CASHFLOW

Budget Approach
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PATRIOT NUSA
 Merupakan media yang dapat digunakan untuk melakukan

proyeksi atas kebutuhan arus kas dari suatu usaha dalam

suatu periode tertentu.
 Menggunakan metode pembukuan biasa cash basis

(accounting practice) dengan memasukkan transaksi-

transaksi yang diperkirakan akan terjadi di masa
mendatang.
2
 CASHFLOW
CASHFLOW BUDGET
BUDGET APPROACH
APPROACH

Pada prinsipnya adalah dengan menghitung Cash

Inflow dan Cash Outflow secara berkala (biasanya
bulanan), untuk menentukan kebutuhan modal kerja
dari suatu usaha.

KEGUNAAN  Mengetahui besarnya :

 Kebutuhan Kas ?
 Kapan dibutuhkannya ?
 Kapan pelunasan kewajiban ?
 Berapa yang bisa dilunasi ?
 Darimana sumber dananya ?
 Menyusun terms & conditions credit sesuai dengan
arus CF perusahaan ?
 Format
Format Cash
Cash Flow
Flow Budget
Budget

I. Total Cash Inflow A

II. Total Cash Outflow (B)
III. Net Monthly Cash Flow C
IV. Beginning Cash D
V. Cumulative Cash E
VI. New Loan F
VII. Cumulative Cash After Loan G
VIII. Interest Exps + Bank Charges (H)
IX Loan Payment (I)
X. Ending Cash Balance J
 CASH FLOW BUDGET APPROACH
Jan Peb Mar Apr Mei Jun Jul Agt Sep
Cash inflow :
Penjualan marmer 799 220 581 633 581 176 204
Pendapatan instalasi 56 74 80 74 74 22 26
TOTAL CASH INFLOW 799 - 56 294 661 707 655 198 230

Cash outflow :
Pembelian marmer N.A 2,6 cm 148 370 370 370 370 111
Pembelian marmer N.A. 3 cm 150 37 150
Biaya proses 53 70 70 76 70 21 25
Biaya administrasi 20 28 28 31 28 8 10
Biaya instalasi wet system 32 42 42 46 42 13 15
Biaya instalasi dry system 25 6
Biaya bahan pembantu 75 19
TOTAL CASH OUTFLOW 298 370 575 547 510 289 290 42 50
NET MONTHLY CASH FLOW 501 (370) (519) (253) 151 418 365 156 182
OPENING CASH BALANCE 501 131 12 10 146 141 235 391
CUMMULATIVE CASH 501 131 (388) (241) 161 564 506 391 573
NEW LOAN 400 260
CUMM CASH AFTER LOAN 501 131 12 19 161 564 506 391 573
INTEREST EXPENSES 9 15 23 11
LOAN PAYMENT 400 260
ENDING CASH BALANCE 501 131 12 10 146 141 235 391 573
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Format
Format of
of the
the Statement
Statement of
of Cash
Cash Flows
Flows
Preparing
Preparing the
the Statement
Statement of
of Cash
Cash Flows
Flows

Three Sources of Information:

1. Comparative balance sheets
2. Current income statement
3. Additional information

Three Major Steps: Illustration 17-3

SO 2 Identify the major classifications of cash flows.

Preparing
Preparing the
the Statement
Statement of
of Cash
Cash Flows
Flows

Three Major Steps:

SOURCES OF CASH USES OF CASH

NET PROFIT NET LOSS IN

FROM OPERATION OPERATION

DECREASE IN WI INCREASE IN WI

SALE OF FIXED POOL PURCHASE OF

ASSET OF FIXED ASSET
CASH

INCREASE IN RPYMT OF DEBT

DEBT & PYMT OF DIV

INCREASE IN REDEMPTION OF
EQUITY STOCKS
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Berikut ini merupakan ringkasan formula yang
ada pada masing-masing blok (1 s/d 7).

