Financial Statement

Analysis
GROUP 4

Hardiana Hufain (1606824111)

Khairani (1606877805)
Lara Areda Paparia (1606877446)
Mentari Andini (1606877313)
Paridatul Mahmudah (1606832044)
Ziana Walidah (1606824206)
 ● Independent Auditor’s Report
● Comparative Financial
Statements
● Functional Expense Ratios and

Outline ●
Other Analysis
Budget Consideration
● Relation of the budget to the
financial statements
● Methods of budgetary control
 ➔ Donors
➔ Grantors and other contractors
Pengguna Laporan ➔ Lenders

Keuangan Organisasi ➔ Vendors and other service

providers
Nirlaba ➔ Employees
➔ Government regulators
 Independent
Auditor’s Report
Contoh adalah dari laporan
keuangan Harvard
 - Apakah laporan keuangan telah
disajikan secara wajar dan
Highlight sesuai dengan standar yang

Independent
berlaku
- Apakah auditor juga telah

Auditor’s Report
melakukan prosedur audit
sesuai dengan standar yang
berlaku
 ➔ Compilation

Jenis perikatan yang sangat terbatas di mana seorang

akuntan pada dasarnya mengambil informasi dari catatan
The modifications to keuangan organisasi nirlaba dan menyiapkan laporan
keuangan dari catatan-catatan itu

the types of ➔ Review

procedures Jenis perikatan terbatas di mana akuntan bekerja lebih

sedikit daripada dalam audit sesuai dengan GAAS, namun

performed and the melakukan penyelidikan tertentu dan analisis laporan

keuangan untuk memberikan bentuk jaminan yang sangat

level of assurance
terbatas pada laporan keuangan

➔ Audit in accordance with Government Auditing

provided by Auditor Standards (GAS)

Independent: Auditor melakukan audit sesuai dengan persyaratan Audit

Tunggal serta GAS. Auditor juga menerbitkan laporan
tentang pengendalian internal dan kepatuhan terhadap
hukum dan peraturan yang berkaitan dengan audit atas
laporan keuangan.
 ➔ Compare the current year
amounts with the prior year
amounts
Comparative ➔ Look for the significant
differences in amount and find
Financial the reasons
➔
Statements
Look for the amounts that did
not exist in the prior year but do
exist in the current year and
conversely
Two “Buzzwords” in reading and
understanding a Financial Statement
Horizontal Analysis
Horizontal analysis looks at amounts from the
financial statements over a horizon of many
years. Horizontal analysis is also referred to as
trend analysis. The amounts from past financial
statements will be restated to be a percentage
of the amounts from a base year.
Vertical Analysis
Vertical analysis expresses each amount on a
financial statement as a percentage of another
amount.
● The vertical analysis of a balance sheet
results in every balance sheet amount
being restated as a percent of total assets.
● The vertical analysis of an income
statement results in every income
statement amount being restated as a
percent of net sales.
 Functional
Expense Ratio
and Other
Analysis
Functional Expense Ratio

Ratio of Program Expense to Total Expense Ratio of Management and General Expenses
to Total Expenses

● Dividing an organization’s program ● Dividing the total management and

expenses by its total expenses general expenses by total expenses
● provides an indication of how much of an
● results in a percentage that indicates
organization’s total operations are spent
how much of every dollar spent by an
on the programs for which it exists.
organization is spent on administrative
● The higher the percentage is better.
activities.
Ratio of Fund-Raising Expenses to Total
Expenses
● Dividing fund-raising expenses by total
expenses results in a percentage that
indicates how much of each dollar spent
by the not for- profit organization is spent
to raise money.
● Nevertheless, fund-raising is an important
function of not-for-profit organizations
Ratio of Contribution Revenues to Fund-Raising
Expenses
● To compute this ratio, take the
contributions revenue reported by the
not-for-profit organization in the statement
of activities and divide that amount by the
fund-raising expenses for the same period.
● This performance indicator measures how
much money is raised for each dollar
spent on fund-raising. Obviously, the
higher the ratio, the better.
The Efficiency of Fund Raising Program

1. Some contribution revenue may be the 2. Some current fund-raising efforts may result
result of fund-raising efforts of prior in expenses in the current period with the
years. benefit not occurring until future years.

