IN HOUSE TRAINING

FINANCE FOR NON FINANCE PENYELIA

DASAR
Agenda Pembelajaran
Day 1: Day 2:
07.00 - 07.30 Registrasi Peserta 07.00 - 07.30 Registrasi Peserta
07.30 - 08.15 Pre Test 07.30 - 10.00 Analisis Laporan keuangan
08.15 - 10.15 Konsep Dasar Manajemen Keuangan 10.00 - 10.15 Rehat kopi
10.15 - 10.30 Rehat kopi 10.15 - 12.00 Perencanaan dan Peramalan Keuangan
10.30 - 12.00 Laporan Keuangan - Neraca 12.00 - 13.00 ISHOMA
12.00 - 13.00 ISHOMA 13.00 - 15.00 Penganggaran Modal
13.00 - 14.45 Laporan keuangan – Laporan L/R 15.00 - 15.15 Rehat kopi
14.45 - 15.00 Rehat kopi 15.15 - 16.30 Penganggaran Modal
15.00 - 16.30 Laporan Keuangan - Arus Kas
Day 3:
07.00 - 07.30 Registrasi Peserta
07.30 - 10.00 Keputusan Pendan
10.00 - 10.15 Rehat kopi
10.15 - 12.00 Manajemen Modal Kerja
12.00 - 13.00 ISHOMA
13.00 - 14.15 Post Test
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IN HOUSE TRAINING

ANALISA LAPORAN KEUANGAN

Pengertian & Tujuan

Analisis laporan keuangan adalah mempelajari hubungan antara suatu angka dengan
angka lain dalam laporan keuangan yang dapat memberikan makna atau dapat
menjelaskan arah (trend) angka-angka tersebut di masa yang akan datang, yang bertujuan
untuk:

1. Mengevaluasi Kinerja sebuah perusahaan dan membandingkannya dengan kinerja

perusahaan pembanding untuk mengidentifikasikan letak masalah yang
memerlukan perbaikan

2. Memprediksi profitabilitas dan risiko sebuah perusahaan di masa mendatang.

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Metode Analisa Laporan Keuangan

Teknik Analisa dengan

Teknik mengevaluasi deretan membandingkan masing2 pos
data laporan keuangan selama
kurun waktu teretntu, untuk Trend Ratio laporan keuangan yang relevan
atau data yang signifikan.
menentukan penurunan atau
analysis Analysis
peningkatan yang terjadi.

Coomon
Size Teknik untuk mengetahui data
analysis laporan keuangan sbg
persentase dari jumlah
dasarnya (base amount).

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Jenis Analisa Rasio Laporan Keuangan
1. Analisa Likuiditas
Analisis untuk mengukur kemampuan perusahaan untuk memenuhi
kewajiban jangka pendek.
2. Analisa Solvabilitas
Analisis untuk mengukur kemampuan perusahaan memenuhi
seluruh kewajibannya termasuk pembayaran bunga pinjaman.
3. Analisa Aktivitas
Analisis untuk mengetahui efisien atau tidaknya pengelolaan sumber daya atau asset
yang dimiliki perusahaan.

4. Analisa Profitabilitas
Analisis untuk mengukur kemampuan perusahaan untuk menghasilkan
imbal hasil

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Analisis Likuiditas

Analisis likuiditas adalah analisis yang digunakan untuk mengukur

kemampuan perusahaan untuk memenuhi kewajiban yang segera akan
jatuh tempo :
1. Cash ratio adalah rasio yang mengukur kemampuan kas/setara kas
perusahaan memenuhi dengan kewajiban lancarnya.

2. Current ratio adalah rasio yang mengukur kemampuan

perusahaan untuk memenuhi pembayaran kewajiban jangka
pendek; rasio di bawah 1 menunjukkan bahwa aset lancar tidak
mampu menutupi liabilitis jangka pendek.
3. Acid test ratio adalah rasio yang mengukur kemampuan
perusahaan untuk memenuhi pembayaran kewajiban jangka
pendek, tetapi tidak termasuk asset lancar yang tidak likuid
(persediaan).

