Akuntansi Penjualan Konsinyasi 1

Summary

In this educational video, Muhammad Hafid from Universitas Negeri Semarang explores the concept of consignment sales accounting. He explains the basic definition and benefits for both the consignor and the consignee, along with the distinct accounting techniques used in consignment sales. The video highlights how consignment differs from regular sales and how it offers a cost-effective method for business owners to expand their market reach. Additionally, two methods of recording consignment transactions are discussed: separate and combined accounting. Real-life examples are provided to clarify the practical applications of these concepts in the accounting field.

Takeaways

• 😀 Penjualan konsinyasi involves the consigner (owner of goods) entrusting goods to a commission agent (salesperson) to sell on their behalf, with ownership of the goods remaining with the consigner until sold.
• 😀 The consigner benefits from having a wider marketing network at a lower cost compared to operating its own outlets, enabling more efficient product promotion.
• 😀 One major advantage for the consigner is maintaining control over the pricing and marketing of their products, which can prevent underpricing by agents.
• 😀 A disadvantage for the consigner is the risk of goods being damaged or poorly maintained by the commission agent if they are not trustworthy.
• 😀 For the commission agent, a key benefit is the lack of risk for unsold or damaged goods, as these remain the responsibility of the consigner.
• 😀 Commission agents do not need to invest in inventory, as goods are consigned to them, which helps avoid upfront capital costs.
• 😀 The commission agent earns a commission from the sales, typically a fixed percentage of the sale price, which is agreed upon between the consigner and agent.
• 😀 Accounting for consignment sales can be done using two main methods: separate recording (where consignment sales are tracked independently) or combined recording (where consignment sales are treated like regular sales).
• 😀 In separate recording, a new account, 'commissioned goods,' is created for each consignment transaction, and the sales and liabilities are clearly tracked separately.
• 😀 Under combined recording, consignment sales are treated like regular sales, meaning the agent's sales are recorded in the same account as the sales of their own inventory, simplifying the accounting process but making it harder to track consignment-specific information.

Q & A

What is consignment sales?

Consignment sales is a method where the owner of goods (consignor) delivers goods to a third party (commission agent) to sell on their behalf. The consignor retains ownership until the goods are sold.

How does consignment sales differ from regular sales?

In regular sales, ownership of goods transfers immediately after the transaction. In consignment sales, ownership remains with the consignor until the goods are sold by the commission agent.

Who are the two main parties involved in consignment sales?

The two main parties are the consignor (owner of the goods) and the commission agent (the party selling the goods on behalf of the consignor).

What are the advantages for the consignor in consignment sales?

The consignor gains wider market access at a lower cost, can introduce new products to the market more effectively, and can maintain control over the pricing of goods.

What are the risks or disadvantages for the consignor in consignment sales?

The consignor risks the goods being damaged, spoiled, or unsold, and the commission agent may not handle the goods properly or be trustworthy.

What benefits does the commission agent receive from consignment sales?

The commission agent doesn't bear the risk of unsold goods or damaged stock, and they earn a commission on sales without the need for upfront investment in stock.

How is consignment sales recorded in accounting?

There are two methods: 1) The 'separate account' method, where a new account, such as 'Consignment Goods', is created for each consignment transaction. 2) The 'non-separate account' method, where consignment sales are treated like regular sales in the general accounts.

How does the 'separate account' method of accounting work?

Under this method, the commission agent creates a separate account for each consignment agreement. The account is debited for all expenses and credited for the sales proceeds, with the balance representing the liability of the commission agent to the consignor.

What happens when the 'non-separate account' method is used for consignment sales?

In the 'non-separate account' method, consignment sales are recorded directly in the regular sales accounts. The cost of goods sold is recognized only when the goods are sold by the commission agent.

Can you explain the accounting entries for a commission agent selling goods on consignment?

For the commission agent, when goods are sold on consignment, the sales proceeds are recorded as 'sales revenue' and the commission earned is credited as income. The agent's expenses, such as packaging costs, are also recorded and offset against the consignor's liability.