scholarly journals Analisis Penerapan Pengakuan Pendapatan Kontrak Konstruksi Berdasarkan PSAK 34

2019 ◽  
Vol 7 (3) ◽  
pp. 391-396
Author(s):  
Riki Subagja ◽  
Didit Pradipto
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Revenue Recognition ◽  
Short Term ◽  
Construction Contracts ◽  
Term Contract ◽  
Short Term Contract ◽  
The One ◽  
Construction Services

This study aims to analyze the implementation of contract revenue recognition based on PSAK 34. The problem that is often faced by companies that are particularly engaged in the field of construction services in the recognition of income is the method of revenue recognition what should be used or applied, because there are differences in recognition between the one method with others. Especially if a project is done is more than a year or the so-called Long-term project. In addition, the presentation of financial statements of income recognition in each accounting period must be reported in accordance with generally accepted Accounting Standards (PSAK No. 34 concerning Construction Contracts). There is only one method used or applied that is the percentage completion method. The percentage method recognizes income with two approaches, based on physical progress and cost-to-cost. PT X as a construction service company uses the percentage of completion method with a physical progress approach (Physical progress) in the recognition of his opinion for both long-term contract and short-term contract. The results of this study conclude that the accounting treatment of the application of revenue recognition of construction services by using the percentage of completion method with physical progress approach on PT X is in conformity with the accounting standards set in PSAK No. 34. However, when compared to revenue recognition using the percentage of completion method with a cost-to-cost approach the firm can recognize the revenue and expenses more to illustrate or show a more proportional calculation because it corresponds to the costs incurred or poured out.   Keywords: revenue recognition, expense recognition, PSAK no. 34

scholarly journals PENGAKUAN PENDAPATAN DENGAN METODE PERSENTASE PENYELESAIAN BERDASARKAN PSAK NO.34

2016 ◽  
Vol 7 (1) ◽  
pp. 79
Author(s):  
Evi Nurjanah
Keyword(s):  
Qualitative Method ◽  
Accounting Standards ◽  
Revenue Recognition ◽  
Construction Contracts ◽  
Deferred Tax Liabilities ◽  
Deferred Tax ◽  
Construction Services ◽  
Cash Basis ◽  
A Company

<p><strong>Abstract</strong></p><p>This study aims to determine the method used in recognizing revenue on long-term construction. This study also aims to determine whether the recognition of revenue on long-term construction contracts are carried out in accordance with generally accepted accounting standards. In addition, to determine the appropriate revenue recognition methods Generally Accepted Accounting Standards. Object of this research was conducted at PT. X which is a company engaged in a long-term provider of construction services. Object of research data is performed only on income related to the project Mall, Malang cover the period 2011 to 2015. The analytical method used is qualitative method with descriptive approach.The results showed that PT. X recognizes revenue based on cash receipts (cash basis). So that the revenue recognized in the PT. X admittedly not based on the matching principle of revenue that occurred in that period with the costs incurred to earn income in the period. In addition, PT. X uses nominal account in the form of development cost mall in recognizing expenses related to procurement of long-term construction contracts. So PT. X can not provide detailed information related to the building construction in progress. In addition, the fee accounts can not be transferred when the handing over of assets construction that has been completed to the customer. Recognition of revenue and costs will also affect the incidence of deferred tax liabilities. In addition, recognition of revenues and expenses is not in accordance with generally accepted accounting standards, especially PSAK No. 34, Accounting for Construction Contracts. Under PSAK No. 34 that the entity using the percentage of completion method in recognizing revenue on long-term construction contracts.</p><p><strong>Abstrak</strong><br /><br />Penelitian ini bertujuan untuk mengetahui metode yang digunakan dalam mengakui pendapatan atas kontruksi jangka panjang. Penelitian ini juga bertujuan untuk mengetahui apakah pengakuan pendapatan atas kontrak kontruksi jangka panjang yang dilakukan telah sesuai dengan Standar Akuntansi yang Berlaku Umum. Selain itu juga untuk mengetahui metode pengakuan pendapatan yang sesuai Standar Akuntansi yang berlaku umum. Obyek penelitian ini dilakukan pada PT. X yang merupakan perusahaan yang bergerak dalam bidang penyedia jasa kontruksi jangka panjang. Obyek data penelitian yang dilakukan hanya pada laba rugi yang berkaitan dengan proyek Mall Malang periode tahun 2011 sampai dengan 2015. Metode analisis yang digunakan adalah metode kualitatif dengan pendekatan deskriptif. Hasil penelitian menunjukkan bahwa PT. X mengakui adanya pendapatan berdasarkan atas penerimaan kas (cash basis). Sehingga pendapatan yang diakui pada PT. X diakui tidak berdasarkan prinsip penandingan antara pendapatan yang terjadi pada periode tersebut dengan biaya yang dikeluarkan untuk memperoleh pendapatan pada periode tersebut. Selain itu, PT. X menggunakan akun nominal berupa biaya pembangunan mall dalam mengakui pengeluaran biaya yang terkait pengadaan kontrak konstruksi jangka panjang. Sehingga PT. X tidak dapat memberikan informasi mendetail terkait bangunan konstruksi dalam proses. Selain itu, akun biaya tersebut tidak dapat dialihkan ketika terjadi penyerahan aset konstruksi yang telah selesai kepada pemesan. Pengakuan pendapatan dan biaya ini juga akan mempengaruhi timbulnya kewajiban pajak tangguhan. Selain itu, pengakuan pendapatan dan biaya ini belum sesuai dengan Standar Akuntansi yang berlaku umum, khususnya PSAK No. 34 tentang Akuntansi Kontrak Kontruksi. Berdasarkan PSAK No. 34 bahwa entitas menggunakan metode persentase penyelesaian dalam mengakui pendapatan atas kontrak kontruksi jangka panjang.</p>

