Embed Size (px)
Citation preview
ACCOUNTING IMPLEMENTATION ANALYSIS OF
REVENUE AT PT. ROBERT BOSCH ACCORDING TO
PSAK NO.23
SKRIPSI
By
Widiasih Mumpuni
008201400109
Presented to
The Faculty of Business, President University
In Partial Fulfillment of the Requirements for
Bachelor Degree in Business, Major in Accounting
President University
Cikarang Baru –Bekasi
Indonesia
2018
iii
CONSENT FOR INTELLECTUAL PROPERTY RIGHT
Title of skripsi: Accounting Implementation Analysis of Revenue at PT.
Robert Bosch According to PSAK No. 23
1. The Author hereby assigns to President University the copyright to the
Contribution named above whereby the University shall have the exclusive
right to publish the Contribution and translations of it wholly or in part
throughout the world during the full team of copyright including renewals
and extensions and all subsidiary rights.
2. The Author retains the right to re-publish the reprint version of the
Contribution without charge and subject only to notifying the University of
the intent to do so and to ensuring that the publication by the University is
properly credited and that the relevant copyright notice is repeated verbatim.
3. The Author retains moral and all proprietary rights other than copyright, such
as patent and trademark rights to any process or procedure described in the
Contribution.
4. The Author guarantees that the Contribution is original, has not been
published previously, is not under consideration for publication elsewhere
and that any necessary permission to quote or reproduce illustrations from
another source has been obtained (a copy of any such permission should be
sent with this form).
5. The Author guarantees that the Contribution contains no violation of any
existing copyright or other third-party right or material of an obscene,
17%SIMILARITY INDEX
14%INTERNET SOURCES
2%PUBLICATIONS
11%STUDENT PAPERS
1 3%
2 1%
3 1%
4 1%
5 1%
6 <1%
7 <1%
8 <1%
9
PSAKORIGINALITY REPORT
PRIMARY SOURCES
assets.bosch.comInternet Source
Submitted to University of AdelaideStudent Paper
Submitted to Academic Library ConsortiumStudent Paper
www.ukessays.comInternet Source
www.bosch.comInternet Source
www.docs.hss.ed.ac.ukInternet Source
Submitted to Washington and JeffersonCollegeStudent Paper
www.pacta.frInternet Source
Submitted to Universiti Teknikal Malaysia
<1%
10 <1%
11 <1%
12 <1%
13 <1%
14 <1%
15 <1%
16 <1%
17 <1%
18 <1%
19 <1%
MelakaStudent Paper
www.nbhkdz.comInternet Source
documents.mxInternet Source
www.coursehero.comInternet Source
www.boschindia.comInternet Source
Submitted to Universitas Negeri JakartaStudent Paper
Submitted to City University College of Scienceand TechnologyStudent Paper
www.cengage.comInternet Source
eur-lex.europa.euInternet Source
Submitted to Universiti Kebangsaan MalaysiaStudent Paper
digilib.mercubuana.ac.idInternet Source
Submitted to Universiti Tenaga Nasional
20 <1%
21 <1%
22 <1%
23 <1%
24 <1%
25 <1%
26 <1%
27 <1%
28 <1%
29 <1%
Student Paper
Submitted to American IntercontinentalUniversity OnlineStudent Paper
Submitted to Southern Polytechnic StateUniversityStudent Paper
Submitted to Universitas MuhammadiyahSurakartaStudent Paper
Submitted to University of SouthamptonStudent Paper
Submitted to University of Central England inBirminghamStudent Paper
www.inc.comInternet Source
Accounting, Auditing & Accountability Journal,Volume 23, Issue 6 (2010-08-07)Publicat ion
es.scribd.comInternet Source
www.ticker.comInternet Source
30 <1%
31 <1%
32 <1%
33 <1%
34 <1%
35 <1%
36 <1%
37 <1%
38 <1%
39 <1%
40 <1%
41 <1%
www.pansa.plInternet Source
Submitted to Cardean Learning GroupStudent Paper
Submitted to Open University MalaysiaStudent Paper
Submitted to University of Surrey RoehamptonStudent Paper
Submitted to Binus University InternationalStudent Paper
Submitted to Central Queensland UniversityStudent Paper
digilib.unimed.ac.idInternet Source
www.bosch.com.myInternet Source
dlf.inInternet Source
www.ehow.comInternet Source
repository.unand.ac.idInternet Source
calhoun.nps.eduInternet Source
42 <1%
43 <1%
44 <1%
45 <1%
46 <1%
47 <1%
48 <1%
49 <1%
50 <1%
www.ijsrp.orgInternet Source
www.westernzagros.comInternet Source
Hady Efendy, Jahani Nurhanifa."DEVELOPING OF ENTREPRENEURIALSPIRIT IN THE ERA OF ASEAN ECONOMICCOMMUNITY IN VOCATIONAL HIGHSCHOOL", International Journal of Learningand Development, 2017Publicat ion
webforms.ey.comInternet Source
annual-report.bosch.comInternet Source
core.ac.ukInternet Source
en.gnb.plInternet Source
bestjetsblog.iabe.infoInternet Source
"8-K: Castmor Resources Ltd.", EDGAR Online-8-K Glimpse, June 19 2012 IssuePublicat ion
Exclude quotes Of f
Exclude bibliography Of f
Exclude matches Of f
xi
TABLE OF CONTENTS
PANEL OF EXAMINERS APPROVAL SHEET ................................................... i
CONSENT FOR INTELLECTUAL PROPERTY RIGHT ................................... ii
DECLARATION OF ORIGINALITY .................................................................. iv
PLAGIARISM DOCUMENTS ............................................................................... v
TABLE OF CONTENTS ....................................................................................... xi
ABSTRACT ........................................................................................................... xii
INTISARI ............................................................................................................ xiiii
CHAPTER I: INTRODUCTION ............................................................................ 1
1.1 Background ...................................................................................................... 1
1.2 Problem Identification ...................................................................................... 5
1.3 Research Objective ........................................................................................... 6
1.4 Research Contribution ...................................................................................... 6
1.5 Research Organization...................................................................................... 7
CHAPTER II: LITERATURE REVIEW............................................................... 9
2.1 Literature Review ............................................................................................. 9
2.1.1 Revenue Recognition ............................................................................ 14
2.1.2 Revenue Measurement .......................................................................... 16
2.2 Research Framework ...................................................................................... 19
CHAPTER III: METHODOLOGY ...................................................................... 20
3.1 Research Objective ......................................................................................... 20
3.2 Data Collection .............................................................................................. 21
3.3 Technique of Data Analysis ............................................................................ 22
3.4 Company Profile ............................................................................................ 23
CHAPTER IV: DATA ANALYSIS ...................................................................... 29
4.1 Transaction Analysis - Automotive Aftermarket ............................................. 29
4.2 Transaction Analysis - Power Tools ............................................................... 33
4.3 Transaction Analysis - Security System .......................................................... 37
CHAPTER V: CONCLUSION AND RECOMMENDATION ............................ 42
REFERENCES ...................................................................................................... 44
APPENDICES ....................................................................................................... 47
xii
ABSTRACT
Revenue is an important component in presenting information in the income
statement. A major issue in revenue is that it is necessary to recognize the revenue at
the right time, and the recognized amount also must be measured precisely and
accurately to prevent errors in the information presented as well as in decision
making. This research aims to know whether the recognition and measurement
method of revenue according to PSAK No. 23 have been applied by PT. Robert Bosch.
The research is a qualitative research using primary data and secondary data. PT.
Robert Bosch applied accrual basis method which is revenue is recognized at the time
of the transactions even though the cash has not been received. Moreover, revenue
measurement is based on the fair value of the benefits received or to be received by
the company.
Keywords: PSAK 23, revenue, PT. Robert Bosch, recognition, measurement.
xiii
INTISARI
Pendapatan merupakan komponen penting dalam menyajikan informasi
dalam laporan laba rugi. Masalah utama dalam pencatatan dan pengakuan
pendapatan adalah bahwa perlu untuk mengenali pendapatan pada waktu yang tepat,
dan jumlah yang diakui juga harus dihitung secara tepat dan akurat untuk mencegah
kesalahan dalam informasi yang disajikan serta dalam pengambilan keputusan.
Penelitian ini bertujuan untuk mengetahui apakah metode pengakuan dan
pengukuran pendapatan yang diterapkan di PT. Robert Bosch telah sesuai dengan
peraturan dalam PSAK No. 23. Penelitian ini merupakan penelitian kualitatif dengan
menggunakan data primer dan data sekunder. PT. Robert Bosch menerapkan metode
akrual basis yaitu mencatat pendapatan pada saat transaksi meskipun kas belum
diterima. Selain itu, pengukuran pendapatan didasarkan pada nilai wajar dari
manfaat yang diterima atau akan diterima oleh perusahaan.
Kata kunci: PSAK 23, pendapatan, PT. Robert Bosch, pengukuran, pengakuan.
1
CHAPTER I
INTRODUCTION
1.1 Background
Developing organizations nowadays have two purposes which are profit
organization that aims to maximize the revenue in order to strengthen the
company’s operation, and non-profit organization which aim primarily not just for
profit but to provide services to the society through the services provided. There
are three types of companies that operate to generate profits such as
manufacturing company that is changing the raw materials into the finished goods
that will be sold to the customer, trading company that sells the product to the
customer without producing/manufacturing its own goods to be sold and service
company that provide their services (invisible products). Every company that aims
to gain profit, will continue to maintain and issue a number of financial statements
that summarize its operations for a certain time as well as certain details of the
company’s assets and debt position at a given moment. Based on the financial
statements that have been made by the company, then the users which have the
need to easily see the financial position and job performance that has been
achieved by the company will make it as a basis of decision making in the
economic field. Therefore, all of the organizations especially for profit company,
need an accounting system to summarizes their operations and as the details of the
organization's assets and debt position at a given moment.
2
According to American Institute of Certified Public Accountant (1966),
accounting is the art of recording, classifying, and summarizing in a significant
manner and in-terms of money, transactions and events which are in part at least
of a financial character and interpreting the results thereof. Hanne et al. (2010)
emphasize that accounting is not a phenomenon that occurs naturally, it is a
human creation. Here, accountants are actively creating and justifying accounting
as we find it in the real world.
Accounting process is a process in generating financial statement as an
output. The companies prepare financial statements from the summarized
accounting data that consist of five types namely, income statement, retained
earnings statements, balance sheet report, cash flows, and comprehensive income
statements (Weygandt et al. 2015). The income statement is the main accounting
report for each company. It involves a relatively large number of transactions,
from the beginning of the accounting period to the end of period. Most of the
financial statement’s users considered the net profit as a bottom line which is
plays a large role in ratio analysis and financial statement analysis and it will be
seen by shareholder because it is the source of compensation for them. One of the
most important components in generating profit is revenue. If the income is higher
than the cost, then the company makes profit. But if the company is in the
opposite condition, which is income is lower than the cost that has been charged
then the company suffered losses.
3
A statement of financial position is not intended to indicate the value of
the business enterprise but, together with the financial statements and other
information, it should provide the useful information for those who desire to make
their own estimates or assess the financial soundness in term of financial risk.
The income statement measures the extent to which a company's business
activities are successful. This report describes the performance of a business on
the management of resources owned as a picture of progress or setbacks of the
company as reflected in the level of profitability achieved. The elements of the
income statement are generated by revenues, expenses, gains and losses.
Revenues constitute an inflow from the sale of goods or service or other ongoing
operational activity in the company within a period. While the expense is the
outflow from the use of assets and the fulfillment of obligations in producing
goods or services or in carrying out other operational activities that take place
within a company in a certain period (SFAC No. 6).
