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TUGAS

UJIAN AKHIR SEMESTER


AKUNTANSI MANAJEMEN LANJUTAN

Oleh:
MONICA ROSA LINA
01044881719007

Dosen Pengajar :
Emylia Yuniarti, S.E.,M.Si.,Ak.,CA

PROGRAM PENDIDIKAN PROFESI AKUNTANSI


UNIVERSITAS SRIWIJAYA
PALEMBANG
2017
1. Renbud Computer Services Co. (RCS) specializes in customized software development for
the broadcast and telecommunications industries. The company was started by three people
to develop software primarily for a national network to be used in broadcasting national
election results. After sustained and manageable growth for many years. The company has
grown very fast over the last three years, doubling in size.

This growth has placed the company in a challenging financial position. Within thirty days,
RCS will need to renew its $300,000 loan with the Third State Bank of San Marcos. This
loan is classified as a current liability on RCS's balance sheet. Harvey Renbud, president of
RCS, is concerned about renewing the loan. The bank has requested RCS's most recent
financial statements which appear below, including balance sheets for this year and last year.
The bank has also requested four ratios relating to operating performance and liquidity.

Renbud Computer Services Co.


Income Statement
For the Year Ended December 31
(in thousands)
Sales $2,500
Expenses:
Cost of services provided $l,500
Selling and administrative 300
Depreciation and amortization 200
Interest 60
Income taxes 150
Total expenses 2,210
Net income $ 290

Renbud Computer Services Co.


Balance Sheets
December 31
(in thousands)
This
Last Year
Year
Assets
Cash $ 50 $ 50
Accounts receivable, net 350 250
Other current assets 70 160
Equipment, net 1,100 800
Furniture and fixtures. net 120 100
Other noncurrent assets 240 200
Total assets $1,930 $1,560

Liabilities and stockholders’ equity


Accounts payable $ 150 $ 130
Taxes payable 140 120
Note payable (Third State Bank) 300 200
Bonds payable (due in seven years) 400 400
Total liabilities 990 850
Capital stock (1,000 shares) 100 100
Retained earnings 840 610
Total stockholders’ equity 940 710
Total liabilities and stockholders’ equity $1,930 $1,560

Required:
a. Explain why the Third State Bank of San Marcos would be interested in reviewing
Renbud Computer Services Co.'s comparative financial statements and its financial
ratios before renewing the loan.
b. Calculate the following financial ratios for Renbud Computer Services Co.:
1. The current ratio for both this year and last year.
2. Accounts receivable turnover for this year.
3. Return on common stockholders equity for this year.
4. The debt-to-equity ratio for both this year and last year.
c. Discuss briefly the limitations and difficulties that can be encountered in using ratio
analysis.

Answer
a. Jelaskan mengapa Bank Negara Bagian Ketiga San Marcos tertarik untuk meninjau
ulang laporan keuangan komparatif Renbud Computer Services Co. dan rasio
keuangannya sebelum memperbarui pinjaman?
Jawab:
Bank Negara Ketiga akan tertarik pada laporan keuangan komparatif sehingga
bisa menganalisis tren data dan hasil operasi. Tren penting karena akan mengarah pada
perubahan mendasar dalam sifat bisnis. Analisis rasio akan memberi beberapa indikasi
solvabilitas jangka pendek perusahaan dan membantu Bank Negara Ketiga menilai
tingkat risiko yang terlibat dalam pinjaman tersebut. Rasio juga akan berguna dalam
menganalisis bagaimana RCS berkinerja dibandingkan dengan rata-rata industri, dan
dengan demikian menjadi patokan untuk perbandingan dengan perusahaan lain. Rasio
tersebut mengurangi jumlah dolar absolut ke data yang lebih bermakna agar bank dapat
membandingkan rasio dengan periode sebelumnya, perusahaan lain, dan industri. Rasio
dapat digunakan untuk menunjukkan seberapa baik perusahaan dikelola dan untuk
menyoroti area untuk penyelidikan lebih lanjut. Jika rasio tidak terlihat menguntungkan
dibandingkan dengan masa lalu perusahaan dan perusahaan lain di industrinya, bank
mungkin mempertimbangkan untuk menyesuaikan tingkat dolar dan / atau tingkat
bunga dari catatan atau bahkan mungkin memutuskan untuk tidak memperpanjang
catatan.

b. Perhitungan rasio keuangan yang dipilih di sajikan dibawah ini:


