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DASAR ANALISIS Pertemuan 4 Murniadi Purboatmodjo. Matakuliah : F0282 - Analisis Laporan Keuangan Perusahaan Tahun : 2009. ANALISIS RASIO. expressed in % or as times per period - Liquidity Measures a firm’s ability to meet its current obligations - Leverage (borrowing capacity)
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DASAR ANALISISPertemuan 4MurniadiPurboatmodjo Matakuliah : F0282 - AnalisisLaporanKeuangan Perusahaan Tahun : 2009
ANALISIS RASIO expressed in % or as times per period - Liquidity Measures a firm’s ability to meet its current obligations - Leverage (borrowing capacity) Measures the degree of protector for long-term creditors - Profitability Measures the earning ability of a firm - Investor-focused - Cash flow Indicate liquidity, borrowing capacity, and profitability
ANALISIS RASIO (cont’) - Interpreted in comparison with • Prior ratios • Competitor ratios • Industry ratios • Predetermined standards
Analisis Common size (Verikal-Horisontal) • The use of percentages is usually preferable to the use of absolute amounts • Vertical analysis • All amounts of a year expressed as a percentage of a base amount (e.g., net sales revenue, total assets) • Horizontal analysis • Amounts for comparative years are expressed as a percentage of the base year amount
ANALISIS VERTIKAL Each financial statement element is presented as a percentage of a designated base.
ANALISIS HORISONTAL Each financial statement element is presented as a percentage of a base amount from a selected year.
ANALISIS HORISONTAL (cont’) Year-to-Year Change Analysis: • Use both absolute and percentages • Guidelines: • When an item has value in the base year and none in the next period, the decrease is 100% • A meaningful percent change cannot be computed when one number is positive and the other number is negative • A percent change is incomputable when there is no figure for the base year.
ANALISIS HORISONTAL (cont’) Contoh: Change Analysis ItemYear 1Year 2 AmountPercent Advertising Expense $ 20,000 $ - $(20,000) (100%) Operating Income 6,000 (3,000) (9,000) -- Net Income (7,000) 8,000 15,000 -- Other -- 4,000 4,000 --
ANALISIS TREN • A study of the financial history of a firm by looking at the trend of particular ratio one sees whether the ratios falling, constant, rising. Can detect problems or observe good management • Longitudinal ratio comparison • Falling • Rising • Relatively constant • Highlight • Effective management • Evidence of problems
ANALISIS INDUSTRI • Industry comparison complicated by highly diversified companies • Financial services • Base their analysis on industry placement • Provide composite industry data
SUMBER DATA INDUSTRI • Financial components vary by type of industry • Merchandising • Inventory is a principal asset • Sales may be primarily for cash or on credit • Service • Inventory is low or nonexistent • Manufacturing • Large inventory holdings • Substantial investment in plant assets
Latihan soal FINANCIAL REPORTING ANALYSIS – Gibson P5-5 dan/P5-7