FINANCIAL PLANNING The Financial Planning Process Financial planning

FINANCIAL PLANNING The Financial Planning Process. Financial planning: aspek penting dalam kehidupan dan operasi perusahaan yang berfungsi sebagai pedoman, koordinasi dan pengendalian tindakan perusahaan untuk mencapai tujuan. Dua aspek penting dalam financial planning process: • Cash Planning: persiapan cash budget perusahaan • Profit Planning: perencanaan profit dengan menyusun laporan keuangan proforma. The Financial Planning Process Long Run/Strategic Financial Plan Fixed Assets Outlays R & D Activities Marketing & Product Development Actions Sources of Financing Termination of Existing Project, product Line Repayment of Outstanding Debts Planned Acquisition Key Input: Short/Operating Plans & Budgets Sales Forecast Various Forms of Operating & Financial Data Key Output: Operating Budgets Cash Budgets Proforma Financial

Short Run Financial Planning Process: Sales Forecast Production Plans Current Period Balance Sheet Statement Proforma Income Statement Long Term Financing Plan Cash Budget Fixed Asset Outlay Plan Proforma Balance Sheet Production Plans mencakup estimasi biaya bahan baku, tenaga kerja, overhead dan operasi. Cash Planning: Cash Budgets. Cash Budget: Proyeksi keuangan perusahaan terhadap surplus atau kekurangan kas jangka pendek. Biasanya disusun dalam periode satu tahun dan diperinci dalam jangka waktu yang lebih pendek. Kelebihan kas dapat diinvestasikan ke marketable securities dan kekurangan kas dapat ditutup dengan pendanaan jangka pendek. The Sales Forecast. The sales forecast: Prediksi penjualan perusahaan dalam jangka tertentu yang didasarkan pada data internal dan external. Berdasarkan ramalan ini, perusahaan menyusun aliran kas bulanan yang berasal dari proyeksi: • Penerimaan penjualan • Pengeluaran untuk produksi • Persediaan • Biaya penjualan • Asset tetap • Besarnya pendanaan

External forecast: Peramalan penjualan didasarkan pada hubungan penjualan perusahaan dengan indikator ekonomi eksternal: GNP dan Personal Income. Internal forecast: : Peramalan penjualan didasarkan pada konsensus penjualan melalui saluran penjualan perusahaan sendiri. Informasi dapat dikumpulkan dari bagian marketing dan produksi. Dalam melakukan prediksi, perusahaan harus mengkombinasikan data peramalan eksternal dan internal sebagai dasar peramalan penjualan final. Mempersiapkan cash Budget. JAN FEB … DES Cash Receipts (Minus) Cash Disbursements Net Cash Flow (Plus) Beginning Cash Ending Cash (Minus) Minimum Cash Balance Required Total Financing Excess Cash Balance Cash Receipts: Cash sales, collections of account receivables & other cash receipts Cash Disbursements: Cash purchases, Payments of account payable, payments of cash dividents, Rent payments, Wages & salaries, Tax payments, Fixed assets outlays, Interest payments, Principal payments, dan Repurchase of stock

Contoh: PT ABC akan menyusun cash budget bulan Oktober, November dan Desember dengan data sbb: Skedul Proyeksi Cash Receipts Forecast Sales Cash Sales (20%) Collectionsof A/R: One month (50%) Two month (30%) Aug $ 100 20 Sept 200 40 Oct 400 80 Nov 300 60 Dec 200 40 50 100 30 200 60 150 120 30 340 Other cash receipts Total Cash Receipts 210 Skedul Proyeksi Cash Disbursement Purchase (70 % x sales) Cash purchase (10%) Payments of A/P: One month (70%) Two month (20%) Cash Dividents Rent Expenses Wages & Salaries Tax Payments Fixed Assets Outlays Interest Payments Principal Payments Total Cash Disbursements Aug $ 70 7 Sept 140 14 Oct 280 28 Nov 210 21 Dec 140 14 49 98 14 20 5 48 196 28 147 56 5 38 5 28 25 130 213 418 10 20 305

Berdasarkan Skedul Cash Receipts dan Disbursements, maka dapat disusun Cash Budgets: Total Cash Receipts (Minus) Cash Disbursements Net Cash Flows (Plus) Beginning Cash Ending Cash (Minus) Minimum Cash Balance Required Total Financing Excess Cash Balance Oct 210 213 (3) 50 47 25 22 Nov 320 418 (98) 47 (51) 25 76 - Dec 340 305 35 (51) (16) 25 41 -

Profit Planning: Proforma Statements: Proyeksi laporan keuangan Income statement dan Balance sheets. Profit planning process memusatkan persiapan proforma sataments. pada Input untuk penyusunan proforma statements: q Financial Statements dari tahun sebelumnya q Sales forecast untuk tahun yang akan datang.

INCOME STATEMENT FOR VECTRA MANUFACTURING FOR THE YEAR ENDED DECEMBER 31, 2017 Sales Revenue: Model X (1, 000 units at @ 20) Model Y (2, 000 units at @ 40) Total sales CGS: Labor Material A Material B Overhead Total CGS Gross Profit Operating expenses Interest expense EBT TAX (15%) EAT 20, 000 80, 000 100, 000 28, 500 8, 000 5, 500 38, 000 80, 000 20, 000 1, 000 9, 000 1, 350 3, 650 BALANCE SHEET FOR VECTRA MANUFACTURING FOR THE YEAR ENDED DECEMBER 31, 2017 Assets Cash Marketable securities Acc Rec Inventories Total Current Assets Net Fiexd Assets Total Assets Liabilities and Equities 6, 000 4, 000 13, 000 16, 000 39, 000 51, 000 90, 000 Acc Payable Taxes payable Notes payable Other CL Total CL Long term debts Stock holders’ Equity: Common stock Retained Earnings 7, 000 300 8, 300 3, 400 19, 000 18, 000 30, 000 23, 000 90, 000

2018 sales Forecast for Vectra Manufacturing Unit sales: Model X Model Y Price Model X Model Y 1, 500 units 1, 950 units $ 25 per unit $ 50 per unit INCOME STATEMENT FOR VECTRA MANUFACTURING FOR THE YEAR ENDED DECEMBER 31, 2017 Sales Revenue: Model X (1, 000 units at @ 20) Model Y (2, 000 units at @ 40) Total sales CGS: Labor Material A Material B Overhead Total CGS Gross Profit Operating expenses Interest expense EBT TAX (15%) EAT 20, 000 80, 000 100% 80, 000 20, 000 1, 000 9, 000 1, 350 3, 650 80% 20% 1% 9% 1. 35% 3. 65% 28, 500 8, 000 5, 500 38, 000

PROJECTED INCOME STATEMENT FOR VECTRA MANUFACTURING FOR THE YEAR ENDED DECEMBER 31, 2018 Sales Revenue: Model X (1, 500 units at @ 25) Model Y (1, 950 units at @ 50) Total sales CGS: Labor Material A Material B Overhead Total CGS Gross Profit Operating expenses Interest expense EBT TAX (15%) EAT Dividend (assumed) Retained earnings 37, 500 97, 500 135, 000 38, 475 10, 800 7, 425 51, 300 108, 000 27, 000 13, 500 1, 350 12, 150 1, 823 10, 327 4, 000 6, 327 Total sales CGS: Labor Material A Material B Overhead Total CGS Gross Profit Operating expenses Interest expense EBT TAX (15%) EAT 100% 80% 20% 1% 9% 1. 35% 3. 65%

PREPARING PRO FORMA BALANCE SHEET 2018

Answer: 2018

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