Self Test Questions Penyajian Laporan Keuangan (psak 1)-mhs

Self Test Questions PENYAJIAN LAPORAN KEUANGAN (PSAK 1) 1. Are the following statements in relation to materiality true or false, according to PSAK 1 Presentation of financial statements? (1) Materiality of items depends on their individual or collective influence on the economic decisions of users. (2) Materiality of an item depends on its absolute size and nature. Statement (1) Statement (2) A False False B False True C True False D True True Analysis Jawaban (C) True False Materiality of items depends on their influence on users' economic decisions. Materiality of an item depends on its relative, not absolute, size. (See PSAK para 7) 2. According to PSAK 1 Presentation of financial statements, the notes within the financial statements contain information in addition to that presented in which TWO of the following? A Report on sustainability B Chairman's statement C Statement of financial position D Statement of financial performance Analysis Jawaban (C) dan (D) PSAK para 103 states that notes "...disclose information ... not presented elsewhere in the financial statements." C = Balance sheet D = Income statement 3. Are the following statements true or false, according to PSAK 1 Presentation of financial statements? (1) Dividends paid should be recognised in the statement of comprehensive income. (2) A loss on disposal of assets should be recognised in the statement of changes in equity. Statement (1) Statement (2) A False False B False True C True False D True True Analysis Jawaban (A) False False A loss on disposal of assets is recognised in the statement of comprehensive income because PSAK 6 Property, plant and equipment does not permit otherwise (PSAK para 88). Dividends paid are recognised in the statement of changes in equity (PSAK para 106). 4. Are the following statements true or false, according to PSAK 1 Presentation of financial statements? (1) Provisions should be recognised in the statement of financial position. (2) A revaluation surplus on non-current assets should be recognised in the statement of changes in equity. Statement (1) Statement (2) A False False B False True

C True False D True True Analysis Jawaban (C) True False Provisions should be recognised in the statement of financial position (PSAK para 54). A gain is part of income which should be recognised in the statement of comprehensive income (PSAK para 81). 5. According to PSAK 1 Presentation of financial statements, which TWO of the following must be included in an entity's statement of financial position? A Investment property B Number of shares authorised C Provisions D Shares in an entity owned by that entity Analysis Jawaban (A) dan (C) The correct answers are A and C. See PSAK para 54. The information about 2 and own shares held (4) MAY be presented in the statement of financial position, the statement of changes in equity OR the notes (PSAK para 79). 6. According to PSAK 1 Presentation of financial statements, which TWO of the following must be included in an entity's statement of financial position? A Cash and cash equivalents B Property, plant and equipment analysed by class C Share capital and reserves analysed by class D Deferred tax Analysis Jawaban (A) dan (D) The correct answers are Cash and cash equivalents and Deferred tax. See PSAK para 54. Analysis by class MAY be presented in the NOTES (PSAK para 78). (q) non-controlling interests, presented within equity; and (r) issued capital and reserves attributable to owners of the parent. 78 The detail provided in subclassifications depends on the requirements of IFRSs and on the size, nature and function of the amounts involved. An entity also uses the factors set out in paragraph 58 to decide the basis of subclassification. The disclosures vary for each item, for example: (e) equity capital and reserves are disaggregated into various classes, such as paid-in capital, share premium and reserves. 7. Which TWO of the following are included in a complete set of financial statements, according to PSAK 1 Presentation of financial statements? A A statement by the board of directors of compliance with local legislation B A statement of changes in equity C Summarised statements of financial position for the last five years D A statement of cash flows Analysis Jawaban (B) dan (D) PSAK para 10 lists the statements that must be presented. 8. Are the following statements true or false, according to PSAK 1 Presentation of financial statements? (1) Biological assets should be shown in the statement of financial position.

(2) The number of shares authorised for issue should be shown in the statement of financial position or the statement of changes in equity or in the notes. Statement (1) Statement (2) A False False B False True C True False D True True Analysis Jawaban (D) True True Biological assets should appear in the statement of financial position (PSAK para 54). PSAK para 79 governs the presentation of the number of shares authorised. 9. Are the following statements true or false, according to PSAK 1 Presentation of financial statements? (1) An entity presenting a single statement of comprehensive income should present a statement of changes in equity (2) An entity presenting a separate income statement and a statement of comprehensive income should present a statement of changes in equity Statement (1) Statement (2) A False False B False True C True False D True True Analysis Jawaban (D) True True A statement of changes in equity should always be presented, per PSAK para 106. *The revised version of IAS 1 (issued in 2007) permits a choice of how to present comprehensive income by using either a single statement or two separate statements. 10. In which section of the statement of financial position should cash that is restricted to the settlement of a liability due 18 months after the reporting period be presented, according to PSAK 1 Presentation of financial statements? (select one answer) A Current assets B Equity C Non-current liabilities D Non-current assets Analysis Jawaban (D) Non-current assets Cash that is restricted from being used in the settlement of a liability for at least 12 months after the reporting period should be classified as a non-current asset per PSAK para 66(d).