Adeng Pustikaningsih, M.Si. Dosen Jurusan...

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Adeng Pustikaningsih, M.Si.

Dosen Jurusan Pendidikan Akuntansi

Fakultas Ekonomi

Universitas Negeri Yogyakarta

CP: 08 222 180 1695

Email : [email protected]


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Accounting for Partnerships

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1. Describe the basic characteristics of

proprietorships, partnerships, and

limited liability companies.

2. Describe and illustrate the accounting

for forming a partnership and for

dividing the net income and net loss

of a partnership.

After studying this chapter, you should

be able to:


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for partner admission and withdrawal.


for liquidating a partnership.

5. Prepare the statement of partnership

equity.

After studying this chapter, you should

be able to:


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Describe the basic

characteristics of

proprietorships,

partnerships, and limited

liability companies.

Objective 1

12-1


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Advantages

• Simple to form

• Ability to be one’s own

boss

Disadvantages

• Difficulty in raising

large amounts of capital

• Unlimited liability

12-1

A proprietorship is a business

enterprise owned by a single individual.

Proprietorship


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A partnership is an association of

two or more individuals who own

and manage a business for profit.

Advantages

• More financial

resources than a

proprietorship

• Additional

management skills

Disadvantages

• Limited life

• Unlimited liability

• Co-ownership of

partnership property

• Mutual agency

12-1 Partnership


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An important right of partners is to

participate in the income of the

partnership.

12-1

A partnership, like a proprietorship, is a

nontaxable entity.

A partnership is created by a contract,

known as the partnership agreement or

articles of partnership.

Partnership


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In Indonesia, Limited Partnership is called CV

(Commonditaire vennootschap). CV is a

partnership consisting of one or more (active

partner) and one or more silent partner (or

passive partner). Example = CV Cemara

Group Indonesia in Medan that sells palm oil,

coconut, and spices.

CV (Commonditaire Vennootschap) 12-1


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Firma is another common form of partnership

in Indonesia. Firma or abbreviated as Fa is

widely used for professional firm such as law

firm or accounting firm. The example of a

accounting firm is KAP Purwantono, Sarwoko

and Sandjaja, and accounting firm affiliated

with Ernst and Young which is about 17

partners in the firm.

Firma 12-1


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Ease of Formation

Proprietorship Simple

Partnership Moderate

CV and Firma Moderate

Characteristics of

Proprietorships, Partnerships,

and CV and firma

12-1 2


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12-1

Legal Liability

Proprietorship No limitation

Partnership No limitation

CV and Firma Limited liability

Characteristics of

Proprietorships, Partnerships, CV

and Firma

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12-1

Taxation

Proprietorship Nontaxable*

Partnership Nontaxable*

CV and Firma Nontaxable**

*Pass-through entity

**Pass-through entity by election

Characteristics of


and Firma

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12-1

Limitation on Life of Entity

Proprietorship Yes

Partnership Yes

CV and Firma Yes

Characteristics of


and Firma

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12-1

Access to Capital

Proprietorship Limited

Partnership Limited

CV and Firma Limited

Characteristics of


and Firma

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Describe and illustrate the

accounting for forming a

partnership and for dividing

the net income and net loss

of a partnership.

Objective 2

12-2


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Forming a Partnership 12-2

Joko Suhendro and Endang Fauzi agree to

combine their hardware businesses in a

partnership. Each is to contribute certain

amounts of cash and other assets. They

also agree that the partnership is to assume

the liabilities of the separate businesses.


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Joko’ Transfer of Assets, Liability, and Equity

12-2

Apr. 1 Cash 7 200 000

Accounts Receivable 16 300 000

Merchandise Inventory 28 700 000

Store Equipment 5 400 000

Office Equipment 1 500 000

Allowance for Doubtful Accounts 1 500 000

Accounts Payable 2 600 000

Joko Suhendro, Capital 55 000 000


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A similar entry would record the assets

contributed and the liabilities

transferred by Fauzi. In each entry, the

noncash assets are recorded at values

agreed upon by the partners. These

values normally represent current

market values.

12-2


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Example Exercise 12-1

12-2

Riana Hasibuan contributed equipment, inventory, and

Rp34,000,000 cash to a partnership. The equipment had a

book value of Rp23,000,000 and market value of

Rp29,000,000. The inventory had a book value of

Rp60,000,000 but only had a market value of

Rp15,000,000 due to obsolescence. The partnership also

assumed a Rp12,000,000 note payable owed by Howell

that was used originally to purchase the equipment.

