CONTOH PROGRAM

TABEL INPUT ASUMSIBerikut ini merupakan tabel yang disediakan pada program ini untuk asumsi membangun suatu Usaha Dagang. Asumsi adalah cell berwarna kuning dengan tulisan (font) merah.

Nilai NilaiPerolehan Setelah Kenaikan

1 Tanah 0 02 Bangunan 0 03 Kendaraan 450,000,000 495,000,0004 Peralatan Toko/Warung 75,000,000 82,500,0005 Peralatan kantor 25,000,000 27,500,0006 Furniture 25,000,000 27,500,000

Total 575,000,000 632,500,000

Antisipasi kenaikan investasi 10.00%Tahun mulai beroperasi 2015Asumsi pajak 30%

Harta TetapNo.

1 2 3 4 5 6 7 8 9 10 11 12Tanah Cek lagi Boss! 0.00%Bangunan Cek lagi Boss! 0.00%Kendaraan OK 100.00% 100.00%Peralatan Toko/Warung OK 100.00% 50.00% 50.00%Peralatan kantor OK 100.00% 75.00% 25.00%Furniture OK 100.00% 100.00%

HARTA TETAP % Total 1 2 3 4 5 6 7 8 9 10 11 12Tanah 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0Bangunan 0.0% 0 0 0 0 0 0 0 0 0 0 0 0 0Kendaraan 78.3% 495,000,000 0 495,000,000 0 0 0 0 0 0 0 0 0 0Peralatan Toko/Warung 13.0% 82,500,000 41,250,000 41,250,000 0 0 0 0 0 0 0 0 0 0Peralatan kantor 4.3% 27,500,000 20,625,000 6,875,000 0 0 0 0 0 0 0 0 0 0Furniture 4.3% 27,500,000 27,500,000 0 0 0 0 0 0 0 0 0 0 0Total 100.0% 632,500,000 89,375,000 543,125,000 0 0 0 0 0 0 0 0 0 0

TotalKeteranganUraian BULAN

INVESTASI BARANG MODAL MODAL KERJAModal Sendiri (%) 40.0% 253,000,000 Modal Sendiri 60.00%Pinjaman (%) 60.0% 379,500,000 Pinjaman 40.00%Total 100.0% 632,500,000 Total 100.00%BIAYA BUNGA (IDC)Biaya Bunga 18.0% 68,310,000 Biaya Bunga MK 18.0%Pembayaran IDC 60.0% 40,986,000 Biaya Provisi MK 1.0%IDC terutang 40.0% 27,324,000Biaya Provisi 1.0% 3,795,000Cicilan Utang Pokok (tahun) 5Cicilan Utang IDC (tahun) 5

Pinjaman BaruCicilan 5Biaya bunga 10.0%

1 2 3 4 5 6 7 8 9 10 11 12Upah 1,000,000 500,000 500,000Biaya Izin-izin 5,000,000 5,000,000Biaya Konsultan 25,000,000 15,000,000 10,000,000Biaya Administrasi Lain-lain 500,000 250,000 250,000Total 31,500,000 20,750,000 10,750,000 0 0 0 0 0 0 0 0 0 0

BIAYA Total BULAN

Nilai Umur Biaya Perolehan Ekonomis Depresiasi/Thn

Tanah 0 0 0Bangunan 0 10 0Kendaraan 495,000,000 5 99,000,000Peralatan Toko/Warung 82,500,000 5 16,500,000Peralatan kantor 27,500,000 5 5,500,000Furniture 27,500,000 5 5,500,000Total 632,500,000 126,500,000

ALOKASI BIAYA DEPRESIASIMasuk ke dalam biaya operasi 60.0%Masuk ke dalam harga pokok penjualan 40.0%Total 100.0%

HARTA TETAP

Asumsi Perediaan Barang Dagangan 5.0 hari penjualan

PROYEKSI NILAI PENJUALANHarga Jual Harga Beli Margin

Proyeksi harga jual (Rp/Unit) 30,000 20,000 50%Asumsi kenaikkan harga/tahun 10.0% 10.0%

PENJUALAN 2015 2016 2017 2018 2019Harga jual (Rp/Unit) 30,000 33,000 36,300 39,930 43,923Volume penjualan (Unit) 120,000 120,000 120,000 120,000 120,000Nilai penjualan (Rp) 3,600,000,000 3,960,000,000 4,356,000,000 4,791,600,000 5,270,760,000

Harga beli (Rp/Unit) 22,000 24,200 26,620 29,282 32,210Volume pembelian (Unit) 121,667 120,000 120,000 120,000 120,000Nilai pembelian (Rp) 2,676,666,667 2,904,000,000 3,194,400,000 3,513,840,000 3,865,224,000LABA BERSIH 256,530,798 311,620,874 368,626,212 447,806,888 514,630,434

20192018201720162015PEMBELIAN

Kredit Penjualan 0 hariKredit Pembelian 30 hariKas 1.20 dari utang usahaBila modal kerja negatif, maka dibutuhkan kas supaya modal kerjanya positif.