Revenues under PSAK No. 23 (revised December 2014) refers to “the
increasing in economic benefits during the accounting period in the form of
inflows or increases in assets or decreases of liabilities that result in increases in
equity, which is not derived from the contribution of the investor”. Revenue here
covers only the gross inflows of economic benefits received and accepted by the
entity for itself. Therefore, it is necessary to recognize and measure income in
earning revenue.
4
Recognition and measurement of revenue become a problem in order to
earn revenue. Recognition is a time when a transaction should be recognized as
revenue. Once recognized as revenue, the company needs to measure how much
should be recognized from each transaction within an accounting period.
Recognition and revenue measurement issues are interrelated. This problem will
always arise when there is an income-related transaction. Recognition needs to be
made at the right time for an income-generating economic event. The amount of
recognized revenue must also be measured with certainty.
The determination of revenue requires a well-record and consistently from
year to year. Income determination should be known when it is recognized as
revenue. Revenue that recognized when cash is received from customer called
cash basis, and may also be recognized at the time of the event or commonly
referred to accrual basis.
Therefore, a guideline or standard is required in recording revenue
determination so that the financial statements can be presented appropriately and
fairly. The IAI (Indonesian Institute of Accountants) has issued a standard or
guidance on October 1, 1994 on the preparation of financial statements including
the revenue in Accounting Standards (PSAK) no. 23 revised 2014.
PT. Robert Bosch is a global supplier of technology and service company
which has its parent company in Stuttgart, Germany. PT. Robert Bosch operates
four business sectors (Mobility Solutions, Consumer Goods, Industrial
Technology, and Energy and Building Technology) running by nine business
units. A company’s revenue may be subdivided according to the divisions that
5
generate it, so that PT. Robert Bosch, which has three largest business unit which
are AA (Automotive Aftermarket), PT (Power Tools), and ST (Security System).
Each of the business unit also has many different customers and different finance
unit whose record their revenue. Although it is based on the same revenue
recording system, each of the business unit has agreements in different terms of
payment. With a large amount of revenue and have a company goals in advance
the future of mobility in general terms, and try to afford opportunities by
connectivity in manufacturing, PT. Robert Bosch must strengthen its revenue
record in order to have a regular and reliable fundamental system. PT. Robert
Bosch is a profit company so that maximum revenue is needed for the activities of
the company can run continuously.
By seeing the importance of well-record of revenue recognition and
measurement for the company to run the operational activities, author would like
to analyze the problem of revenue in the form of thesis entitled "Accounting
Implementation Analysis of Revenue at PT. Robert Bosch According to PSAK
No. 23.
1.2 Problem Identification
Based on the description of background research above, author formulates
the problem of this research are:
1. How is the accounting implementation of revenue in PT. Robert Bosch based
on AA (Automotive Aftermarket), PT (Power Tools), and ST (Security System)
projects?
6
2. Is the accounting implementation of revenue in PT. Robert Bosch based on the
two projects is in accordance with PSAK No. 23?
1.3 Research Objectives
The objective of this study is to obtain data and information on the
accounting implementation of revenue in PT. Robert Bosch. Based on the
formulation of the problem above, the objectives of this research are:
1. To analyze the accounting implementation of revenue at PT. Robert Bosch.
2. To assess the accuracy of the accounting implementation of revenue at PT.
Robert Bosch under the terms of PSAK No. 23 regarding the revenue.
1.4 Research Contribution
The research has contribution for related parties and also for the others.
Contributions of this research are:
1. For the company
The results of this research can improve the governance of the accounting
records based on the implementation of the accounting revenue, and
improve the accuracy of financial statement generated.
2. For the reader
As a reference that can be used for other research related to this issue. In
addition, as an additional knowledge for readers about the PSAK No.23.
7
3. For the author
The results of this study can broaden the insight about the accounting
implementation of revenue, provide a direct description of the application
of the theory that has been obtained during the class with practice
conducted in business world.
1.5 Research Organization
Chapter I – Introduction
This chapter contains an introduction of this research consisting of
explanation of the accounting process, revenue recognition, and revenue
measurement as the background of this research, along with its problem
identification, research objectives, and contributions of this research.
Chapter II – Literature Review
This chapter contains literature review elaborating theoretical basis and
theoretical framework.
Chapter III – Methodology
In this chapter, author describes the process used to collect information
and data for the purpose of making this research. The methodology
includes observation, interview, and technique of data analysis.
Chapter IV – Data Analysis
This chapter elaborates data analysis of performed research which is the
analysis of three transactions taken from Automotive Aftermarket, Power
Tools, and Security System division in PT. Robert Bosch.
8
Chapter V – Conclusion and Recommendation
This chapter provides the conclusion part in order to conclude the entire
discussion elaborated in the previous chapter. At the end, we will see the
result of this research, along with the suggestion from the author.
9
CHAPTER II
LITERATURE REVIEW
2.1 Literature Review
Accounting, according to Warren (2006), is an information system that
provides reports to users about economic activities and business conditions, while
according to Kieso et al. (2008) accounting is a process of identifying, measuring
and communicating financial information of an economic entity. In addition,
according to Suwardjono (2005) accounting is defined as a set of knowledge that
studies the provision of services in the form of quantitative financial information
of organizational units within a certain country and the way of delivering
(reporting) the information to the concerned parties as a basis of economic
decision making. Based on the three definitions above, it can be concluded that
accounting is a set of knowledge that studies the information system consisting of
the process of identification, measurement and communication to provide
financial information to carry out the activities of an organization or company.
Financial information is the result of the identification process of financial
transactions done by the company, then conducted an assessment or measurement
so that it can be communicated as financial statements. The financial statements
are prepared in accordance with accounting standard which is generally
applicable, in this case prepared under IFRS. These financial statements are
income statement, balance sheet report, statement of changes in equity, and cash
flow. Additional information is the company's future targets, issues that may
10
affect the company's goals, and forecasts for future business activities (Kieso et al.
2008).
The financial statements are basically a summary of all activities that can
increase or decrease various assets, liabilities, and capital of a company during a
certain period. The presentation process consists of two stages. The first stage is
called the recording phase while the second stage is the summarizing phase
(Sucipto, 2003). Each stage is interrelated and cannot precede each other because
it is impossible for the financial statements to be prepared in the absence of an
activity. These stages are known as accounting processes or accounting cycles.
According to Kieso et al. (2008) there are steps that must be done on the
process or accounting cycle, which are:
a. In the first phase, transactions are analyzed and recorded in the journal.
The journal records the entire chronology of transactions that have
occurred.
b. In the second stage, after the transaction is recorded, the journal entries
are transferred (post) into the ledger. The process of transferring
(posting) is the several amount from journal into the general ledger.
The general ledger is made up of posts of each account in the journal
transaction.
c. In the third stage, the final balance of the ledger account is transferred
to the trial balance. The trial balance presents a summary of transaction
information recorded in the general ledger. In addition, the trial
11
balance is also the basis for the preparation of financial statements
which is made periodically.
d. In the fourth stage, several accounts are made for adjusting entries.
Adjusting entries are made when there is an additional transaction in
the current accounting period. Adjusted transactions are recorded on
work sheets.
e. In the fifth stage, the adjusted trial balance is prepared after the
adjusting journal. This adjusted trial balance is the final balance of all
accounts after the adjustment account made at the end of the
accounting period.
f. In the sixth stage, the preparation of the financial statements is made
after adjusting the trial balance. The preparation of financial statements
in the work sheet provides information on the overview of activities as
well as changes in the financial position. After the financial statements
are prepared on a working paper, the financial statements can be made
in a formal form.
g. In the seventh stage, closing entries are closed temporally. Temporary
accounts are accounts which included in balance sheet in the form of
income and expense accounts.
h. At the eighth stage, the post-closing trial balance can be prepared after
the temporary accounts are closed. This trial balance is made to correct
the similarity between debit and credit after a temporary account is
closed.
12
i. The last stage, certain accounts have to be reversed. This step was not
a mandatory stage to be taken, but it is often necessary to facilitate
recording and adjusting in the next period. These accounts are such as
deferred accounts and accrued items.
Therefore, one of the most important parts in accounting process is the
determination, measurement and recognition of revenues as well as the
measurement and recognition of economic records related to corporate earnings.
Niswonger et al. (1999) describe revenue as a gross increase in owner's capital
resulting from the sale of goods, the provision of services to customers or clients,
tenants, and all business activities and professions that aimed to earn income. In
general, revenue is a business income, which refers to the amount of money that a
company actually receives during a specific period. Simply, revenue is the amount
Figure 1 – Accounting Cycle Source: www.economicswiki.com. Accounting Completing and
Closing the Accounting Cycle. Access date Dec 23rd, 2017.
13
of money received by the company from the sale of products (goods or services)
from customers and not derived from investment.
According to PSAK No. 23 (revised December 2014), revenue is the gross
inflows of economic benefits arising from the normal activities of an entity during
a period if that inflows result in an increase in equity, which is not derived from
the investor's contribution. Gross inflows are income derived from the sale of a
good or service that has been done. The normal activity of the entity is the main
activity of the company in producing the goods or service. This standard also
states that the company may not record taxes withheld from other parties as
revenue even though taxes are cash inflows to the company. On the other hand, a
company that operates as an agent (not an actual person) of a transaction may not
recognize the incoming cash as revenue, but only acknowledge the commission as
its income.
According to Dyckman et al. (2002), revenues are as follows: “revenue is
cash inflow or other enchangements of assets of an entity or settlement of
liabilities (or combination of both) during a period from delivering or producing
goods, rendering services, or other activities that constitute the entity’s ongoing
major of central operation”. This statement explains that revenue is the cash flow
or asset increase or liability settlement (a combination of both) over a period
which is from delivery or production of goods, providing services, or other
activities which are the main business operation of the company.
Based on the definitions above, it can be concluded that revenue is an
income from economic benefits or any increase in assets. Income comes from the
14
normal activities of the company or derived from the sale of a product or the
provision of services for a period.
2.1.1 Revenue Recognition
The issue of revenue in accounting is closely related to the
determination of the amount and when it should be recorded in a period. If
both are done incorrectly, profit will be incorrectly settled. The difference in
revenue recognition and the amount of revenue will affect the amount of
income statement.
Kieso et al. (2008) argues that revenue recognition is as follows:
“revenue is to be recognized when it is probable that future economic benefits
will flow to the company and reliable measurement of the amount of revenues
is possible”.
The provisions of revenue recognition from the sale of goods under
PSAK No. 23 (revised 2014) could be recognized if all of the following
conditions are met:
(a) The "entity has transferred to the buyer the significant risks and
rewards of ownership of the goods."
(b) The entity shall no longer continue the management related with the
ownership of the goods or take an effective control over the goods
sold;
(c) The "amount of revenue can be measured reliably”;
15
(d) Most likely that the economic related to its transaction will flow to the
entity; and
(e) Any expenses incurred or incurred in respect of such sale transactions
can be measured reliably.
Thus, revenue is generated when the company fundamentally settles its
obligations. Furthermore, revenue is recognized when the profit-generating
process is realized or actually has not been completed or as long as the costs
required to completing the process of generating the profit can be estimated
quickly.
In addition, revenue could be recognized only if most likely economic
benefits in respect of such transactions will flow to the entity. For example,
there is no certainty that a foreign government will grant permission to
remunerate a sale in a foreign country. If permission is granted, the
uncertainty is lost and revenue could be recognized. However, if uncertainty
arises from the collectability of a certain amount which is already recorded as
revenue, the amount of uncollectible or has a possibility of recovery is not
large anymore, is recognized as an expense rather than an adjustment to the
amount of revenue recognized initially.