Provide the journal entry for Hasibuan’s contribution to

the partnership.


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20 For Practice: PE 12-1A, PE 12-1B

Follow My Example 12-1

12-2

Cash 34,000,000

Inventory 15,000,000

Equipment 29,000,000

Notes Payable 12,000,000

Riana Hasibuan, Capital 66,000,000


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The partnership agreement of Jamila Sari and

Chandra Mono provides for Sari to receive a

monthly allowance of Rp 5,000,000 (Rp

60,000,000 annually) and Mono is to receive

Rp 4,000,000 a month (Rp 48,000,000

annually). If there is any remaining net

income, it is to be divided equally. The firm

had a net income of Rp 150,000,000 for the

year.

Dividing Income—Services of

Partners

12-2


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J. Sari C. Mono Total Annual salary allowance Rp 60,000,000 Rp48,000,000 Rp 108,000,000

Remaining income 21,000,000 21,000,000 42,000,000

Division of net income Rp 81,000,000 Rp69,000,000 Rp 150,000,000

12-2 Division of Net Income

to journal entry

(Slide 24)


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12-2

The entry for dividing net income is as follows:

Dec. 31 Income Summary 150 000 000

Jamila Sari, Capital 81 000 000

Chandra Mono, Capital 69 000 000


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12-2 Dividing Income—Services of

Partners and Investments

The partnership agreement for Sari and Mono

divides income as follows:

1. Monthly salary allowance of Rp 5,000,000 for

Stone and Rp 4,000,000 for Mills.

2. Interest of 12% on each partner’s capital

balance on January 1.

3. If there is any remaining net income, it is to be

divided equally between the partners.


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Division of Net Income

Salary allowance Rp60,000,000 Rp48,000,000 Rp108,000,000

Interest allowance 19,200,000 14,400,000 33,600,000

12-2

Net income of Rp 150,000,000 is divided.

J. Sari C. Mono Total


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Salary allowance Rp 60,000,000 Rp 48,000,000 Rp108,000,000


12-2

12% x Sari’s

capital account

balance on Jan. 1 of

Rp 160,000,000

J. Sari C. Mills Total



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J. Sari C. Mono Total Salary allowance Rp 60,000,000 Rp 48,000,000 Rp 108,000,000


12-2

12% x Mono’s

capital account

balance on Jan. 1 of

Rp120,000,000



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Division of Net Income 12-2


Salary allowance Rp 60,000,000 Rp48,000,000 Rp108,000,000


Remaining income 4,200,000 4,200,000 8,400,000

Division of net income Rp 83,400,000 Rp66,600,000 Rp150,000,000



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12-2



Jamila Sari, Capital 83 400 00

Chandra Mono, Capital 66 600 00


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12-2



Jamila Sari, Member Equity 83 400 00

Chandra Mono, Member Equity 66 600 00

Partnership Alternative


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Assume the same facts as

before except that the net

income is only

Rp100,000,000.

12-2 Dividing Income—Allowances

Exceed Net Income


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Salary allowance Rp60,000,000 Rp48,000,000 Rp108,000,000


Total Rp79,200,000 Rp62,400,000 Rp141,600,000

Net income of Rp100,000,000 is divided.

This amount exceeds net

income by

Rp41,600,000.


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J.Sari C. Mono Total Salary allowance Rp60,000,000 Rp48,000,000 Rp108,000,000


Total Rp79,200,000 Rp62,400,000 Rp141,600,000

Deduct excess of

allowance over income 20,800,000 20,800,000 <41,600,000>

Net income Rp58,400,000 Rp41,600,000 Rp100,000,000

Net income of Rp100,000,000 is

divided.


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12-2

Steven Pamungkas and Cinta Bimantara formed a

partnership, dividing income as follows:

1. Annual salary allowance to Prince of Rp42,000,000.

2. Interest of 9% on each partner’s capital balance on

January 1.

3. Any remaining net income divided equally.

Pamungkas and Bimantara had Rp20,000,000 and

Rp150,000,000 in their January 1 capital balances,

respectively. Net income for the year was Rp240,000,000.

How much net income should be distributed to Pamungkas?