scholarly journals A Short Note on Overall Risk Management in an Insurance Concern

1971 ◽  
Vol 6 (2) ◽  
pp. 153-156 ◽  
Author(s):  
Karl Borch
Keyword(s):  
Short Note ◽  
Insurance Contract ◽  
Short Term ◽  
Term Contract ◽  
Term Insurance ◽  
Short Term Contract ◽  
Proper Perspective ◽  
Image Position ◽  
Sound Foundation

1. At an earlier ASTIN Colloquium participants were invited to present notes on problems which they considered as important but unsolved. There was little response to this invitation, presumably because a problem, once it is well formulated, is almost solved.In this Note I do not present any new problems. In stead I try to outline a framework which may be useful for analysing different risk problems and seeing them in their proper perspective. In my view, a framework of this kind is urgently needed to place today's actuarial work on a sound foundation.2. In general an insurance contract will define two stochastic processes. We lose little by assuming that the processes are discrete, and describing them in the following manner:(i) The payment process: x0, x1 … xt …, where xt is the amount which the company pays to settle claims in period t, or at time t.(ii) The premium process: p0, p1 … pt …, where pt is the premium which the company receives in period t, or at time t.If the contract is concluded at time t = o, the Principle of Equivalence requires thatFor the typical short-term contract with premium payable in advance (i) will reduce to3. For a long-term insurance contract one usually requires that the inequalityshall hold for all τ. This means that the company must never be a net creditor of its customer.

scholarly journals Construction contract revenue recording comparison

2008 ◽  
Vol 56 (3) ◽  
pp. 241-250
Author(s):  
Hana Bohušová
Keyword(s):  
Czech Republic ◽  
Accounting Standards ◽  
Financial Statements ◽  
Accounting System ◽  
International Accounting Standards ◽  
Publicly Traded ◽  
The Czech Republic ◽  
Publicly Traded Companies ◽  
Construction Contracts

