Analisis Profitabilitas dan Prospektif Laporan Keuangan.docx
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Transcript of Analisis Profitabilitas dan Prospektif Laporan Keuangan.docx
universitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamauniver
Kelompok 8
Inneke Wangsaharja (10 13 008)Michella Yapari A. (10 13 026)
Desy Krisma (10 13 050)Tresna Seplinawati M. (10 13 051)
Kelas Akuntansi C
UNIVERSITAS ATMA JAYA MAKASSARFAKULTAS EKONOMIJURUSAN AKUNTANSI
2011/2012
universitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamakassaruniversitasatmajayamauniver
Analisis ProfitabilitasNOPAT untuk tahun 2010 dan 2011 adalah
Tahu
nEffective tax rate NOPAT
2010 Rp93.022.310 .631Rp 482.272.893 .555
=19,29 % Rp 374.920.290.937 x ( 1 – 19,29%) = Rp 302.598.166.815,2527
2011 Rp124.766 .421 .467Rp618.777 .509 .297
=20,16 % Rp 539.458.727.099 x ( 1 – 20.16%)= Rp 430.703.847.715,8416
Return on net operating assets (RNOA) untuk tahun 2010 adalah:
RNOA= NOPATAverageNOA
=Rp 302.598.166.815,2527
[ ( Rp 9.378.342.136.927+Rp11.524.866.822.316 )÷2 ]
=Rp 302.598.166.815,2527( Rp20.903.208.959.243÷2)
=Rp 302.598.166.815,2527Rp10.415.604.479.621,5
=2,89%
Return on net operating assets (RNOA) untuk tahun 2011 adalah:
RNOA= NOPATAverageNOA
=Rp430.703 .847 .715,8416
[ ( Rp 9.378.342.136.927+Rp11.524.866.822.316 )÷2 ]
=Rp 430.703.847.715,8416( Rp20.903.208.959.243÷2)
=Rp 430.703.847.715,8416Rp10.415.604.479.621,5
=4,12%
Return on common equity (ROCE) untuk tahun 2010 adalah:
ROCE=Lababersih−dividensaham preferenrata−rata ekuitas pemegang saham
¿ Rp389.250 .582.924−0
[ (Rp3.798 .627 .978 .190+Rp3.798 .627 .978 .190 )÷2 ]¿Rp389.250 .582.924Rp3.798 .627 .978 .190
¿10,24 %
Return on common equity (ROCE) untuk tahun 2010 adalah:
ROCE=Lababersih−dividensaham preferenrata−rata ekuitas pemegang saham
¿ Rp494.011.087 .830−0
[ (Rp3.798 .627 .978 .190+Rp3.798 .627 .978 .190 )÷2 ]¿Rp 494.011.087 .830Rp3.798 .627 .978 .190
¿13 %
Analisis Prospektif1. Proyeksi Laporan Laba Rugi
Berdasarkan laporan laba rugi PT. CIPUTRA Development Tbk sebelumnya, maka dapat dihitung rasio-rasio pada tahun 2011 sebagai berikut: Sales Growth
SalesGrowth=Sales2011sales2010
×100 %
¿ Rp2.178 .331 .003 .289Rp1.692 .687 .370 .087
×100 %
¿128,69%
Gross Profit Margin
Gross Profit Margin=Gross Profit2011Sales2011
×100 %
¿ Rp1.042 .992.195 .142Rp2.178 .331 .003.289
×100 %¿47,88 %
Selling , general and administrative expense
Selling ,general∧administrative expense2011sales2011
×100 %
¿ Rp380.523 .141 .993+Rp163.019 .416 .367Rp2.178 .331.003 .289
×100 %¿24,95 %
Income Tax expense 2011/Pretax expenseIncome Tax expense2011Pretax expense 2011
×100 %
¿ Rp124.766 .421 .467Rp618.777 .509 .297
×100 %¿20,16 %
Projected Income Statement Forecasting step 2012 Estimate
Income statementTotal revenues............................................................... 1 Rp 2.803.294.168.132,6141 Cost of good sold........................................................... 3 1.461.076.920.430,7185
Gross profit.................................................................... 2 1.342.217.247.701,8956Selling, general, and administrative expense................ 4 699.421.894.949,0872
Income before tax......................................................... 5 642.795.352.752,8084Income tax expenses..................................................... 6 129.587.543.114,9661
Net income.................................................................... 7 Rp 513.207.809.637,8422
Forecasting Assumption (In Percent)Sales Growth......................................................................... 128,69%Gross Profit Margin............................................................... 47,88%Selling , general and administrative expense........................ 24,95%Income Tax expense 2011/Pretax expense........................... 20,16%
Estimasi Laporan Laba Rugi
Tahun 2012
1. Sales sales=Rp2.178 .331.003 .289×1,286
¿ Rp2.803.294 .168.132,6141
2. Gross Profit GrossProfit=Rp2.803 .294 .168 .132,6141×0,4788
¿ Rp1.342.217 .247 .701,8956
3. Cost Of Goods SoldCost Of Goods Sold=Rp2.803 .294 .168 .132,6141−Rp1.342.217 .247 .701,8956
¿ Rp1.461.076 .920 .430,7185
4. Selling, General, and Administrativeselling, general ,∧administrative=Rp2.803.294 .168.132,6141×0,2495