Strictly Confidential
Cash Ratio
Cash & Setara Kas
Cash ratio Cash Ratio =
Current Liabilities
mengukur kemampuan kas/setara kas
perusahaan untuk menutupi kewajiban $175 = 0,76 kali
= $230
jangka pendeknya
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Taxes (40%) - 108
Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Current Ratio
Current Assets
Current ratio Current Ratio = Current Liabilities
mengukur kemampuan perusahaan untuk
menutupi kewajiban jangka pendek. $1,230 = 5,35 kali
= $230
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Taxes (40%) - 108
Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Acid Test Ratio
Acid test ratio (Quick ratio) mengukur Acit test ratio = Current Assets - Inventories
Current Liabilities
kemampuan perusahaan membayar
semua hutang lancar (tanpa asset yang = $1,230 - $625 = 2,63 kali
tidak likuid). $230
ABC Computer Company Balance Sheet
ABC Computer Company
Income Statement
Assets (US$) Liabilities (US$)
Sales + 1.450
Cash 175 Account payable 115
Cost of Goods Sold - 875
Gross Profit = 575
Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200 Current assets 1.230 Bond 600
Net Operating Income = 330 Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60 Less: Acc. Depr. (1.200 Common stocks 300
Net Income Before Taxes = 270 )
Taxes (40%) - 108 Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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 Rasio Likuiditas
PT Indonesia Power dan Anak Perusahaannya

Rasio likuiditas merupakan rasio untuk mengukur kemampuan perusahaan menyelesaikan kewajiban
jangka pendeknya yang terdiri dari Cash Ratio (Rasio Kas), Quick Ratio (Rasio Cepat) dan Current Ratio
(Rasio Lancar). Semakin tinggi nilai dari rasio-rasio tersebut, maka mengindikasikan bahwa Perusahaan
mampu memenuhi kewajiban-kewajibannya yang akan jatuh tempo.

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Analisis Solvabilitas
Rasio solvabilitas (leverage ratio) adalah rasio untuk menilai kemampuan perusahaan dalam
melunasi semua kewajibannya baik jangka pendek maupun jangka panjang dengan jaminan
aktiva atau kekayaan yang dimiliki perusahaan.

Analisis untuk mengukur kemampuan perusahaan memenuhi seluruh kewajibannya

termasuk pembayaran bunga pinjaman:

Jenis Rssio Solvabilitas, sbb:

1. Debt to asset ratio
2. Debt to equity ratio
3. Time interest earned
4. Debt Service Ratio

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Debt to Asset Ratio
Debt to Total Liabilities
Debt to asset ratio mengukur porsi asset ratio = Total Asset
asset yang didanai dengan
Pinjaman. =
$830 = 32,81%
$2.530
ABC Computer Company Balance Sheet
ABC Computer Company
Income Statement
Assets (US$) Liabilities (US$)
Sales + 1.450
Cash 175 Account payable 115
Cost of Goods Sold - 875
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200 Current assets 1.230 Bond 600
Net Operating Income = 330 Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Debt to Equity Ratio
Debt to equity ratio mengukur Debt to Total Liabilities
perbandingan saldo pinjaman equity ratio = Total Equities
terhadap total ekuitas dalam neraca $830
perusahaan = = 48,82%
$1.700
ABC Computer Company
Balance Sheet
ABC Computer Company
Income Statement
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Time Interest Earned
Time interest earned mengukur Time interest EBITDA
kemampuan perusahaan memenuhi earned = Interest Expenses
kewajiban pembayaran bunga
pinjaman. = $162+$108+$60+$200 = 8,83 kali
$60
ABC Computer Company
Income Statement
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115 EBITDA adalah
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Taxes (40%) - 108
Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530
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Debt Service Ratio
ABC Computer Company
Debt service ratio mengukur kemampuan perusahaan Income Statement
dalam memenuhi beban tetapnya termasuk angsuran Sales + 1.450
pokok pinjaman. Cost of Goods Sold - 875
Gross Profit = 575
Semakin besar rasio ini, semakin besar kemampuan Operating Expenses - 45
perusahaan membayar beban bunga dan pokok Depreciation - 200
pinjamannya Net Operating Income = 330
Interest Expense - 60
Net Income Before Taxes = 270

Debt service EBITDA Taxes (40%) - 108

ratio = Interest + Principal Payment Net Income = 162
Dividends Paid - 100
= $162+$108+$60+$200 = 2,04 kali Addition to R/E = 62
$60 + $200
EBITDA adalah laba sebelum bunga,
pajak, penyusutan dan amortisasi
Asumsi : Principal payment ; $200/th

