Laporan Laba Rugi dan Laporan Arus Kas BAB 4 Laporan Laba Rugi dan Laporan Arus Kas

Why Is a Measure of Income Important? Pengambilan keputusan sehubungan dengan laporan keuangan selalu memperhatikan ukuran keberhasilan perusahaan dalam pemakaian sumber daya yg digunakan dalam operasi Apakah aktivitas sudah menguntungkan ? Atau Apakah tingkat profitabilitas meningkat atau menurun ?

Why Is a Measure of Income Important? Apakah perusahaan akan cukup menguntungkan sehingga mampu membayar bunga hutang dan deviden kepada pemegang saham dan masih tumbuh pada tingkat yg diinginkan ? Bagaimana Tren Profitabilitas ? Bagaimana Hasil di Tahun depan ? Apakah aktivitas sudah menguntungkan ? Knowing the firm’s income is important because being able to measure income better helps to answer such questions.

How Is Income Measured? Pendekatan Transaksi Laba dengan pendekatan transaksi berfokus pada kejadian ekonomis yg mempengaruhi element tertentu pada laporan keuangan, yaitu pendapatan, beban, keuntungan dan kerugian

How Is Income Measured? Pendekatan Transaksi Laba diukur sebagai perbedaan aliran masuk sumber daya (pendapatan dan keuntungan) dan aliran keluar (beban dan kerugian).

Metode penandingan/pengaitan How Is Income Measured? Transaction Approach Pendekatan transaksi memberikan rincian yang dapat membantu memprediksi arus kas masa depan. Disebut juga Metode penandingan/pengaitan

Revenue and Gain Recognition Revenue: Arus kas masuk atau peningkatan lain dari aktiva suatu entitas atau pelunasan kewajibannya dari penyerahan atau produksi suatu barang, pemberian jasa atau aktivitas lain yang merupakan usaha terbesar atau usaha utama yang sedang dilakukan entitas tersebut

Revenue and Gain Recognition Expense: Arus keluar atau penggunaan lain dari aktiva atau timbulnya kewajiban dari penyerahan atau produksi suatu barang, pemberian jasa atau pelaksanaan aktivitas lain yang merupakan usaha terbesar atau usaha utama yg sdg dilakukan entitas tersebut

Revenue and Gain Recognition Gain: Peningkatan dalam ekuitas (aktiva bersih) dari transaksi sampingan atau transaksi yang terjadi sesekali dari suatu entitas dan dari semua transaksi, kejadian dan kondisi lainnya yang mempengaruhi entitas tersebut, kecuali yang berasal dari pendapatan atau investasi pemilik

Revenue and Gain Recognition Loss: Penurunan dalam ekuitas (aktiva bersih) dari transaksi sampingan atau transaksi yang terjadi sesekali dari suatu entitas dan dari semua transaks, kejadian dan kondisi lainnya yg mempengaruhi entitas tersebut, kecuali yang berasal dari pendapatan atau investasi pemilik

Revenue and Gain Recognition Pendapatan diakui apabila perusahaan yang menghasilkan pendapatan telah menyerahkan barang atau jasa yang dijanjikan kepada pelanggan dan ketika pelanggan telah melakukan pembayaran atau setidaknya memberikan janji pembayaran yang pasti

Pengakuan Lebih Awal Apabila terdapat pasar untuk suatu produk dijual dengan harga yang berlaku dpt dipastikan tanpa upaya penjualan yg besar, maka pendapatan dapat diakui pada saat produksi selesai

Pengakuan Lebih Awal Jika kontrak suatu produk atau jasa dilakukan di muka, pendapatan dapat diakui pada saat produksi dilakukan atau jasa dilaksanakan terutama jika periode produksi atau pelaksanaan jasa melebihi satu tahun fiskal.

Pengakuan Kemudian Jika penagihan atau perolehan aktiva atas barang atau jasa yang diserahkan dianggap meragukan, pendapatan dan keuntungan dapat diakui pada saat kas diterima.