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12-2

Monthly salary Rp 42,000,000

Interest (9% x Rp20,000,000) 1,800,000

Remaining income 91,350,000*

Total distributed to Pamungkas Rp135,150,000

*(Rp240,000,000 – Rp42,000,000 – Rp1,800,000 –

Rp13,500,000) x 50%


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Describe and illustrate

the accounting for

partner admission

and withdrawal.

Objective 3

12-3


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1. Purchasing an interest from one or more

of the current partners.

2. Contributing assets to the partnership.

A person may be admitted to a partnership

only with the consent of all the current

partners by:

12-3 Admitting a Partner


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Partners Toni Asikin and Nani Bunga

have capital balances of

Rp50,000,000 each. On June 1, each

sells one-fifth of his equity to Joko

Cahyadi for Rp10,000,000 in cash.

12-3 Purchasing an Interest in a

Partnership


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12-3

The only entry required in the partnership

accounts is as follows:

June 1 Toni Asikin, Capital 10 000 000

Nani Bunga, Capital 10 000 000

Joko Cahyadi, Capital 20 000 000


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12-3

The effect of the transaction on the partnership

accounts is presented in the following diagram:

Partnership Accounts

Asikin, Capital 10,000,000

Bunga, Capital 10,000,000

50,000,000

50,000,000

Cahyadi, Capital 20,000,000

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12-3 Contributing Assets to a

Partnership

Partners Dudi Lintang and Guntur

Margono have capital balances of

Rp35,000,000 and Rp25,000,000

respectively. On June 1, Suci Nadera

joins the partnership by permission and

makes an investment of Rp20,000,000

cash.


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12-3

June 1 Cash 20 000 000

Suci Nadera, Capital 20 000 000

The entry to record this transaction is as follows:


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12-3

The effect of the transaction on the partnership

accounts is presented in the following diagram:

Partnership Accounts

Nadera, Capital

Lintang, Capital 35,000,000

Margono, Capital 25,000,000

Net Assets

60,000,000

20,000,000

20,000,000


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12-3 LLC Alternative

June 1 Cash 20 000 000

Suci Nadera, Member Equity 20 000 000

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12-3 Revaluation of Assets

If the asset accounts do not reflect

approximate current market values

when a new partner is admitted, the

accounts should be adjusted

(increased or decreased) before the

new partner is admitted.


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Partners Dudi Lintang and Guntur

Margono have capital balances of

Rp35,000,000 and Rp25,000,000

respectively. The balance in

Merchandise Inventory is Rp14,000,000

and the current replacement value is

Rp17,000,000. The partners share net

income equally.

12-3


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June 1 Merchandise Inventory 3 000 000

Dudi Lintang, Capital 1 500 000

Guntur Margono, Capital 1 500 000

Because the LLC alternative follows a pattern of

replacing “Capital” with “Member Equity,” the

LLC entry will not be shown again.

12-3

The revaluation is recorded as follows:


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12-3

Budi Nadera invested Rp45,000,000 in the Lestari & Kulsum

partnership for ownership equity of Rp45,000,000. Prior to

the investment land was revalued to a market value of

Rp260,000,000 from a book value of Rp200,000,000. Lila

Lestari and Tami Kulsum share net income in a 1:2 ratio.

a. Provide the journal entry for the revaluation of land.

b. Provide the journal entry to admit Nadera.


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12-3

b. Cash 45,000,000

Budi Nadera, Capital 45,000,000

a. Land 60,000,000

Lila Lestari, Capital 20,000,000¹

Tami Kulsum, Capital 40,000,000² ¹Rp60,000,000 x l/3

²Rp60,000,000 x 2/3


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12-3

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On March 1, the partnership of Maryanti

Juwita and Heni Kurniasari admit Arif Dunia

as a new partner. The assets of the old

partnership are adjusted to current market

values and the resulting capital balances for

Juwita and Kurniasari are Rp20,000,000 and

Rp24,000,000 respectively.

12-3 Partner Bonuses


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Juwita and Kurniasari agree to admit

Dunia as a partner for Rp31,000,000.

In return, Dunia will receive a one-

third equity in the partnership and

will share income and losses equally

with Juwita and Kurniasari.

