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Modul ke:

Manajemen Keuangan
Pengertian Laporan Keuangan, Pajak dan Arus Kas

Fakultas

EKONOMI &
BISNIS
P
Program
St
Studi
di

Manajemen

Hidayat Wiweko,S.E.,M.Si.

MODUL 2: Pengertian Laporan Keuangan, Pajak dan Arus Kas

Laporan Rugi/Laba (IncomeStatement)

SALES EXPENSES =PROFIT

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

Revenue

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

CostofGoodsSold

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

CostofGoodsSold
OperatingExpenses

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

CostofGoodsSold
OperatingExpenses
(marketing,administrative)

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

CostofGoodsSold
OperatingExpenses
(marketing,administrative)

FinancingCosts

IncomeStatement
SALES
EXPENSES
=PROFIT
PROFIT

CostofGoodsSold
OperatingExpenses
(marketing,administrative)

FinancingCosts
Taxes

SALES
IncomeStatement
CostofGoodsSold
C t f G d S ld
GROSSPROFIT
OperatingExpenses
OPERATINGINCOME(EBIT)
InterestExpense
EARNINGSBEFORETAXES(EBT)
IncomeTaxes
EARNINGS AFTER TAXES (EAT)
EARNINGSAFTERTAXES(EAT)
PreferredStockDividends
NETINCOMEAVAILABLE
NET INCOME AVAILABLE
TOCOMMONSTOCKHOLDERS

SALES
C t f G d S ld
CostofGoodsSold

IncomeStatement

GROSSPROFIT
OperatingExpenses
OPERATINGINCOME (EBIT)
InterestExpense
EARNINGSBEFORETAXES(EBT)
IncomeTaxes
EARNINGS AFTER TAXES (EAT)
EARNINGSAFTERTAXES(EAT)
PreferredStockDividends
NETINCOMEAVAILABLE
NET INCOME AVAILABLE
TOCOMMONSTOCKHOLDERS

SALES
IncomeStatement
CostofGoodsSold
C t f G d S ld
GROSSPROFIT
OperatingExpenses
OPERATINGINCOME(EBIT)
InterestExpense
EARNINGSBEFORETAXES(EBT)
IncomeTaxes
EARNINGS AFTER TAXES (EAT)
EARNINGSAFTERTAXES(EAT)
PreferredStockDividends
NETINCOMEAVAILABLE
NET INCOME AVAILABLE
TOCOMMONSTOCKHOLDERS

BalanceSheet

Total Assets =
TotalAssets

Outstandingg
Debt
+
Shareholders
Equity

BalanceSheet

BalanceSheet
Assets

BalanceSheet
Assets

Liabilities(Debt)&Equity
Liabilities (Debt) & Equity

BalanceSheet
Assets
CurrentAssets
Cash
MarketableSecurities
A
AccountsReceivable
t R i bl
Inventories
Prepaid Expenses
PrepaidExpenses

FixedAssets
Machinery&Equipment
Machinery
& Equipment
BuildingsandLand

OtherAssets
Investments&patents

Liabilities(Debt)&Equity
Liabilities (Debt) & Equity
CurrentLiabilities
AccountsPayable
Accounts
Payable
AccruedExpenses
Shorttermnotes

LongTermLiabilities
bl
Longtermnotes
Mortgages
g g

Equity
PreferredStock
Common Stock (Par value)
CommonStock(Parvalue)
PaidinCapital
RetainedEarnings

Assets
CurrentAssets:

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

FixedAssets:
Fixed Assets:

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

Fixed
FixedAssets:machinery
Assets: machinery
andequipment,buildings,
andland.

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

Fixed
FixedAssets:machineryandequipment,
Assets: machinery and equipment
buildings,andland.
OtherAssets:
Oh A

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

Fixed
FixedAssets:machineryandequipment,
Assets: machinery and equipment
buildings,andland.
OtherAssets:anyassetthatisnotacurrent
Oh A
h i
assetorfixedasset.

Assets
CurrentAssets:assetsthatarerelatively
liquid and are expected to be converted to
liquid,andareexpectedtobeconvertedto
cashwithinayear.
Cash,marketablesecurities,accountsreceivable,
Cash marketable securities accounts receivable
inventories,prepaidexpenses.

Fixed
FixedAssets:machineryandequipment,
Assets: machinery and equipment
buildings,andland.
OtherAssets:anyassetthatisnotacurrent
Oh A
h i
assetorfixedasset.
Intangibleassetssuchaspatentsandcopyrights.

Financing
DebtCapital:

Financing
DebtCapital:financingprovidedbya
creditor.
creditor

Financing
DebtCapital:financingprovidedbya
creditor.
creditor
Shorttermdebt:

Financing
DebtCapital:financingprovidedbya
creditor.
creditor
Shorttermdebt:borrowedmoneythatmust
be repaid ithin the ne t 12 months
berepaidwithinthenext12months.

Financing
DebtCapital:financingprovidedbya
creditor.
creditor
Shorttermdebt:borrowedmoneythatmust
be repaid ithin the ne t 12 months
berepaidwithinthenext12months.
Accountspayable,otherpayablessuchasinterest
or taxes payable accrued expenses short term
ortaxespayable,accruedexpenses,shortterm
notes.

Financing
DebtCapital:financingprovidedbya
creditor.
creditor
Shorttermdebt:borrowedmoneythatmust
be repaid ithin the ne t 12 months
berepaidwithinthenext12months.
Accountspayable,otherpayablessuchasinterest
or taxes payable accrued expenses short term
ortaxespayable,accruedexpenses,shortterm
notes.

