I Gusti Ayu Aagung Tata Intan Tamara 1607531009

Alit Wahyuningsih 1607531041

SFAC NO. 5 and SFAC NO. 6

SFAC No. 5: Recognition and Measurement in Financial Statement by
Business Enterprises and
In SFAC No. 5 stated that the criteria used to follow the elements of the
financial statements are based on the following four factors:
1. Definitions: to be recognized in the financial statements (as assets, debt
and capital) an estimate must meet the definition of the financial
statement element in SFAC No.6.
2. Measurability: to be recognized in financial statements, an estimation
must have relevant attributes that can be measured in monetary units with
adequate reliability.
3. Relevance: information must have feedback value or predictive value for
the user and must be on time.
4. Reliability: information must be presented honestly, verifiably and
accurately and not biased so that it can be used in decision making.
Reliability affects the measurement time.
Five measurement that can be used to determine the value of assets and debt,
namely: Historical cost (historical proceeds), Current cost, Current market
value, Net realizable (settlement) value, Present (or discounted) value of future
cash flows.
SFAC No. 6 Elements of Financial Statement of Business Enterprises
SFAC No. 6 explain the definition of 10 elements of financial statements;
a Assets are economic benefits that may occur in the future that are acquired or
controlled by a particular entity as a result of past transactions or events.
b. Liabilities is a sacrifice of economic benefits that may occur in the future that
comes from the present obligation of an entity to transfer assets or submit
services to other entities in the future as a result of past transactions.
c. Equity is the residual interest in an entity's assets after deducting debt. In a
business enterprise, equity is equal to owner's rights.
d. Investment by owners is an increase in net assets of a company that comes
from the transfer of another entity to the company for something of value to
obtain or increase ownership rights (or equity) in the company.
e. Distribution to owners is a decrease in net assets of a company originating
from the transfer of assets, delivery of services, or additional debt by the
company to the owner.
f. Comprehensive income is a change in equity (net assets) of an entity during
a period.
g. Revenue is the inflow of an entity's assets or a decrease in an entity's debt (or
a combination of both) during one period.
h. Expenses are outflows or use of assets of an entity, or additional debt of an
entity (or a combination of both) during a period.
i. Gain is an increase in equity (net assets) from an entity's incidental
transactions and comes from all transactions.
j. Losses are decreases in equity (net assets) from incidental transactions of an
entity and originate from all transactions.

Q : Is there any relationship about equity theories behind the elements of financial
statements according to SFAC No. 6?
 I Gusti Ayu Aagung Tata Intan Tamara 1607531009
Alit Wahyuningsih 1607531041

A : SFAC No. 6 mendefinisikan equitas sebagai sisa kepemilikan.

Bagaimanapun sisakepemilikan yang diuraikan di dalamnya tidak sama dengan
equitas sisa yang didefinisikan diatas. Pengertian ini lebih pada perbedaan antara
aktiva dan kewajiban. Konsekuensinya,berdasarkan SFAC No. 6, definisi dan
karakteristik ekuitas bergantung pada definisi dankarakteristik aktiva dan
kewajiban. SFAC No. 6 mendefinisikan ekuitas secara keseluruhan tidak
mendefinisikan sifat dari elemen-elemen ekuitas. Ini sejalan dengan catatatan
bahwa perusahaanmungkin memiliki lebih dari satu kelompok ekuitas, seperti
saham biasa dan saham preferren.Ekuitas didefinisikan sebagai perbedaan
antara aktiva dan kewajiban, dan kewajibandidefinisikan sebagai kewajiban
untuk menyerahkan aktiva atau menyediakan jasa kepada entitaslain di masa
yang akan datang sebagai hasil dari transaksi atau kejadian di masa
lalu.Konsekuensinya, berdasarkan definisi SFAC No. 6, perbedaan antara
kewajiban dan ekuitasadalah ekuitas tidak mewajibkan entitas untuk
menyerahkan sumber daya masa datang ataumenyediakan jasa. Tidak ada
kewajiban untuk membagi sumber daya kepada pemilik ekuitassebelum
diumumkan oleh dewan direktur kecuali jika entitas dilikuidasi.

Q : Is there any relationship about equity theories behind the elements of financial
statements according to SFAC No. 6?