2015 2016 2017 2018 2019Modal Kerja 37,277,778 40,333,333 44,366,667 48,803,333 53,683,667

Asset yang diasuransikan (Rp) 632,500,000Premi Asuransi (%) 2.00%Premi Asuransi (Rp) 12,650,000

Alokasi Biaya AsuransiMasuk ke dalam biaya operasi 60.0%Masuk ke dalam harga pokok penjualan 40.0%Total 100.0%

Total Sewa Jangka Waktu Biaya Sewa(Rp) Sewa per tahun

Sewa Tempat Usaha 75,000,000 3 25,000,000Sewa Kendaraan 0 3 0Sewa Peralatan 0 4 0

Biaya Operasi Tetap 50,000,000 Rp per tahunKenaikan biaya tetap 10.0% per tahunBiaya upah/gaji 5.0% % thd penjualanBiaya administrasi dan umum 1.5% % thd penjualanBiaya pemasaran 2.0% % thd penjualanTotal

SUMMARY BIAYA OPERASIONAL2015 2016 2017 2018 2019

Biaya upah/gaji 180,000,000 198,000,000 217,800,000 239,580,000 263,538,000Biaya penyusutan 126,500,000 126,500,000 126,500,000 126,500,000 126,500,000Biaya asuransi 12,650,000 12,650,000 12,650,000 12,650,000 12,650,000Biaya administrasi dan umum 104,000,000 114,400,000 125,840,000 138,424,000 152,266,400Biaya pemasaran 72,000,000 79,200,000 87,120,000 95,832,000 105,415,200Biaya sewa 25,000,000 25,000,000 25,000,000 0 0Total 520,150,000 555,750,000 594,910,000 612,986,000 660,369,600Catatan: Biaya operasi tetap digabungkan dengan biaya administrasi umum

2015 2016 2017 2018 2019FINANCINGPinjaman Baru 0 0 0 0 0Modal Sendiri

Kas Akhir 0 660,274,436 1,083,973,876 1,571,366,147 2,124,862,810 2,742,549,107

TABEL HASIL ASUMSIBerikut adalah hasil laporan keuangan terlampir berdasarkan dari asumsi yang telah dimasukkan .

Uraian 0 2015 2016 2017 2018 2019Penjualan 0 3,600,000,000 3,960,000,000 4,356,000,000 4,791,600,000 5,270,760,000Harga pokok penjualan 0 2,640,000,000 2,900,333,333 3,190,366,667 3,509,403,333 3,860,343,667Laba kotor 0 960,000,000 1,059,666,667 1,165,633,333 1,282,196,667 1,410,416,333

Biaya upah/gaji 0 180,000,000 198,000,000 217,800,000 239,580,000 263,538,000Biaya penyusutan 0 126,500,000 126,500,000 126,500,000 126,500,000 126,500,000Biaya asuransi 0 12,650,000 12,650,000 12,650,000 12,650,000 12,650,000Biaya administrasi dan umum 31,500,000 104,000,000 114,400,000 125,840,000 138,424,000 152,266,400Biaya pemasaran 0 72,000,000 79,200,000 87,120,000 95,832,000 105,415,200Biaya sewa 0 25,000,000 25,000,000 25,000,000 0 0Total biaya operasional 31,500,000 520,150,000 555,750,000 594,910,000 612,986,000 660,369,600Laba operasi (31,500,000) 439,850,000 503,916,667 570,723,333 669,210,667 750,046,733Biaya bunga 68,310,000 73,228,320 58,582,656 43,936,992 29,291,328 14,645,664Pendapatan (biaya) lain-lain (3,795,000) (149,111) (161,333) (177,467) (195,213) (214,735)Laba sebelum pajak (103,605,000) 366,472,569 445,172,677 526,608,875 639,724,125 735,186,335Pajak perusahaan 0 109,941,771 133,551,803 157,982,662 191,917,238 220,555,900Laba bersih (103,605,000) 256,530,798 311,620,874 368,626,212 447,806,888 514,630,434

2015 2016 2017 2018 2019Penjualan 3,600,000,000 3,960,000,000 4,356,000,000 4,791,600,000 5,270,760,000Biaya Tetap 201,500,000 206,500,000 212,000,000 218,050,000 199,705,000Biaya Variabel 2,982,666,667 3,240,600,000 3,564,660,000 3,921,126,000 4,313,238,600Volume Penjualan 120,000 120,000 120,000 120,000 120,000Breakven Sales (Volume) 74,774 66,494 62,767 60,554 54,504Harga Jual 30,000 33,000 36,300 39,930 43,923Breakeven Sales (Rp) 2,243,216,511 2,194,318,124 2,278,456,813 2,417,937,058 2,393,981,088BES/Sales 62.3% 55.4% 52.3% 50.5% 45.4%

