Cash

·       Most liquid asset.

·       Standard medium of exchange

·       Basis for measuring and accounting for all other items

·       Current assset.

·       Examples: coin, currency, available funds on deposit at the bank money orders, certified checks, cashier’s check, bank drafts, and savings accounts.

 

Setara Kas (Cash Equivalent)

ü  Investasi jangka pendek dan sangat likuid.

ü  Siap dikonversi menjadi kas.

ü  Sangat dekat dengan waktu jatuh tempo sehingga perubahan tingkat bunga sudah tidak berpengaruh.

Contoh: treasury bills, commercial paper, money market fund, deposito, emas, check.

 

Kas Terbatas

Ketika ada sejumlah  nilai yang:

Ø  Dibatasi penggunaannya dan terpisah dari kas reguler.

Ø  Dapat dikategorikan sebagai aset lancar maupun aset tidak lancar.

Contoh: plant expansion, retirement of long-term debt, and compensating balance.

 

Classification of Cash and Cash Equivalent

1.     Cash

2.     Petty Cash

3.     Short-term paper

< 3 months → Cash and Cash Equivalent

3-12 months  → Investment

4.     Postdated checks

5.     Bank overdraft

 

Petty Cash (Kas Kecil)

2 metode pencatatan kas kecil:

1.     Imprest System ­→ jumlah kas kecil tetap.

Penjurnalan pengeluaran dilakukan pada saat pengisian kembali kas kecil.

2.     Fluctuative System → jumlah kas kecil fluktuatif.

Penjurnalan pengeluaran dilakukan setiap terjadinya transaksi.

Cash internal Control: Petty Cash


1.      Establishing the fund

Illustration :

Moskov Ltd. decides to establish a $ 3.000 fund on March 1.


March 1

Petty Cash

$ 3.000

 

 

  Cash

 

$ 3.000

 

2.     Making payment from the fund

-       Biasanya manajemen membatasi pengeluaran dengan kas kecil.

-       Setiap pengeluaran harus terdapat nota atau dokumen pembelian.

Illustration :

On March 15, Moskov Ltd.’s petty cash custodian requests a check for NT$2.610. The fund contains $390 cash and petty cash receipts for postage $1.320, freight-out $1.140, and miscellaneous expenses $150.


March 15

Postage Expense

$1.320

 

 

Freight-out

$1.140

 

 

Miscellaneous expenses

$   150

 

 

  Cash

 

$ 2.610

            Assume in the preceding example that the custodian had only $360 in cash in the fund plus the receipts as listed. The request for reimbursement would therefore be for $2.640.

March 15

Postage Expense

$1.320

 

 

Freight-out

$1.140

 

 

Miscellaneous expenses

$   150

 

 

Cash over and short

$    30

 

 

  Cash

 

$ 2.640

           

 

Assume in the preceding example that the custodian had only $420 in cash in the fund plus the receipts as listed. The request for reimbursement would therefore be for $2.580.


March 15

Postage Expense

$1.320

 

 

Freight-out

$1.140

 

 

Miscellaneous expenses

$   150

 

 

  Cash over and short

 

$     30

 

  Cash

 

$ 2.580

Notes : Akun cash over and short akan masuk ke laporan laba rugi di pendapatan dan beban lain. Jika di debet akan menjadi beban, jika di kredit akan menjadi pendapatan lain-lain.

3.     Replenishing the fund