebih relevan bagi pengambilan keputusan para manajer. Contoh sajiannya sbb.:

Statement of Changes in Equity

Components:
total comprehensive income for the period showing period, separately the total amounts attributable to owners of the parent and to non-controlling interests; for each component of equity, the effects of retrospective application or retrospective restatement for each component of equity, a reconciliation between the carrying amount at the beginning and the end of the period period, separately disclosing changes resulting from:
(i) profit or loss; (ii) each item of other comprehensive income; and (iii) transactions with owners in their capacity as owners, showing separately contributions by and distributions to owners and changes in ownership interests in subsidiaries that do not result in a loss of control.

STATEMENT OF CHANGES IN EQUITY Share Capital Balance at 1 Jan. 2006 Changes in accounting policy Restated balance Changes in equity for 2006: Dividends Total comprehensive income Balance at 31 Dec. 2006 Changes in equity for 2007: Issue of share capital Dividens Total comprehensive income Transfer to R/E Balance at 31 Dec. 2007 50.000 650.000 (15.000) 96.600 200 243.500 (14.400) 3.200 800 (200) 2.200 600.000 (10.000) 53.200 161.700 16.000 17.600 1.600 1.600 600.000 600.000 Retained Earnings 118.100 400 118.500 AFS Fin. Assets 1.600 1.600 Revaluation Surplus Total 719.700 400 720.100 (10.000) 70.800 780.900 50.000 (15.000) 83.000 898.900

Tugas
Tersedia data 2008: pajak atas laba operasi berjalan Rp187 juta, pajak atas rugi pelepasan operasi Rp25,5 juta, laba tidak terealisasi atas sekuitas AFS Rp17 juta (minus pajak Rp2 juta). Item lainnya sebagai berikut:
Extraordinary gain Rp 95 juta Retained earnings, 1 Jan. 2008 Rp 600 juta Loss on discontinued operations 75 juta Cogs 850 juta Administrative expenses 240 juta Selling expenses 300 juta Rent revenue 40 juta Sales 1.900 juta Cash dividends declared 80 juta Shares outstanding 100.000

Diminta: 1. Sajikan pelaporan income dg metode terpisah (two (two-statement) 2. Sajikan Retained earnings statement