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MATERI XI

KEWIRAUSAHAAN. MATERI XI. ASPEK KEUANGAN. Basic Financial Statement. Statement of Operational (Income Statement – Laporan Rugi Laba) Balance Sheet (Neraca) Statement of Cash Flows. Income Statement. Operating Revenues

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MATERI XI

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  1. KEWIRAUSAHAAN MATERI XI ASPEK KEUANGAN

  2. Basic Financial Statement • Statement of Operational (Income Statement – Laporan Rugi Laba) • Balance Sheet (Neraca) • Statement of Cash Flows

  3. Income Statement • Operating Revenues (The actual and or expected cash inflows resulting from activities that central to the on going operation) • Expenses (The actual and or expected cash outflows resulting from the sale delivery of goods or service) • Profit (loss) (The difference between revenues and expenses)

  4. Wal-Mart Stores, IncIncome StatementsFiscal year ended December 31, 2006

  5. Wal-Mart Stores, IncBalance Sheetsper December 31, 2006

  6. Financial ManagementHow a company funds itself and maximizes the return on money raised from its share holder or debt holder • Business Investment Decisions What assets should the firm own? In what project should the business invest? • Financing Decisions How should the investment to buy paid for? Two major functions:

  7. Three Basic Decision Categories • Accept or Reject a Single Investment Proposal • Chose One Competing Investment over Another • Capital Rationing With a limited investment pool capital rationing tells which projects among many should be chosen • Major tools: • Payback Period • Net Present Value

  8. An example $ 60,000 $ 51,000 Proceed $ 41,000 • Payback Period Method Calculate the amount of time it takes to recover the investments = 2 years 2 months 0 1 2 3 Investment of $102,000

  9. An example 1.00000 -$102,000 0.90909 37,273 • Net Present Value 0.82645 42,149 0.75131 45,079 $124,501 $ 45,079 $ 42,149 $ 60,000 $ 37,273 $ 51,000 $ 41,000 0 1 2 3 $ 102,000

  10. Faktor yang Perlu Diperhatikan Dalam Penilaian Investasi • Arus Kas (Cashflow) • Nilai Waktu Uang (Time Value of Money) Metode Penilaian : • Payback Period (jangka waktu yang diperlukan untuk mendapatkan kembali modal yang diinvestasikan) • Net Present Value (Merupakan perbedaan nilai sekarang antara nilai sekarang arus kas masuk sebagai hasil dari investasi dengan arus kas keluar untuk membiayai investasi) • Internal Rate of Return

  11. Cash Flow • Istilah-istilah : • Net Inflow of Cash / Proceed • (Arus Kas Masuk Bersih - AKMB); Kas yang berasal dari hasil bersih investasi • 2. Net Outflow of Cash / Outlay • (Arus Kas Keluar Bersih); Kas yang diperlukan untuk mendanai investasi

  12. Contoh PenjualanHPP Laba Kotor Beban Usaha Laba Usaha Sebelum Penyusutan Penyusutan : Penghapusan Piutang 40.000 Depresiasi 60.000 Laba sebelum pajak Pajak penghasilan 10% Laba setelah pajak 1.100.000 600.000 500.000 150.000 350.000 100.000 250.000 25.000 225.000 - - - + - AKMB = 225.000 + 100.000 = 325.000

  13. Contoh PenjualanHPP Laba Kotor Beban Usaha Laba Usaha Sebelum Penyusutan Penyusutan : Penghapusan Piutang 40.000 Depresiasi 60.000 100.000 Beban bunga 50.000 Jumlah beban penyusutan dan bunga Laba sebelum pajak Pajak penghasilan 10% Laba setelah pajak 1.100.000 600.000 500.000 150.000 350.000 150.000 200.000 20.000 180.000 - - + + - - AKMB dan bunga = 180.000 + 100.000 + {(1-10%) 50.000} = 280.000 + 45.000 = 325.000

  14. Time Value of Money Compound value (nilai majemuk) (Untuk menghitung nilai pada akhir periode) F = P (1+i)t dimana : F = Nilai yang akan diterima akhir periode P = Nilai awal periode i = Tingkat bunga t = Waktu Misalnya tuan A, mendepositokan uangnya Rp. 1.000 selama 4 tahun dengan tingkat bunga 6% Maka pada akhir tahun ke 4 tuan A menerima : Rp. 1000 (1 + 0,06)4 = Rp. 1.262

  15. Time Value of Money Compounding factor for one per annum (Annuity) (nilai majemuk dari anuitas) (anuitas adalah deretan (series) pembayaran dengan nilai tetap selama periode tertentu) (1+i)t - 1 F = A i dimana : F = Nilai yang akan diterima akhir periode A = Nilai yang diterima setiap tahun i = Tingkat bunga t = Waktu

  16. Time Value of Money Sinking Fund Factor (Faktor dan pelunasan) i A = F (1+i)t - 1 Capital Recovery Factor (Faktor Kembali Modal) i (1+i)t A = P (1+i)t - 1 dimana : P = Nilai saat ini

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