PSAK 48 Penurunan Nilai Aset

Summary

This presentation explains PSK 48 (Asset Impairment), an accounting standard that addresses how to recognize and measure asset impairment. It covers key concepts like recoverable amounts, asset components, and indicators of impairment. The presenter details the process for assessing impairment, including evaluating both external and internal sources of information. Furthermore, the video discusses impairment reversals, the treatment of goodwill, and required disclosures. The aim is to help viewers understand the procedures for asset impairment recognition and reporting in financial statements under Indonesian accounting standards.

Takeaways

• 😀 PSK 48 (Impairment of Assets) was issued by the Indonesian Financial Accounting Standards Board (DSAK) on April 29, 2014, to regulate the accounting treatment for asset impairment.
• 😀 Corporate assets, or 'aset korporat', are assets that do not generate cash flows independently but contribute to future cash flows, such as office buildings or research facilities.
• 😀 Impairment loss occurs when the carrying amount of an asset exceeds its recoverable amount, and entities must assess whether assets may be impaired.
• 😀 Key definitions include: 'nilai pakai' (value in use) refers to the present value of expected future cash flows from an asset; 'nilai wajar' (fair value) is the market price minus disposal costs.
• 😀 The recoverable amount of an asset is the higher of its fair value minus disposal costs or its value in use.
• 😀 Indicators of impairment may come from external sources (e.g., market value decline) or internal sources (e.g., physical damage or poor performance).
• 😀 For assets with indefinite useful lives, impairment must be tested annually, even if no impairment indicators exist.
• 😀 If impairment loss is recognized, it must be measured by estimating the recoverable amount using future cash flow projections and applying an appropriate discount rate.
• 😀 Reversal of impairment loss is possible when conditions improve. For assets other than goodwill, the reversal amount cannot exceed the original carrying amount.
• 😀 Goodwill impairment losses cannot be reversed in future periods, even if there is an increase in recoverable amount.
• 😀 Financial statements must disclose the amount of impairment losses recognized, any reversals, and the impairment related to revalued assets, providing transparency in asset valuation.

Q & A

What is PSK 48 and when was it officially adopted?

PSK 48 refers to the Financial Accounting Standards related to impairment of assets, which was adopted by the Financial Accounting Standards Board on April 29, 2014. The adjustments were implemented starting from December 22, 2009.

What are corporate assets as defined in PSK 48?

Corporate assets, as defined in PSK 48, are assets other than goodwill that contribute to future cash flows. These assets may include units generating cash flow and are identified as part of the overall corporate structure.

What is the difference between 'fair value' and 'value in use' of an asset?

'Fair value' is the price that would be received to sell an asset in an orderly transaction between market participants. On the other hand, 'value in use' refers to the present value of future cash flows expected from using the asset or cash-generating unit.

What is meant by 'recoverable amount' in PSK 48?

The recoverable amount is the higher of an asset's fair value less disposal costs or its value in use. This is the amount that can be recovered from an asset or cash-generating unit.

How is the impairment of an asset identified according to PSK 48?

An asset may experience impairment if its carrying amount exceeds its recoverable amount. Entities are required to formally estimate the recoverable amount when there is an indication of impairment.

What are the external and internal indicators to assess asset impairment?

External indicators include significant declines in market value or adverse economic conditions, while internal indicators could involve physical damage to the asset or internal reports showing worse-than-expected performance.

What is the role of 'goodwill' in impairment testing under PSK 48?

Goodwill acquired in a business combination is tested for impairment at the cash-generating unit level. Impairment of goodwill cannot be reversed in future periods, unlike other assets.

How is the impairment of a cash-generating unit tested?

If an asset within a cash-generating unit is impaired, the recoverable amount for that unit is estimated. If the carrying amount of the unit exceeds its recoverable amount, the impairment loss is recognized.

Can impairment losses be reversed in future periods?

Impairment losses for assets other than goodwill can be reversed if there is an indication that the impairment no longer exists or has decreased. However, impairment losses for goodwill cannot be reversed.

What is the purpose of recognizing and disclosing impairment losses in financial statements?

Recognizing impairment losses ensures that assets are reported at amounts that do not exceed their recoverable value. This information is disclosed in the financial statements to provide transparency to users about the potential reduction in the value of assets.