Belkaoui (2006) states that there are two methods of revenue
recognition in the accounting period, namely:
1. Accrual Basis
This method explained that economic and event transactions are
recognized, recorded, and presented in the financial statements when
16
they are earned, regardless of when the money is actually received or
paid. Recording using this method recognizes the expense at the time
of the transaction occurs even though the cash has not been received,
and so with income. In this case, it can be concluded that recognizing
revenue using accrual basis reflects the state of the company and
could easily measure the company's performance.
2. Cash Basis
In cash basis method, the company records the income and expense in
journal entries when the cash is received or the cash is actually reduced
to pay off expense. Cash basis is one of the most important concepts in
accounting, because this method has its technique of recording when a
transaction occurs where money is actually received or issued.
2.1.2 Revenue Measurement
Revenue measurement is very important for every transaction which
generated revenue. Measurement of revenue can also be expressed in the
acquisition of cash or cash equivalents. Without proper measurement, the
performance of the company will be difficult to recognize considering the
revenue as a very important item in the financial statements, especially income
statement that requires accurate measurement.
Indonesian Institute of Accountants in PSAK No. 23 (revised
December 2014) states that "revenue is measured at the fair value received or
acceptable". Based on FASB Concept Statement No. 7, can be concluded that
17
fair value is the price to be received from the sale of asset or payment of
liabilities from the transactions between participants in the market and date of
measurement. The FASB, in statement No.157, establishes a framework for
measuring fair value in Generally Accepted Accounting Principles (GAAP), it
measures fair value as an exit value "fair value is the price that would be
received from the sell of assets or paid to transfer the liability (an exit price),
not the price that would be paid to acquire the asset or received to assume the
liability (an entry price)”.
Based on the statement above, revenue refers to the nominal value of
money equivalent at that time with nominal money to be received as a result
of the production process or transaction. In relation to the statement above
also, the revenue measurement is adjusted to fair value, which can be
determined with reasonable amount in order that the financial statements are
not reflected in over-stated and under-stated income. From this criterion it is
clear that all returns, discounts, and other deductions from the collected price
should be deducted from the revenue of its transaction.
There are five basic revenue measurements according to SFAC
(Statement of Financial Accounting Concepts) No. 5 namely:
1. Historical Cost, which is the equivalent cash price that is exchanged
for goods or services on the date of acquisition. On the basis of this
measurement, assets are accounted for at the expense of cash (cash
equivalents) or the fair value of the consideration given to acquire the
asset at acquisition.
18
2. Current Cost, is the cash price to be paid now to buy or replace the
same type of goods or services that are not discounted which may be
required to settle the obligation.
3. Current Market Value, is the equivalent cash price that can be obtained
by selling an asset and liquidation that is conducted directly.
4. Net Realizable Value, is the amount of cash that is expected to be
received or paid from the exchange of assets or liabilities in the normal
course of the company. In general, the net realizable value equals the
sale price minus normal sales costs.
5. Current Discounted Value, is an asset expressed as future net cash
inflows that are discounted to the value of the post expected to deliver
results in the normal course of business obligations expressed to the
present value expected to be required to settle liabilities in the conduct
of the business.
Nevertheless, revenue measurement also has limitations. Limitations
of revenue measurement can arise because accounting data is presented on the
assumption that the data is relevant. However, the inability to make a reliable
revenue measurement and attributes that are considered relevant may also be
due to a lack of measurement techniques and the inability to find income
procedures that adequately describe the attributes being measured.
19
2.2 Research Framework
In conducting the company's operational activities, PT. Robert Bosch
made the accounting report that become an information about the company's
finance. The incomes statement are one of the most material records for PT.
Robert Bosch where all incomes of the company's activities are reported.
Therefore, it needs to be further analyzed regarding the application of accounting
for revenue made by PT. Robert Bosch. In this case, author used PSAK No.23 as a
reference analysis of revenue for PT. Robert Bosch. Comparative analysis of the
accounting application of PT. Robert Bosch conducted on three transactions done
by PT. Robert Bosch in 2017. The three projects are run by Automotive
Aftermarket (AA), Power Tools (PT), and ST (Security System) business unit.
The three transactions itself will be analyzed the application of accounting for
revenues related and subsequently compared with PSAK No. 23 in order to draw a
conclusion.
20
CHAPTER III
METHODOLOGY
3.1. Research Objective
In this research, author collected data from the global manufacturing
company, PT Robert Bosch which is located in Palma Tower, Pondok Pinang,
Kebayoran Lama, South Jakarta. The object of this research is the analysis of
accounting application of revenue based on PSAK No.23 (revised 2014) during
the accounting period of 2017. This research was conducted on December 2017.
This research is a qualitative research, which analyzes the state of a part within the
company whether the implementation of accounting is done in accordance with
applicable provisions.
The method used in this research is qualitative research method.
Qualitative research is multi-method in focus, involving an interpretive,
naturalistic approach to its subject matter. This means that qualitative researcher
study the problem in their natural settings, attempting to make sense or interpret
phenomena in terms of the meanings people bring to them. Qualitative research
involves the studied use and collection of a variety of empirical materials case
study, personal experience, introspective, life story interview, observational,
historical, interactional, and visual texts-that describe routine and problematic
moments and meaning in individuals' lives (Denzin and Lincoln, 1994).
According to Mason (2002), author can do qualitatively research by using
methodologies that celebrate richness, depth, nuance, context, multi-
21
dimensionality and complexity. Instead of editing these elements out in search of
the general picture or the average, qualitative research factors the author directly
into its analyses and explanations. This means that author has an unrivalled
capacity to constitute compelling arguments about how the research works in
particular contexts.
Qualitative research is related to the ideas, perceptions, opinions, or beliefs
of the observed persons, all of which cannot be measured by numbers. The data
collected is not intended to support or reject the hypotheses that have been
compiled before the study begins, but the abstractions are structured as collected
specificities and grouped together through a carefully executed data collection
process. In this study, author develops concepts and collect facts, but do not
perform hypothesis testing through the calculation of the numbers.
3.2. Data Collection
Data collection plays a very crucial role in the statistical analysis. In
research, there are different methods used to gather information, all of which fall
into two categories; primary data and secondary data. In gathering the data, author
used both of primary and secondary data.
Primary data here refers to data originating from directly related sources.
Primary data is searched through resource persons or respondents where the
respondents here are the people who serve as a means of obtaining information or
data. Author will get this primary data through the interview with one of the
associate from Automotive Aftermarket, Power Tools, and Security System
22
business unit. The author seeks this interview to be relaxed and supple in order
not to be too tense and formal without overriding the seriousness. Interview in this
research is used to know the perception of the source about the transaction related
with revenue. When author is less confident with the answer and the subjects
interviewed, author need to prove the answer through the observations in the field.
The author comes directly to PT. Robert Bosch office in Palma Tower and sees
through the revenue recording operation.
Secondary data referred to the data obtained or collected by people
conducting research from existing sources. This data is used to support the
primary information that has been obtained from the library materials, literature,
books, and so forth. In this case, author took its secondary data from the financial
report of Automotive Aftermarket (AA), Power Tools (PT), and Security System
(ST) business unit.
3.3. Technique of Data Analysis
The author uses qualitative and analytical descriptive method, which is
collecting data according to the reality in PT. Robert Bosch then analyzed and
interpreted the data and facts to draw a conclusion and suggestion by comparing
the data with the relevant theory which has been explained previously. In
analyzing the data, author must also test the validity of data in order to obtain
valid data.
23
3.4. Company Profile
Robert Bosch worldwide has 389.281 associates with the largest number is
in Germany as its parent company, followed by Asia Pacific with 110.00
associates which Indonesia is a part of this region, Europe has 102.680 associates,
and Americas with 42.627 associates.
With the large number of employee, Robert Bosch also has the large
revenue per 2016 that is 73,1 billion euros (as shown on the table below). Sector
Mobility Solution is run by several business unit divisions which are Gasoline
System, Diesel System, Chassis System Control, Electrical Drives, Starter Motor
and Generators, Car Multimedia, Automotive Electronics, Automotive
Aftermarket, and Automotive Steering. Sector Industrial Technology handled by
Drive and Control Technology, and Packaging Technology division. Sector
Consumer Goods handled by Power Tools and BSH Hausgerate GMBH division,
Figure 2 – Robert Bosch worldwide associates
Source: PT. Robert Bosch Annual Report 2016
24
and sector Energy and Building Technology handled by Security System,
Thermotechnology, and Bosch Global Service Solution division.
Robert Bosch started to import their products named Magneto Ignition to
Indonesia in 1919 and because of the enthusiasm of Indonesian automobile
customers, electric starter and horns also entered Indonesian market. On February
2, 1973, Robert Bosch GmbH signed a contract with the Indonesian Motor
Company based in Jakarta. The agreement launched a joint venture for
manufacturing spark plugs for automobile and motorcycle engines.
May 2008, Bosch established its own company called PT (Limited) Robert
Bosch, with branch offices today in Surabaya, Medan, Balikpapan, Semarang and
Bali. Perseroan Terbatas (PT) is a joint venture legal entity and established under
the agreement. The agreement itself was made by two or more parties and must
have some portion of the authorized capital. The authorized capital entirely
consists of stocks that can be traded. Because the capital consists of stocks that
Figure 3 – Annual Revenue
Source: PT. Robert Bosch Annual Report 2016
25
can be traded, then if there is a change in corporate ownership, it can be done
without dissolving a Perseroan Terbatas (PT). (UU RI No.40 about PT).
PT. Robert Bosch have totally 9 business units, which are; Power Tools
(PT), Automotive Aftermarket (AA), Security Systems (ST), Robert Bosch
Automotive (RBIY), Original Equipment (OE), Gasoline Systems (GS),
Termotechnology (TT), Food and Beverages Packaging (PA), and Drive and
Control (DC). Each of its business unit has different goods to be sold, different
customer, and has its own finance controller. In this research, author took
Automotive Aftermarket (AA), Power Tools (PT), and Security System (ST)
business unit as an objective.
According to the information provided by PT. Robert Bosch to author, the
organizational structure that applies to this company is in the form of lines. Since
the company established, PT. Robert Bosch has undergone several changes that
are tailored to the company's operational development. Company organizational
chart can be seen in appendix 1 and 2.
Based on PT. Robert Bosch’s SOP (Standard Operational Procedure),
author got a various job in the organizational structure contained in each
department. Here are the tasks performed by each department:
a. General Manager
- Set the goals and target of the company
- Fully staffed with the friendliest, most positive, and eager to help
employees.
26
- Provide technical leadership over the Project and Quality Management
team through strategic planning, goal/policy development and
deployment/execution of goals and targets as part of daily team
management.
b. Head of Division
- Perform on-line SPC (Statistical Process Control) charting as required
- Provide technical leadership over the Project and Quality Management
team through strategic planning, goal/policy development and
deployment/execution of goals and targets as part of daily team
management.
- Support regular GB meetings to address open issues.
- Prepare internal and external audit
- Ensure that inbound and outbound volumes meet targets
- Ensure that all associates complete tasks according to job standards.
- Maintain overall responsibility for performance of shift operations,
directing daily activities, providing coaching and feedback to
associates, as well as monitoring performance of material handling
equipment.
c. Sales
- Run various production machines
- Perform on-line SPC (Statistical Process Control) charting as required
- Perform various other duties as directed by management
27
- Communicate customer expectations in sales areas and coordinate
Bosch internal activities in an efficient and expedient manner. Drive
the process for a reduction in overall discrepancies on then customer
accounts receivable account.