¿ Rp699.421.894 .949,0872
5. Income Before TaxIncome BeforeTax=Rp1.342 .217.247 .701,8956−Rp699.421.894 .949,0872
¿ Rp642.795.352 .752,8084
6. Tax ExpenseTax Expense=Rp642.795.352 .752,8084×0,2016
¿ Rp129.587.543 .114,9661
7. Net Income Net Income=Rp642.795 .352 .752,8084−Rp129.587 .543 .114,9661
¿ Rp513.207.809 .637,8422
2. Proyeksi Neraca
Tahun 2010 Account Receivable Turnover Rate
Account ReceivableTurnover Rate= SalesReceivables
¿ Rp1.692 .687 .370 .087Rp179.296 .995 .188
¿9,441×
Inventory Turnover Rate
Inventory Turnover Rate=Cost of goods soldI nventory
¿ Rp957.985.199 .480Rp2.154 .509 .310 .604
¿0,445×
Accounts Payable Turnover Rate
Accounts Payable Turnover Rate=Cost of goods soldAccounts payable
¿ Rp957.985 .199 .480Rp27.157 .406 .998
¿35,275×
Accrued Expenses Turnover Rate
Accrued Expenses Turnover Rate= SalesAccrued Expenses
¿ Rp1.692 .687 .370 .087Rp26.706 .732 .763
¿63,3805
Tax Payable/Tax expenseTax PayableTaxExpense
×100 %
¿ Rp34.186 .176 .342Rp93.022 .310 .631
×100 %¿36,751%
Tahun 2011 Account Receivable Turnover Rate
Account ReceivableTurnover Rate= SalesReceivables
¿ Rp2.178 .331 .003.289Rp277.277 .894 .330
¿7,85×
Inventory Turnover Rate
Inventory Turnover Rate=Cost of goods soldInventory
¿ Rp1.135 .338 .808 .147Rp2.675 .218 .498 .778
¿0,4243×
Accrued Expenses Turnover Rate
Accrued Expenses Turnover Rate= SalesAccrued Expenses
¿ Rp2.178 .331 .003.289Rp33.055 .188 .280
¿65,8998
Accounts Payable Turnover Rate
Accounts Payable Turnover Rate=Cost of goods soldAccounts payable
¿ Rp1.135 .338 .808 .147Rp27.962 .855 .820
¿40,60×
Tax Payable/Tax expenseTax PayableTaxExpense
×100 %
¿ Rp52.363 .900 .875Rp124.766 .421 .467
×100 %¿41,96 %
Projected Balance Sheet
(Dalam rupiah) Forecasting Step
2012 Estimates 2011
AsetKas dan setara kas.............................. 7InvestasiPiutang usaha..................................... 1Piutang lain-lainPersediaan.......................................... 2Pajak dibayar dimuka
1.280.537.638.309,503 2.109.129.637.191 261.751.937.186 261.751.937.186 357.107.537.341,7342 277.277.894.330 47.538.192.683 47.538.192.6833.443.499.694.628,1369 2.675.218.498.778 227.062.070.552 227.062.070.552
Piutang pihak berelasiAset pajak tangguhan-netoTanah untuk pengembanganAset tetapProperti investasiAset lain-lain
Jumlah aset
Liabilitas dan EkuitasLiabilitasUtang bankUtang usaha kepada pihak ketiga...... 3Utang lain-lainUtang pihak berelasiBiaya yang masih harus dibayar........ 4Utang pajak....................................... 5Liabilitas imbalan kerjaUang mukaPendapatan diterima dimukaUtang biaya pembangunan
Liabilitas pajak tangguhan-neto
Jumlah liabilitas
EkuitasModal sahamTambahan modal disetorSelisih perubahan ekuitasSelisih nilai transaksi restrukturisasiSelisih nilai transaksi ekuitasSelisih kursSaldo laba telah ditentukan penggunaannya belum ditentukan penggunaannya
Ekuitas netoKepentingan non pengendali
Jumlah Ekuitas
Jumlah liabilitas dan ekuitas
Selected Ratios
17.340.034.020 17.340.034.020 845.402.661 845.402.6612.110.538.328.855 2.110.538.328.8552.383.992.116.329 2.383.992.116.329 971.707.755.409 971.707.755.409 442.464.954.322 442.464.954.322
11.544.385.662.296,3741 11.524.866.822.316
801.939.388.346 801.939.388.346 35.987.116.266,7664 27.962.855.820 202.910.554.841 202.910.554.841 - - 42.538.735.597,5680 33.055.188.280 54.374.933.091,0397 52.363.900.875 51.501.524.683 51.501.524.683
2.156.910.491.492 2.156.910.491.492 156.256.000.216 156.256.000.216 357.530.626.763 357.530.626.763
37.002.102.186 37.002.102.186
3.896.951.473.482,3741 3.877.432.633.502
3.791.453.998.500 3.791.453.998.500 7.173.979.690 7.173.979.690 838.253.660.301 838.253.660.301 14.962.799.656 14.962.799.656 13.290.036.031 13.290.036.031 1.223.600 1.223.600
10.000.000 10.000.000 441.544.821.940 441.544.821.940
5.106.690.519.718 5.106.690.519.7182.540.743.669.096 2.540.743.669.096
7.647.434.188.814 7.647.434.188.814
11.544.385.662.296,3741 11.524.866.822.316
Accounts receivable turnover rateInventory turnover rateAccounts payable turnover rateAccrued expenses turnover rateTaxes payable/Tax expenses
7,85 x 7,85 x 0,4243× 0,4243× 40,60× 40,60× 65,8998 65,8998 41,96% 41,96%