AKUNTANSI LEASING - Akuntansi Bagi Penyewa (Lessee)

Summary

The video introduces lease accounting from the lessee’s perspective—that is, the perspective of the party renting an asset. It explains why businesses lease equipment rather than buy it, distinguishes finance leases from operating leases as presented in the lecture, and works through the accounting for each. Accounting from the lessor’s perspective is left for a later video.

Why businesses lease

Leasing can allow a company to use costly assets without making a large upfront investment. The lecture uses Garuda Indonesia’s aircraft as an example and notes that commonly leased assets include aircraft, vehicles, ships, trains, computers, and construction equipment.

Potential advantages of leasing include:

• Protection against obsolescence: A company may find it easier to switch to newer equipment when a lease ends.
• Greater financing flexibility: Leasing can avoid a large initial capital outlay.
• Access to specialist expertise: A company that does not specialize in maintaining an asset may find it more efficient to rent from a business that does.
• Tax and balance-sheet effects: These are mentioned as possible benefits, though the lecturer emphasizes that they depend on the company and circumstances.

The lecturer stresses that these benefits are relative: leasing is not automatically cheaper or better than buying.

The two lease-accounting approaches

The lecture contrasts two treatments:

• Finance lease: The lessee records a leased asset and a corresponding lease liability. It also recognizes depreciation on the asset and interest on the liability.
• Operating lease: In the simplified treatment shown, the lessee does not record the asset or a lease liability. Instead, it recognizes lease expense as payments are made or become due.

The lecture gives four tests for classifying a lease as a finance lease. Meeting any one of them qualifies:

1. Ownership transfers to the lessee by the end of the lease.
2. The lessee has a bargain purchase option.
3. The lease term covers most of the asset’s economic life.
4. The present value of minimum lease payments is close to the asset’s fair value.

If none of these tests apply, the lecture classifies the lease as an operating lease. The example lease is also described as non-cancellable.

Finance-lease example and calculation method

The example involves a five-year lease of a Toyota Alphard, with annual payments due at the beginning of each year. The annual payment is approximately Rp259.816 million, including Rp20 million in vehicle tax. The lease portion is therefore about Rp239.816 million. The asset’s fair value is Rp1 billion, its economic life is five years, and the discount rate is 10%.

The lease meets the finance-lease tests because its term matches the asset’s economic life and the present value of the lease payments is approximately equal to the asset’s fair value.

The calculation proceeds as follows:

• Exclude vehicle tax from the lease payments: approximately Rp259.816 million − Rp20 million = Rp239.816 million.
• Because payments are made at the beginning of each year, use the present-value factor for an annuity due.
• At 10% for five periods, the factor used is approximately 4.16986.
• Multiply the net annual lease payment by that factor to calculate the initial lease asset and liability—approximately Rp1 billion.

The lecturer emphasizes that the period and rate must match: monthly payments require a monthly interest rate and monthly periods, while annual payments require an annual rate and annual periods.

Finance-lease accounting steps

• At commencement: Record the leased asset and lease liability at the calculated present value.
• At each payment: Separate the cash payment into vehicle tax, interest (where applicable), and the amount reducing the lease liability.
• For the first payment: Because it is made at the beginning of the lease, no interest has yet accrued. The net payment reduces the liability; vehicle tax is recorded separately.
• At year-end: Accrue interest on the outstanding liability and record depreciation on the leased asset. The example uses straight-line depreciation over five years, or approximately Rp200 million per year.
• In the statement of financial position: Show the next year’s principal repayment as a current liability and the remaining liability as long-term.
• At the end of the lease: If the car is returned, remove the leased asset and its accumulated depreciation from the accounts.
• If the lessee buys the car: The lecture illustrates closing out the leased-asset accounts and recognizing the purchased vehicle. It says that if the asset’s useful life is extended to seven years, the remaining value is depreciated over the two additional years.

Operating-lease treatment and expense comparison

For the operating-lease example, the lessee records lease expense and a corresponding cash payment or payable, without recognizing the leased car or future lease obligation under the simplified treatment shown.

The lecturer compares the timing of expenses:

• Under the operating-lease example, the annual expense is roughly constant.
• Under the finance-lease example, total expense is higher in the early years because it includes depreciation, interest, and vehicle tax. Interest declines as the liability is paid down, so finance-lease expenses fall in later years.
• The lecture says the total expense over the full lease term is broadly the same under the two treatments, but the timing differs.

Figures in the example are rounded in the subtitles and may not add up exactly.

Learning approach

The lecturer recommends first understanding the underlying concept, then working through numerical examples. The stated rationale is that memorizing journal entries without understanding the classification and calculation logic may make the material harder to retain.

Speakers and sources featured

• Speaker: One lecturer/presenter, attributed to Muhammad Khafid by the channel.
• Sources or references mentioned: Kieso’s intermediate accounting material and an IDX Channel news item about Garuda Indonesia.
• Companies and products used as examples: Garuda Indonesia, PT Bluebird, Toyota, and Toyota Alphard and Fortuner vehicles. The lessee company’s name in the worked example is unclear in the auto-generated subtitles.