Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 45 views

    Dillutive Securities Earnings Per Shares

    Uploaded by

    RAden Altaf Wibowo Putra
    1) Convertible debt is accounted for as a combination of liability and equity using the with-and-without method to separate the components. 2) Earnings per share (EPS) calculations depend on the capital structure, with either a simple or complex structure. A complex structure includes dilutive securities like convertible shares/bonds. 3) For complex structures, diluted EPS is calculated considering the impact of converting dilutive securities to common shares, adding to net income and shares outstanding. Securities are ranked by dilution impact and converted sequentially until dilution is immaterial.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Dillutive Securities Earnings Per Shares

    Uploaded by

    RAden Altaf Wibowo Putra
    45 views10 pages
    1) Convertible debt is accounted for as a combination of liability and equity using the with-and-without method to separate the components. 2) Earnings per share (EPS) calculations depend on the capital structure, with either a simple or complex structure. A complex structure includes dilutive securities like convertible shares/bonds. 3) For complex structures, diluted EPS is calculated considering the impact of converting dilutive securities to common shares, adding to net income and shares outstanding. Securities are ranked by dilution impact and converted sequentially until dilution is immaterial.

    Original Title

    CHAPTER 16

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    1) Convertible debt is accounted for as a combination of liability and equity using the with-and-without method to separate the components. 2) Earnings per share (EPS) calculations depend on the capital structure, with either a simple or complex structure. A complex structure includes dilutive securities like convertible shares/bonds. 3) For complex structures, diluted EPS is calculated considering the impact of converting dilutive securities to common shares, adding to net income and shares outstanding. Securities are ranked by dilution impact and converted sequentially until dilution is immaterial.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    45 views10 pages

    Dillutive Securities Earnings Per Shares

    Uploaded by

    RAden Altaf Wibowo Putra
    1) Convertible debt is accounted for as a combination of liability and equity using the with-and-without method to separate the components. 2) Earnings per share (EPS) calculations depend on the capital structure, with either a simple or complex structure. A complex structure includes dilutive securities like convertible shares/bonds. 3) For complex structures, diluted EPS is calculated considering the impact of converting dilutive securities to common shares, adding to net income and shares outstanding. Securities are ranked by dilution impact and converted sequentially until dilution is immaterial.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 10

    CHAPTER 16

    DILLUTIVE SECURITIES
    &

    EARNINGS PER SHARES


    DILLUTIVE SECURITIES AND COMPENSATION PLAN

    Dillutive securities: CONVERTIBLE DEBT


    Accounting for convertible debt  campuran liabilitas dan
    ekuitas  harus dipisahkan
     Separated into liability and equity components  with-
    and-without method 

    Equity components (without the ekuity components)


    =
    Fair value of convertible debt at date of issuance (with both
    debt and equity components)
    –
    Fair value of liability components at date of issuance, based
    on present value of cash flows
    Implementasi
     Tentukan total nilai wajar hutang konvertibel, yaitu = total
    penerimaan dari emisi surat hutang konvertible
     Tentukan nilai wajar hutang, yaitu = nilai tunai aliran kas
    (bunga dan pelunasan)
     Tentukan komponen ekuitas, yaitu = selisih  dicatat ke Agio
    modal saham

    AKUNTANSI
    1.Issuance of convertible debt/bonds

    2.Settlement of convertible bonds:

    a.repurchase at maturity -> nilai terbawa = nilai


    nomina

    b.conversion at maturity

    c. conversion before maturity

    d.repurchase before maturity


    - Selisih antara imbalan dan nilai terbawa diakui -
    -sebagai keuntungan atau kerugian.
    - Imbalan untuk komponen ekuitas diperlakukan
    sebagai pengurang ekuitas

    Induced conversion
    Tambahan pembayaran (sweetener) diperlakukan
    sebagai biaya periode ybs.

    Dilutive securities: CONVERTIBLE PREFERENCE


    SHARES (SAHAM PREFEREN KONVERTIBEL)
    - Tidak termasuk komponen campuran karena
    hanya unsur ekuitas.
    - Pembelian sebelum jatuh tempo tidak
    mengakibatkan keuntungan atau kerugian.