Uraian 2015 2016 2017 2018 2019Kas 223,666,667 242,000,000 266,200,000 292,820,000 322,102,000Piutang usaha 0 0 0 0 0Persediaan Barang Dagangan 36,666,667 40,333,333 44,366,667 48,803,333 53,683,667Total 260,333,333 282,333,333 310,566,667 341,623,333 375,785,667

Utang usaha 223,055,556 242,000,000 266,200,000 292,820,000 322,102,000Kebutuhan Modal Kerja 37,277,778 40,333,333 44,366,667 48,803,333 53,683,667Incremental Working Capital 37,277,778 3,055,556 4,033,333 4,436,667 4,880,333

FiancingModal Sendiri 22,366,667 24,200,000 26,620,000 29,282,000 32,210,200Pinjaman 14,911,111 16,133,333 17,746,667 19,521,333 21,473,467Total 37,277,778 40,333,333 44,366,667 48,803,333 53,683,667

Kebutuhan Tambahan Modal Sendiri 22,366,667 1,833,333 2,420,000 2,662,000 2,928,200Kebutuhan Tambahan Pinjaman 14,911,111 1,222,222 1,613,333 1,774,667 1,952,133Total 37,277,778 3,055,556 4,033,333 4,436,667 4,880,333

Biaya Bunga 2,684,000 2,904,000 3,194,400 3,513,840 3,865,224Biaya Provisi 149,111 161,333 177,467 195,213 214,735

Cost of Cost of CapitalCapital Setelah Pajak

Modal Sendiri 40% 25.0% 25.0% 10.0%Pinjaman 60% 18.0% 12.6% 7.6%Total 100% WACC = 17.6%

Spread Ke di atas Kd 7%

Financing Porsi Perkalian

Satus Proyek LAYAK

Uraian 0 2015 2016 2017 2018 2019CASH INFLOWEBIT (1-T) 0 307,895,000 352,741,667 399,506,333 468,447,467 525,032,713Biaya Penyusutan 0 126,500,000 126,500,000 126,500,000 126,500,000 126,500,000Nilai Sisa Harta Tetap 0 0 0 0 0 0Modal Kerja Akhir Priode 0 0 0 0 0 2,232,101,407Total Cash Inflow 0 434,395,000 479,241,667 526,006,333 594,947,467 2,883,634,120

CASH OUTFLOWHarga Tetap 632,500,000 0 0 0 0 0Incremental Working Capital 0 37,277,778 3,055,556 4,033,333 4,436,667 4,880,333Total Cash Outflow 632,500,000 37,277,778 3,055,556 4,033,333 4,436,667 4,880,333

Net Cash Flow (632,500,000) 397,117,222 476,186,111 521,973,000 590,510,800 2,878,753,787PVIF 17.6% 1.0000 0.8506 0.7236 0.6155 0.5236 0.4454PV (632,500,000) 337,799,611 344,554,217 321,269,359 309,164,440 1,282,054,936NPV 1,962,342,563 LAYAKIRR 83.53%Payback Period 1.9 tahun

Uraian 0 2015 2016 2017 2018 2019COLLECTIONPenerimaan dari penjualan 0 3,600,000,000 3,960,000,000 4,356,000,000 4,791,600,000 5,270,760,000Penerimaan piutang usaha 0 0 0 0 0 0Pendapatan lain-lain 0 0 0 0 0 0Total penerimaan 0 3,600,000,000 3,960,000,000 4,356,000,000 4,791,600,000 5,270,760,000PEMBAYARANPembayaran pembelian 0 2,453,611,111 2,662,000,000 2,928,200,000 3,221,020,000 3,543,122,000Pembayaran utang usaha 0 0 223,055,556 242,000,000 266,200,000 292,820,000Biaya upah/gaji 0 180,000,000 198,000,000 217,800,000 239,580,000 263,538,000Biaya asuransi 0 12,650,000 12,650,000 12,650,000 12,650,000 12,650,000Biaya administrasi dan umum 31,500,000 104,000,000 114,400,000 125,840,000 138,424,000 152,266,400Biaya pemasaran 0 72,000,000 79,200,000 87,120,000 95,832,000 105,415,200Biaya sewa 75,000,000 0 0 0 0 0Pajak perusahaan 0 0 109,941,771 133,551,803 157,982,662 191,917,238Pembayaran cicilan utang bank 0 81,364,800 81,364,800 81,364,800 81,364,800 81,364,800Pembayaran bunga 40,986,000 73,228,320 58,582,656 43,936,992 29,291,328 14,645,664Biaya provisi bank 3,795,000 149,111 161,333 177,467 195,213 214,735Pembelian harta tetap baru 632,500,000 0 0 0 0 0Total pembayaran 783,781,000 2,977,003,342 3,539,356,116 3,872,641,062 4,242,540,004 4,657,954,036Selisih penerimaan dan pembayaran (783,781,000) 622,996,658 420,643,884 483,358,938 549,059,996 612,805,964Kas awal 0 0 660,274,436 1,083,973,876 1,571,366,147 2,124,862,810Kas sebelum financing (783,781,000) 622,996,658 1,080,918,320 1,567,332,814 2,120,426,143 2,737,668,774FINANCINGInvestasi Harta TetapModal Sendiri 404,281,000 0 0 0 0 0Pinjaman Bank 379,500,000 0 0 0 0 0Modal KerjaModal Sendiri 0 22,366,667 1,833,333 2,420,000 2,662,000 2,928,200Pinjaman Bank 0 14,911,111 1,222,222 1,613,333 1,774,667 1,952,133Pinjaman Baru 0 0 0 0 0 0Total financing 783,781,000 37,277,778 3,055,556 4,033,333 4,436,667 4,880,333Kas akhir 0 660,274,436 1,083,973,876 1,571,366,147 2,124,862,810 2,742,549,107

