Financial Engineering Class Sesi 1 Ver 2.0
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Transcript of Financial Engineering Class Sesi 1 Ver 2.0
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Financial Engineering Class
Sesi 1
Ir. F. Parno Isworo MM. MBA
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The Corporate World in Global Economy
Capital market Debt market
Corporation
Raw Materials market
Money market
Shareholders
Product market Prod. Equipment market
GLOBAL
NATIONAL
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Corporate Goal and Support Means
Going concern
Jack Welch :
Im here not to predict the world. Im here to be sure Ive got acompany that is strong enough to respond to whatever happens
Shareholders value
needs
COMMON MEASURES i.e.
Financial Reports based on internationally acknowledged standards
Risks Measures based by internationally acknowledged body
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Topics to Discuss
ACCOUNTING and CORPORATE FINANCE
Accounting Corporate FinanceENVIRONMENT OF INTERNATIONAL FINANCIAL MANAGEMENT Balance of Payments and International Economic Linkages Determination of Exchange Rates and Foreign Exchange Market Currency Futures and Options Markets
Parity Conditions in International FinanceEXCHANGE RATE BEHAVIOUR Government Influence International Arbitrage and Interest Rate Parity Inflation, Interest Rate and Exchange RatesFOREIGN EXCHANGE RISK MANAGEMENT
Transaction Exposure Economic and Translation ExposureSHORT-TERM ASSET AND LIABILITY MANAGEMENTLONG-TERM ASSET AND LIABILITY MANAGEMENT
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Yang ingin anda ketahui tentang Perusahaan
CORPORATE INFORMATION
Non quantitative Info Quantitative Info
Accounting Info Non accounting Info
Operating Info Financial Accounting Management Accounting
Inside and outside parties- Shareholders- Lenders- Tax office
Inside parties- Planning- Implementation- Control
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CASH
NVESTMENTS
PRODUCTION
SALES
PERUSAHAAN GOING CONCERN KARENA MENERAPKAN PRINSIP
SIKLUS KEUANGAN USAHASIKLUS KEUANGAN USAHA
OP & MAINTENANCE
RAW MATERIALS
CASH
COGS
DISTRIBUTION
SALES
SG&A
Perusahaan ProduksiPerusahaan Produksi
Perusahaan DagangPerusahaan Dagang
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PRODUKSI / OPERASI
ARUSARUS DANA KAS PERUSAHAANDANA KAS PERUSAHAAN
PEMEGANG SAHAM
EKUITAS
KREDITUR
DANA KAS PERUSAHAAN
HUTANG
MATERIAL GAJI / UPAH ADM A.T A.T baru
PENJUALAN
KREDIT
PENDAPATAN
LUAR OPERASI
INVESTASI
BUNGA CICILAN
PEMERINTAH
PAJAKDIVIDEN
A.T = Aktiva Tetap
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FINANCIAL STATEMENTS
Accounting Standards Principles
Generally Accepted Accounting Principles (GAAP) oleh Financial AccountingStandard Board (FASB)
Peraturan Standar Akuntansi Keuangan (PSAK) Indonesia oleh Ikatan AkuntanIndonesia (IAI)
International Financial Reporting Standard (IFRS)
Accounting Policy
Corporate policy Industry standard
Financial Statement providing information : To present and potential investors and creditors Comprehensible to those who understand the business to study the information
with diligence
About the resources of the company and the claim on those resources About the companys financial performance during the period To help users assess the amounts, timing and uncertainty of prospective cash
receipts from dividends or interest and the proceeds of sale or redemption ofsecurities or loans
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Basic Accounting ConceptsThe Balance Sheet
1. Money MeasurementsAccounting records only the facts that can be expressed in monetary terms
2. EntityAccounts are kept for entities, as distinguished from the persons who areassociated with those entities
3. Going Concern
Accounting assumes that an entity will continue to operate indefinitely and that itis not about to be liquidated
4. CostAn asset is ordinarily entered in the accounts at the amount paid to acquire it,and this cost rather than current market value is the basis for subsequentaccounting for the asset.