12-3


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Equity of Juwita Rp20,000,000

Equity of Kurniasari 24,000,000

Dunia’s Contribution 31,000,000

Total equity after admitting Dunia Rp75,000,000

Dunia’s interest (1/3 x $75,000) Rp25,000,000

Dunia’s contribution Rp31,000,000

Dunia’s equity after admission 25,000,000

Bonus paid to Juwita and Kurniasari Rp 6,000,000

12-3


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Mar. 1 Cash 31 000 000

Arif Dunia, Capital 25 000 000

Maryanti Juwita, Capital 3 000 000

Heni Kurniasari, Capital 3 000 000

The entry to record the admission of Dunia to

the partnership is as follows:

12-3

Rp6,000,000/2


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After adjusting the market values, the capital

balance of Juwita Cahyani is Rp80,000,000 and the

capital balance of Sri Darmawan is Rp40,000,000.

Elisa Chairunisa receives a one-fourth interest in

the partnership for a contribution of Rp30,000,000.

Before admitting Chairunisa, Cahyani and

Darmawan shared net income using a 2:1 ratio.

12-3 Adjusting for New Partner’s

Unique Qualities or Skills


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Equity of Cahyani Rp 80,000,000

Equity of Darmawan 40,000,000

Chairunisa’s Contribution 30,000,000

Total equity after admitting Chairunisa Rp150,000,000

Chairunisa’s equity interest after admission x 25%

Chairunisa’s equity after admission Rp 37,500,000

Chairunisa’s contribution 30,000,000

Bonus paid to Chairunisa Rp 7,500,000

The bonus is computed as follows:

12-3


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June 1 Cash 30 000 000

Juwita Cahyani, Capital 5 000 000

Sri Darmawan, Capital 2 500 000

Elisa Chairunisa, Capital 37 500 000

12-3

The entry to record the bonus and admission of

Chairunisa to the partnership is as follows:


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12-3


Chou to the partnership is as follows:

June 1 Cash 30 000 000




2/3

xRp7,500,00

0


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12-3


Chou to the partnership is as follows:

June 1 Cash 30 000 000




1/3 x

Rp7,500,000


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12-3 Withdrawal of a Partner

On June 1, the partnership of X, Y, and Z

have capital balances of Rp50,000,000,

Rp80,000,000, and Rp30,000,000,

respectively. Z decides to retire from the

partnership and sells his interest to Y for

Rp35,000,000.


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12-3

The following entry is required to record Z selling

his interest to Y.

June 1 Z, Capital 30 000 000

Y, Capital 30 000 000

Transfer ownership

from Z to Y.

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The amount paid to Y by Z has no impact on the

partnership’s accounting records.


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12-3

If Z had sold his interest

directly to the partnership, both

the assets and the owner’s

equity of the partnership would

have been reduced.


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12-3

Luki has a capital balance of Rp45,000,000 after

adjusting assets to fair market value. Cindy

contributes Rp26,000,000 to receive a 30% interest

in a new partnership with Luki.

Determine the amount and recipient of the partner

bonus.


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12-3

Equity of Luki Rp45,000,000

Cindy contribution 26,000,000

Total equity after admitting Cindy Rp71,000,000

Cindy’s equity interest x 30%

Cindy’s equity after admission Rp21,300,000

Cindy’s contribution Rp26,000,000

Cindy’s equity after admission 21,300,000

Bonus paid to Luki Rp 4,700,000


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Describe and illustrate

the accounting for

liquidating a

partnership.

Objective 4

12-4


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When a partnership goes out

of business, the winding-up

process is called the

liquidation of a partnership.

12-4 Liquidating Partnerships


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12-4 Liquidation Process

1. Sell the partnership assets. This step is called

realization.

2. Distribute any gains or losses from realization

to the partners based upon their income-

sharing ratio.

3. Pay the claims of creditors using the cash from

step 1 realization.

4. After satisfying the creditors, distribute the

remaining cash to the partners based on the

balances in their capital accounts.


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12-4


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Cash Rp11,000,000

Noncash Assets 64,000,000

Liabilities Rp 9,000,000

Juju Febriani, Capital 22,000,000

Bayu Gilang, Capital 22,000,000

Anggi Hasanah, Capital 22,000,000

Total Rp75,000,000 Rp75,000,000


Febriani, Gilang, and Hasanah share income and losses

in a ratio of 5:3:2. On April 9, after discontinuing

operations, the firm had the following trial balance.


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Between April 10 and April 30, 2006,

Febriani, Gilang, and Hasanah sell all

noncash assets for Rp72,000,000.

Thus, a gain of Rp8,000,000

(Rp72,000,000 – Rp64,000,000) is

realized.



