Akuntansi Pajak - Akuntansi Aset Tetap part 1

ummy nadhiroh

5 Apr 202119:35

Summary

TLDRThis script is part of an accounting lesson focusing on fixed assets. It discusses tangible and intangible assets, their recognition, acquisition methods, and depreciation. The instructor elaborates on the criteria for recognizing fixed assets, their acquisition costs, and how to allocate costs when assets are acquired in a bundle. The script also touches on asset exchanges, self-construction, and gifts, including their tax implications according to Indonesian accounting standards (PSAK) and tax regulations (PPH and PPN).

Takeaways

🏢 The discussion continues on accounting for fixed assets, including tangible and intangible assets.
🏗️ Fixed tangible assets include buildings, vehicles, equipment, and computers, while intangible assets consist of copyrights, trademarks, patents, and goodwill.
📑 PSAK 16, revised in 2007, defines fixed assets as tangible assets ready for use or constructed for use in the company's operations, not intended for sale, and with a useful life of more than one year.
💼 The cost of acquiring fixed assets must be recognized as an asset if it is likely to generate economic benefits and can be measured reliably.
💵 The acquisition cost includes the cash or cash equivalent paid or the fair value of other consideration given to obtain an asset.
🚗 When assets are acquired as a combination, the purchase price must be allocated based on the fair value of each asset involved.
📈 The acquisition of fixed assets can be financed through installments, with the first installment including both principal and interest calculated on the total purchase price.
🔄 Fixed assets can be acquired through exchange transactions, and the value is measured based on the fair value of the assets exchanged.
🏭 Assets acquired by constructing them can be subject to VAT regulations, depending on the jurisdiction and specific tax laws.
🎁 Donations and grants received may not be subject to tax if they meet certain criteria, such as being given to a government-recognized charity or inherited by family members.

Q & A

What are tangible and intangible assets?
-Tangible assets are physical items such as buildings, vehicles, and machinery. Intangible assets include copyrights, trademarks, patents, goodwill, and so on.
What is the criteria for recognizing a fixed asset in accounting?
-A fixed asset should be recognized in accounting when it is used in the normal operations of the company, not intended for sale, and has an economic benefit lasting more than one year.
What are the costs included in the acquisition cost of a fixed asset?
-The acquisition cost includes the purchase price, direct costs such as import duties, transportation, installation, and initial restoration costs, as well as any trade discounts received.
How is the acquisition cost of a fixed asset determined when it is acquired in a lump sum with other assets?
-When a fixed asset is acquired in a lump sum, the total purchase price must be allocated to each asset based on the fair value of each asset in proportion to the total fair value.
What is the accounting treatment for the acquisition of fixed assets through installment payments?
-The accounting treatment for installment payments includes recognizing the principal and interest components of each payment, with interest calculated based on the outstanding balance at the start of each payment period.
Can a fixed asset be acquired through barter transactions? If so, how is it valued?
-Yes, a fixed asset can be acquired through barter transactions and is valued based on the fair value of the asset given in exchange or received, adjusted for any cash or cash equivalents transferred.
How are fixed assets acquired by self-construction treated in accounting?
-Fixed assets acquired by self-construction are accounted for based on the costs incurred to prepare the asset for its intended use, including materials, labor, and overheads.
What are the tax implications of acquiring fixed assets through donations or gifts according to Indonesian tax law?
-Under certain conditions, such as when the donation is received by a government-recognized entity or is inherited, the asset may not be subject to tax. Otherwise, the asset's fair market value is used to determine the tax liability.
What are the special accounting rules for fixed assets in the context of tax accounting?
-Special rules may include specific depreciation methods, tax deductions, or exemptions that differ from commercial accounting practices, as outlined in tax regulations.
How does the economic life of an asset influence its classification as a fixed asset?
-An asset is classified as a fixed asset if it is expected to provide economic benefits for more than one year. If the expected life is less than one year, it is typically classified as a current asset or an expense.
What are the key components of the initial direct costs that can be attributed to the acquisition of a fixed asset?
-The key components include the purchase price, import duties, transportation costs, installation costs, and any initial restoration costs necessary to make the asset operational.

Outlines

00:00

🏢 Accounting for Tangible Fixed Assets

The paragraph discusses the accounting treatment of tangible fixed assets, distinguishing them from intangible assets. It introduces the concept of fixed assets, such as buildings, vehicles, and production machinery, which are physically present and used in the operational process of a company. The paragraph also touches on the recognition of fixed assets, explaining when to acknowledge ownership and when not to. It mentions the economic life of assets and the need to understand the acquisition cost, which includes all costs incurred to make the asset ready for use. The paragraph references Indonesian accounting standards (PSAK), specifically PSAK Number 16 revision of 2007, which defines fixed assets as tangible assets obtained in a ready-to-use form or constructed for use in the company's operational process, not intended for sale in the normal course of business, and with an economic life of more than one year.

05:01

💼 Determining the Acquisition Cost of Fixed Assets

This section delves into the specifics of calculating the acquisition cost of fixed assets. It explains that the cost includes the purchase price and any additional costs necessary to make the asset operational, such as transportation, installation, and testing costs. The paragraph emphasizes the importance of accurately determining these costs as they form the basis for subsequent calculations of depreciation. It also mentions that costs should be capitalized if they are expected to provide economic benefits in the future and if they can be measured reliably. The discussion includes examples of costs that can be directly attributed to the acquisition, such as import costs and shipping fees, and those that might be estimated, like initial dismantling and relocation costs. The paragraph also references PSAK 16 revision 2017 for further details on allowable costs.