Publicly traded companies prepare their consolidated accounts in conformity with the international accounting standards (IAS/IFRS) in accordance with the Regulation No. 1606/2002. This is obliged for all publicly traded joint-stock companies in the Czech Republic. Other companies prepare financial statements in accordance with national accounting standards. There are Accounting Act No. 563/1991 of Coll. and Regulation No. 500/2002 of Coll., Czech Accounting Standards in the Czech Republic. Both systems are based on different principles so there are many differences. The Czech Accounting System (CAS) is based on the rules while IAS/IFRS are based on principles (Kovanicová, 2005). These differences are mainly caused by the different philosophy. CAS prefers the fiscal policy to the economic substance while IAS/IFRS prefere the economic substance. One of the most significant dif­fe­ren­ces is in the field of revenue recording. There are two standards concerning the revenues recording (IAS 18 − Revenue, IAS 11 – Construction Contracts) in IAS/IFRS. CAS 019 – Expenses and Revenue are dealing with the revenue recording in the Czech Republic. The paper is aimed at the comparison of the methodical approaches for revenue recording used by IAS/IFRS and by CAS. The most important differences are caused by the different approach to the long term contracts (construction contracts, software development contracts) revenues recording.

scholarly journals ANALISIS PENERAPAN PSAK 34 DALAM PENGAKUAN PENDAPATAN PERUSAHAAN JASA KONTRUKSI PADA PT ARTERI CIPTA RENCANA

2021 ◽  
Vol 3 (1) ◽  
pp. 102-128
Author(s):  
Lola Venna Pahlevi ◽  
Ratna Sari ◽  
Hamzah Ahmad
Keyword(s):  
Secondary Data ◽  
Financial Statements ◽  
Revenue Recognition ◽  
Short Term ◽  
Financial Reports ◽  
Construction Contracts ◽  
Construction Company ◽  
Service Companies ◽  
Research Show

The aims of this research are to analyze the application of work contracts and the recognition of revenue for construstion service companies in accordance with PSAK 34 at PT Arteri Cipta Rencana. The data required in this study is secondary data, namely the financial statements of PT Arteri Cipta Rencana project for the period 2017-2019. Methods of data collection through interviews, observation and documentary. Data analysis techniques used by qualitative analysis.  This result of this research show that that the implementation of PSAK 34 at PT Arteri Cipta Rencana had executed project contracts sequentially in accordance with the prevailing tender regulations and realized the budget appropriately. The recognition of income and expenses carried out by PT Arteri Cipta Rencana is in accordance with PSAK 34 where revenue recognition for construction contracts is carried out using the completed contract method in the short-term period in the 2016-2018 financial statements. This is in accordance with PSAK 34 applicable in Indonesia. Short-term projects using the completed contract method minimize the risk of errors in estimating the specified value. The financial statements are considered to have met the criteria for the quality of financial reports well.Keyword: PSAK 34, Construction Company and Revenue Recognition

LONG-TERM AND SHORT-TERM CONTRACT IN A MIXED MARKET*

2005 ◽  
Vol 44 (3) ◽  
pp. 275-289 ◽  
Author(s):  
AKIRA NISHIMORI ◽  
HIKARU OGAWA
Keyword(s):  
Short Term ◽  
Term Contract ◽  
Mixed Market ◽  
Short Term Contract

Hidden “holes” in the capital of banks and the supply of credit to the real sector of economy

2018 ◽  
pp. 49-68 ◽  
Author(s):  
M. E. Mamonov
Keyword(s):  
Credit Risk ◽  
The Other ◽  
Real Sector ◽  
Capital Management ◽  
Loan Loss ◽  
Short Term ◽  
The Real ◽  
Ex Post ◽  
The One

Our analysis documents that the existence of hidden “holes” in the capital of not yet failed banks - while creating intertemporal pressure on the actual level of capital - leads to changing of maturity of loans supplied rather than to contracting of their volume. Long-term loans decrease, whereas short-term loans rise - and, what is most remarkably, by approximately the same amounts. Standardly, the higher the maturity of loans the higher the credit risk and, thus, the more loan loss reserves (LLP) banks are forced to create, increasing the pressure on capital. Banks that already hide “holes” in the capital, but have not yet faced with license withdrawal, must possess strong incentives to shorten the maturity of supplied loans. On the one hand, it raises the turnovers of LLP and facilitates the flexibility of capital management; on the other hand, it allows increasing the speed of shifting of attracted deposits to loans to related parties in domestic or foreign jurisdictions. This enlarges the potential size of ex post revealed “hole” in the capital and, therefore, allows us to assume that not every loan might be viewed as a good for the economy: excessive short-term and insufficient long-term loans can produce the source for future losses.