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 Analisis Solvabitas
PT Indonesia Power dan Anak Perusahaannya

Rasio solvabilitas digunakan untuk melihat kemampuan Perusahaan membayar kewajiban jangka panjang
maupun seluruh utangnya. Rasio ini terdiri dari Debt to Total Assets Ratio (Rasio Utang) dan Debt to Total
Equity Ratio (Rasio Utang terhadap Modal). Semakin kecil nilai rasionya menunjukkan semakin kecil
kewajiban yang harus dipenuhi oleh Perusahaan kepada pihak lain.

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Analisa Aktivitas
Analisis untuk mengukur efisien atau tidaknya pengelolaan sumber daya atau asset yang
dimiliki perusahaan, sbb :
1. Inventory turnover mengukur efisiensi manajemen persediaan dengan membagikan
pemakaian material dengan rata2 saldo persediaan dalam satu tahun.
2. Inventory period mengukur berapa lama kas tersimpan dalam bentuk persediaan
dalam satu tahun.
3. Receivable turnover mengukur seberapa cepat penagihan piutang usaha menjadi kas
yang dihitung dengan membagikan total penjualan terhadap rata2 saldo piutang.
4. Collection period mengukur lamanya waktu yang dibutuhkan untuk mengkonversi
penjualan menjadi kas yang dihitung dengan membagikan 365 hari dengan receivable
turnover.
5. Total asset turnover mengukur berapa kali total asset tetap mengalami perputaran
dalam satu tahun.

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Inventory Turnover
Inventory turn over mengukur berapa kali Inventory COGS
perputaran material dalam satu tahun. turn over (ITO) = Average Inventory
ITO mengukur efisiensi pengelolaan persediaan = $875 = 1,40 kali
oleh manajemen dalam mengontrol modal yang $625
tersimpan dalam persediaan. Balance Sheet
ABC Computer Company
ABC Computer Company Assets (US$) Liabilities (US$)
Income Statement Cash 175 Account payable 115
Sales + 1.450 Account receivables 430 ST-Notes 115
Cost of Goods Sold - 875
Inventories 625 Current liabilities 230
Gross Profit = 575
Current assets 1.230 Bond 600
Operating Expenses - 45
Plant & Equipment 2.500 Total liabilities 830
Depreciation - 200
Net Operating Income = 330
Less: Acc. Depr. (1.200) Common stocks 300
Interest Expense - 60 Net fixed assets 1.300 Paid in capital 600
Net Income Before Taxes = 270 Retained earning 800
Taxes (40%) - 108 Total equities 1.700
Net Income = 162 Total activa 2.530 Total passiva 2.530
Dividends Paid - 100
Addition to R/E = 62
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Inventory Period
Inventory period mengukur berapa Inventory period = 365
lama kas tertanam dalam bentuk ITO
persediaan dalam satu Tahun. 365
= = 260,7 hari
1,4x
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45
Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Taxes (40%) - 108 Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

Strictly Confidential
Receivable Turnover
Receivable turn over mengukur berapa kali Receivable =
Total Sales
perputaran piutang dalam satu tahun turn over Average Receivable
(konversi dari penjualan menjadi kas. $1.450 = 3,37 kali
= $430
ABC Computer Company Balance Sheet
ABC Computer Company
Income Statement
Assets (US$) Liabilities (US$)
Sales + 1.450
Cash 175 Account payable 115
Cost of Goods Sold - 875
Account receivables 430 ST-Notes 115
Gross Profit = 575
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200 Current assets 1.230 Bond 600
Net Operating Income = 330 Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60 Less: Acc. Depr. (1.200)Common stocks 300
Net Income Before Taxes = 270 Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Retained earning 800
Net Income = 162
Total equities 1.700
Dividends Paid - 100
Total activa 2.530 Total passiva 2.530
Addition to R/E = 62

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Average Collection Period
Average collection period mengukur Average Average Receivables
efisiensi penagihan piutang (konversi dari Collection period Total Sales/365
penjualan menjadi kas) dalam setahun. $430
=
$1.450/365 = 108,2 hari
ABC Computer Company Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

