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ANALISIS ASPEK KEUANGAN

ANALISIS ASPEK KEUANGAN

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Published by Aldylan Jentrunk

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Categories:Types, Business/Law
Published by: Aldylan Jentrunk on Mar 11, 2012
Copyright:Attribution Non-commercial

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03/26/2012

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ANALISIS ASPEK KEUANGAN
1.Sumber Dana
Hutang & Modal sendiri2.Hutang
Skedul angsuran
perjanjian3.Biaya Modal
Opportunity cost
WACC4.Laporan Keuangan:a. Cash Flow
Aliran Kasb. Rugi/Laba
Kinerja
Rasioc. Neraca5. Penilaian Investasi: NPV, IRR, MIRR, PP, PI, ARR
 
SUMBER DANA
1.MODAL SENDIRI
Opportunity cost
SBI, Deposito2.MODAL ASING
hutang
bunga
risiko3.BIAYA MODAL
WACC
proporsi danaWACC: (Wd X kd) + (We X ke)kd : i (1-t)
tax shieldContoh: Modal
hutang 100 jt, bunga 10%, dan modalsendiri 300 juta. Pajak perusahaan 30%, SBI 8%kd = 10% (1-30%) = 7%WACC = 100/400 (7%) + 300/400 (8%)= 7/4% + 24//4% = 7,75%
CoC
Perhitungan NPV
sebagai i (tk diskonto/bunga)
Cut off pada IRR
 
SKEDUL PEMBAYARAN HUTANG
Asumsi: a. Bunga pinjaman 10%, dibayar awal th ke 2b. Angsuran mulai tahun ke 2c. Angsuran 5 kali/tahun, tiap awal tahun
100/5d. Jumlah pinjaman 100 juta, awal th 1
KET TH 1 TH2 TH3 TH4
HUTANG(a)
Neraca100 100 80 60BUNGA(b)
10% X (a)
R/L,CF0 10 8 6ANGSURAN(c)
CF0 20 20 20PEMBAYARAN(b) + (c)0 30 28 26SISA HUTANG(a) - (c)
Neraca100 80 60 40

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