10:03

🏗️ Acquisition of Fixed Assets Through Purchase and Construction

The paragraph explains the process of acquiring fixed assets through purchase and self-construction. It discusses how to allocate the purchase price when assets are bought as a bundle, using the fair value proportion method to determine the cost of individual assets within the bundle. The example provided involves land and buildings, where the market value of each is used to calculate their respective acquisition costs. The paragraph also touches on the accounting treatment when assets are acquired on credit, explaining how to calculate the principal and interest for each installment payment. It highlights the need to adjust the calculation of interest based on the remaining debt after each payment. The discussion serves to illustrate the complexity of accounting for fixed assets when they are part of a larger transaction or acquired through financing.

15:04

🎁 Accounting for Donations and Self-Constructed Assets

This section covers the accounting and tax implications of acquiring fixed assets through donations, self-construction, and exchange. It discusses the tax treatment of self-constructed assets as objects subject to VAT (PPN). The paragraph also addresses the tax implications of receiving donations and gifts, explaining that they may be exempt from tax if they are received by certain entities or used for specific purposes. It provides examples, such as donating a vehicle to a government-recognized foundation, which would not be subject to tax. The discussion also includes the conditions under which assets received through inheritance or donation are considered taxable, emphasizing the importance of the relationship between the donor and the recipient and the use of the asset. The paragraph concludes by mentioning the need to value such assets at fair market value for tax purposes if they are considered taxable.

Mindmap

Keywords

💡Asset

An asset is any resource owned by an individual or a company that has value and can be converted into cash. In the context of the video, assets are discussed in relation to accounting practices, specifically fixed tangible and intangible assets. The script mentions examples such as buildings, vehicles, and equipment as tangible assets, while copyrights, trademarks, and goodwill are cited as intangible assets.

💡Fixed Assets

Fixed assets, also known as long-term assets, are tangible or intangible assets that a company uses in its operations and are not intended for sale. They are used over multiple accounting periods and include items like buildings, machinery, and intellectual property. The video script discusses how to recognize and account for fixed assets, emphasizing their role in the operational process of a company.

💡Tangible Assets

Tangible assets are physical items that have a monetary value and can be easily identified and measured. The script provides examples such as buildings and vehicles. These assets are part of the fixed assets category and are accounted for differently in financial statements due to their long-term use and value.

💡Intangible Assets

Intangible assets are non-physical assets that do not have a physical existence but have value due to their potential to provide future economic benefits. Copyrights, trademarks, and goodwill are mentioned in the script as examples. They are an important part of a company's assets and are accounted for based on specific accounting standards.

💡Depreciation

Depreciation is the process of allocating the cost of a tangible asset over its useful life. It is a method of capturing the consumption of the asset's economic benefits over time. The script discusses depreciation in the context of fixed assets, explaining how it affects the financial statements and the calculation of an asset's remaining value.

💡Recognition

Recognition in accounting refers to the process of formally recording an asset or liability in the financial statements. The script mentions that an asset should be recognized when it is probable that future economic benefits will flow to the entity and when the asset's cost can be reliably measured. This is crucial for accurately reflecting a company's financial position.

💡Acquisition Cost

Acquisition cost refers to the total amount of cash or cash equivalents paid or the fair value of other consideration given to acquire an asset. The script explains that acquisition cost includes not only the purchase price but also any costs directly attributable to bringing the asset to the point where it is ready for its intended use, such as transportation and installation costs.

💡Capitalization

Capitalization in accounting refers to the process of recording an expenditure as an asset on the balance sheet rather than expensing it on the income statement. The script discusses the importance of correctly identifying what costs can be capitalized as part of the acquisition cost of a fixed asset, as these costs will be spread out over the asset's useful life through depreciation.

💡Provision for Doubtful Accounts

A provision for doubtful accounts is an accounting estimate for potential losses due to customers' inability to pay their debts. While not explicitly mentioned in the script, the concept relates to the discussion on assets, specifically receivables, which may not be fully recoverable and thus require an allowance to reflect their true value.

💡PSAK

PSAK stands for 'Panduan Standar Akuntansi Keuangan' which translates to 'Financial Accounting Standards Guidance' in English. The script refers to PSAK No. 16, a specific accounting standard that provides guidelines on the recognition, measurement, and reporting of fixed assets. This standard is crucial for ensuring consistency and transparency in financial reporting.

💡Asset Retirement Obligations

Asset retirement obligations are liabilities associated with the eventual retirement and disposal of a tangible asset. The script touches on this concept when discussing the costs that can be included in the acquisition cost of an asset, such as the estimated costs of dismantling and restoring the asset's location after its use.

Highlights

Discussion on accounting for tangible and intangible fixed assets.

Explanation of when to recognize and not recognize fixed asset ownership.

Introduction to the concept of fixed asset recognition according to PSAK No. 16 revision 2007.

Fixed assets must be used in company operations, not intended for sale, and have a useful life of more than one year.

Fixed asset acquisition costs include the price, transport costs, installation costs, and testing costs.

The importance of accurately determining the acquisition cost for depreciation calculation.

PSAK 16 revision 2017 details which costs can be categorized as part of the acquisition cost.

Methods of acquiring fixed assets, including purchase, exchange, self-construction, donation, and inheritance.

Procedure for allocating the purchase price when assets are acquired in a bundle.

Example calculation of how to allocate the cost of acquiring land and building as a combined asset.

Fixed assets can also be acquired through installment payments, with attention to contract terms.

Explanation of how to calculate installment payments, including principal and interest.

Fixed assets acquired through exchange should be measured at the fair value of the assets exchanged.

Fixed assets acquired by self-construction are subject to VAT regulations.

Tax implications of acquiring fixed assets through donation, inheritance, or transfer.

Conditions under which donated or inherited assets may not be subject to tax.

Scenarios where assets received as donations or inheritances are considered taxable.

The necessity of valuing gifted assets at fair market value for tax calculation purposes.