TUGAS MANAJEMEN KEUANGAN DASAR

1. What are the three types of financial management decisions? For each type of decision,
give an example of a business transaction that would be relevant.
- 1. Capital Budgeting adalah proses perencanaan dan pengelolaan investasi jangka
panjang perusahaan, dimana para manajer memutuskan bagaimana mereka akan
mengalokasikan dana mereka dengan tujuan untuk memperoleh keuntungan dalam
jangka panjang. Contohnya dalam transaksi bisnis ketika para manajer memutuskan
apakah akan mengganti ataupun memperluas aset tetap, misalnya pabrik dan mesin.
Mereka akan mengevaluasi arus kas yang akan diperoleh ataukah merugi ketika
mereka memutuskan untuk mengganti.
- 2. Financial Decision adalah keputusan dalam mengelola sumber dana untuk proyek
baru. Para manajer memutuskan komposisi modal yang mereka inginkan untuk
membiayai operasional yang bertujuan untuk mendapatkan dana maksimum dengan
tingkat bunga minimum. Modal dapat berupa pinjaman bank dengan suku bunga
tertentu, mengumpulkan dana melalui penerbitan saham preferen di pasar saham, atau
campuran utang dan ekuiitas yang dipertahankan oleh perusahaan, yaitu utang jangka
pendek dan jangka panjang serta ekuitas. Contoh: Memutuskan bagaimana membiayai
investasi untuk sebuah proyek restoran
- 3. Working Capital Management adalah modal kerja yang menunjukkan efisiensi dan
kemampuan keuangan jangka peendek suatu organisasi. Contoh ketika para manajer
memodifikasi kebijakan penagihan kredit. Hal ini dapat melibatkan penyesuaian
syarat kredit yang ditawarkan kepada pelanggan, penerapan langkah-langkah
pengendalian kredit yang lebih ketat, atau pengenalan metode pembayaran baru untuk
menigkatkan arus kas dan mengurangi resiko piutang macet.
2. Who owns a corporation? Describe the process whereby the owners control the firm’s
management. What is the main reason that an agency relationship exists in the corporate
form of organization? In this context, what kinds of problems can arise?
- Dalam kepemilikan korporasi, sebuah perusahaan dimiliki oleh para pemegang saham.
Pemegang saham memilih direkso perusahaan, yang pada gilirannya menunjuk
manajemen perusahaan. Pemisahan kepemilikan dari kontrol dalam bentuk organisasi
korporasi inilah yang menyebabkan masalah agensi terjadi. Manajemen dapar
bertindak dalam kepentingan pribadi atau kepentingan orang lain, bukan kepentingan
pemegang saham. Jika terjadi, hal tersebut dapat bertentangan dengan tujuan
memaksimalkan harga saham perusahaan.

3. Super Clean Inc., has sales of $686,000, costs of $297,000 depreciation expense of
$66,000, interest expense of $35,000, and a tax rate of 30 percent. What is the net income
for this firm?
- Sales $686,000
Cost of Sales (297,000)
Gross Income 389,000
Depreciation Expense (66,000)
Interest Expense (35,000)
Income before Tax 288,000
Income Tax at 30% (86,400)
Net Income $201,600
4. Suppose the firm in problem 1 paid out $73,000 in cash dividends. What is the addition to
retained earnings?
- Retained Earnings = Net Income – Dividends
= 201,600 – 73,000 = 128,600

5. Suppose the firm in problem 1 had 90,000 shares of common stock outstanding. What is
the earnings per share, or EPS, figure? What is the dividends per share figure?
- EPS = Net Income / Shares
= 201,600 / 90,000 = 2,76 per share
6. Hobbit, Inc., purchased new cloaking machinery three years ago for $7 million. The
machinery can be sold to the Romulans today for $4.9 million. Klingon’s current balance
sheet shows net fixed assets of $3.7 million, current liabilities of $1.1 million, and net
working capital of $380,000. If all the current assets were liquidated today, the company
would receive $1.6 million cash. What is the book value of Klingon’s assets today? What
is the market value?
- a. Book Value of Total Assets = Book Value of Fixed Assets + Book Value of Current
Assets
= 3,700,000 + (Book Value of Current Liabilities +
Book Value of Working Capital)
= 3,700,000 + (1,100,000 + 380,000)
= 3,700,000 + 1,480,000
= 5,180,000
b. Market Value of Klingon = NWC market value + Fixed assets market value
= 1,600,000 + 4,900,000
= 6,500,000

7. Water Melon Inc., has sales of $43,800, costs of $22,700, depreciation expense of $2,100
and interest expense of $1,600. If the tax rate is 35 percent, what is the operating cash
flow, or OCF?
- Sales 43,800 OFC = EBIT + Depreciation – Taxes
Costs (22,700) = 19,000 + 2,100 – 6,090
Depreciation (2,100) = 21,100 – 6,090 = 15,010
EBIT 19,000
Interest (1,600)
Taxable Income 17,400
Taxes 17,400 35% (6,090)
Net Income 11,310

8. Excellent Driving School’s 2014 balance sheet showed Net Fixed Assets of $3.4 mill, and
the 2015 balance sheet showed Net Fixed Assets of $4.2 mill. The company’s 2015
 income statement showed a depreciation expense of $385,000. what was the net capital
spending for 2015?
- Net Capital Spending = Net Fixed Assets 2015 – Net Fixed Assets 2014 +
Depreciation
= 4,200,000 – 3,400,000 + 385,000
= 800,000 + 385,000 = 1,185,000

9. The 2014 balance sheet of Tiger, Inc., showed current assets of $2,100 and current
liabilities of $1,380. The 2015 balance sheet showed current assets of $2,250 and current
liabilities of $1,710. What was the company’s 2015 change in net working capital?
- Net Working Capital = Current Assets – Liabilities
2014 NWC = 2,100 – 1,380 = 720
2015 NWC = 2,250 – 1,710 = 540
The Company’s 2015 change in NWC = 2015 NWC – 2014 NWC
= 540 – 720 = $-180

10. The 2014 balance sheet of Tian Tian Tennis Shop, Inc., showed long-term debt of $1.95
million, and the 2015 balance sheet showed long-term debt of $2.28 million. The 2015
income statement showed an interest expense of $235,000. What was the firm’s cash flow
to creditors during 2015?
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