CORPORATE LIQUIDATION & REORGANIZATION

ADVANCED ACCOUNTING II TASK ACCOUNTING 1 2014

Aisya Nurasari Handyanti 008201400006
Aktivani Naza K 008201400008
Ilma Latansa 008201400043
Novita 008201400076
Rinjani Ummu Syina 008201400093

Reorganization is restructuring of a firm's operations, in order to

concentrate on core activities and outsource peripheral ones, often
requiring reduction in workforce. Businesses can face challenges of all
sizes in the course of their operations. Reorganization happens, for
example, when a business or corporation decides to address major
problems or to overhaul its strategy by shifting market focus or by
restructuring the management and staff hierarchy.
Based on PSAK 51 Akuntansi Kuasi-Reorganisasi (Revisi 2003)
Based on PSAK 51 Akuntansi Kuasi-Reorganisasi (Revisi 2003)
Kuasi-reorganisasi merupakan prosedur akuntansi yang mengatur perusahaan
Kuasi-reorganisasi
merupakan
akuntansi
yangmenilai
mengatur
merestrukturisasi ekuitasnya
dengan prosedur
menghilangkan
defisit dan
kembali
perusahaan
merestrukturisasi
ekuitasnya
denganperusahaan
menghilangkan
defisit
seluruh aset dan
kewajibannya. Dengan
ini, diharapkan
bisa meneruskan
dan
menilai
aset
kewajibannya.
Dengan
ini,
usahanya
secarakembali
lebih baik,seluruh
seolah-olah
mulaidan
dari awal
yang baik (fresh
start), dengan
diharapkan
perusahaannilai
bisa
meneruskan
secara lebih baik,
neraca yang menunjukkan
sekarang
dan tanpausahanya
dibebani defisit.
seolah-olah mulai dari awal yang baik (fresh start), dengan neraca yang
menunjukkan nilai sekarang dan tanpa dibebani defisit.

Benefit of Reorganization
When a corporation decides to reorganize it may do so in a relatively
straight-forward manner or by a more complex change in operations or
service. Reorganizations also can occur during the bankruptcy process. A
business may combine two or more of its departments to save money or
to streamline activities. A more complex change might involve refocusing
the company's mission statement, drastically changing its marketing plan
or even laying off employees that are underperforming. The benefits of
reorganization can be cost savings to the business, the streamlining of its
management, the opening of lines of communication and the ability to put
the business on a path toward long-term sustainability.

Roadblocks / Obstruction
A business can face some challenges in the reorganization process. On a
basic level, change is often met with resistance by both managers and
employees alike. A corporation may need to seek the advice and
assistance of a change management consultant or restructuring team to
guide the business into the reorganization stage. There can also be legal,

financial and human resources issues that arise in any restructuring or

reorganization process. Consulting skilled professionals can ease the
transition period and help the company to make sure it maintains a strong
position.

Here are some examples of company that did reorganization in Indonesia:

1.

Based on the decision of the Bank Mandiri Extraordinary Shareholders

Meeting (RUPSLB) on October 30th 2003, the Bank has managed to do an
accounting procedure called Reorganization under Financial Statements
April 30th, 2003.
-

The participation of assets and liabilities;

The purpose and benefits of the reorganization for Bank

Mandiri are:

Improve the structure of the Bank's equity thus amounted to 161.9 billion
deficit has been eliminated with the share premium reserve (share
premium) without going through a legal reorganization and does not
change the net shareholders' equity. Bank Mandiri can distribute dividend
in accordance with applicable regulations.

2.

Based on Extraordinary Shareholders Meeting (RUPSLB) dated June 28,

2012, the shareholders agreed to carry out a quasi-reorganization in
accordance with PSAK 51 (Revised 2003) and Bapepam rules No. IX.L1
related to quasi reorganization procedures, Supplementary to the
Bapepam Chairman Decision Letter No. Kep- 16/PM/2004 dated April 13,
2004. The Company performed the procedures of quasi reorganization
based on the opening consolidated financial statement as of January 1,
2012, as remeasured in U.S. Dollar which is the Companys functional and
presentation currency.
-

The purpose and the objectives of doing reorganization by this

company;
1. Company expects can continue operates the business in a better fresh
start, with a financial position that shows current value and without a
burdened by deficit.
2.

Fixing the structure of Companys equity by eliminate the deficit

amount by revalued all the assets and liabilities as fair value that
determined by market value.
3. Company expects to be a lot easier to in order funding for business
development.
4. Company can distribute the dividends based on the law stated so that
it will increase the interest and to attract the investors to owning the
Companys shares.
5. To elevate the liquidity of stock trades, the value of investation for
investor and companys value.

The participation of Asset and Liability

The Group revalued its opening consolidated statement of financial

position at January 1, 2012, to fair value which was determined by an
independent appraiser. The fair value adjustment resulted in USD
44,963,385 revaluation increase of assets. The assets principally affected
by the fair value adjustments and the amount of such adjustments are as
follows:

After reorganization;

The liabilities that participates in reorganization;

The Company has made the process of revaluation of the Company's

assets and liabilities at fair value using the statement of financial position
as of January 1 , 2012. In doing this Quasi-reorganization , the assets and
liabilities should be revalued to fair value. The process
of revaluation of assets and liabilities can generate value is higher or
lower than the net assets compared to the carrying value before
revaluation. The fair value of assets and liabilities are determined
according to market value. If the market value is not available, the
estimated fair value should be determined using the best information
available. Estimated fair value is determined by considering similar types
of assets and the valuation technique most appropriate to the
characteristics of the assets and liabilities concerned.