Strictly Confidential
Net Working Capital
NWC Ratio = Current assets – Cash/bank
Net working capital mengukur efisiensi Current Liabilities
investasi dalam working Capital.
= $1,230 - $175 = 4,59 kali
$230
ABC Computer Company Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

Strictly Confidential
Total Asset Turnover
Total asset turn over mengukur efisiensi Total asset Total Sales
= Average Total Asset
pemanfaatan asset, berapa kali asset turn over
mengalami perputaran dalam satu tahun. = $1.450 = 0,57 kali
$2.530
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200 Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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 Analisa Aktivitas
PT Indonesia Power dan Anak Perusahaannya

Merupakan rasio-rasio yang menunjukkan keefektifan sebuah perusahaan dalam

menggunakan aset yang dimilikinya.

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Analisa Profitabilitas
Analisis untuk mengukur kemampuan perusahaan untuk menghasilkan imbal
hasil (return):

1. Gross profit margin

2. Net profit margin
3. EBITDA margin
4. Earning per share
5. Return on equity
6. Return on asset
7. Return on investment

Strictly Confidential
Gross Profit Margin
Gross profit margin mengukur rasio laba Gross profit =
Gross Margin
usaha terhadap total Perjualan. margin Total Sales
= $575 = 39.66%
$1.450
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200 1.230 Bond
Current assets 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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EBITDA Margin
EBITDA margin mengukur rasio laba bersih EBITDA =
EBITDA
+ biaya bunga + pajak + depresiasi terhadap Margin Total Sales
total Perjualan.
= $162+$108+$60+$200 = 36.55%
$1.450
ABC Computer Company Balance Sheet
ABC Computer Company
Income Statement
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Net Profit Margin
Net profit margin mengukur rasio laba Net profit = Net Income
bersih setelah pajak terhadap total margin Total Sales
perjualan. = $162 = 11.17%
$1.450
ABC Computer Company
Balance Sheet
Income Statementc ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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Return on Asset (ROA)
Return on asset mengukur tingkat imbal Return on Net Income
hasil dari setiap Rupiah yang diinvestasikan asset = Total Asset
dalam asset. $162 = 6,40%
=
$2.530
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Taxes (40%) - 108
Net fixed assets 1.300 Paid in capital 600
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

Strictly Confidential
Return on Equity (ROE)
Return on equity mengukur tingkat imbal Return on Net Income
hasil dari ekuitas yang diinvestasikan oleh Equity = Total Equities
pemilik saham. $162 = 9,53%
=
$1.700
ABC Computer Company
Balance Sheet
Income Statement ABC Computer Company
Sales + 1.450 Assets (US$) Liabilities (US$)
Cost of Goods Sold - 875 Cash 175 Account payable 115
Gross Profit = 575 Account receivables 430 ST-Notes 115
Operating Expenses - 45 Inventories 625 Current liabilities 230
Depreciation - 200
Current assets 1.230 Bond 600
Net Operating Income = 330
Plant & Equipment 2.500 Total liabilities 830
Interest Expense - 60
Less: Acc. Depr. (1.200) Common stocks 300
Net Income Before Taxes = 270
Net fixed assets 1.300 Paid in capital 600
Taxes (40%) - 108
Net Income = 162 Retained earning 800
Dividends Paid - 100 Total equities 1.700
Addition to R/E = 62 Total activa 2.530 Total passiva 2.530

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 Analisa Profitabilitas
PT Indonesia Power dan Anak Perusahaannya

Kemampuan Perusahaan dalam menghasilkan laba diukur menggunakan rasio-rasio

profitabilitas yang terdiri dari Return on Equity (tingkat pengembalian modal), Return on
Investment (tingkat pengembalian investasi) Operating Profit Margin (margin operasi), dan Net
Profit Margin (margin laba bersih).

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Keterbatasan Analisis Laporan Keuangan

1. Perusahaan besar mengoperasikan beberapa divisi dalam

industri yang berbeda.
2. Sebagian besar perusahaan menginginkan hasil di atas rata
rata industri , bukannya pada perusahaan yang menjadi
“leader” pada industri tersebut
3. Faktor inflasi
4. Faktor musiman
5. Window dressing
6. Praktik akuntansi yang berbeda
7. Faktor nilai

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TERIMA KASIH