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Balances before realization Rp11 000 000 Rp64 000 000 Rp9 000 000 Rp22 000 000 Rp22 000 000 Rp22 000 000

Sale of assets and division of gain +72 000 000 -64 000 000 0 4 000 000 2 400 000 1 600 000

Balances after realization Rp83 000 000 Rp 0 Rp9 000 000 Rp26 000 000 Rp24 400 000 Rp23 600 000

Payment of liabilities -9 000 000 0 -9 000 000 0 0 0

Balances after payment of liabilities Rp74 000 000 Rp 0 Rp 0 Rp26 000 000 Rp24 400 000 Rp23 600 000

Cash distributed to partners -74 000 000 0 0 -26 000 000 -24 400 000 -23 600 000

Final balances Rp 0 Rp 0 Rp 0 Rp 0 Rp 0 Rp 0

Cash +

Noncash

Assets = Liabilities +

Capital

Febriani

(50%) +

Gilang

(30%) +

Hasanah

(20%)

Febriani, Gilang and Hasanah

Statement of Partnership Liquidation

For Period April 10-30, 2008

Gain on Realization 12-4

Gain Rp8,000,000


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Cash 72 000 000

Noncash Assets 64 000 000

Gain on Realization 8 000 000

12-4

Step 1: Sale of assets

Entries to Record the Steps in the

Liquidation Process


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Gain on Realization 8 000 000

Juju Febriani, Capital 4 000 000

Bayu Gilang, Capital 2 400 000

Anggi Hasanah, Capital 1 600 000

12-4

Step 2: Division of gain


Liquidation Process


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Liabilities 9 000 00

Cash 9 000 00

12-4

Step 3: Payment of liabilities


Liquidation Process


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Cash 74 000 000

12-4

Step 4: Distribution of cash to partners


Liquidation Process


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Febriani, Gilang, and Hasanah

sell all noncash assets for

Rp44,000,000. A loss of

Rp20,000,000 (Rp64,000,000 –

Rp44,000,000) is realized.

12-4 Loss on Realization


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Cash 44 000 000

Loss on Realization 20 000 000


12-4



Liquidation Process


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Sale of assets and division of gain +44 000 000 -64 000 000 0 -10 000 000 -6 000 000 -4 000 000

Balances after realization Rp55 000 000 Rp 0 Rp9 000 000 Rp12 000 000 Rp16 000 000 Rp18 000 000


Balances after payment of liabilities Rp46 000 000 Rp 0 Rp 0 Rp12 000 000 Rp16 000 000 Rp18 000 000

Cash distributed to partners -46 000 000 0 0 -12 000 000 -16 000 000 -18 000 000





Liabilities +

Capital

Febriani

(50%) +

Gilang

(30%) +

Hasanah

(20%)Cash +

Noncash

Assets =

Loss on Realization 12-4

Rp20,000,000 Loss


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12-4

Step 2: Division of loss


Liquidation Process


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Cash 9 000 000

12-4



Liquidation Process


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Cash 46 000 000

12-4

Step 4: Distribution of cash to partners:


Liquidation Process


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12-4

Prior to liquidating their partnership, Toni and

Gendis had capital accounts of Rp50,000,000 and

Rp100,000,000, respectively. The partnership assets

were sold for Rp220,000,000. The partnership had

Rp20,000,000 of liabilities. Toni and Gendis share

income and losses equally. Determine the amount

received by Gendis as a final distribution from

liquidation of the partnership.


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12-4

Gendis’s equity prior to liquidation Rp100,000,000

Realization of asset sale Rp220,000,000

Book value of assets (Rp50,000,000 +

Rp100,000,000 + Rp20,000,000) 170,000,000

Gain on liquidation Rp50,000,000

Gendis’s share of gain (50% x

Rp50,000,000) 25,000,000

Gentry’s cash distribution Rp125,000,000


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12-4 Loss on Realization—Capital

Deficiency

Febriani, Gilang, and Hasanah sell all of the

noncash assets for Rp10,000,000. A loss of

Rp54,000,000 (Rp64,000,000 – Rp10,000,000)

is realized. The share of the loss allocated to

Febriani, Rp27,000,000 (50% of

Rp54,000,000), exceeds the Rp22,000,000

balance in her capital account. Febriani

contributes Rp5,000,000 to the partnership.