KEY ASPECTS OF THE CREDIT AND LOAN ACCOUNTING PROCESS

2021 ◽  
Vol 4 (4) ◽  
pp. 175-181
Author(s):  
S. N. KOVALENKO ◽  
◽  
Yu. N. KOVALENKO ◽  
Keyword(s):  
Financial Statements ◽  
Short Term ◽  
Economic Entity ◽  
Analytical Review ◽  
Key Aspects

The article presents the procedure for accounting for borrowed funds, short-term and long-term, provides an analytical review of the accounting financial statements, regarding loans and borrowings of an economic entity.

scholarly journals Lalabet Financial Analysis: Study of Islamic Economics at Micro Level

2021 ◽  
Vol 4 (1) ◽  
pp. 233-244
Author(s):  
Ainorrofiqie Ainorrofiqie ◽  
Umrotul Khasanah ◽  
Akhmad Djalaluddin
Keyword(s):  
Financial Management ◽  
Financial Analysis ◽  
Financial Statements ◽  
The Body ◽  
Short Term ◽  
The Family ◽  
Micro Level ◽  
The Impact ◽  
The Village

This research aims to explore the model of financial management tradition Lalabet in the village of Babbalan District Batuan Sumenep. This study is based on the fact that occurred in the community about the implementation of traditions carried out by the heirs to family members who died. Interpretative qualitative research is used and an in-depth understanding of a problem that occurs is emphasized more. Based on the results of this study, the financial management tradition Lalabet can be done based on accounting equations. The accounts contained in the accounting equation is not used in its entirety and are reported as are generally financial statements. In this case, the source of funds in carrying out Lalabet tradition is sourced from personal money, money and donations from the family, money from Muslimat, debt, and money or goods from Lalabet's proceeds. The impact is the onset of debt both short-term and long-term. While the expenditure is in the form of costs in taking care of the body, costs for tahlilan (petto'arean), pa'polo, nyatos, nyataon, nyaebu, mangaji, ngin-tangin, nyalenin mayyid, and ajege makam (kep-sekep).

scholarly journals ANALISIS HARGA SAHAM INDEX KOMPAS 100 DENGAN PENDEKATAN ERROR CORRECTION MODEL

2021 ◽  
Vol 4 (1) ◽  
pp. 406-414
Author(s):  
Amir Hamzah
Keyword(s):  
Error Correction ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Financial Statements ◽  
Error Correction Model ◽  
Short Term ◽  
Correction Model ◽  
Positive Effect

The purpose of this research is to analyze the short term and long term relationship between ROI, EPS, PER ,inflation, SBI, exchange rate,and GDP on Stock Price. The data in this research is company financial statements which included Compas 100 Index on the Indonesia Stock Exchange. statistical analysis in this research used stasionarity test, The Classical Assumptions Test, Cointegration Test, Error Correction Model Test. This research found that partially ROI, EPS, PER variables a positive effect on stock prices in the short term and long term, KURS and SBI a positive effect on stock prices in the short term, but there is no effect in the long term, inflation and GDP do not affect the stock price both in the short term and long term. Simultaneously affected the stock prices significantly affect on stock price both in the short term and long term.

A Closer Look at the Culture of Infidelity

2020 ◽  
pp. 180-200
Author(s):  
Steven M. Ortiz
Keyword(s):  
Professional Sports ◽  
Short Term ◽  
The Road ◽  
Emotional Relationships ◽  
The World ◽  
On The Road ◽  
The One ◽  
Communication Methods

This chapter takes a deeper look at the culture of infidelity that pervades the world of professional sports, why wives share a universal fear that their husbands will be unfaithful, and how they are affected by the possibility or actuality that their husbands will engage in sexual or emotional relationships with other women. Three patterns of infidelity are identified in the context of the sport marriage: the one-time encounter, the short-term affair, and the long-term affair. The concept of suspicion work is introduced to examine how wives try to manage the fear that their husbands may succumb to temptation and to specify how denial can be part of this process. The chapter discusses re-entry routines and communication methods some couples use when husbands return from travel, and the boundaries of fidelity and forgiveness wives establish as they attempt to cope with the realities of their husbands’ lives on the road.

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