Pengakuan Beban dan Kerugian Penandingan/pengaitan langsung. Alokasi sistematik dan rasional Pengakuan dengan segera

Form of the Income Statement Revenue $xxx Costs and expenses: Costs of sales xxx Selling and administrative xxx Interest expense xxx Other income/expense, net xxx Restructuring charge xxx Total costs and expenses xxx Income before income taxes xx Income taxes xx Net income $ xx Single-Step Income Statement

Form of the Income Statement Revenue $xxx Costs of goods sold: Beginning inventory xxx Net purchases xxx Cost of goods available for sale xxx Less ending inventory xxx xxx Gross profit on sales xxx Operating expenses: Selling expenses xxx General expenses xxx xxx Other income xxx Multiple-Step Income Statement Continued

Form of the Income Statement Other income (from previous page) $xxx Other revenue and gains xxx Other expenses and losses (xxx ) Income from continuing operations before income taxes xxx Income taxes on continuing operations (xxx ) Discontinued operations: Loss from operations of discontinued business segment (net of tax) $xxx Loss on disposal of segment (net of tax) xxx (xxx ) Extraordinary gain (net of tax) xxx Net income $xxx

Form of the Income Statement Comparative financial statements present several years’ financial statements side by side. This enables users to analyze performance over multiple periods and identify significant trends. Consolidated financial statements combine the financial results of the “parent company” with other companies that it owns, called subsidiaries.

Components of the Income Statement Laba dari operasi berkelanjutan 1. Revenue 2. Harga Pokok Penjualan 3. Beban Operasional 4. Pendapatan dan keuntungan lain 5. Beban dan kerugian lain 6. Pajak penghasilan atas operasi berkelanjutan

Components of the Income Statement Pendapatan dari operasi berkelanjutan Determining Subtotals Laba Kotor: Pendapatan – HPP Laba Operasional: Laba Kotor – Beban Operasional Continued

Components of the Income Statement Income from Continuing Operations Determining Subtotals Income from continuing operations before income taxes: Operating income + Other revenues and gain – Other expenses and losses Income from continuing operations: Income from continuing operations before income taxes – Income taxes on continuing operations

Components of the Income Statement Revenue Revenue reports the total sales to customers for the period less any sales returns and allowances or discounts.

Components of the Income Statement Cost of Goods Sold Beginning inventory + Net purchases + Freight-in + Other inventory acquisition costs = Cost of goods available for sale – Ending inventory = Cost of goods sold

Components of the Income Statement Cost of Goods Sold Cost of goods sold is a significant item on merchandising and manufacturing companies’ income statement.

Components of the Income Statement Gross Profit/laba kotor Net sales – Cost of goods sold = Gross profit Gross profit ÷ Net sales = Gross profit percentage/persentase laba kotor

Components of the Income Statement Operating Expenses/Beban Operasi Operating expenses may be reported in two parts: 1) Selling expenses/Beban pemasaran 2) General and administrative expenses/beban umum dan adm

Components of the Income Statement Operating Income/Laba Operasi Operating income measures the performance of the fundamental business operations conducted by a company. Gross profit – Operating expenses = Operating income

Components of the Income Statement Other Revenues and Gains Mencakup unsur yang berkaitan dengan aktivitas sampingan perusahaan. 1) Rent revenue/pend Sewa 2) Interest revenue/Pend Bunga 3) Dividend revenue/Pend Deviden 4) Gains from the sale of assets/Keuntungan dari penjualan Harta

Components of the Income Statement Other Expenses and Losses Deductions (dikurangkan) from operating income. 1) Interest expense/Beban Bunga 2) Losses from the sale of assets/Beban kerugian dari penjualan harta

Net Income or Loss Return on Sales AT&T 14.7% 8.4% 6.2% McDonald’s 11.0% 13.9% 14.7% IBM 9.0% 9.2% 8.8% Nike 6.2% 6.4% 5.1% 2001 2000 1999 Return on Sales