- First level verification of Purchase Order (PO) to customer quotation.
Distribution of PO to divisional contact.
d. Account Receivable
- Ensure correct master data within SAP (Systems Applications and
Product) software include customer, pricing, and part number cross
reference in a timely manner.
- Invoicing and collection (contact customer for collection and payment
status), credit research
- Reconcile cash balances to bank statements
- Management and reporting of accounts receivable and advance
payments
- Daily review of receipts with the bank for cash application posting
- Insure Scheduling Agreement is setup correctly for new parts or
updated as necessary based on purchase order agreement. Ensure set-
up of EDI (Electronic Data Intercharge) format and mailboxes
complies with system requirements. Resolve EDI communication
failures.
- SO (Sales Order) release
28
- Assist in resolution with divisional sales teams and customer payables
team, including update pricing, processing of retroactive price
adjustments and offsetting against respective price discrepancies on
customer AR aging.
29
CHAPTER IV
DATA ANALYSIS
The purpose of this study was to examine the appropriateness accounting
implementation of revenue in PT. Robert Bosch towards the regulation of PSAK
No.23. This research uses qualitative method and descriptive approach. In this
research, author is required to dig the data based on what is spoken, felt, and done
by the data source. In this qualitative research, author does not demand the
information as it should be what the author thinks, but based on what is happening
in the field, experienced, perceived, and thought of by the data source. By doing
research through a descriptive approach, the author must describe, and explain,
the data that have been obtained by the author through in-depth interviews
conducted with the informants.
4.1 Transaction Analysis – Automotive Aftermarket
Automotive Aftermarket division offers a comprehensive range of vehicle
accessories and commercial vehicles for the aftermarket and for workshops
worldwide – from new parts to reconditioned spares and logistics of automotive
parts of servicing vehicles – as well as diagnostic and repair-shop solutions. One
of the complex spare parts of Automotive Aftermarket division is relay which is
used for switching electrical equipment that has a high power or sensitive to
voltage losses. It relieves the burden on control switches and provides low voltage
drops with economical wire cross-section.
30
The product portfolio consists of Bosch original equipment products, as
well as products developed and manufactured inhouse for the spare parts market.
Under the designation “Automotive Service Solutions,” Automotive Aftermarket
division also provides testing and repair technology, software for diagnostics,
service training, and technical information service. The division is also
represented in the market by Bosch Car Service and AutoCrew, two independent
repair-shop franchises. Automotive Aftermarket division is also using data-based
business models to develop solutions for fleet operators, leasing companies, and
insurers.
Automotive Aftermarket (AA) of PT. Robert Bosch have more than 110
associates. With the products’ promotion through the website and sales, in 9
September 2017, PT. Robert Bosch received a Purchase Order from PT. KMSI.
The following purchase order given by PT. KMSI namely:
1. Gasket DK029341-0110
2. Gasket DK029341-4130
3. Valve DK131424-3420
4. Spring DK150562-6200
5. Nozzle 6152-12-3520
6. Injector ASS’Y 6745-12-3100
7. Injector ASS’Y 6745-12-3100P + Core
8. Injector 6754-11-3102P
Purchase order from PT. KMSI received by AA sales and it needs to be
approved first by the management of AA division. After AA division received the
31
Purchase Order from PT. KMSI and has the order approval, AA division needs to
give the Purchase Order form to Account Receivable - Finance Department to
process the PO. Account Receivable division is responsible to check and make
sure that the PT. KMSI does not exceeded the credit limit. If PT. KMSI has
unpaid credit, the proposed purchase order will be automatically ignored until the
previous payable paid off. In this case, PT. KMSI has no debt thus Account
Receivable division allowed to release SO (Sales Order) and make a journal to
record the revenue since PT Robert Bosch use an accrual basis. After SO released,
Automotive Aftermarket (AA) business unit allow to make an invoice in
accordance with the list in the sales order along with the right amount that has
been agreed. AA division sent the goods on 30 October 2017 along with the
Delivery Order (DO), invoice and its tax invoice.
The total amount from purchase order of PT. KMSI was Rp.
762.588.750,00 which have the term of payment 30 days net from the invoice
date. The payment agreement that has been agreed by PT. Robert Bosch and PT.
KMSI is with the term of payment 30 days, PT. KMSI should pay 50% from the
total amount or equivalent to a minimum Rp. 381,294.375,00.
Revenue measurement made with PT. KMSI can be said has complied
with the regulations as set forth in PSAK No. 23 (revised 2014) where revenue
received by PT Robert Bosch from PT. KMSI was based on fair value and its
valued based on cash or cash equivalents received on the transaction. Revenue
measurement obtained from the sale of goods conducted by PT. Robert Bosch was
correct with the price agreed by both parties.
32
Since the invoice released, which is 31 October 2017, PT. Robert Bosch
has recorded revenue that is expected to be paid from PT. KMSI. The journal
recorded by PT. Robert Bosch is as follows:
Journal (1) is a journal recorded by PT. Robert Bosch at the time of
issuing the invoice and send the invoice to PT. KMSI. Journal (2), (3), (5), and (6)
is a journal recorded by PT. Robert Bosch upon the receipt of installment
payments from PT. KMSI where the journal (2) represents the initial payment
which is an agreement on the settlement of 50% of the total transaction, and
Figure 4 – Automotive Aftermarket transaction
Source: SAP software PT. Robert Bosch
33
journal (4) is recorded as a 10% VAT (Value-Added Tax) payment on the sale of
goods PT. Robert Bosch.
Based on the information above, the revenue of PT. Robert Bosch has
been fully recognized at the time of issuing an invoice while the invoice is issued
before the due date of the payment where the goods have been shipped to the
customer and the obligations that should be fulfilled by the Automotive
Aftermarket division have been done completely. Recognition of revenues made
by PT. Robert Bosch has complied with PSAK No. 23 as set forth in paragraph 14
which states that "the entity no longer continue the management related with the
ownership of the goods or take an effective control over the goods sold and the
amount of revenue to be received can be measured reliably". Therefore, in the
transaction between PT. Robert Bosch and PT. KMSI listed above is already
complied with PSAK No. 23 (revised 2014)
4.2 Transaction Analysis – Power Tools
In accordance to PT. Robert Bosch annual report (2016), Bosch Power
Tools is one of the world’s leading suppliers of power tools, power-tool
accessories, and measuring technology. With brands such as Bosch, Skil, and
Dremel, this division places a focus on customers and technical progress. Bosch
Power Tools division also had its authorized service center in 25 cities in
Indonesia. The main success factor of this company lies in its strength and
innovative step. In fact, Bosch Power Tools has a "Bosch Heavy Duty" product
designed to facilitate heavy job constructions. Claiming that “Bosch Heavy Duty”
34
tools have strong power, thus it can cut and drill even the huge object that will
result the customer’s work can be completed effectively and efficiently.
In addition to power tools such as rotary hammer, heat gun, angle grinder,
cordless screwdrivers, and jigsaws, the product line also includes gardening
equipment such as lawnmowers, hedge trimmers, and high-pressure washer.
Convenient, high-performance cordless equipment, and increasingly also web-
enabled equipment and service are the division’s focal points. Power Tools also
offers laser measurement tools for both professional and DIY needs. The
accessories include a comprehensive range of abrasive systems, drill bits, and saw
blades. Precision power tools for DIY and amateur users are also sold under the
Dremel brand.
Power Tools (PT) in PT. Robert Bosch have around 180 associates. With
the products’ promotion through the website and sales, PT business unit received
delivery order from CV. GTA. The following purchase order given by CV. GTA
namely:
1. Demolition Hammer
2. Jigsaw (GST 65E)
3. Rotary Hammer
4. Jigsaw (GST 80PB)
5. Mini Router
6. Hot Air Gun
7. Blower
8. Angle Grinder
35
9. High Pressure Cleaner Universal
10. HSS-G Metal Drill Bit
11. Reducer Nozzle for Hot Air Gun
12. SDS+ Flat Chisel
13. Metal Cutting Disc
14. Metal Grinding Wheel
15. Diamond Cutting Disc
16. SDS Plus Drill Bit
17. Set of Blades (GHO 10-82)
18. Multi Purpose D/BIT
Having the same sales process with AA division, after receiving the
purchase order from CV GTA, Account Receivable from Finance Department
process the PO and release SO (Sales Order). After SO released, Power Tools
(PT) business unit sends the goods on 31 October 2017 along with the Delivery
Order (DO) and its invoice.
The total amount from purchase order CV. GTA was Rp. 7.981.764 which
have the term of payment 30 days net from the invoice date. Revenue
measurement made for CV. GTA is the fair value agreed between CV. GTA with
PT. Robert Bosch. It is valued based on cash or cash equivalents received on the
transaction. In accordance with PSAK No. 23 (revised 2014), this revenue
measurement is acceptable even without discounting. Measurement of revenue
earned from contracts made by the company is appropriate with the price agreed
36
upon when the transaction reflects the exchange rate of goods to be received by
the company.
Since the invoice released, which is 31 October 2017, PT. Robert Bosch
has recorded revenue that is expected to be paid from CV.GTA. The journal
recorded by PT. Robert Bosch is as follows:
Journal (1) is a journal recorded by PT. Robert Bosch at the time of
issuing the invoice and sends the invoice to CV. GTA on October. Journal (2) is a
journal recorded by PT. Robert Bosch in December at the time of CV. GTA
makes a payment on the transaction, while journal (3) is recorded as a 10% VAT
(Value-Added Tax) payment on the sale of goods by PT. Robert Bosch which
recorded separately in order to make the taxes calculation easier.
Based on the information above, the revenue of PT. Robert Bosch has
been fully recognized at the time of issuing an invoice while the invoice is issued
before the due date of the payment where the goods have been shipped to the
customer and the obligations that should be fulfilled by the Power Tools division
Figure 5 – Power Tools transaction
Source: SAP software PT. Robert Bosch
37
have been done completely. Recognition of revenues made by PT. Robert Bosch
has complied with PSAK No. 23 as set forth in paragraph 14 which states that
"revenue recognition may be recognized if an entity has transferred its goods
significantly to the customer and the amount of revenue to be received can be
measured reliably". Therefore, in the transaction between PT. Robert Bosch and
CV GTA listed above is already complied with PSAK No. 23 (revised 2014).
4.3 Transaction Analysis – Security System
The Security Systems division offers not only the innovative products, but
also solutions for customer in the security and communications field, principally
for commercial applications. The product portfolio encompasses video-
surveillance, intrusion detection, fire detection, and voice evacuation systems, as
well as control access, building management systems, professional audio and
conference systems. Bosch Security System division has its best shot sales
products in 2016 which is heat detector. Bosch security system integration is able
to provide the information for every level of the building infrastructure - on
devices, through data transmission, and in software management - therefore the
building management can change the connections faster. Security Systems
division has monitored access for programming and service with the customer and
also has a system condition displayed in an easily and understandable picture
which became its superiority.
Bosch also operates in selected countries via the Integrator Business
operating unit (installation business), which offers solutions and services for
38
building security, energy efficiency, and building automation. This unit combines
the commercial service business of the building security unit with the subsidiary
Bosch Energy and Building Solutions GmbH, Ditzingen, Germany, and the
building automation service provider Climatec, LLC, based in Phoenix, AZ
(USA).
Security System (ST) in PT. Robert Bosch has more than 75 associates.