Untuk memudahkan perhitungan semua hasil CF

yang merupakan:

 Sources ditulis Positif, = + ve

 Uses ditulis Negatif = - ve

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1. NOPAT Laba bersih operasi usaha setelah
pajak yang di”normal”kan

2. IFO Arus kas laba bersih usaha setelah

pajak yang di”normal”kan
3. CFO
Arus kas stlh pembiayaan kredit ops
4. CADS Arus kas sblm pembiayaan jk pjg
5. CAIA Arus kas sbl hutang
6. END cash Arus kas setelah hutang

7. DSA (NOPAT or IFO) VS (FP & Div)

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Blok 1. +/- NPAEI
+ Interest Expenses
+ Expenses/Kerugian Extra Income
- Income/Keuntungan Extra Income
NOPAT = +/- NPAUI + Expenses - Income
Blok 2. + Non Cash Outlay Exp. (Depr, Amort)
IFO = NOPAT + Depreciation & Amortisation
Blok 3. +/- WI
+/- Sundry C.A and C.L
CFO = IFO +/- WI +/- Sundry
Blok 4. - FP (Financing Payments) = Interest + CPLTD Paid
+/- CADS =CFO-FP
Blok 5. +/- NPE (Net Plant Expendditure)
+/- Non NPE (Lihat form cash flow)
CAIA = CADS +/- NPE +/-Non NPE
Blok 6. +/- CHG in Borrowing and NW
CHG In Cash = Cash B/S i - Cash B/S o

Blok 7. NOPAT – FP
NOPAT - FP - DIV. PAID
NOPAT / FP Kemampuan perusahaan
NOPAT / FP - DIV. PAID untuk memenuhi semua
kewajibannya.
IFO – FP (Fin. Payment)
IFO - FP - DIV. PAID
IFO / FP
IFO / FP - DIV. PAID
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Pengertian
 Arus kas laba bersih setelah pajak yang telah
di”normal”kan dari berbagai pos seperti:
Non operasional : Div received, Int Income, Others
Fin Payment : Interest Exp

NOPAT = NPAEI + INT.EXP – EXTRA INCOME

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Pengertian
 Arus kas laba bersih setelah pajak yang telah
dinormalkan dan ditambah non cash expenses
seperti
Depresiasi
Amortisasi

IFO = NOPAT + Depr + Amort

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Pengertian:
 Adalah cash inflow (IFO) setelah digunakan untuk
membiayai current activities.

CFO = IFO +/– WI +/– S CL +/– S CA

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Pengertian
cash inflow setelah digunakan untuk membiayai
current activities dan financing payment

CADS = CFO – FP

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Pengertian
 Cash inflow yang telah digunakan untuk pembiayaan
current activities dan financing payment dan plant
expansion ditambah others inc/ex, UI dan Intangibles

CAIA = CADS – Plant exp –/+ Investment -/+S

NCA -/+ S NCL + EXTRA INCOME +/-
INTANGIBLES

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Pengertian:
 Cash inflow yang telah digunakan untuk membiayai
seluruh aktivitas usaha. Atas kekurangan dana akan
dipenuhi dari:
Bank Loan
Grey Area
Net Worth
CHANGE IN CASH = CAIA +/- Bank Loan +/-
Grey Area +/- NW – DIV.
PAYMENT
= CASH (BS1) – CASH (BS0)

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 UNTUK SEMENTARA INI, ANDA CUKUP
MEMPERHATIKAN POINT NOPAT DAN IFO,
DALAM MENGANALISA CASH FLOW
ADEQUACY.

SEDANGKAN PERUBAHAN DI WORKING

INVESTMENT DAPAT MEMBERI INDIKASI AKAN
KEBUTUHAN DANA UNTUK MODAL KERJA
PERUSAHAAN TERSEBUT.

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NOPAT - FINANCING PAYMENT
(NOPAT - (INT.EXP. + CPLTD))

NOPAT - FINANCING PAYMENTS - DIVIDENS

(NOPAT - (TOT. FIN PYTS + DIVIDEND PAID))

NOPAT/FINANCING PAYMENTS
(NOPAT/( INT.EXP. + CPLTD))

NOPAT/(FINANCING PAYMENTS + DIVIDENS)

(NOPAT/(TOT FIN PYTS + DIVIDEN PAID))

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I F O - FINANCING PAYMENT
(NOPAT -(INT.EXP. + CPLTD))
I F O - FINANCING PAYMENTS - DIVIDENS
(NOPAT - (TOT. FIN PYTS + DIVIDEND PAID))

I F O / FINANCING PAYMENTS
(IFO/(INT.EXP. + CPLTD))
I F O /(FINANCING PAYMENTS + DIVIDENS)
(IFO/(TOT. FIN PYTS + DIVIDEN PAID))

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 NET PROTIT AFTER EXTRA ORDINARY INCOMES

INTEREST EXP I.E EXIST + IE NEW P&L

NON OPERATING MENCAKUP SELURUH EXTRAORDINARY INCOMES P&L

INCOMES

NOPAT (NORMALIZED OPERATING PROFIT AFTER TAX)

DEPRECIATION DEPRECIATION PLANT + DEFR NON PLANT P&L

AMORTIZATION AMORTIZATION P&L

IFO (INCOME FROM OPERATION)

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IFO (INCOME FROM OPERATION)

A/R’S TRADE RECEIVABLE0 - TRADE RECEIVABLE1 AST

INVENTORY INVENTORY0 - INVENTORY1

A/P A/P1 - AP0 LIA

A/E A/E1 - A/E0 LIA

SUB TOTAL WI GROSS A/R’S + A/R CHARGE OFF +

INVENTORY + A/P + A/E
SUNDRY C/ ASSETS SECURITIES0 + OTHER CURR.REC0 + ADV. AST
SUPPLIER0 + SUNDRY C.ASST 0 ) – (IDEM1).

