11

PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN

LECTURE 2 – NET WORKING LECTURE 2 – NET WORKING CAPITAL CAPITAL

PP/MB-IPB/10 22

OutlineOutline

Tracing Cash and Net Working CapitalTracing Cash and Net Working Capital

The Operating Cycle and the Cash CycleThe Operating Cycle and the Cash Cycle

Some Aspects of Short-Term Financial Some Aspects of Short-Term Financial PolicyPolicy

The Cash BudgetThe Cash Budget

A Short-Term Financial PlanA Short-Term Financial Plan

PP/MB-IPB/10 33

Sources and Uses of CashSources and Uses of Cash

Balance sheet identity (rearranged)Balance sheet identity (rearranged) NWC + fixed assets = long-term debt + equityNWC + fixed assets = long-term debt + equity NWC = cash + other CA – CLNWC = cash + other CA – CL Cash = long-term debt + equity + CL – CA other than cash – Cash = long-term debt + equity + CL – CA other than cash –

fixed assetsfixed assets

SourcesSources Increasing long-term debt, equity or current liabilitiesIncreasing long-term debt, equity or current liabilities Decreasing current assets other than cash or fixed assetsDecreasing current assets other than cash or fixed assets

UsesUses Decreasing long-term debt, equity or current liabilitiesDecreasing long-term debt, equity or current liabilities Increasing current assets other than cash or fixed assetsIncreasing current assets other than cash or fixed assets

PP/MB-IPB/10 44

The Operating CycleThe Operating Cycle

Operating cycleOperating cycle – time between purchasing the – time between purchasing the inventory and collecting the cash from selling the inventory and collecting the cash from selling the inventoryinventory

Inventory periodInventory period – time required to purchase and – time required to purchase and sell the inventorysell the inventory

Accounts receivable periodAccounts receivable period – time required to – time required to collect on credit salescollect on credit sales

Operating cycleOperating cycle = inventory period + accounts = inventory period + accounts receivable periodreceivable period

PP/MB-IPB/10

Untuk melihat file Untuk melihat file lengkapnya silahkan lengkapnya silahkan

menghubungi kami di menghubungi kami di www.mb.ipb.ac.id