With the products’ promotion through the website and sales, PT business unit
received purchase order from PT. Y2CI. The following purchase order given by
PT. Y2CI namely:
1. PVA-4R24 Router
2. FCS-LWM-1 Linear Heat Detector
3. UL – ULC Fire Alarm
4. D1640 Transformer plug-in
5. PVA-2P5xx PAVIRO
6. LBC 1221/01 Floor Stand
7. LBC 1227/01 Table Stand
8. Single Channel Power Amplifier
9. Dynamic Supercardioic Lead Vocal Mic
Unlike other business units that complete a transaction by selling goods
and delivering goods to customers, ST business unit has sales and runs it as a
project. Most of the Security System’s projects are from the government. When
selling the goods to customers, Security System business unit has an agreement
for the installation of these products since the operations of the security system
39
equipments are different from each other. Equipment installation services for
customers’ building and its guidance of the operations are usually done through a
dealer or other party. Therefore, although the Security System and its customers
have agreements on the sale of goods and services, PT. Robert Bosch is not
subject to withholding tax (WHT) as a deduction to be recorded in the invoices.
Similar to the AA and PT business unit, ST also had business flow from
received the Purchase Order, until the settlement of transaction on sale. Purchase
order from PT. Y2CI is also received by sales and it needs to be approved first by
the management of ST division. After ST division received the Purchase Order
from PT. Y2CI and has the order approval, ST division need to give the PO to
Account Receivable - Finance Department to process the PO. After all of the
recording flow, ST may send the invoice to the customer.
The total amount from purchase order PT. Y2CI was Rp. 131.650.587
which have the term of payment 45 days net from the invoice date. The
measurement of revenue made by PT. Y2CI is the fair value agreed between the
company and PT. Robert Bosch. Where revenue measurement is valued based on
cash or cash equivalents received on the transaction. In accordance with PSAK
No. 23 (revised 2014), this revenue measurement is acceptable even without
discounting. Measurement of revenue earned from contracts made by the
company is appropriate with the price agreed upon when the transaction reflects
the exchange rate of products to be received by the company. Furthermore,
journal recorded by PT. Robert Bosch are follows:
40
Journal (1) and (3) is a journal recorded by PT. Robert Bosch at the time
of issuing the invoice and sends the invoice to PT. Y2CI. Journal (3) is an
additional journal for updated invoice that is PT. Y2CI purchase in close
proximity and requests that its invoices to be combined into one. Journal (2) and
(4) is a journal recorded by PT. Robert Bosch on installments paid by PT. Y2CI,
while the journal (5) is recorded as a 10% VAT (Value-Added Tax) payment on
the sale of goods by PT. Robert Bosch.
Based on the information above, the revenue of PT. Robert Bosch has
been fully recognized at the time of issuing an invoice while the invoice is issued
before the due date of the payment and the goods have been shipped to the
customer although the obligations that should be fulfilled by the Security System
Figure 6 – Security System transaction
Source: SAP software PT. Robert Bosch
41
division has not been done completely because in this case, Security System
division run its project in 12 December 2017.
Recognition of revenues made by PT. Robert Bosch also has been
complied with PSAK No. 23 as set forth in paragraph 14 which states that
"revenue recognition may be recognized if an entity has transferred its goods
significantly to the customer and the amount of revenue to be received can be
measured reliably". Although as set forth in paragraph 16 in PSAK No. 23 states
that the transaction cannot be recognized as revenues if an entity holds the
obligation in connection with the practice of a matter, but the Security System
withholds the obligation of completing the installation of the products has an
agreement with PT. Y2CI and guaranteed to be resolved under the normal
conditions. Therefore, in the transaction between PT. Robert Bosch and PT. Y2CI
listed above is already complied with PSAK No. 23 (revised 2014).
42
CHAPTER V
CONCLUSION AND RECOMMENDATION
5.1 Conclusions
Based on the evaluation and analysis done by author, there are some
conclusions that can be drawn by the author:
1. Accounting implementation of revenue PT. Robert Bosch:
a. Revenue measurement done by PT. Robert Bosch is already in
accordance with fair value that has been agreed between the company
and its customers. Where revenue measurement is valued based on
cash or cash equivalents received on the transaction.
b. PT. Robert Bosch recognizes the revenue by using an accrual basis
method. Revenue is fully recognized by PT. Robert Bosch when
issuing invoices to customer.
2. Accounting implementation of revenue in PT. Robert Bosch according to
PSAK No. 23 (revised 2014):
a. Revenue measurement done by PT. Robert Bosch is already according
to fair value that has been agreed between the company and its
customers. Here, revenue measurement is valued based on cash or cash
equivalents received on the transaction. This is in accordance with
PSAK No 23 (revised 2014)
b. Revenue on sales to each of AA, PT, and ST customer are recognized
by PT. Robert Bosch at the time of issuing invoices, where the invoice
43
was issued after the goods ordered by the customer sent and issued the
delivery order, so that the three sales transactions that have been taken
at random by author conducted by PT. Robert Bosch is in accordance
with PSAK No. 23.
5.2 Recommendations
After the author do research and conclude how the application of
accounting at PT. Robert Bosch, the author tries to provide suggestions that may
be used as a basis of consideration or input to PT. Robert Bosch:
1. When issuing the invoice to customer, PT. Robert Bosch is not supposed
to recognize the full revenue. This will create a material risk if prior to
payment due, the client may be suddenly canceling the purchase order or
PT. Robert Bosch suffered a default so the services were not paid out
completely. Therefore, when issuing the invoice, PT. Robert Bosch should
credit unearned revenue instead of crediting revenues.
2. PT. Robert Bosch needs to add more employees both in terms of quality
and quantity. This is done so that the resulting financial information can be
more accurate and can be used both internal and external users.
3. PT. Robert Bosch is expected to be able to more carefully in the customer
selection to prevent delinquent payments or lateness payment since its
hard for private company to changing the terms and conditions of a
company's receivables such as imposing penalties or interest on customers.
44
References
American Institute of Certified Public Accountant. (1966). AICPA Professional
Standards Vol. 1. New York: AICPA
Belkaoui., & Ahmed R. (2006). Accounting theory. 5th Edition. Jakarta: Salemba
Empat
Bond, J. (2011). Accounting Completing and Closing Accounting Cycle.
Retrieved 20th December 2017 from
http://www.economicswiki.com/accounting-completing-closing-
accounting-cycle/. Access date: December 20th, 2017
Dyckman, T. R., Roland, E. D., & Charles, J. D. (2002). Intermediate Accounting.
10thEdition. Jakarta: Erlangga
Denzin, N. K., & Lincoln, Y.S. (1994). Introduction: Entering the field of
qualitative research. Handbook of Qualitative Research. pp. 1-18.
Thousand Oaks: Sage.
Financial Accounting Standards Board. (2008). Statement of Financial
Accounting Concepts No. 5. Retrieved from
http://www.fasb.org/pdf/aop_CON5.pdf
Financial Accounting Standards Board. (2008). Statement of Financial
Accounting Concepts No. 6. Retrieved from
http://www.fasb.org/pdf/aop_CON6.pdf
Financial Accounting Standards Board. (2008). Statement of Financial
Accounting Concepts No. 7. Retrieved from
http://www.fasb.org/pdf/aop_CON7.pdf
45
Financial Accounting Standards Board. (2008). Statement of Financial
Accounting Concepts No. 157. Retrieved from
http://www.fasb.org/pdf/aop_CON157.pdf
Fees, Reeve, Warren, & Niswonger. (1999). Prinsip-Prinsip Akuntansi. 19th
edition, Jakarta: Erlangga.
Hanne, N., Lennart, N., & Falconer, M. (2010). Towards a paradigmatic
foundation for accounting practice. Accounting, Auditing & Accountability
Journal, 23, 733-758.
Ikatan Akuntansi Indonesia. (2014). Pernyataan Standar Akuntansi
Keuangan (PSAK) No. 23. Jakarta: IAI.
Jennifer, M. (2002). Qualitative Researching. 2nd Edition. London: Sage
Publication.
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2008). Intermediate
Accounting. 12th Edition IFRS. Jakarta: Erlangga.
PT. Robert Bosch. (2017). PT. Robert Bosch Annual Report.
Republik Indonesia. Undang-Undang No. 40 Tahun 2007 tentang Perseroan
Terbatas
Sucipto. (2003). Penilaian Kinerja Keuangan, Accounting Journal. Retrived 8
December 2017 from www.Library.usu.ac.id.
Suwardjono. (2005). Teori Akuntansi: Perekayasaan Pelaporan Keuangan. 3rd
Edition. Yogyakarta: BPFE.
Warren, C. S., James. M. R., & Jonathan, D. (2006). Financial Accounting. Ohio:
Thomson.
46
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2015). Financial
Accounting. IFRS 3rd Edition. New Jersey: John Wiley.
47
Appendices
Appendix 1
PT. Robert Bosch Organization Structure
48
Appendix 2
PT. Robert Bosch Divisional Structure
49
Appendix 3
Observation and Interview Letter
50
Appendix 4
Interview with AA (Automotive Aftermarket) associate
*perkenalan*
- Udah berapa lama di divisi AA ini mba?
- Oh baru juga sih saya, masuk 2016 awal
- Oh..sekitar setahunan lah ya mba, kalo boleh tau jobdesc nya apa mba?
- General jobdesc aja kali ya..jadi daily job saya disini nerima purchase
order (PO) dari sales itu pasti tiap hari sih, terus record orderannya
customer AA sekalian, managing work-on employee juga kalo ada yang
mau dinas keluar kota/negeri, approval sign, gitu2..
- Hmm, kalo flow untuk proses purchase order dari diterimanya PO dari
customer sampai ke pembayaran itu gimana ya mba? Dan biasanya berapa
lama?
- Wah kalo berapa lamanya itu ga nentu ya..tapi kita selalu berusaha untuk
mempercepat prosesnya aja since kita yang jualan, sebisa mungkin
customer itu puas dengan Bosch jadi biar kedepannya juga pihak customer
dan pihak dari Bosch kerjasama nya tetap kejalin dengan baik..
- Untuk flow nya sendiri gimana mba?
- Untuk flownya sendiri, yang gimana dulu nih? Saya jelasin aja ya..
Biasanya kalo customernya perorangan tuh liat katalog nya dari website,
atau kalo ada pameran gitu beli nya satu2, nah itu kita terima
pemesanannya via online, bisa langsung di proses kayak olshop olshop aja
gitu, nanti kita lapornya ke finance AA sendiri. Nah kalo customer kita
company juga, mau itu toko biasa, CV, PT, atau bentuk company lain, itu
biasanya dari sales. Sales kita melakukan promosi, customer mesen dan
dicatat purchase order, nanti dikirim ke kita, baru diproses.
- Internal flownya gmn mba kalo boleh tau?
- Nah kalo divisi AA udah nerima purchase order, nanti kan dikasih ke
saya, saya record purchase order nya, dirapihin formnya, terus nanti minta
approval purchase order dulu dari kitanya juga..abis itu saya kasih
biasanya ke intern untuk dikasih ke bagian Finance. Nanti finance yang
proses lagi sampai ada namanya SO (Sales Order). Nanti kalo SO nya
udah released, baru kita buatin Delivery Order dan Invoicenya. Kita
request dulu juga ke bagian Tax untuk dibuatin faktur pajaknya. Nanti kalo
supporting document ini udah complete, baru kita tagih ke customer kita.
- Untuk lebih detailnya..boleh tunjukin recordnya ga mba dari satu
customer gt?
51
- Boleh, bentar ya..mau yang dari company gede apa kecil aja?
