Question

Parti. Statements (10%) State whether you agree or disagree with the w omens Provide argumentation or description for each statement 1. Tax accounting is more conservative toward financial accounting 2. Information concering in the financ e ment to relevant for the investors, but only for a government 3. FAS basic principles that the company to the condition is certain until it can record the ransactions Part Cases 20% The cose PT Rin the year 2019 has a revenue amounted o n mounted Rp 50 billion. There were not credits for PT R. PT Ruted the m on time and paid any underpayment amount of tax on me. However,onun 2021 office conducting ta audit and the audit results indicated that there hadde d by and expenses had overstated by R o n 2023. The Notice of underment Assement P ang Baw R ecided to yo an objection, and later, the decision of an objection SOPKB by reducing the principal amount stated in Instructions: Provide journals to record transactions of recording the income tax payables, payment, the issuance of SKPKB, and issuance of Decision on Objections. Please show all of your calculations Journal without calculation will not be praded. Case 2 -20 PT G is a taxable entrepreneur (TE) that sells shoes. During the month of Rune 2019, PT Grecord shoes sales Rp. 750 milion, providing charity by wing free shoes amounted Rp. 50 million cost amount and export Rp 200 milion PT Garimports goodso ted Rp 400 milion, and paid several expenses and fees wject to VATO amounted Ro 150 milion PTG purchased Rp 200 million raw materials from Tand Rp. 75 million from non-TE Instructions Provide journals to record all transactions above, including was related to the VAT underpaid or overpaid. Please show all your calculations Journal without collation will not begraded Case -20% PT Harticipated in a tax amnesty program disco Keterangan Pengampunan Surat Keterangan was Rp. 10 bilion Libilities related to tam 70 in presenting the tax amnesty's t he Tax Amnesty Notice Brat he t value o od STAS to Instructions 1. Provide journals to record a ctions redemption fees. Please show you ca begraded 2. WPT decided to measure the e nd without calon will not n according to the This including the recording the e n hancement

Part I. Statements (30%)

State whether you agree or disagree with the statements. Provide argumentation or description for each statement.

1. Tax accounting is more conservative toward financial accounting.

2. Information concerning tax in the financial statements is not too relevant for the

investors, but only for a government.

3. IFAS 34 basic principle is that the company needs to wait until the condition is certain

until it can record the tax transactions.

Part II. Cases (70%)

ThecaseI–30%

PT R in the year 2019 has a revenue amounted Rp. 70 billion, and expenses amounted Rp. 60 billion. There were no tax credits for PT R. PT R submitted the tax return on time, and paid any underpayment amount of tax on time. However, on June 2023, the tax officials conducting tax audit, and the audit results indicated that the revenue amount had understated by Rp. 5 billion, and expenses had overstated by Rp. 10 billion. On 1 July 2023, The Notice of Underpayment Tax Assessment (Surat Ketetapan Pajak Kurang Bayar) was issued to PT R. PT R decided to apply for an objection, and later, the decision of an objection was reducing the principal amount stated in SKPKB by 80%.

Instructions:

Provide journals to record transactions of recording the income tax payables, its payment, the issuance of SKPKB, and issuance of Decision on Objections. Please show all of your calculations. Journal without calculation will not be graded.

Case2–20%

PT G is a taxable entrepreneur (TE) that sells shoes. During the month of June 2019, PT G record shoes sales Rp. 750 million, providing charity by giving free shoes amounted Rp. 50 million (cost amount), and export Rp. 200 million. PT G also imports goods amounted Rp. 400 million, and paid several expenses and fees (subject to VAT0 amounted Rp. 150 million. PT G purchased Rp. 200 million raw materials from TE, and Rp. 75 million raw materials from non-TE.

Instructions:

Provide journals to record all transactions above, including journals related to the VAT underpaid or overpaid. Please show all your calculations. Journal without calculation will not be graded.

Case3–20%

PT H participated in a tax amnesty program. PT H disclosed in the Tax Amnesty Notice (Surat Keterangan Pengampunan Pajak / Surat Keterangan Harta) that the tax amnesty’ assets value was Rp. 10 billion. Liabilities related to tax amnesty’s assets were Rp. 7 billion. PT H applied SFAS 70 in presenting the tax amnesty’s assets.

Instructions:

1. Provide journals to record transactions related to tax amnesty's assets, liabilities, and

redemption fees. Please show all your calculations. Journal without calculation will not

be graded.

2. If PT H decided to remeasure the tax amnesty’s assets and liabilities as according to the

fair value accounting standards, please explain what is the accounting consequences for this, including the recording and the presentation in the financial statement.

Answer 1

Part I. Statements (30%)

State whether you agree or disagree with the statements. Provide argumentation or description for each statement.

1. Tax accounting is more conservative toward financial accounting.

2. Information concerning tax in the finance.

3. IFAS 34 basic principle is that the company needs to wait until the condition is certain

until it can record the tax transactions.

Part II. Cases (70%)

ThecaseI–30%

PT R in the year 2019 has a revenue amounted Rp. 70 billion, and expenses amounted Rp. 60 billion. There were no tax credits for PT R. PT R submitted the tax return on time, and paid any underpayment amount of tax on time. However, on June 2023, the tax officials conducting tax audit, and the audit results indicated that the revenue amount had understated by Rp. 5 billion, and expenses had overstated by Rp. 10 billion. On 1 July 2023, The Notice of Underpayment Tax Assessment (Surat Ketetapan Pajak Kurang Bayar) was issued to PT R. PT R decided to apply for an objection, and later, the decision of an objection was reducing the principal amount stated in SKP.

Case2–20%

PT G is a taxable entrepreneur (TE) that sells shoes. During the month of June 2019, PT G record shoes sales Rp. 750 million, providing charity by giving free shoes amounted Rp. 50 million (cost amount), and export Rp. 200 million. PT G also imports goods amounted Rp. 400 million, and paid several expenses and fees (subject to VAT0 amounted Rp. 150 million. PT G purchased Rp. 200 million raw materials from TE, and Rp. 75 million raw materials from non-TE.

Instructions:

Provide journals to record all transactions above, including journals related to the VAT underpaid or overpaid. Please show all your calculations. Journal without calculation will not be graded.

Case3–20%

PT H participated in a tax amnesty program. PT H disclosed in the Tax Amnesty Notice (Surat Keterangan Pengampunan Pajak / Surat Keterangan Harta) that the tax amnesty’ assets value was Rp. 10 billion. Liabilities related to tax amnesty’s assets were Rp. 7 billion. PT H applied SFAS 70 in presenting the tax amnesty’s assets.

Instructions:

1. Provide journals to record transactional.

2. If PT H decided to remeasure the tax amnesty’s assets and liabilities as according to the

fair value accounting standards, please explain what is the accounting consequences for this, including the recording and the presentation in the financial statement.