Earnings Per Share Formula for Income from Continuing Operations Weighted average number of shares of common stock outstanding

Widely referred to as the PE ratio Earnings Per Share Price-Earnings Ratio Market value per share Earnings per share Widely referred to as the PE ratio

Laba Komprehensif Comprehensive income is angka yang digunakan untuk menunjukkan semua nilai perubahan kekayaan selama satu periode. Sebagai tambahan atas laba bersih, laba komprehensif mencakup semua unsur yang umumnya muncul dari perubahan kondisi pasar yg tidak berhubungan dengan operasi normal perusahaan

Comprehensive Income The more common adjustments made in arriving at comprehensive income are: Penyesuaian translasi mata uang asing. Keuntungan dan kerugian yang belum direalisasi atas surat berharga yg tersedia untuk dijual. Keuntungan dan kerugian yang ditangguhkan atas instrumen keuangan derivatif.

Comprehensive Income Sebagian besar perusahaan memasukkan laporan laba komprehensif sebagai bagian dari laporan ekuitas pemegang saham.

Earnings, Net Income, and Comprehensive Income Revenue Expenses Operating Income Gains Losses Earnings Cumulative Accounting Adjustment Net Income Unrecognized Holding Gains Unrecognized Foreign Exchange Changes Comprehensive Income $100 80 $ 20 3 (8) $ 15 (2) $ 13 2 1 $ 16

The Statement of Cash Flows

Sebagus apakah laporan arus kas itu ? Apakah sebuah laporan arus kas menceritakan hal yg belum diketahui dari neraca dan laporan rugi laba ?

What Good Is a Cash Flow Statement? Ya karena ada situasi dimana laba tidak dapat memberikan gambaran yg jelas atas kinerja perusahaan ?

What Good Is a Cash Flow Statement? Sehingga laporan arus kas menjadi instrumen penting dalam penilain laba Begitu juga hal-hal lain yg berhubungan dengan laporan keuangan akan ada di laporan arus kas Laporan arus kas menjelaskan perubahan pada kas atau setara kas dalam periode tertentu

Structure of the Cash Flow Statement Dapat segera ditukar dengan kas ketika diperlukan dan sangat dekat dengan masa jatuh temponya sehingga kecil resiko terjadinya perubahan nilai akibat perubahan tingkat suku bunga Investasi jangka pendek yg sangat likuid . Apakah maksud setara kas ? 3 2

Structure of the Cash Flow Statement Cash Inflows CASH INFLOWS Operating Activities Investing Financing 35

Cash Flow Patterns Aktivitas operasi—Transaksi-transaksi dan kejadian-kejadian yg akan menentukan laba bersih. Activitas Investasi—Transactions and events that involve the purchase and sale of securities, property, plant, equipment, and other assets not generally held for resale, and serta memberi dan menagih pinjaman Financing Activities—Transactions and events dimana kas diperoleh dan dibayarkan kembali kepada pemilik dan kreditor. 6 5

Pola Arus Kas Over the Life of a Company Start-up, High-Growth Company/PT baru yang sedang tumbuh pesat Investing Operating Financing

Cash Flow Patterns Over the Life of a Company Steady-State Company/PT yg sedang mempertahan kan posisi Investing Financing Dividends Operating

Cash Flow Patterns Cash Cow/PT yg sudah Mapan Investing Financing Over the Life of a Company Cash Cow/PT yg sudah Mapan Investing Loan Repayment Financing Share Repurchases Dividends Operating

Noncash Transactions Investing and financing activities that do not affect cash. Significant transactions should be disclosed separately. These transactions do not affect the statement of cash flows. 19 13

Reporting Cash Flows from Operations Direct Method—A method of reporting net cash flows from operations that shows cash receipts and payments for a period of time. This method is more straight forward. