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Manajemen Keuangan Korporasi dan Perbankan [3] October 2, 2009

Posted by desrinda in Keuangan dan Perbankan.
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KEY FINANCIAL RATIOS

Profitability Ratios
1. Rate of return on common equity
2. Rate of return on total assets
3. Profit margin on sales

Asset Utilization (“activity” or “turnover” ratios)
4. Inventory turnover
5. Fixed asset turnover
6. Total asset turnover

Risk Measure – Liquidity
7. Current ratio
8. Quick or “acid test” ratio

Risk Measure – Leverage
9.   Debt per total assets ratio
10. Times interest earned

Market Price Ratios
11. Price-earnings ratio

Useful download: http://www.docstoc.com/docs/3357566/finance-ratios

Du Pont Chart:
http://www.businessplans.org/DuPontChart.html
http://www.orionco.net/ppt/Duponts_by_Morrison.pps

Modified du Pont chart:

modified du Pont Chart

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Manajemen Keuangan Korporasi dan Perbankan [2] September 11, 2009

Posted by desrinda in Keuangan dan Perbankan.
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Second class in this term by Pak Bintang, still continued to explore basic terms in financial management.

In first years of company’s operation, there would be “tax holiday” when there could be no tax obligation to be paid based on local government’s policy.

Balance Sheet Structure

Manajemen Keuangan Korporasi dan Perbankan [1] September 5, 2009

Posted by desrinda in Keuangan dan Perbankan.
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DSC00075

Asyik sekali mendengarkan kuliah kali ini dari Pak Bintang yang sangat interaktif. Berlatar belakang pendidikan Teknik Mesin (S1), Teknik Industri (S2), dan Ekonomi (S3), beliau mengajar kami mengenai pengelolaan keuangan perusahaan (termasuk BUMN) dari prespektif yang berbeda dari yang diketahui dari media massa umumnya. Saking asyiknya, tak terasa berlangsung jauh melewati jadwal yang seharusnya, molor menjadi 12:30 – 15:10 WIB.

Text book: Any books titled with Manajemen Keuangan, Financial Management, Financial Management of Banks.
Recommended: Brigham, Eugene F, Financial Management: Theory and Practice, Hindsdale: Dryden Press, 1976.

SILABUS
1. Peranan Manajemen Keuangan
2. Neraca Keuangan
3. Perbandingan Keuangan
4. Penanaman dan Perencanaan Investasi
5. Antara Saham dan Obligasi
6. Keuangan Korporasi
7. Biaya Modal
8. Model-Model Investasi
9. Analisa Portofolio
10.Penggabungan Bisnis
11.Keuangan Perbankan
12.Keuangan Multinasional

Ujian 3x: UTS (topik 1-7), UAS (komprehensif), dan satu kali ujian sebelum UAS. Nilai diambil dari rata-rata nilai dari 2x ujian.

Topik 4-8 berkaitan dengan Ekonomi Teknik.

Proses manajemen keuangan juga menerapkan tahapan seperti proses yang lain, yaitu: PLANNING – ORGANIZING – EXECUTING – CONTROLLING – EVALUATION.

Manajer keuangan (atau financial controller) berperan memperhitungkan agar perusahaan semakin berkembang, menaikkan harga saham, membuat laporan keuangan bagi para pemegang saham dan komisaris.

NERACA KEUANGAN
Every corporation must have below financial sheets:
1. Profit and loss statement (income statement, neraca laba rugi) => FLOW CONCEPT
2. Balance sheet (assets and claim of asset, neraca aktiva/pasiva, neraca kekayaan/kewajiban) => STOCK CONCEPT
3. Sources and uses of funds statement (neraca sumber dan penggunaan dana) => FLOW CONCEPT
4. Cash flow statement => FLOW CONCEPT
5. Statement of retained earnings => FLOW CONCEPT
* uses = application
** profit and loss statement, balance sheet, sources and uses of fund statement must be done simultaneously.

FLOW CONCEPT = stated for certain period (mostly annual).
STOCK CONCEPT = stated for certain time (e.g. as per December 31).

COST AND EXPENSES = overhead cost, including cost of good sold (COGS consists of labor and materials, depreciation, selling, general and adminsitrative, lease payment on office building etc).

ASSETS = land, building, machineries (there should be funds prepared to anticipate depreciation).

DEPRECIATION CONCEPTS
1. Dana harus disisihkan sewaktu-waktu untuk menggantikan asset yang rusak.
2. Setiap asset lama kelamaan akan aus.
3. Dibutuhkan dana untuk rekapitulasi.

Depreciation = decreased value of asset
Amortization = decreased value of debt
Methods: Straight line, etc.

SHARES
Initial offered price for share = face value or nominal value or par value.

Earning per Share (EPS) or Dividens per Share (DPS) = book value, it’s different from market value of each share.

Faktor produksi: LAND (paid by rent), LABOR (paid by salary), CAPITAL (paid by interest).

PAYABLE, FIRST MORTGAGE (dengan agunan), DEBENTURES (tanpa agunan) = hutang
RECEIVABLES = piutang
MARKETABLE SECURITIES = surat berharga, jika diperdagangkan disebut SBPU (Surat Berharga Pasar Uang)
COST OF DEPRECIATION = dihitung kumulatif, bertambah dari tahun ke tahun sejak tahun pertama
ADDITIONAL PAID IN CAPITAL = harga kelebihan penjualan saham dibandingkan dengan par value