PSAK 55 : FINANCIAL INSTRUMENTS, RECOGNITION, & MEASUREMENT
Stephanni A. Rubyanti
Satrio Bayu Pandowo
Muhammad Rizky Pratama
Financial instrument is any contract that adds to the value of the entity's financial assets and financial liabilities or equity instrument of another entity. Today the financial instrument has been growing by leaps and bounds, not only used by financial institutions Bank, but also by non-bank financial institutions. Therefore, in order to harmonize accounting standards specifically for the Indonesian banking sector and in line with efforts to improve market discipline, Bank Indonesia initiated a partnership with the Indonesian Institute of Accountants (IAI) to develop accounting standards adopted IAS 39 and IAS 32 on financial instruments. The results of the adoption of IAS 32 are PSAK 50 and PSAK 60 which governs the presentation and disclosures of financial instruments. While the results of the adoption of IAS 39 are PSAK 55 which governs the recognition and measurement of financial instruments. This paper focuses on the recognition and measurement of financial instruments based on PSAK 55 and their implementation and application in the business world.
EXPLANATION OF PSAK 55
Derivative is a financial instrument or other contract that included in the scope of this Statement (see paragraphs 2-7) with the following of three characteristics * The value is changed as a result of changes in the variables that have been determined (often referred to as underlying, such as: the interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or index of interest rates, credit rating or credit index, or variable other that have been determined. For non-financial variable, the variable is not related to the parties in the contract * does not require initial net investment or net require an initial investment in a smaller amount compared to the amount needed to other similar contracts that are expected to generate similar effects as a result of changes in market factors, and * completed on a specific date in the future
Financial assets or financial liabilities at fair value through profit or loss are financial assets or financial liabilities that meet one of the following conditions: * Classified as group for trading, if :
* Acquired or owned to the purpose of selling or repurchasing in the near term. * A part of certain financial instruments portfolio that are managed together and there is evidence of a transaction profit taking in the short term to date. * A derivative (except for a derivative which is financial guarantee contract or as a hedging instrument that has determined and effective).
* At the time of initial recognition has been established by the entity to be measured at fair value through profit or loss. An entity may use this designation only if it fulfills paragraph 11, or when to do so will generate more relevant information because : * Eliminate or significantly reduce the measurement inconsistency that can arise from measuring assets or liabilities or recognition of gains and losses because the use of different basics; or * Group of financial assets, financial liabilities or both is managed and its performance is evaluated based on the fair value.
Investments held to maturity are non-derivative financial assets with fixed or determinable payments and maturities have been established, and the entity has the positive intention and ability to hold the asset until maturity, except: a. Investment before initial recognition designates as financial assets measured at fair value through profit or loss. b. Investments that fulfill the definition of loans and receivables.
An entity should not classify financial assets as until held to maturity, if in the current year or within the...
Bibliography: Dewan Standar Akuntansi Keuangan. (n.d.). Pernyataan Standar Akuntansi Keuangan No. 55 Revisi 2009.
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