- hmm, terserah mba hehe aku mau tau gimana bentuk recording aja mba
- Transaksi baru ya? Akhir oktober kali ya..
- Boleh mba
- Nah ini ada PT Komatsu, dia kan ngirim purchase order ke kita
itu…bentar ya masih loading haha
- hahaha gapapa mba, iya SAP kalo udah kebanyakan transaksi suka gitu
ya
- Iya nih..nah ini. Dia kan ngirim purchase order tuh bulan lalu, tanggal 9.
Eh tanggal cantik. Hehe. Terus kan kalo kayak gini masih ada coretan nih,
saya biasanya make sure nih ke PT. Komatsu nya buat nge fix-in orderan
gt. Nanti saya minta resend nya via email to prevent miscommunication.
Nah nanti kalo udah ada email dari dia, saya forward aja ke Finance untuk
di proses. Nanti kalo bagian ini nya kamu nanya ke atas aja ya bagian
finance. nah ini juga contoh delivery order nya isinya list barang apa aja
yang kita send ke customer itu. Kita ngesend nya baru akhir Oktober
banget, ini sama invoicenya juga kayak gini sih..
- Ini kok bisa lama ya mba prosesnya?
- Iya soalnya customer yang ini kenapa ya kmrin itu…oh dia kan udah
ngirim PO nih yang masih ada coretan, terus sempet ngubah orderan baru
resend email ke kita..itu aja bisa seminggu lebih, kepotong satu dua hari
untuk approval order internal kita, diproses ama finance juga cepet sih
biasanya. Nah kemarin itu kepotong seminggu lagi karena system tax kita
sempet error jadi gabisa send invoice. Pas kemarin saya omongin ama
customer nya, customernya juga santai aja katanya juga baru bisa bayarnya
akhir oktober kebetulan..
- Oh..kalo untuk nerima pembayaran itu ke finance business unit sendiri
atau langsung ke PT. Robert Bosch mba?
- Ya ke company langsung dong, AA business unit tuh jadi sebenarnya
kayak perantara gitu, nanti kita kasih no rek PT. Robert Bosch nya, tapi
tetep kita yang ngontrol pembayarannya krna kan itu jualan kita..
- Ini kan orderannya banyak ya mba, dan that’s a big amount. Dia
langsung bayar lunas gt apa bisa nyicil? Hehehe
- Kamu meratiin aja sih wkwk. Dia nyicil kok..nah biasanya itu sesuai
perjanjian aja, kita kan jualannya ga kaku tapi harus tetep meratiin
compliance..Nah kebetulan ini kmren persetujuannya bayar 50% dulu
52
sampai akhir nov nanti, disini kan ada kita state term of payment 30 days
kan..nanti sisanya dia nyicil lagi gt..
- Kalo dia telat bayar gimana dong mba?
- Ya kita tagih, tapi tetep yang enak aja gitu caranya soalnya kan customer
kita juga run a business, jadi selama masih normal ya kita ngerti aja gt,
paling di telfonin finance, atau finance minta penjelasan dari sales kita
gitu..
- Ohiya mba kalo ada yang order biasanya barangnya dianter siapa ke
customer?
- Biasanya sales karena mereka yang berhubungan langsung ke
customernya. Kan kita juga ada sales yang dari luar kota, jadi banyak yang
handle.
- Oh gitu ya mba, sejauh ini informasi nya udah cukup sih..makasih ya
mba atas waktunya..nanti kalo ada pertanyaan lebih lanjut boleh aku
hubungin lagi ga mba?
- Boleh boleh, tapi maklum aja ya nanti kalo agak lama balesnya, kan mau
closing.hehe
-Okeyy mba, makasih sekali lagi yaa..
53
Appendix 4 - translation
Interview with AA (Automotive Aftermarket) associate
*introduce*
- How long have you been an associate in AA division?
- Not long enough, I just got here in early 2016.
- Oh..it is around a year, may I know the job description for you?
- Maybe I just tell you the general parts, so for the daily job, I am the one
that receive the Purchase Order (PO) from sales, and then record the
customer’s order, manage the work-on for the employee whose about to
have a business to another city or even country.
- Hmm, how about the flow for purchase order itself? And how long it
needs to be paid?
- It is uncertainty for the time, but we are all always try to make the
process fast. We expect that the relationship between this company and the
customer will always good in the future.
- How about the flow for the order itself?
- For the flow itself, usually the customer (individually) will see our
products through our online catalog and order it via website. For the
customer (company) in the form of CV, PT, or etc, the order is usually
from our sales. Our sales done the promotion, customer makes a purchase
order, and sends to us to be processed.
- May I know how the internal process?
- After AA division received the purchase order, I will record it into our
system to get the approval sign. After that, I will give it to my intern to
hand it to finance department. Finance will process it and realeased the
sales order (SO). If the SO already released, we may issue the Delivery
Order (DO) and its invoice. I also request the tax invoice to the tax
division. After all of the supporting document completed, we may charge
the customer.
- For the detail, can you show me the recorded transaction from one of the
AA’s customer?
- Yeah, of course.. Do you want to see the transaction from the big or
small customer?
- Its up to you, I’m ok with it, I just wanna see the journal..
54
- The recent transaction, right? From the October’s transaction if you are
ok with it?
- Yeah, sure.
- This is the transaction with PT. Komatsu, wait, its still loading..
- Yea, yea its ok..
- Aah, this is it. They sent us the purchase order last month, on 9th. You
can see in the paper it still contains of so many scratches, I usually make
sure the the order listed will not change again. I asked them to confirm
their purchase order through the email to prevent any miscommunication.
After they confirmed, I will forward it to the finance department to be
proceed. For the detail you may go to the upstairs and ask it to the finance
ya. This is also the example of the delivery order form contains of the list
that we sent to the customer. We sent our products to PT. Komatsu on
October, and here is the invoice.
- Why it took a month to send them your products? Is it taken a long time
to process?
- Yeah..because of..hmm..wait I try to remember it.. Ah, the customer is
already sent us the Purchase Order, it took a week to confirm their fix
order. We are communicating it through the email, and then it took days
also for the internal approval order. Oh ya, it took a week also for process
the tax invoice from the tax division since we had a little crash in our
system. When I discuss it with the customer, they are oke with that since
they said that they could pay for their order in the end of the October.
- Oh..who will receive the payment from the customer? Was it to the PT.
Robert Bosch immediately or to the finance business unit?
- Of course they make a payment immediately to PT. Robert Bosch, AA
division was just like the mediator between the company and customer.
All of the payment will be through the bank on behalf of PT. Robert
Bosch. But still, we control and record it.
- For the big order which have the big amount to be paid like this
transaction, do they pay in full or do an installment?
- We had an agreement with our customer. For this transaction they to a
pay off and we record it like this. We have agreed that they will pay 50%
from he total in the end of November like you can see here, we state the
term of payment is 30 days.
- What if the buyer is late paying off the payment?
55
- We will ask its customer to pay for it, of course.. But still in a good ways
such as email and make a call to their finance department...
- Oh I almost forgot to ask you, who will deliver the products to the
customer?
- Usually it is sales that will be directly related to our customer. They will
handle it.
- Ok, I think that I got enough information so far, I highly thank you for
the time, and may I call you in another time if I have another question?
- Ya sure, but maybe a little bit late respon ya because as you know, this is
a closing season.
- Ok, thanks a lot.
56
Appendix 5
Interview with PT (Power Tools) associate
*perkenalan*
- Udah lama ya kamu?
- Engga kok mba hehe
- Iya kamu mau nanya soal apa nih
- Related to revenue mba, gimana flow penjualan, recordingnya, sampai
penyelesaian pembayaran mba
- Kalo sistem penjualan disini saya rasa sama ya dengan divisi lain. Ya
meskipun jualannya beda, customernya beda, tapi reportnya sama, ya
amountnya paling yang beda.
- Boleh tolong dijelasin ga mba kalo PT itu system penjualan sampe
pencatatan pendapatannya gimana?
- Kalo divisi Power Tools kan handle consumer goods, itu kayak semacam
bor, alat alat berkebun, and so on..nah jualan kita biasanya langsung
banyak gt ke customer, customer kita juga jarang ya kalo perorangan,
customer kita banyakan company, ya walaupun kita jualannya sebenarnya
lebih ke alat alat yang biasanya dibutuhin perorangan, tapi untuk Robert
Bosch Indonesia kan mungkin belum terlalu luas kerjasama nya dengan
supermarket, makanya company customer kita biasanya yg jadi semacam
reseller kali ya sebutannya, ada juga yang buat bisnis mereka since mereka
service company..Kita kan ada sales, biasanya kita dapat customernya
banyakan dari sales, karena mereka bisa promo langsung..nah kalo
customernya dapet, di daftarin dulu ke finance. itu company apa,
alamatnya dimana, nanti kalo udah lengkap data nya, mereka bisa order.
Bentar ya saya print in dulu contohnya biar enak jelasinnya.. Nah ini kan
ini ada list nya, ini ada invoice nya juga. They will send us a purchase
order, diproses tuh ama finance lagi, nanti kan pendapatannya juga finance
yang record..
- Oh, kalo untuk PT sendiri, jadi pendapatannya di manage ama finance
langsung ya mba?
- Kita juga ada record nya, dari catatan yang kita punya itu juga jadi bahan
weekly meeting untuk divisi kita, untuk evaluation financing divisi kita
sendiri..
- Kalo untuk record revenue nya nih mba, itu jurnal nya langsung dari PT
sendiri apa gimana mba?
57
- Oh engga, jadi kalo financing report dari divisi PT, gimana recording
nya kita itu ya untuk kita sendiri, kalo sampe ke jurnal gimananya, itu
finance langsung sih untuk yang lebih formal nya.
- Oooh, terus lanjut yang tadi mba, after customer PT send purchase
order, internal flownya gimana lagi mba?
- Iya, setelah customer PT send purchase order, kan harus release Sales
Order, itu diurusnya ama finance dan biasanya sehari doang, abis itu baru
kita kirimin barangnya, lengkap sama invoice nya. Tetep bakal kita email
juga customernya..
- Untuk pembayarannya sendiri gimana tuh mba?
- Pembayaran itu melalui bank, customer akan transfer langsung ke bank
company yang atas nama PT. Robert Bosch, atau bisa juga pake giro, tapi
kalo pake giro kan kita nerima nya 1-3 hari. Nanti kalo udah nerima
pembayaran aka nada notifnya dari finance sendiri. Kebetulan customer
yang ini kan perjanjiannya dia akan bayar within 30 days, dan ga langsung
semua juga..dia akan nyicil setiap bulannya.
- Penagihannya ke customer itu tugas siapa mba?
- Since kita di bosch itu ada slogan “we are bosch”, jadi sebenernya kalo
penagihan itu tugas finance, dibantu dengan business unit yang
membawahi transaksi dengan customer yang akan ditagih. Jadi kita help
each other sih..
- iyasih, sebelumnya juga saya udah interview dengan bagian AA division,
memang pada dasarnya sama ya mba flow penjualan, dan pencatatannya..
- Memang seperti itu, pada dasarnya kan kita tetap satu company,
walaupun beda business unit, kita tetap harus punya tingkat compliance
yang tinggi, ikutin aja sistem company..Kita jualan juga paling barangnya
kan yang beda, mungkin the way we treat our customer juga beda ya, tapi
balik lagi sih, internal system nya sama aja.
- Hmm, baik mba, terimakasih banyak ya atas waktu yang sudah
diluangkan untuk saya, saya rasa cukup informasi yang saya dapatkan..
