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THE ANALYSIS OF FINANCIAL STATEMENT #THE USE OF FINANCIAL RATIOS# Analisis rasio: Metode perhitungan dan interpretasi rasio keuangan untuk menilai prestasi dan status perusahaan. Income Statement. Input Dasar Balance Sheet.

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THE ANALYSIS OF FINANCIAL STATEMENT

#THE USE OF FINANCIAL RATIOS#

Analisis rasio: Metode perhitungan dan interpretasi rasio keuangan untuk menilai prestasi dan status perusahaan.

Income Statement

Input Dasar

Balance Sheet

Shareholders

Interested Parties Creditors

Managers

  • Types of Ratio Comparisons
  • Cross Sectional Analysis  Standard: Industry Average or Industry Leader
  • Time Series
  • Beberapa hal yang perlu diperhatikan dalam rasio finansial:
  • Satu rasio  bukan  menilai prestasi perusahaan secara umum
  • Perbandingan harus pada periode yang sama
  • Laporan finansial harus diaudit
  • Laporan finansial harus mempunyai format yang sama
  • Hasil perbandingan dapat terdistorsi, karena inflasi
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Liquidity Ratios

  • Activity Ratios
  • Financial Ratios Measure risk
  • Debt Ratios
  • Profitability Ratios Measure return
  • Measures of Liquidity:
  • Net Working Capital = Current Assets – Current Liabilities
  • Current Ratio = Current Assets : Current Liabilities
  • Quick (Acid Test) Ratio = (Current Assets) : (Current Liabilities-Inventory)
  • Measures of Activity:
  • Inventory Turnover = CGS : Inventory
  • Average Collection Period = Accounts Receivable : (Annual sales/360)
  • Average Payment Period = Accounts Payable : (Annual sales/360)
  • Fixed Assets Turnover = Sales : Net Fixed Assets
  • Measures of Debt:
  • Degree of Indebtedness: Mengukur jumlah hutang thp jumlah
  • Types of Debt Measures komponen yang penting dalam neraca
  • Ability to Service Debts: Mengukur kemampuan perusahaan untuk
  • Melakukan pembayaran sesuai kontrak
  • Debt Ratio = Total Liabilties: Total Assets
  • Debt – Equity Ratio = Long Term Debt : Stockholders’ Equity
  • Times Interest Earned Ratio = EBIT : Interest
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(EBIT + Lease Payments)

Fixed Payment Coverage Ratio = -----------------------------------------------

Interest + Lease Payment + {[Principal Payments +

Preferred Stock Dividends] x [ 1/ (1-T)]}

Measures of Profitability:

Common Size Income Statements: Setiap item dalam Income Statements diprosentasekan terhadap

Penjualan

Gross Profit Margin = Gross Profits : Sales

Operating Profit Margin = Operating Profits : Sales

Net Profit Margin = EAT : Sales

Return on Investment = EAT : Total Assets

Return on Equity = EAT : Stockholders’ Equity

Earnings Available for Common Stockholders

Earnings Per Share = ---------------------------------------------------------------

Number of Shares of Common Stock Outstanding

Price / Earnings Ratio = Market Price Per Share of Common Stock : Earnings Per Share

Two Approaches to Complete Ratio Analysis:

DuPont System of Analysis.

Summary Analysis of a Large Number of Ratios

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SALES $3,074,000

CGS $2,088,000

OPERATING EXPENSES $1,074,000

NET PROFIT $231,000

NET PROFIT MARGIN 7.5%

INTEREST EXPENSES $93,000

SALES $3,074,000

ROI

6.4 %

TAXES $94,000

SALES $3,074,000

CURRENT ASSETS $1,223,000

TOTAL ASSETS TURNOVER 0.85

TOTAL ASSETS $3,597,000

ROE

11.8 %

NET FIXED ASSETS $2,374,000

CURRENT LIABILITIES $620,000

TOTAL LIABILITIES + STOCKHOLDERS’ EQUITY = TOTAL ASSETS $3,597,000

TOTAL LIABILITIES $1,643,000

EQUITY MULTI

PLIER 1.84

LONG TERM DEBT $1,023,000

STOCKHOLDERS’ EQUITY $1,954,000

STOCKHOLDERS’ EQUITY $1,954,000

DUPONT SYSTEM OF ANALYSIS

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PROBLEMS

I. Balance Sheet Completion Using Ratio. Complete the 2008 balance sheet for O’Keefe Industries using the information that follows it.

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II. Go to idx or jsx Website. Find the financial statement for 5 years. Analyse them and make a conclusion.

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