1. Rasio Lancar
Tahun ini Tahun lalu
Current $50 + $350 Current $50 + $250
$470 $460
assets + $70 assets + $160
Current $150 + $140 Current $130 + $120
$590 $450
liabilities + $300 liabilities + $200
Current $470 / $590 Current $460 / $450
0.80 1.02
ratio ratio

2. Perputaran Piutang Dagang


Penjualan = $2,500
Piutang Rata-Rata = ($350 $250)/2 = $300
Accounts

3. Pengembalian pada pemegang saham biasa

4. Rasio hutang terhadap ekuitas untuk tahun ini dan tahun lalu.

c. Diskusikan secara singkat keterbatasan dan kesulitan yang bisa ditemui dalam
menggunakan analisis rasio.

2. (Ignore income taxes in this problem.) The management of an amusement park is


considering purchasing a new ride for $40,000 that would have a useful life of 10 years and
a salvage value of $4,000. The ride would require annual operating costs of $19,000
throughout its useful life. The company's discount rate is 8%. Management is unsure about
how much additional ticket revenue the new ride would generate-particularly because
customers pay a flat fee when they enter the park that entitles them to unlimited rides.
Hopefully, the presence of the ride would attract new customers.
Required:
How much additional revenue would the ride have to generate per year to make it an
attractive investment?
Answer:

Arus kas minimum tahunan yang dibutuhkan = Nilai neto negatif yang akan diimbangi ÷
Faktor nilai sekarang
=$ 165,638 ÷ 6,710
= $ 24,685
Pendapatan tambahan ini akan menghasilkan nilai bersih bersih nol. Kurang dari ini dan
nilai sekarang bersih akan negatif. Lebih dari ini dan nilai sekarang bersih akan positif.

3. (Ignore income taxes in this problem.) Alesi Company is considering purchasing a machine
that would cost $243,600 and have a useful life of 8 years. The machine would reduce cash
operating costs by $76,125 per year. The machine would have a salvage value of $60,900 at
the end of the project.
Required:
a. Compute the payback period for the machine.
b. Compute the simple rate of return for the machine.
Answer:
a. Payback period dihitung sebagai berikut:
Payback period = Investasi yang dibutuhkan ÷ Arus kas bersih tahunan
= $243,600 ÷ $76,125
= 3.20 tahun
Dalam hal ini, nilai sisa tidak memainkan bagian dalam periode pengembalian modal
karena semua investasi dipulihkan sebelum proyek berakhir.

b. Tingkat pengembalian sederhana dihitung sebagai berikut:


Biaya mesin, setelah dikurangi nilai sisa (a) . ............ $182,700
Useful life (b) ….. ....................................................... 8 years
Depresiasi tahunan (a) ÷ (b) …….............................. $22,838
Tingkat pengembalian sederhana = (Penghematan biaya tahunan – Depresiasi tahunan)
÷ Investasi awal
= $(76,125 - $22,838) ÷ $243,600
= 21.88%

4. Rucci Inc. is considering a project that would require an initial investment of $462,000 and
would have a useful life of 7 years. The annual cash receipts would be $300,000 and the
annual cash expenses would be $120,000. The salvage value of the assets used in the project
would be $69,000. The company's tax rate is 30%. For tax purposes, the entire initial
investment without any reduction for salvage value will be depreciated over 5 years. The
company uses a discount rate of 18%.
Required:
Compute the Net Present Value for this project?
Answer:
Sebelum kita menemukan Net Present Value untuk proyek ini, kita perlu menemukan arus
kas tahun buku sebagai berikut
Nilai Penyelamat aset 69,000
Pajak atas nilai penyelamatan (30%) 20,700
Jumlah sarus Kas Penghentian 48,300

Garis waktu arus kas bersih sama dengan:


Tahun 0 ($462,000)
1 154,000
2 154,000
3 154,000
4 154,000
5 154,000
6 154,000
7 154,000 + 48,300 = 202,300

Untuk Menemukan NPV, kita harus menemukan nilai sekarang dari setiap arus kas,
termasuk aliran masuk dan arus keluar, yang didiskontokan pada tingkat diskonto
proyek
NPV = Jumlah dari CFt Diketahui CF = Arus Kas
(1 + k)t k = Tingkat Diskonto
t = Periode

NPV = -462,000 + 154,000 + 154,000 + 154,000 + 154,000 + 154,000 + 154,000 + 202,300


(1.18)1 (1.18)2 (1.18)3 (1.18)4 (1.18)5 (1.18)6 (1.18)7
= -462,000 + 602,132.37
= 140,132.37