AKUNTANSI LEASING - Akuntansi Bagi Lessor (Pemberi Sewa)

Summary

This video provides a comprehensive overview of lease accounting for lessors, focusing on how to calculate lease payments, classify leases, and record them in financial statements. It covers key concepts such as operating leases, finance leases (direct financing and sales-type), and how to determine the appropriate lease classification based on conditions like ownership transfer or purchase options. The video also walks through detailed journal entries, interest adjustments, and special accounting issues such as residual values and asset disposal. The content is designed for students and professionals studying intermediate accounting, with practical examples to illustrate each concept.

Takeaways

• 😀 Leasing accounting for lessors involves determining the lease payment based on the desired rate of return (e.g., 10%) and the present value of the leased asset minus any residual value.
• 😀 A lessor calculates the annual lease payment using the present value of an annuity factor based on the lease term and interest rate. For example, with a 5-year lease at a 10% return, the factor is 4.16986.
• 😀 The two main types of leases for lessors are Operating Leases and Finance Leases, with Finance Leases further divided into Direct Financing Leases and Sales-Type Leases.
• 😀 Finance Lease classifications depend on whether the lessor gains a profit or not. Sales-Type Leases involve profit, while Direct Financing Leases do not.
• 😀 For lessors, if a lease agreement transfers ownership, it's classified as a Finance Lease. If not, further tests are applied (e.g., lease term, present value of lease payments).
• 😀 In accounting for a Direct Financing Lease, the lessor records the lease receivable and depreciates the leased asset in a manner consistent with typical asset depreciation methods.
• 😀 The lessor must record interest income from the lease based on the lease receivable, with periodic adjustments to reflect the interest earned during the term of the lease.
• 😀 Payment for the lease is split into principal and interest. The lessor receives annual payments that include both components, and these must be carefully tracked in financial records.
• 😀 In the lessor's books, at the beginning of the lease, the leased asset is removed from the balance sheet, and a lease receivable is recorded. Payments received reduce the receivable and increase cash.
• 😀 The lessor must also track and report any taxes related to the lease payments (e.g., vehicle tax in the case of a car lease), including journal entries to account for tax liabilities.

Q & A

What is the main topic of the video?

The video focuses on financial accounting for leases, specifically the accounting for lessors (the entity providing the lease) under the Intermediate Accounting course.

How does a lessor determine the amount of lease payment?

A lessor determines the lease payment based on the desired rate of return (e.g., 10%) and the fair value of the leased asset. For example, if the fair value of the asset is IDR 1 billion, and the residual value is 0, the lease payment is calculated using the present value of an annuity factor.

What is the formula used to calculate the annual lease payment for the lessor?

The annual lease payment is calculated by dividing the fair value of the leased asset by the present value factor for an annuity due. In this example, the payment comes out to IDR 239.8 million.

What are the two main types of leases for a lessor?

The two main types of leases for a lessor are operating leases and finance leases (also known as capital leases). Finance leases are further divided into direct financing leases and sales-type leases.

What differentiates a direct financing lease from a sales-type lease?

The key difference is that a sales-type lease involves a profit or loss for the lessor, as it includes the sale of the asset. In a direct financing lease, there is no profit or loss at the inception of the lease.

What criteria determine whether a lease is classified as a finance lease or an operating lease?

A lease is classified as a finance lease if it meets any of the following criteria: transfer of ownership, an option to purchase at a bargain price, lease term equal to the asset’s economic life, or the present value of lease payments equals or exceeds the fair value of the asset.

What is the journal entry for a lessor at the start of the lease agreement?

At the start of the lease, the lessor records a debit to lease receivable (the present value of the lease payments) and a credit to the leased asset. For example, a journal entry could be 'Lease Receivable Debit 1 billion, Leased Asset Credit 1 billion'.

How does a lessor account for interest on a lease during the lease term?

The lessor recognizes interest income each year, which is calculated on the remaining lease receivable balance. The interest is recorded as income, and the lease receivable balance is reduced by the principal portion of the lease payment.

How are payments and taxes treated in the lease accounting for the lessor?

Payments from the lessee are recorded as lease receivables. Taxes related to the lease (such as vehicle tax in the example) are recorded separately as liabilities until paid.

What happens at the end of the lease term if the lessee buys the asset?

If the lessee buys the leased asset at the end of the lease term, the transaction is recorded as a sale. The lessor recognizes the gain or loss on disposal of the asset, depending on the sale price relative to the asset's book value.