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Balances after realization Rp21 000 000 Rp 0 Rp9 000 000 Rp(5 000 000) Rp5 800 000 Rp11 200 000


Balances after payment of liabilities Rp12 000 000 Rp 0 Rp 0 Rp(5 000 000) Rp5 800 000 Rp11 200 000

Receipt of Deficiency 5 000 000 0 0 5 000 000 0 0

Balances Rp17 000 000 Rp 0 Rp 0 Rp 0 Rp5 800 000 Rp11 200 000

Cash distributed to partners -17 000 000 0 0 0 -5 800 000 -11 200 000





Liabilities +

Capital

Febriani

(50%) +

Gilang

(30%) +

Hasanah

(20%)Cash +

Noncash

Assets =

Loss on Realization—

Capital Deficiency

12-4

Febriani’s Contribution


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12-4

Cash 10 000 000





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Step: Payment of liabilities

12-4


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12-4


Cash 9 000 000


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12-4

Receipt of deficiency

Cash 5 000 000


Having the partner with a deficiency pay all or part of

the deficiency is not one of the four liquidation steps,

but it should make the other partners happy.


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Balances after realization Rp21 000 000 Rp 0 Rp9 000 000 Rp(5 000 000) Rp5 800 000 Rp11 200 000


Balances after payment of liabilities Rp12 000 000 Rp 0 Rp 0 Rp(5 000 000) Rp5 800 000 Rp11 200 000

Receipt of Deficiency 5 000 000 0 0 5 000 000 0 0

Balances Rp17 000 000 Rp 0 Rp 0 Rp 0 Rp5 800 000 Rp11 200 000

Cash distributed to partners -17 000 000 0 0 0 -5 800 000 -11 200 000





Liabilities +

Capital

Febriani

(50%) +

Gilang

(30%) +

Hasanah

(20%)Cash +

Noncash

Assets =

Loss on Realization—

Capital Deficiency

12-4

The remaining cash is distributed. Gilang receives

Rp5,800,000 and Hasanah receives Rp11,200,000.


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Cash 17 000 000

12-4

Distribution of cash to partners:


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12-4

Prior to liquidating their partnership, Sundari and

Baskoro had capital accounts of Rp20,000,000 and

Rp80,000,000, respectively. The partnership assets

were sold for Rp40,000,000. The partnership had

no liabilities. Sundari and Baskoro share income

and losses equally. a. Determine the amount of Sundari’s deficiency

b. Determine the amount distributed to Baskoro

assuming Sundari is unable to satisfy the

deficiency.


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For Practice: PE 12-6A, PE 12-6B


12-4

a. Sundari’s equity prior to liquidation Rp 20,000,000

Realization of asset sales Rp 40,000,000

Book value of assets 100,000,000

Loss on liquidation Rp 60,000,000

Sundari’s share of loss (50% x

Rp60,000,000) 30,000,000

Sundari’s deficiency Rp(10,000,000)

b. Rp40,000,000 Rp80,000,000 – Rp30,000,000 share

of loss – Rp10,000,000. Sundari’s

deficiency also equals the amount

realized from asset sales.


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Prepare the

statement of

partnership equity.

Objective 5

12-5


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12-5 Statement of Partnership Equity

The change in the owners’

capital accounts for a period of

time is reported in a statement

of partnership equity.


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Balance, January 1, 2008 Rp 245 000 000 Rp 365 000 000 Rp 610 000 000

Capital additions 50 000 000 000 000 50 000 000

Net income for the year 40 000 000 80 000 000 120 000 000

Less partner withdrawals (5 000 000) (45 000 000) (50 000 000)

Balance, December 31, 2008 Rp 330 000 000 Rp4 000 000 000 Rp 730 000 000

Chandra

capital

Investors Associates

Statement of Partnership Equity

For the Year Ended december 31, 2008Deny

Kiranti,

Capital

Total

Partnership

Capital

Statement of

Partnership Equity

12-5


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Financial Analysis and Interpretation

KAP Shaleh & Banu had the following information

for the last two years: 2008 2007

Revenues Rp220,000,000,000 Rp180,000,000,000

Number of employees 160 150

Revenue per

employee, 2008 = Rp220,000,000,000

160 = Rp137,500,000

Revenue per

employee, 2007 = Rp180,000,000,000

150 = Rp120,000,000

12-5


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Financial Analysis and Interpretation 12-5

The revenues per employee

showed improvement in 2008.

Thus, each employee is producing

more revenues in 2008, than in

2007, which may indicate

improved productivity. Overall, it

appears the firm is properly

managing the growth in staff.

Adeng Pustikaningsih, M.Si. Dosen Jurusan...

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