Analisis Laporan Keuangan
Definisi
Laporan Keuangan:
▪ Laporan Posisi Keuangan
▪ Laporan Laba Rugi dan OCI
▪ Laporan Perubahan Modal
▪ Laporan Arus Kas
▪ Catatan atas Laporan Keuangan [CALK]
INPUT
PROSES
Analisis Laporan Keuangan:
▪ Proses evaluasi posisi keuangan dan
kinerja Perusahaan menggunakan
laporan keuangan
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OUTPUT
▪ Laporan Keuangan
▪ Metode Analisis LK
▪ Informasi yang berguna
2
Tujuan Analisis
Screening
Analisis terkait proses M&A
Forecasting
Proyeksi keuangan
Diagnosis
Deteksi permasalahan/hambatan
Evaluation
Penilaian berdasarkan predetermined standard
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3
Sudut Pandang Analisis
• Management
▪ Performance: Contributors, Lossers, Follow Up
• Creditor ▪ Willingness & ability debtor to fulfill obligations in full
• Investor
• Government
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▪ Business prospects and risks
▪ Fairness and Compliance
4
Metode Analisis
• Analisis Horisontal
Analisis trend
• Analisis Vertikal
Common size
• Analisis Rasio
▪ Historis
K
O
M
P
A
R
A
S
I
▪ Rencana/Proyeksi
▪ Peers
▪ Industri
Antar akun LK
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Analisis Rasio
Liquidity
Kemampuan memenuhi kewajiban-short term
Solvability
Kemampuan memenuhi kewajiban-long term
Profitability
Kemampuan menghasilkan laba
Activity
Kemampuan memanfaatkan aktiva
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Analisis Rasio - Liquidity
Current Ratio
Quick Ratio
Cash Ratio
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=
Current Assets
Current Liabilities
=
Cash+A/R
Current Liabilities
=
Cash
Current Liabilities
7
Analisis Rasio - Solvability
Times Interest Earned
Debt to Equity Ratio
Debt to Asset Ratio
DCSR
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=
EBITDA
Interest Expense
=
Total Liabilities
Total Equity
=
Total Liabilities
Total Asset
=
EBIT
Total Debt Service
8
Analisis Rasio - Profitability
Gross Profit Margin
Net Profit Margin
Return on Equity
Return on Asset
Dividend Payout Ratio
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=
Gross Profit
Net Sales
=
Net Income
Net Sales
=
Net Income
Avg. Equity
=
Net Income
Avg. Total Asset
=
Dividend
Net Income
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Analisis Rasio - Activity
Receivable TO
A/R Days
Inventory TO
Inventory Days
Asset TO
Fixed Asset TO
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=
Net Credit Sales
Avg. Net A/R
Operating Cycle
AR Days + Inv. Days
=
Days in Year
Rec. TO
=
COGS
Avg. Inventory
=
Days in Year
Inv. TO
=
Net Sales
Avg. Net Asset
=
Net Sales
Avg. Net Fixed Asset
Cash Conversion Cycle
Op. Cycle – A/P Days
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DISCUSSION
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