- Iya sama-sama ya..
58
Appendix 5 - translation
Interview with PT (Power Tools) associate
*introduce*
- Yes, what is all about?
- Related to revenue Ms, sales flow, how PT. Robert Bosch record it, and
the payment process.
- Talking about the sales process, it is all similar with the other business
unit. Although we sale different kind of goods, different customer of
course, but for the reporting and procedure are same.
- Can you please explain about it according to the Power Tools
realization?
- Power Tools handle the customer goods such as drill, gardening tools,
and so on..and we sale our products to the cutomers in such a big amount
because PT division rarely have an individual customer, usually our
customer is another service company. We have sales team and usually got
a purchase order from our sales’ customers. But before one company be
our customer, finance wil analyze it and compile their data and register it
to our system. Finance will need the company’s name, company’s address,
and etc. Wait..I’ll print one transaction so I can explain it to you easly.
You can see in the paper that there is a list of their purchase order along
with the invoice. First, they will send us the purchase order, finance will
process the PO and after that we make the invoice to charge them.
- Oh, for Power Tools division, the revenue was recorded and managed by
the finance department?
- Of course we record our sales also.. Power Tools business unit also have
one finance that will record our sales and we have a weekly meeting for
our division, for our finance evaluation..
- Does the Power Tools business unit create the journal transaction?
- Oh no we’re not, financing report from Power Tools business unit is just
for our divisional report. For the journal and something like that, I think it
is create by the finance department.
- Oooh, I see. After the customer send the purchase order to Power Tools
division, how about the internal flow?
- Ya, after the customer sent us the purchase orderm there must be sales
order to be realesed from the finance department before we deliver the
goods or make an invoice. Usually to release the sales order just takes a
59
day and then we can process the transaction. And also we email the
customer about the status of their purchase order.
- How about the payment?
- The payment can be confirmed through the bank transaction. Our
customer will transfer the money on behalf of PT. Robert Bosch, or it can
be through the giro also. But for the giro transaction, it will take around 3
days before we received the money. If we had received the money, finance
will give us the notification about the payment status. The agreement of
the payment with this customer is within 30 days.
- Who will communicate with the customer about the payment?
- The business unit that sale their products with the customer, and also
Account Receivable division. Since we have a slogan “we are bosch” so
we help each other to reach our goals.
- Oh I see..I have interviewed one of the AA associate and basically sales
flow, recording, and payment procedure was similar one and another..
- Yes it is.. Although we are in a different business unit and have a
different amount of our goal, we still in one company, and have high
compliance. Maybe because we have different products to be sold, then we
treat our customer differently, but back at the first rule, we’d still have
similar internal system.
- Hmm, ok Ms, I highly thank you for the time, I think I had enough
information so far..
- Iya your welcome ya..
60
Appendix 6
Interview with ST (Security System) associate
*perkenalan*
- Maksud kedatangan saya kesini untuk melakukan interview dengan
bagian business unit, ST division, seperti yang telah saya lakukan
sebelumnya dengan AA dan PT business unit beberapa hari yang lalu.
Saya ingin mengetahui informasi yang terkait dengan revenue yang nanti
akan saya analisa dan compare dengan PSAK 23.
- Terkait dengan revenue..berarti tentang penjualan ya?
- Betul mba, hmm..pertama-tama, bagaimana sistem promosi dari ST
untuk menarik customer mba?
- Pendapatan terbesar di ST division itu kebetulan sebagian besar dapat
dari sales ya..sales kita yang gencar cari customer, bukan hanya di Jakarta,
tapi juga Surabaya, Medan, dan di kota besar lainnya. Sales kita
menjelaskan langsung kelebihan produk Bosch, benefit yang didapatkan
oleh customer, sampai dengan berbagai promo lainnya. Selain itu juga
Bosch biasanya berpartisipasi di berbagai pameran ya terakhir itu di
kemayoran, kalau yang ini tapi bukan hanya ST division saja, tapi semua
business unit di PT. Robert Bosch juga.
- Iya mba, untuk system penjualan ST, dari penerimaan purchase order
dari customer sampai pencatatan revenue, itu bagaimana?
- Untuk ST business unit seperti nya berbeda ya dengan business unit
lainnya. Saya tidak tau detailnya kalo kamu nanya perbedaannya. Jadi
khusus ST ini jualannya seputar home appliance, secutity system sesuai
dengan nama divisi kita, juga menjadi focus untuk divisi ini sendiri. ST
division sebagian besar tidak hanya menjual barang dan sekedar
mengirimkan barang jualan ke customer, tapi kita lebih ke project.
Misalnya ada PT.A, purchase CCTV, tentunya juga tidak 1 2 pcs ya, itu
biasanya sekalian dengan pemasangannya..
- Oh, jadi khusus untuk ST ini seperti service business unit ya mba?
- Bukan yang literally service business unit, karena kalo service nantinya
akan dikenakan WHT, disebut project karena khusus untuk penjualan
barang dari ST division, transactionnya tidak hanya sampai mengirimkan
barang ke customer..karena kan misalnya CCTV itu ada sistemnya sendiri,
dari pemasangannya, controllernya, and so on. Jadi guna mempermudah
client kita, sales atau orang yang lebih tau seputar barang jualan kita is the
one who responsible to guide the customer dalam pengoperasian barang
tersebut.
61
- itu berarti menjadi tugas tambahan khusus untuk sales ST nya ya mba
untuk pemasangan dll? Mereka ada training atau gimana mba?
- Jadi kita semua sebenarnya wajib mengikuti training untuk lebih
memahami produk kita, pemasangan dan service yang tadi saya maksud
itu melalui dealer resmi yang bekerjasama dengan PT. Robert Bosch.
That’s why di invoices yang kita keluarkan juga tidak ada wht.
- Untuk system pembelian barang PT. Robert Bosch sendiri bagaimana
mba?
- Ya kayak yang lain sih, client kita akan mengirimkan purchase order,
lalu kita telfon jika ada informasi yang kita perlukan, buat invoice,
pengiriman dan pemasangan barang, lalu tunggu pembayaran sesuai
dengan kesepakatan.
- Oh jadi untuk pemesanan sendiri sama hal nya dengan business unit yang
lain ya mba?
- iya..seperti itu.
- Tadi mba sempat membahas kesepakatan, itu maksudnya apa ya?
- Oh itu terkait waktu pembayaran, jadi ada yang sepakat menyelesaikan
pembayaran within 30 days, sampai 60 days. biasanya beda beda each
customer.
- Selain perbedaan dalam hal penjualan tadi, perbedaan ST dengan
business unit yang lain apa lagi mba?
- ST punya record system sendiri, setau saya revenue ataupun liability dari
business unit yang lain dicatat dalam system SAP dengan kode PCD,
sedangkan ST di PC4. Ini saya maksudnya pencatatan di bagian finance
ya, lebih detailnya kamu bisa tanya ke bagian finance saja.
- Oh iya mba, terimakasih ya atas bantuan dan ketersediannya untuk saya
interview.
- Oke, sama-sama.
Appendix 6 - translation
Interview with ST (Security System) associate
*introduce*
- I would like to interview the business unit’s associate, Security System
business unit, same procedure that I have done with AA and PT business
unit in a previous days. I would like to know the infomations relate to
62
revenue which later I will analyze and compare with the rule of PSAK No
23.
- Related to the revenue…is about the sales transaction, isn’t it?
- That’s right. Hmm..first, how is the promotion system done by the
Security System business unit?
- Major income of Security System business unit is came from the sales
team ya maybe it is the same with the other division, our sales team is
active to attract buyers, not just in Jakarta, but also in Surabaya, Medan,
dan another big city. Our sales team explained and promoting our
products’ directly to our customer. Other than that, Bosch also participated
in a various exhibitions, yesterday was in Kemayoran,
- Wow sounds good. For Security System business unit, how was the flow
from received the customers’ orde, until received the payment?
- For the ST business unit, it’s a quiet different with the other business
unit. I don’t really know for the detail but..Security System’s products are
home appliance products, security system like our division’s name, also
become the focus of our division. ST division mostly not just sells the
goods and sends it to the customer, but we run it as a project. Let’s say PT.
A purchase CCTV, of course not only 1 or 2 pcs, we will do the
installation until our product is ready to use.
- Oh, is it special just for ST’s products? So it is like a service business
unit?
- No, we are not a service business unit. It is a project special for our
products which need a special treatment. Like CCTV which have a
different installation procedure with the other product, its controller, and
so on. Thus to attract our client, our sales team or the one who understand
our product’s specification are one who responsible to guide the customer
with our product’s operation.
- That means sales team of Security System has more jobdesc? Are they
having training?
- Yes of course we all are have to join the annual training. So we are all
have to join the training to understand more about our products. For the
installation and service itself, it was done by our authorized dealer that
cooperates with PT. Robert Bosch. That’s why our projects was not
deducted with withholding tax (WHT).
- How about purchase procedure when customer wants to buy the Security
System products?
63
- Ya similar with the other, our client sent us the purchase order, and then
we call them to make sure that there is no change in their order, we make
an invoice, delivery the products and do an installation, and waiting for
their payment.
- Oh so for the order procedure, it was similar with the other business unit,
right?
- Ya.. it is.
- For the payment agreement?
- Oh yes for payment agreement, there are customers that agreed to make a
payment within 30 days until 60 days. Different each customer.
- Besides the difference in terms of sales before, is there another
difference?
- Security System has our record system. As far as I know, revenue and
liability from our division recorded in SAP software in a different system.
If another business unit recorded in code PCD, our transaction recorded in
PC4. But for the detail, you may ask directly to finance department ya..
- Oh ok Ms, thanks a lot for your time and the availability for this
interview.
- Oke, your welcome.
64
Appendix 7
Interview with AR (Account Receivable) associate
- Maaf ya saya agak lama, saya ada meeting dulu tadi
- Iya mas gapapa, maaf ya jadi keganggu..
- Iya gapapa, jadi gimana nih?
*perkenalan*
- Gausah english ya, nanti kalo saya gabisa jawab gimana hehe
- hehehe oke mas, jadi saya mau interview soal pencatatan dan pengakuan
pendapatan di PT. Robert Bosch mas, nanti akan saya analisa dan di
compare dengan PSAK 23. Jadi kan saya sebelumnya udah ada interview
dengan AA, PT, dan ST division membahas flow penjualan mereka dan
dikasih sample juga satu customer per divisi. Since I had enough
information related to the internal flow from the business unit, saya juga
mau tau nih mas bagaimana pencatatan pendapatannya di bagian
financenya langsung. Kalo boleh juga juga saya liat sistem nya gimana
mas..
- Oke boleh, saya nunjukin ke kamu data yang dari business unit yang
udah kamu interview aja ya..nanti kita buka sama2 di SAP nama
customernya.
- Hmm, yang mana ya mas, ini aja yang lengkap customernya AA, PT.
Komatsu.
- Sebentar ya…saya cari dulu. Itu invoice date nya kapan?
- 31 october 2017. Oiya, di PT. Robert Bosch ini mengakui revenue
dengan metode cash basis atau accrual basis ya mas?
- Metode accrual basis, karena kita sudah mencatat revenue/income pada
saat terjadinya transaksi, dari awal gitu..Yang ini ya? Coba kamu cocokin
dulu.
- Liat totalnya yang ini ya mas?
- Betul sekali. Nah ini kan kamu liat total nya disini..dibawahnya ada
jurnal nih yang ini..itu breakdown paymentnya. Dalam kasus ini, PT. K ga
langsung bayar lunas, dia nyicil. Jadi pas tanggal segini dia ada bayar
segini. Terus bayar VAT nya juga 10%. Terus pas desember baru closing
payment nya lunas gt disini.