for example, if a donor agreed five years ago to 3. Different types of fund-raising activities are
contribute $1 million a year for the next ten expected to have different returns.
years. Assume that the donor attached some
conditions to this contribution revenue (with a
related receivable) in the year that the promise
to give was made. In this example, the current
year would have virtually no fund-raising costs
related to this contribution, but would have the
benefit of the $1 million on contribution revenue.
Reading a Not-for-Profit Organization’s
Bottom Line
● Ketika organisasi nirlaba berupaya
meningkatkan posisi keuangannya secara
● Organisasi Nirlaba didukung untuk konsisten (peningkatan aset bersih tiap
membelanjakan sumber dayanya untuk tahun) maka :
berbagai kegiatan dan layanan penting 1. Para donatur berkontribusi kepada
yang mendukung kegiatan organisasi organisasi nirlaba bukan dengan tujuan
tersebut, bukan untuk mendapatkan agar organisasi tersebut menyimpan uang
keuntungan. dari mereka, tetapi untuk
● Berupaya untuk menyeimbangkan antara membelanjakannya sesuai dengan alasan
pengeluaran dan pendapatan yang keberadaan organisasi nirlaba tersebut.
diperoleh. 2. Tidak sedikit pendonor yang kadang
curiga terhadap organisasi yang
keuangannya tidak stabil.
 Reliance on a Limited Number of Revenue
Sources
Contributions from donors
•Persentase kontribusi yang tinggi
berasal dari satu atau dua donor
tertentu
•Persaingan dengan organisasi
nirlaba baru yang menargetkan
kelompok donatur potensial yang
serupa
Fee-for-service activities
•Adanya satu atau dua kontrak besar
untuk layanan yang terhitung masuk
dalam persentase besar dari total
biaya layanan pendapatan
•Persaingan dari organisasi serupa
dalam hal fee-for-service activities
•Menurunnya pendaftaran pasien
rawat inap di rumah sakit
menyebabkan penurunan yang stabil
dalam sumber pendapatan yang
utama
Grants or contracts from
governmental agencies and
others
•Ketergantungan hibah dari
kontrak satu atau dua yayasan
pribadi
•Ketergantungan dari hibah
pemerintah dari satu atau dua
sumber seperti dari
pemerintah lokal atau negara
bagian
•Ketergantungan hibah dari
alokasi tahunan pemerintah
Renewable Revenue Sources
● Kontribusi kecil, berasal dari berbagai
sumber dan memiliki berbagai jenis
donor
● Organisasi nirlaba yang mensponsori
klub sepakbola lokal untuk anak-anak
tetangga menggunakan berbagai
metode untuk mengumpulkan dana
seperti menempatkan kotak amal di
toko-toko ritel, meminta sumbangan
dari pintu ke pintu, dan lain sebagainya.
● Kontribusi besar namun sangat
bergantung pada sumber dana tersebut
● Organisasi nirlaba yang berorientasi pada
penelitian memperoleh 90% dari
pendapatannya dari hibah pemerintah
untuk melakukan penelitian yang spesifik.
Setiap tiga tahun, untuk memperoleh hibah
ini organisasi nirlaba harus bersaing
dengan lima organisasi serupa lainnya.
Apabila tidak mendapatkan pembaruan
hibah maka akan mengganggu kesehatan
keuangan organisasi nirlaba tersebut.
Liquidity & Other Financial Indicators
Indicate whether or not the organization is financially healthy

Working Capital Current Ratio

excess of its current assets over its current dividing the current assets by the current
liabilities liabilities

The amount of working capital is an indication It indicates, in terms that are relative to the size
of how much of short-term financial resources of the current assets and liabilities, how many
will be left over if all of the organization’s times over the not-for-profit organization can
short-term financial obligations are paid off pay its current liabilities with its current assets.
Liquidity & Other Financial Indicators
Indicate whether or not the organization is financially healthy
Quick Ratio
This is calculated the same way as the current
ratio, except that, instead of current assets, only
those current assets most readily convertible to
cash are included
e.g. : cash and cash equivalents, short-term
investments, and receivables.
Debt Ratio
Divides the amount of debt outstanding by total
assets.
For a not-for-profit organization, unrestricted
assets may be a more appropriate measure,
since it is not likely that temporarily or
permanently restricted assets are available to
pay for debt service
It indicates of how much of a not-for-profit
organization’s assets are financed by the
issuance of debt
Liquidity & Other Financial Indicators
Indicate whether or not the organization is financially healthy
Receivable turnover
Revenue (either fee-for-service or contribution)
is divided by the average outstanding balance of
receivables
average receivable balance : adding the
beginning of the year and end of the year
balances and then dividing by two
It indicates of the amount of time that it takes to
turn receivables into cash. A high average age
of receivables might indicate that they are not
being collected fast enough
Inventory turnover
Dividing the cost of goods sold (reported on the
statement of activities and representing the cost
of the inventory sold during the year) by the
average inventory balance.
average inventory balance : adding the
beginning of the year inventory balance with the
end of the year balance and then dividing by
two.
It indicates of how long it takes to sell an item of
inventory
 The reasons why budgeting is so
important to not-for-profit
organizations :
Budget ➔ Budget is a blueprint of how it

Consideration in expects to use its limited

resources.
Financial ➔ if a not-for-profit misses its
budgeted projections by a large
Analysis amount, it could be in a serious
financial difficulties.
Continuation

❏ Not-for-Profit Organization usually plan to break even each year

❏ For many times, not-for-profit organization do not have large accumulated
financial cushions to soften the impact of budget overruns.
 Accounting acts as a
supplier of data to prepare the
Budget, and at the same time

Relation of The acts as a benchmark for

evaluating the implementation
Budget to The of the Budget, the recording
Financial Analysis and all systematics used in
Accounting must be in line with
the recording and systematic
techniques in the Budget.
 Methods of Budgetary Control
Some of these basic principles to budgetary control:

★ The annual budget presents too long of a time span to provide effective
control
★ Both revenues and expenses should be budgeted
★ Periodic comparisons of budget to actual results must be made promptly
and differences must be acted on where warranted
★ Overly optimistic revenue and expense projections should be avoided
★ A reasonable process to allow the not-for-profit organization to modify its
budget should be in place.
 Conclusion

1 2 3
Can be read with enough Understanding how Helps the reader understand
knowledge and really understand the budget is used as a how budgeted financial amounts
the financial operations and means of financial drive the financial results of
financial position of the management not-for-profit organizations that are
organization ultimately reported in their financial
statements.
 Referensi

1. Not-for-profit Accounting Made Easy. Warren Ruppel, 2007 (WR)

2. https://www.accountingcoach.com/blog/vertical-analysis-horizontal-analysis
3. https://finance.harvard.edu/files/fad/files/harvard_annual_report_2018_final.
pdf
Pertanyaan

1. Indah : Rasio apa yang paling efektif digunakan ?

2. Rosario : Yayasan bisa menginvestasikan asetnya gak ?
3. Reftnius : Bank kalau ngasih pinjaman, yang dilihat rasio apa ?
4. Kania : Bagaimana donatur bisa tau kalau dananya sudah digunakan secara
efektif ?
5. Renaldi : Asumsi apa yang dipake sama organisasi untuk membuat
anggaran ?