Chapter 1 alk
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STIE Husnayain
Apa itu Analisis Laporan
“Evaluation of a firm's financialstatements in order to assess thefirm's worth and its ability to meetits financial obligations”
Laporan Keuangan? “an assessment of the viability, stability
and profitability of a business, sub-business or project”
Evaluate Prospects
Evaluate Risks
Business AnalysisBusiness AnalysisBusiness AnalysisBusiness Analysis
Business Decision Makers
Equity investorsEquity investors
Creditors
Managers
Merger and Acquisition Analysts
External Auditors
Directors
Regulators
Employees & Unions
Lawyers
Industry Statistics
Financial Statements
Quantitative
Chairperson’s Letter
Management discussion & Analysis
Qualitative
Information Sources
Trade reports
Regulatory filings
Economic Indicators
Web sites
Vision/Mission Statement
Financial press
Press Releases
Kapandigunakan?
1• Pemilik Dana
digunakan?2
• Intermediaries
3• Pihak yang membutuhkan
Types of BusinessTypes of Business
Credit Analysis Equity Analysis
Management & Control
Director Oversight
Labor Negotiations
Types of Business
Credit Analysis Equity Analysis
Management & Control
Director Oversight
Labor Negotiations
BusinessAnalysisBusinessAnalysis
Mergers, Acquisitions& Divestitures
Director OversightRegulation
External AuditingFinancial Management
BusinessAnalysis
Mergers, Acquisitions& Divestitures
Director OversightRegulation
External AuditingFinancial Management
Credit AnalysisCredit AnalysisCredit AnalysisCredit Analysis
Trade Creditors
Non-trade CreditorsCreditors
Provide goods or services
Most short-term
Usually implicit interest
Bear risk of default
Creditors
Provide major
financing
Most long-term
Usually explicit interest
Bear risk of default
Credit AnalysisCredit AnalysisCredit AnalysisCredit Analysis
Liquidity
Ability to meet short -Solvency
Ability to meet long -
Credit worthiness: Ability to honor credit obligati ons(downside risk)
Ability to meet short -term obligations
Focus: � Current cash flows� Make up of current
assets and liabilities� Liquidity of assets
Ability to meet long -term obligations
Focus:� Long-term profitability� Capital structure
Equity AnalysisEquity AnalysisEquity AnalysisEquity Analysis
Technical analysis / Charting
Fundamental AnalysisDetermine Intrinsic value
Assessment of downside risk and upside potential
Charting�Patterns in price or
volume history of a stock
�Predict future price movements
Determine Intrinsic value without reference to price
�Analyze and interpret key factors
� Economy
� Industry
� Company
BusinessEnvironment &
Strategy Analysis
IndustryAnalysis
StrategyAnalysis
ProspectiveAnalysis
AccountingAnalysis
FinancialAnalysis
Analysisof cash
flowsProfitability
Analysis
RiskAnalysis
Cost of Capital Estimate Intrinsic Value
Accounting AnalysisAccounting AnalysisAccounting AnalysisAccounting Analysis
Process to evaluate and adjust financial statements to better reflect economic reality
Process to evaluate and adjust financial statements to better reflect economic reality
Comparability problems — across firms and across tim e
Manager estimation error
Distortion problems Earnings management
Accounting Standards
Comparability problems — across firms and across tim e
Manager estimation error
Distortion problems Earnings management
Accounting Standards
Comparability problems — across firms and across tim e
Manager estimation error
Distortion problems Earnings management
Accounting Standards
AccountingRisk
AccountingRisk
Financial AnalysisFinancial AnalysisFinancial AnalysisFinancial Analysis
Profitability analysis — Evaluate return Profitability analysis — Evaluate return
Process to evaluate financial position and performance using financial statements
Process to evaluate financial position and performance using financial statements
Profitability analysis — Evaluate return on investments
Risk analysis ——— Evaluate riskiness & creditworthiness
Analysis of — Evaluate source & cash flows deployment of funds
Profitability analysis — Evaluate return on investments
Risk analysis ——— Evaluate riskiness & creditworthiness