- Semua customer bisa bayar nyicil gini ya mas?
65
- Engga dong, each customer bakal beda-beda payment nya, depends on
the agreement dengan business unit yang jualan. Itu kan ga semua juga
term of payment nya sama. Kebetulan aja ini 30 days, ada juga yang 45
days 60 days 90 days paling lama.
- Oiya mas, sebelumnya saya udah dijelasin internal flow orderan
customer dari business unit, kalo boleh jelasin mas flow di finance nya
sendiri itu gimana hehe
- Hmm, biasanya sih saya nerima purchase order dari sales division ya,
yang kayak AA itu tadi misalnya..untuk release Sales Order. Kalo SO
release sih biasanya cepet ya paling 30 menitan lah. Setelah SO released
baru kabarin sales divisionnya kalo udah udah bisa ngirim barang sama
buat invoice. Nah untuk invoice sendiri juga harus ada faktur pajaknya kan
karena kita jualan, makanya kena 10%. Faktur pajaknya mereka harus
minta ke bagian tax. Biasanya ke ini nih ke amal, intern tax.
- Oh iya mas, mereka jelasin juga kalo harus ke bagian pajak. Related to
SO release, itu ngapain aja mas?
- Actually saya ngecek credit limit customer nya sih. Jadi misalnya nih PT.
K tadi mau purchase lagi, tapi dia masih ada utang sama kita, make sure
lagi utangnya itu ngelebihin credit limit apa engga. Kalo udah lewat credit
limit, otomatis kita ga ngasih dong, dia harus menyelesaikan previous
payment dulu.
- Credit limit per customer di PT. Robert Bosch berapa mas kalo boleh
tau?
- Customer satu dengan yang lainnya has a different amount of credit
limit..Bukan ditentukan gitu aja, kan each customer juga purchase nya
beda beda.
- Oh iya ya mas. Jadi dengan SO released, baru ketahuan ya purchase
order dari customer itu accepted or not. Kalo jurnal pencatatan
pendapatannya gimana?
- Kalo jurnal nya ya kita kan udah pake SAP software, sama aja
sebenernya dengan teori yang kamu dapat di kelas. Ada debit ada kredit.
Cuma kan mungkin di kelas kamu diajarinnya cash to revenue, atau
apa…Di PT. Robert Bosch kita liat nya tuh gini..ini yang paling ujung,
kode 40 atau 01 itu means debit, bisa diliat juga di amount nya disini kan
ga ada tanda min nya kan, kode 50 ini baru kredit, nih ada min nya. Disini
juga dicatet nya bank to sales delivery and liability VAT output. Sama aja
kayak bank to revenue cuma kan kita perlu catetnya lebih detail aja..
- Untuk pencatatannya juga bukan dicatat sebagai unearned revenue ya?
66
- Hmm, gimana ya. Kita sih nyatetnya begini, tapi sama aja dengan
unearned revenue. Soalnya kan ini ada hijau merah nya juga, tetap kita
akui sebagai revenue dari awal, tapi diterima/engga nya duit nanti
ketahuan sesuai dengan record SAP system ini. Kalo masih red light it
means masih belum kebayar, nanti kalo udah lunas baru greenlight. Dari
record per customer kan juga keliatan sebenernya mereka punya CN
(Credit Limit) atau tidak, itu kan mempengaruhi juga..
- CN itu mksudnya kalo customer ada simpen uang disini ya?
- hahaha..bukan save their money istilahnya, jadi sometimes ada customer
yang lebih bayar, nah dari over paymentnya mereka itu yang kita record as
a credit notes.
- Kok bisa over payment ya mas? Kan everytime we send an invoice to
customer, amountnya udah state di situ. Human error atau emang sengaja
mas?
- Well, PT. Robert Bosch punya customer tetap yang biasanya memang
sengaja melebihkan amount yang mereka transfer dikarenakan customer
tersebut estimate akan beli lagi beli lagi, dalam rentan waktu yang
jaraknya tak terlalu lama, tapi tidak ingin disatukan juga invoicenya. Maka
dari itu, mereka lebih bayar untuk memudahkan finance system mereka,
dan jika terjadi penagihan lagi, tinggal di potong dari amount CN mereka.
- Terkait dengan red light nih mas, masalah penagihan, apa benar yang
biasanya dilakukan oleh Account Receivable divison?
- Iya, saya biasanya tuh ngecek customer yang belum bayar, ada recordnya
disini, biasanya sih saya email contact person yang ada tercatat di master
data kita. Kalo mereka ga bales email, biasanya saya telfon terkait status
pembayarannya. Biasanya dibantu sales division nya juga sih since mereka
yang jualan..
- Untuk pencatatan pendapatan dari ST division katanya beda ya mas?
Maksudnya beda di sistem SAP nya saja atau ada hal lain yang
membedakan?
- Khusus ST division, semua income dan outcome akan di record di SAP
dengan jendela yang berbeda. Jadi dimasukin dulu di PC4, nanti akan di
bridging ke PCD. Itu karena system financing untuk ST berbeda dengan
yang lainnya. Kalau masalah jurnal, sama kok dengan yang lainnya.
- Oke, terimakasih atas explainationnya mas.. Oiya mas, tanggal closing
entries disini the end of the month ya?
- Betul sekali, ada lagi pertanyaannya?
- Udah sih mas, informasi nya udah cukup..mas abis ini ada kegiatan ya?
67
- Iya mau SO release ini.
- Terakhir mas, boleh liat ga proses nya gimana? Hehe
- Boleh, jadi gini. Ini kan ada purchase order nih, kayak gini kertasnya.
Ada list kan ini apa aja yang dia mau beli. Terus diitungin harganya
berapa, totalin. Buka di SAP kayak gini, liat nah ini kebetulan dia ga ada
utang sama kita, transactionnya udah green light semua. Ini di approved,
klik yang ini. Udah. SO released. Ini kan kebetulan dari AA juga nih.
Mereka nanti tinggal buat DO ama invoicenya. Udah deh saya tinggal
tunggu pembayaran.
- Oke..thanks a lot ya mas atas waktunya..Maaf nih ngerepotin..
- Oh iya gapapa, goodluck ya thesis nya.
68
Appendix 7 - translation
Interview with AR (Account Receivable) associate
- I am sorry it took a long time, I have to attend the meeting first.
- Ya ya, Sir. Its ok.
*introduce*
- Ok we but can we just using bahasa?
- Hehehe yes of course, so I would like to interview you about the revenue
recognition and measurement done by PT. Robert Bosch that later will I
analyze and compare with the rule of PSAK No. 23. I have interviewed
associate from AA, PT, and ST division about the sales flow and already
given the sample document. Since I had enough information related to the
internal flow from the business unit, I also would like to know how the
recognition of revenue itself directly from the finance department. May I?
- Oke sure, I can show you the journal for the transaction that you have
already given from the business unit itself ya, we can open the SAP
together.
- Hmm, which one? Ah, this. PT. Komatsu, AA’s customer.
- Give me sec ya…I’ll find the data. When is the invoice date?
- October, 31st 2017. Oiya, in PT. Robert Bosch is recognized the revenue
with cash basis or accrual basis method?
- Accrual basis method, which we recognized the revenue when the
transaction happened. This one, right? You can match it.
- This one is the total for the transaction, right?
- You’re right. You can take a look here for the total, and the journal is
providing below, that is the payment breakdown. For this case, PT. K was
doing pay off (installment). You can see through the date of the payment,
and then there is the VAT 10% recorded separately, and at the end of
December is the final payment for that transaction.
- Did all the customer can do a payment through the installment like this?
- Of course not, each customer has a different payment method, different
term of payment, depends on the agreement with us.
- Oiya Sir, I have already being explained about the internal flow
customer’s order from each of the business unit, would you please explain
to me the procedure for the finance department?
69
- Hmm, usually I received the purchase order from the business unit, like
AA for the example, and then I have to release the sales order. Sales Order
usually released around 30 minutes. After SO released, I will give it back
to the business unit and they will send the goods and also make the
invoice. For the invoice, it must have the tax invoice, right? It’s a VAT
10% and given from our tax division. Usually from Amal, intern tax
division.
- Related to sales order, how is the process until its released?
- Actually I’m checking the credit limit of each customer. In case PT. K
wants to purchase again but they still have payment to be paid to us, I have
to make sure that the credit was not exceed their credit limit. If it is
exceed, we ignore the next purchase automatically.
- How much the credit limit per customer?
- One customer has a different amount of credit limit with another. Not
settled the amount for all of the customer since their purchase also
different.
- Oh I got it. So when SO released, we known that purchase order from the
customer is accepted or not. How about the journal of its revenue?
- We have recorded the journal in SAP software, you can take a look for
the journal is actually same with the theory you have got in class. Debit
and credit. But if theory was like cash to revenue, in PT. Robert Bosch we
make it like this.. code 40 and 10 means debit, you may see also here that
there is a min beside the amount. Here is recorded as bank to sales delivery
and liability VAT output, same as bank to revenue but we just recorded it
with more detail name.
- So the revenue should not be unearned revenue?
- Hmm, I don’t really know about the theory, hehe. But we have the green
and red light here. If it is still red light, means the revenue is not earned
yet. If the finance is already received the payment, then it turned green.
From the SAP software also we have the status of credit limit of our
customer, it affects too.
- Is that CN means the customer have overpayment?
- Hahaha..yes. So sometimes, there is a customer with overpaid
transaction, and from their overpayment, we record it as their credit notes.
- How come a customer could overpay? I think that every transaction must
have the invoice and must have the exact amount to be paid in the total.
Was it a human error or interntional?
70
- Well, PT. Robert Bosch have the regular customer and it become a
common thing that they intentionally overpaid their transaction since the
customer have their estimation for tre future transaction. Other than that,
they expect less of penagihan in the future, they want to order and cut the
total amount with their CN.
- Speaking of red light, is it true that the one who responsible to remind the
customer to pay was Account Receivable?
- Yes it is. I usually have to check the unearned transaction, the records are
completely here. First I send the email to the contact person listed in the
master data of the company. If they don’t reply my email, I surely call
them to remind them about the payment status. Usually I am being helped
with the sales tem since they can communicate with our customer directly.
- Is it true that the Security System’s transaction was recorded in a
different way in SAP software?
- Special for the Security System business unit transaction, either inflow or
outflow recorded in SAP software in a different book. First we sign in
PC4, and we bridging it into the PCD which is same like the other
business unit transaction. That was because of the finance system of
Security System division is different. For the journal itself, its all the same.
- Oke, thank you so much for the explanation. Oh for the closing entries
PT. Robert Bosch was in the end of the month, right?
- Yes, you’re right. Do you have any other question?
- No, its enough, I had enough information I’m sorry if I’m bothering you.
Do you have a meeting after this?
- I have to release Sales Order (SO)
- Hmm.may I see the process?
- Yes of course..here you go. So this is the customer’s purchase order, like
this, which is contains of the list of the goods they wanted to buy. You can
calculate how much the total price. Sign in into the SAP software like this,
and as you can see here, he does not have any debt to us, all of the
transaction was in a green light whisch means all of the transactions
completed. Approved this, click here. Done. Sales Order released. This is
AA’s customer also, they can make the delivery order and its invoice and I
just sit here and waiting for their payment.
- Oke..thanks a lot ya, Sir. I’m so sorry that I’m bothering you.
- No, It’s ok.. goodluck for your thesis.