SUNDRY C/ LIAB S'HLDR LOAN1 + SALES DEPOSITS1 + OTHER LIA

+ SUNDRY C.L1 – (IDEM0).

CFO (CASH FROM OPERATION)

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CFO (CASH FROM OPERATION)

INTEREST EXP. (I.E EXIST + I.E NEW) P&L

CPLTD (CPLTD EXIST 0 + (CPLTD NEW0) LIA

STK. REDEMPTION COMP SIK REDLMPTION P&L

TOT FIN PYTS INTEREST EXP + CPLTD + STK REDEMPTN

CADS (CASH AFTER DEBT SERVICE)

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CADS (CASH AFTER DEBT SERVICE)

NET PLANT EXP (PLANT0 - PLANT1 – DEPR PLANT1 - DEPR NON PLANT1 - P&L/AST
CAP INT1 - ADJ PLANT1)

CHG IN INVESTMENT0 - INVESTMENT1 AST

INVESTMENT

SUNDRY NCA (SEMUA ITEM NCA KECUALI INVESTMENT DAN AST

INTANGIBLES (Y0) – (Y1).

SUNDRY NCL (SEMUA ITEM NCL KECUALI LTD DAN (Y1) – (Y0). LIA

NON OPERATING MENCAKUP SELURUH EXTRAORDINARY INCOMES P&L

INCOMES
INTANGIBLES (INTANGIBLES0 – INTANGIBLES1 - AMORTIZATION1) P&L/AST

CAIA CASH AFTER INVESTING ACTIVITIES

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CAIA = CASH AFTER INVESTING ACTIVITIES

S/T DEBT - EXIST BANK BORROWING1 – BANK BORROWING0 LIA

L/T DEBT - EXIST CPLTD EXIST 1 + LTD BANK/NBFI1 LIA

LTD BANK0 – LTD NBFI0

GREY AREA (GREY AREA ITEM1 - GREY AREA ITEM0) LIA

NET WORTH - (R/E ADJUSTMENT + ALL CHG IN NW) KECUALI P&L

CURRENT R/E
DIVIDEND PAID - (CASH DIVIDEND + STOCK DIVIDENS) P&L

CHANGE IN CASH

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 Berapa NOPAT coverage yang dianggap cukup. Yang
harus diperhatikan:
 Interest Risk
 Volatility dari Income dan Cash Flow
 Kebutuhan Cash Flow lain yang mendesak
 Side Streaming ????

 Kapan NOPAT dan kapan Income From Operation bisa

dipakai

 Bagaimana jika coverage tidak cukup

 Cash Reserve?
 Shareholders support?
 Alternative Source of Cash ( mis. Reduce assets)?
 New Borrowing?

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 REVENUE COST & EXPENSES
Statistic :
Cost of Sales
Food
CASHFLOW HOTEL
Room Available Beverage
Room Night Available Other Income GOP before Other Income
Rooms Sold
Total Cost of Good Sold % GOP
Payroll & Related Expenses
% Occupancy
Room Other Income
No Guest Night
Food and Beverage Deposit on Call
Average Room Rate Minor Operated Dept
Total Food Cover Profit Before Fixed Charges
A&G
Avg Food Check / Cover Sales & Marketing Others :
Avg Beverage Check / Cover POMEC Others Cost (Bank, PPH 23)
Total Payroll Cost Depreciation and amortization
Other Expenses Depreciation Building
Revenue : Room
Profit Before Tax
Room Food and Beverage
Income taxes
Minor Operated Dept
Food and Beverage Net Operation Profit
A&G
Food
Sales & Marketing
Beverage POMEC
Other Total Other Expenses
Energy Cost
Minor Operated Dept
Rental and Other Income Electricity
Tugas minggu depan :
Total Revenue Fuel 1. JELASKAN DIFINISI MASING2
Water
2. BUAT CASHFLOW / TIM
Total Energy
Cost