KONTRAK PEMEGANG SAHAM DENGAN MANAJER PEMEGANG SAHAM PEMILIK

KONTRAK PEMEGANG SAHAM DENGAN MANAJER PEMEGANG SAHAM (PEMILIK PERUSAHAN) H A R A YE AT EN T A M AN OL K EL K MANAJER-MANAJER (MANAJER KEUANGAN) TU JU AN MEMAKSIMUMKAN NILAI SAHAM ME WU TU JUD JU KA AN N

FUNGSI MANAJER KEUANGAN KEPUTUSAN INVESTASI OUTPUT KEPUTUSAN STRUKTUR AKTIVA YANG OPTIMUM ANGKA PENJUALAN YANG MAKSIMUM BIAYA OPERASI YANG MINIMUM LABA MAKSIMUM KEPUTUSAN PENDANAAN STRUKTUR MODAL& FINANSIIL OPTIMUM

HASIL KERJA MANAJER TERTUANG DALAM LAPORAN KEUANGAN PERFORMAN KEUANGAN DIUKUR DARI HASIL ANALISIS LAPORAN KEUANGAN BERUPA RASIO-RASIO KEUANGAN ØRASIO LIKUIDITAS ØRASIO SOLVABILITAS ØRASIO AKTIVITAS ØRASIO 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 ANALYSIS LIQUIDITY Measures ability to meet current debts with current assets Measures ability to meet current debts with mostliquid (quick) current assets Measures ability to meet current debts with cash

LEVERAGE Shows 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

ACTIVITY =ASSET UTILIZATION Measures how many times the receivables have been turned over into cash during the year Measures how many times the inventory has been turned over (sold) during the year Measures. Relative efficiency of total assets to generate sales

PROFITABILITY Measures profitability with respect to sales generated; net income per dollar of sales Measures 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

Balance Sheet as of December 31, 2009 Cash $ 155, 000 Receiveables 672, 000 Iventory 483, 000 Total current Asset $1, 310, 000 Net fixed assets 585, 000 Total assets $1, 895, 000 Accounts payable $ 258, 000 Notes Payable 168, 000 Other current liabilities 234, 000 Total current liabiities $660, 000 Long-term debt 513, 000 Common equity 722, 000 Total liabilities and equity $1, 895, 000

Income Statement for Year Ended December 31, 2009 Sales Cost of goods sold Materials Labor Heat, Light, and power Indirect labor Depreciation Gross profit Selling Expenses General and adminisrative expenses Earnings before interest and taxes Interest expenses Net income before taxes Federal and state income taxes (40%) Net Income $3, 215, 000 $1, 434, 000 906, 000 136, 000 226, 000 83, 000 2, 785, 000 430, 000 230, 000 60, 000 $ 140, 000 49, 000 $ 91, 000 36, 400 $ 54, 600