5. Dual AspectThe total amount of assets equals to the total amount of liabilities and ownersequity
6. Accounting Period 9. Matching7. Conservatism 10. Consistency8. Realization 11. Materiality
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Basic Accounting ConceptsThe Income Statement
1. Money Measurements 4. Cost
2. Entity 5. Dual Aspect3. Going Concern
6. Accounting PeriodAccounting measures activities for a specified interval of time, usually one year
7. ConservatismRevenues are recognized when they are reasonably certain, where as expenses arerecognized when they are reasonably possible
8. RealizationThe amount recognized as revenue is the amount that reasonably certain to be realized, thatis, paid by customers
9. MatchingWhen a given event affects both revenues and expenses, the effect on each should berecognized in the same accounting period. Matching cost against revenue
10. ConsistencyOnce an entity has decided on a certain accounting method, it should use the same methodfor all subsequent events of the same character unless it has a sound reason to changemethods.
11. MaterialityInsignificant events may be disregarded, but there must be full disclosure of all importantinformation
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Other Accounting ConceptsThe Income Statement
1. Accrual versus Cash-Basis Accounting
Accrue means charged or accounted for although it may notbe cash receipt or outlay
2. Income Tax Accounting The use of accelerated depreciation for tax calculationpurpose, which is different from the straight line method forfinancial reporting
3. Economic Income
Economic Income measures intangibles, values,adjustments for transaction with owner(s) in dividend,additional paid-in capital and return on equity
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Penjelasan1 Terdiri dari kas di brankas dan rekening giro di bank
2 Umumnya berupa sea yang dibayar di muka (dalam Income Statement iniberupa Selling , General and Administration (SG A)
3 Tahun 1999 tidak ada penjualan asset yang dimiliki atau perolehan assetbaru. Tahun 2000 gudang diperluas dengan biaya US$ 12 juta dan assetyang dulu dibeli senilai US$ 9 juta dijual pada nilai buku US$ 2 juta
4 Accrued expenses terdiri dari wages dan taxes payable
5 long-term debt dibayar kembali dengan cicilan US$ 8 juta per tahun. Tahun1999 tidak ada long-term debt baru, tetapi dalam tahun 2000 diperolehpinjaman jangka pendek dari bak untuk membiayai perluasan gudang padabutir 3
6 Selama 3 tahun itu tidak ada saham baru diterbitkan dan tidak ada saham
yang dibeli kembali.
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Contoh Penyusunan Neraca dan Laba Rugi
Buka Accounting Examples.xls.
Tentang pembangunan PLTD sampai ber-operasi
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Analysis of Monetary Assets
Calculated based on Balance Sheet
Current Ratio
Current Assets divided by Current Liabilities
Acid Test Ratio or Quick Ratio
Monetary Current Assets divided by Current Liabilities
Days Cash
Cash cost per day
Days Receivables or Collection Period
Account Receivables divided by Sales per day
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Reference Material forFinancial Engineering and Regulatory Issues
Acounting Text and Cases - Anthony, Reese, Hertenstein, IRWIN
Understanding Return on Investment George T. FriedLob andFranklin J. Plewa, Jr. - JOHN WILEY
Financial Management Theory and Practice Eugen Brigham and
Louis Gapensky DRYDEN PRESS International Finance an Analytical Approach Imad Moosa, - MC
GRAW HILL
Foundations of Multinational Financial Management Alan C.,Saphiro ALLYN AND BACON
Finance for Executives, Managing for Value Creation Hawawini,Viallet - SOUTH WESTERN THOMSON LEARNING
Valas untuk Manager DR. Hamdy Hady GHALIA INDONESIA
Pasar Uang dan Valas Jose Rizal joesoef SALEMBA EMPAT