    Dilutive securities: SHARE (STOCK) WARRANTS


    The issuance of warrant
    1. Issued with other securities
    Long-term option
    Equity component
    2. Right to subscribe to additional shares
    Short duration
    Memorandum only
    3. Share compensation plan
     The value of compensation
    o Intrisic value method
    o Fair value method
    Accounting issues:
     Determining expense
     Allocating compensation expense 
    service period: the vesting period =
    benefited period, the time between the
    grant date and the vesting date

    Restricted Shares

    EARNINGS PER SHARES


    (untuk saham biasa)
    Perhitungan laba per lembar Tergantung
    pada struktur modal (2 alternatif)
    I.Simple capital structure : apabila tidak
    terdapat diluted securities Terdapat
    hanya 1 EPS
    EPS = (Net Income – Preference Dividend) /
    (Weighted average number of shares
    outstanding)

    Apabila jumlah saham beredar mengalami


    perubahan:
    -emisi saham,
    -pembelian ST,
    -penjualan ST,
    -pembagian diven saham,
    - pemecahan saham
     faktor-faktor yang mempengaruhi rata-
    rata saham beredar:
    - Saham beredar awal periode
    - Issuance & purchase of shares tidak
    perlu restatement
    - Stock dividend and stock split 
    restatement (1 lembar saham sebelum
    dividen saham dan pemecahan saham
    = ? lembar saham saham setelah dividen
    saham dan pemecahan saham)

    Perhitungan saham beredar rata-rata


    1. Tanpa restatemen (penyesuaian)
    Contoh
    Saham beredar per 1 Januari = 300.000 lb
    Transaksi modal selama 1 tahun
    1/3 Emisi saham sebanyak 150.000 lb
    1/5 Pembelian saham trisuri 60.000 lb
    1/7 Penjualan 30.000 lembar saham trisuri
    1/10 penjualan 15.000 lembar saham trisuri

    Hitunglah saham beredar rata-rata!

    Tanggal Periode Saham Rata-rata


    (bulan) beredar
    1/1-1/3 2 300.000 50.000
    1/3-1/5 2 450.000 75.000
    1/5-1/7 2 390.000 65.000
    1/7-1/10 3 420.000 105.000
    1/10-31/12 3 435.000 145.000
    1/1-31/12 12 440.000

    2. Restatement
    a) Dividen saham
    misalnya 20% 1 lb saham lama ekuivalen dg 1,2
    lembar saham baru  reatatemen 120%.

    b)Pemecahaan saham
    misalnya pemecahan 1: 4  1 lembar saham sebelum
    pemecahan = 4 lembar saham setelah pemecahan
    penyesuaian 4 kali atau 400%

    Contoh
    Modal saham biasa pada awal tahun = 40.000 lembar
    Selama tahun tersebut terjadi:
    - Pembagian dividen saham sebesar 25%
    - Pemecahan saham, yaitu setiap lembar dipecah menjadi
    4
    Pertanyaan
    a)Berapa lembar saham beredar pada akhir tahun?
    b)berapa rata-rata saham beredar
    Jawab

    a) Saham beredar
    Pada awal periode = 40.000
    Pembagian deviden saham 25% = 10.000
    Setelah pembagian deviden saham = 50.000
    Pemecahan 1:4 maka saham beredar menjadi
    50.000*4 = 200.000
    Atau =40.000*125%*4 = 200.000

    b)Rata-rata saham beredar

    Restatement untuk berapa lama?


    - laporan keuangan single (tidak dibandingkan dengan
    tahun atau tahun sebelumnya)  restatemen untuk 1
    tahun.
    - Laporan keuangan diperbandingkan  restatement
    menyangkut ke semua periode yang dibandingkan.
    E16-16

    Complex capital structure


    Yaitu apabila terdapat “potential common
    stock atau dilluted securities” seperti
    convertible preferred stock, convertible
    bond, stock right/warrant

    Terdapat 2 macam EPS:


    - Basic EPS = (laba –dividen saham
    preferen) / rata-rata saham biasa beredar

    - Diluted EPS = Basik EPS – dampak


    convertible securitas

    Prosedur
    1)Menghitung pengaruh masing-masing sekuritas deluted
    (seandainya dikonversi ke saham biasa), yaitu”
    - Covertible bonds  biaya bunga berkurang, laba
    bertambah, PPh bertambah, laba bersih bertambah, hak
    pemegang saham biasa bertambah, jumlah beredar
    bertambah.
    - Convertible PS  laba tetap, laba hak SP berkurang, laba
    hak SB bertambah, saham beredar bertambah.
    - SW (harga beli dg menggunakan SW  harga tanpa SW)
    2)Menyusun ranking dari yang efeknya terkecil ke yang
    terbesar (paling diluted)
    3)Menghitung kembali dari yg paling diluted. Perhitungan
    dihentikan apabila sdh tdk berpengaruh atau sudah habis.

    Contoh halaman 856 atau 812 (Appendix 16B)


    TUGAS: P16-6 DAN P 16-7

    Sekuritas diluted:
     Warrant menambah saham beredar sebesar Jumlah opsi
    saham x harga dg opsi / harga pasar, tanpa menambah
    laba
     Convertible Prefered shares  menambah laba utk
    pemegang saham biasa dan jumlah saham
     Convertible bonds  menambah jumlah laba utk
    pemegang saham biasa (= bunga – PPh) dan jumlah saham

    You might also like