Kontrol Neraca 0 0 0 0 0 0Uraian 0 2015 2016 2017 2018 2019

HARTAHARTA LANCARKas dan bank 0 660,274,436 1,083,973,876 1,571,366,147 2,124,862,810 2,742,549,107Piutang usaha 0 0 0 0 0 0Persediaan Barang Dagangan 0 36,666,667 40,333,333 44,366,667 48,803,333 53,683,667Sewa dibayar di muka 75,000,000 50,000,000 25,000,000 0 0 0Total harta lancar 75,000,000 746,941,102 1,149,307,209 1,615,732,814 2,173,666,143 2,796,232,774HARTA TETAPNilai perolehan 632,500,000 632,500,000 632,500,000 632,500,000 632,500,000 632,500,000Akumulasi penyusutan 0 (126,500,000) (253,000,000) (379,500,000) (506,000,000) (632,500,000)Harta tetap (net) 632,500,000 506,000,000 379,500,000 253,000,000 126,500,000 0TOTAL HARTA 707,500,000 1,252,941,102 1,528,807,209 1,868,732,814 2,300,166,143 2,796,232,774UTANGUtang usaha 0 223,055,556 242,000,000 266,200,000 292,820,000 322,102,000Utang bunga 27,324,000 21,859,200 16,394,400 10,929,600 5,464,800 0Utang pajak 0 109,941,771 133,551,803 157,982,662 191,917,238 220,555,900Utang bank jangka pendek 0 14,911,111 16,133,333 17,746,667 19,521,333 21,473,467Utang bank jangka panjang 379,500,000 303,600,000 227,700,000 151,800,000 75,900,000 0Pinjaman Baru 0 0 0 0 0 0Total Utang 406,824,000 673,367,637 635,779,537 604,658,929 585,623,371 564,131,367MODAL SENDIRIModal disetor 404,281,000 426,647,667 428,481,000 430,901,000 433,563,000 436,491,200Laba ditahan 0 (103,605,000) 152,925,798 464,546,672 833,172,885 1,280,979,772Laba tahun berjalan (103,605,000) 256,530,798 311,620,874 368,626,212 447,806,888 514,630,434Total ekuitas 300,676,000 579,573,465 893,027,672 1,264,073,885 1,714,542,772 2,232,101,407TOTAL UTANG DAN MODAL SENDIRI 707,500,000 1,252,941,102 1,528,807,209 1,868,732,814 2,300,166,143 2,796,232,774

2015 2016 2017 2018 2019Current ratio 2.02 2.82 3.57 4.26 4.96Quick ratio 1.92 2.72 3.47 4.17 4.86Inventory turnover 98.18 98.18 98.18 98.18 98.18Average collection period 0.00 0.00 0.00 0.00 0.00Working capital turnover 4.82 3.45 2.70 2.20 1.88Fixed asset turnover 7.11 10.43 17.22 37.88 0.00Total asset turnover 2.87 2.59 2.33 2.08 1.88Interest coverage ratio 6.01 8.60 12.99 22.85 51.21Debt to equity ratio 116.2% 71.2% 47.8% 34.2% 25.3%Bebt ratio 53.7% 41.6% 32.4% 25.5% 20.2%Return on assets 20.5% 20.4% 19.7% 19.5% 18.4%Return on equity 44.3% 34.9% 29.2% 26.1% 23.1%Profit margin 7.1% 7.9% 8.5% 9.3% 9.8%

~Selesai~