Analysis of — Evaluate source & cash flows deployment of funds
Common toolsCommon tools
Ratioanalysis
Ratioanalysis
Cash flow
analysis
Cash flow
analysis
Prospective AnalysisProspective AnalysisProspective AnalysisProspective Analysis
Business Environment& Strategy Analysis
Process to forecast future payoffs
Intrinsic Value
Accounting Analysis
Financial Analysis
Dynamics of Business ActivitiesDynamics of Business ActivitiesDynamics of Business ActivitiesDynamics of Business Activities
Beginning of periodBeginning of periodBeginning of period
Business Activities Time
InvestingInvesting FinancingFinancingPlanningPlanning
Investing FinancingPlanning
End of periodEnd of periodEnd of period
OperatingOperating
PlanningPlanning
PlanningPlanningFinancingFinancingInvestingInvesting
Operating
Planning
PlanningFinancingInvesting
Business ActivitiesBusiness ActivitiesBusiness ActivitiesBusiness Activities
Planning Planning
CompetitionCompetition PricingPricing
Market demandsMarket demands TacticsTacticsPlanning
Competition Pricing
Market demands TacticsPlanning Activities:
Goals& Objectives
Planning Activities:
Goals& Objectives
PromotionPromotion
Managerial performanceManagerial performance
OpportunitiesOpportunities
ProjectionsProjections
DistributionDistribution
ObstaclesObstacles
Planning Activities:
Goals& Objectives
Promotion
Managerial performance
Opportunities
Projections
Distribution
Obstacles
PlanningActivitiesPlanningActivitiesInvesting
ActivitiesInvestingActivities
FinancialActivitiesFinancialActivities
PlanningActivitiesInvesting
ActivitiesFinancialActivities
Business ActivitiesBusiness ActivitiesBusiness ActivitiesBusiness Activities
Operating ActivitiesRevenues and expenses from providing
goods and services
Financial Statements Reflect Business ActivitiesFinancial Statements Reflect Business ActivitiesFinancial Statements Reflect Business ActivitiesFinancial Statements Reflect Business Activities
PlanningPlanningInvesting
Current:• Cash• Accounts Receivable• Inventories• Marketable Securities
InvestingCurrent:• Cash• Accounts Receivable• Inventories• Marketable Securities
FinancingCurrent:• Notes Payable• Accounts Payable• Salaries Payable• Income Tax PayableNoncurrent:
FinancingCurrent:• Notes Payable• Accounts Payable• Salaries Payable• Income Tax PayableNoncurrent:
Operating
• Sales• Cost of Goods Sold• Selling Expense• Administrative Expense
Operating
• Sales• Cost of Goods Sold• Selling Expense• Administrative Expense
PlanningInvesting
Current:• Cash• Accounts Receivable• Inventories• Marketable Securities
FinancingCurrent:• Notes Payable• Accounts Payable• Salaries Payable• Income Tax PayableNoncurrent:
Operating
• Sales• Cost of Goods Sold• Selling Expense• Administrative Expense• Marketable Securities
Noncurrent:• Land, Buildings, &
Equipment• Patents• Investments
• Marketable SecuritiesNoncurrent:• Land, Buildings, &
Equipment• Patents• Investments
AssetsAssets
Balance SheetBalance Sheet
Noncurrent:• Bonds Payable• Common Stock• Retained Earnings
Noncurrent:• Bonds Payable• Common Stock• Retained Earnings
Liabilities & EquityLiabilities & Equity
Balance SheetBalance Sheet
Statement of Shareholders ’ Equity
Statement of Shareholders ’ Equity
• Administrative Expense• Interest Expense• Income Tax Expense
• Administrative Expense• Interest Expense• Income Tax Expense
Net IncomeNet Income
Income statementIncome statement
Cash FlowCash Flow
Statement of Cash FlowsStatement of Cash Flows
• Marketable SecuritiesNoncurrent:• Land, Buildings, &
Equipment• Patents• Investments
Assets
Balance Sheet
Noncurrent:• Bonds Payable• Common Stock• Retained Earnings
Liabilities & Equity
Balance Sheet
Statement of Shareholders ’ Equity
• Administrative Expense• Interest Expense• Income Tax Expense
Net Income
Income statement
Cash Flow
Statement of Cash Flows
Apa Bedanya dengan ALK Konvensional ?Konvensional ?
Tipe Rasio
Leverage Liquidity Operating Profitability
Neraca; Laporan Laba Rugi;
Laporan Arus Kas;
Laporan Perubahan Laporan Arus
Kas; Perubahan Ekuitas;
Laporan Sumber dan Penggunaan Dana Zakat;
Laporan Sumber dan Penggunaan
Dana Kebajikan;