Longtermdebt:
Long term debt:

Financing
DebtCapital:financingprovidedbya
creditor.
creditor
Shorttermdebt:borrowedmoneythatmust
be repaid ithin the ne t 12 months
berepaidwithinthenext12months.
Accountspayable,otherpayablessuchasinterest
or taxes payable accrued expenses short term
ortaxespayable,accruedexpenses,shortterm
notes.

Long
Longtermdebt:loansfrombanksorother
term debt: loans from banks or other
sourcesthatlendmoneyforlongerthan12
months.
months

Financing
EquityCapital:

Financing
EquityCapital:shareholdersinvestmentin
the firm
thefirm.

Financing
EquityCapital:shareholdersinvestmentin
the firm
thefirm.
PreferredStockholders:

Financing
EquityCapital:shareholdersinvestmentin
the firm
thefirm.
PreferredStockholders:receivefixed
di idends and ha e higher priorit than
dividends,andhavehigherprioritythan
commonstockholdersineventofliquidation
of the firm
ofthefirm.

Financing
EquityCapital:shareholdersinvestmentin
the firm
thefirm.
PreferredStockholders:receivedfixed
di idends and ha e higher priorit than
dividends,andhavehigherprioritythan
commonstockholdersineventofliquidation
of the firm
ofthefirm.
CommonStockholders:

Financing
EquityCapital:shareholdersinvestmentin
the firm
thefirm.
PreferredStockholders:receivedfixed
di idends and ha e higher priorit than
dividends,andhavehigherprioritythan
commonstockholdersineventofliquidation
of the firm
ofthefirm.
CommonStockholders:residualownersofa
business.Theyreceivewhateverisleftafter
creditorsandpreferredstockholdersarepaid.

CorporateIncomeTaxRates
Since1993
p
TaxableIncomeCorporateTaxRate
$1 $50,000 15%
$
$50,001
$
$75,000
25%
$75,001 $100,000 34%
$100,001 $335,000 39%
$335,001 $10,000,000 34%
$10,000,001 $15,000,000
35%
$15,000,001 $18,333,333
38%
over$18,333,333
35%

FreeCashFlows
Freecashflow: cashflowthatisfreeandavailable
tobedistributedtothefirmsinvestors(both
debtandequityinvestors)

FreeCashFlows
FirmsOperating
Freecashflows

Cashflowsgenerated
Cash
flows generated
throughthefirms
operationsand
investmentsinassets

FirmsFinancing
Freecashflows

Cashflowspaidto
Cash
flows paid to or
or
receivedby thefirms
investors(creditors&
stockholders)

CalculatingFreeCashFlows:
An Operating Perspective
AnOperatingPerspective
Aftertaxcashflow
After tax cash flow
fromoperations
less
investmentinnet
operatingworking
capital
less
investments in fixed
investmentsinfixed
andotherassets

CalculatingFreeCashFlows:
An Operating Perspective
AnOperatingPerspective
Aftertaxcashflow
After tax cash flow
fromoperations
l
less
investmentinnet
operatingworking
capital
less
investments in fixed
investmentsinfixed
andotherassets

Operatingincome
+depreciation
cashtaxpayments

CalculatingFreeCashFlows:
An Operating Perspective
AnOperatingPerspective
Aftertaxcashflow
After tax cash flow
fromoperations
l
less
investmentinnet
operatingworking
capital
less
investments in fixed
investmentsinfixed
andotherassets

[Change in current assets]


[Changeincurrentassets]
[changeinnoninterest
bearingcurrentliabilities]

CalculatingFreeCashFlows:
An Operating Perspective
AnOperatingPerspective
Aftertaxcashflow
After tax cash flow
fromoperations
less
investmentinnet
operatingworking
capital
less
investments in fixed
investmentsinfixed
andotherassets

Changeingross fixed
assets,andanyother
assetsthatareonthe
balance sheet
balancesheet.

CalculatingFreeCashFlows:
AFinancingPerspective
Interestpaymentstocreditors
changeindebtprincipal

di id d
dividendspaidtostockholders
id t t kh ld

change in stock
changeinstock

=FinancingFreeCashFlows
g

TaxExample:

SSpaceCowComputerhassalesof$32
C
C
t h
l
f $32
million,costofgoodssoldat60% of
sales,cashoperatingexpensesof$2.4
,
indepreciation
p
million,and$1.4million
expense.Thefirmhas$12million in
9.5% bondsoutstanding.Thefirmwill
bonds outstanding. The firm will
pay$500,000 individendstoitscommon
stock holders
stockholders.
Calculatethefirmstaxliability.

Sales
Cost of Goods Sold
CostofGoodsSold
OperatingExpenses
DepreciationExpense
EBIT or NOI
EBITorNOI
InterestExpense
TaxableIncome

$32,000,000
(19 200 000)
(19,200,000)
(2,400,000)
(1,400,000)
9 000 000
9,000,000
(1,140,000)
7,860,000

Income
taxrate
taxpayment
$50,000x.15=$7,500
$25 000 x 25
$25,000x.25=6,250
=
6 250
$25,000x.34=8,500
$235,000x.39=
91,650
$7 525 000 x 34
$7,525,000x.34=2,558,500
2 558 500
TotalTaxpayment$2,672,400
shortcut:
h t t $7,860,000x.34=$2,672,400
$7 860 000 34 $2 672 400

Terima Kasih
Hidayat Wiweko,S.E.,M.Si.

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