KONTRAK PEMEGANG SAHAM DENGAN MANAJER

PEMEGANG SAHAM(PEMILIK PERUSAHAN)

MANAJER-MANAJER(MANAJER KEUANGAN)

MEMAKSIMUMKAN NILAI SAHAM

MENYERAH

KAN TATA

KELOLA

TUJUAN

MEWUJUDKAN

TUJUAN

FUNGSI MANAJER KEUANGAN

KEPUTUSAN INVESTASI

KEPUTUSAN PENDANAAN

OUTPUT KEPUTUSAN

STRUKTUR AKTIVA YANG OPTIMUM

ANGKA PENJUALAN YANG MAKSIMUM

BIAYA OPERASI YANG MINIMUM

LABA MAKSIMUM

STRUKTUR MODAL& FINANSIIL OPTIMUM

HASIL KERJA MANAJER TERTUANG DALAM LAPORAN KEUANGANPERFORMAN KEUANGAN DIUKUR DARI HASIL ANALISIS LAPORAN KEUANGAN BERUPA RASIO-RASIO KEUANGANRASIO LIKUIDITASRASIO SOLVABILITASRASIO AKTIVITASRASIO PROFITABILITAS

LIKUIDITAS : MENGUKUR KEMAMPUAN PERUSAHAAN DALAM MEMENUHI KEWAJIBAN JANGKA PENDEK DENGAN MENGGUNAKAN AKTIVA LANCAR

SOLVABILITAS:MENGUKUR PERAN HUTANG DALAM MENDANAI AKTIVA DAN KEMAMPUAN PERUSAHAAN DALAM MEMENUHI KEWAJIBAN BUNGA DAN ANGSURAN PINJAMAN

RASIO AKTIVITAS: MENGUKUR TINGKAT EFFISIENSI PENGGUNAAN ASET DALAM MENGHASILKAN PENJUALAN

RASIO PROFITABILITAS: MENGUKUR KEMAMPUAN PERUSAHAAN DALAM MENGHASILKAN LABA DARI ASET MAUPUN DARI PENJUALAN

FINANCIAL STATEMENT ANALYSISLIQUIDITY

Measures ability to meet current debts with current assets

Measures ability to meet current debts with most-liquid (quick) current assets

Measures ability to meet current debts with cash

belitiesCurrentLiaetsCurrentAssRatioCurrent

belitiesCurrentLiasInventorieCAQuickRatio

belitiesCurrentLiaSecuritiesCashCashRatio

LEVERAGEShows the relative extent to which the firm is using borrowed money

Indicates the extent to which debt financing is used relative to equity financing

Indicates ability to cover interest charges; tells number of times interest is earned

TotalAssetTotalDebtDebtRatio

equityrsShareholdeTotaldebtEquityToDebt

'

penseInterestExEBITerageInterest cov

ACTIVITY =ASSET UTILIZATION

Measures how many times the receivables have been turned over into cash during the yearMeasures how money times the inventory has been turned over (sold) during the year

MeasuresRelative efficiency of total assets to generate sales

ceivablesAveragereditSalesAnnualNetCRTO

Re

nventoryAverageOfIsSoldCostOfGoodOInventoryT

sTotalAssetNetSalesTurnoverTotalAsset

PROFITABILITYMeasures profitability with respect to sales generated;net income per dollar of salesMeasures Overalleffectiveness in generating profits with available assets, earning power on invested capital

ROI= NPM X TATO

Measures earning power on shareholders’book-value investment

ROE=NPM X TATO X EQUITY MULTIPLIER

sTotalAssetaxesofitAfterTNetstmentturnOnInve PrRe

EquityrsShareholdeaxesofitAfterTNetROE

'Pr

equityrsShareholdesTotalAssetiplierEquityMult'

Balance Sheet as ofDecember 31, 2009

Cash $ 155,000

Receiveables 672,000

Iventory 483,000

Total current Asset $1,310,000Net fixed assets 585,000

Total assets

$1,895,000

Accounts payable $ 258,000Notes Payable 168,000Other current liabilities 234,000Total current liabiities $660,000Long-term debt 513,000Common equity 722,000Total liabilities and equity

$1,895,000

Income Statement for Year EndedDecember 31, 2009

Sales $3,215,000Cost of goods sold

Materials $1,434,000Labor 906,000Heat, Light, and power 136,000Indirect labor 226,000Depreciation 83,000 2,785,000

Gross profit 430,000Selling Expenses 230,000General and adminisrative expenses 60,000

Earnings before interest and taxes $ 140,000Interest expenses 49,000

Net income before taxes $ 91,000Federal and state income taxes (40%) 36,400Net Income $ 54,600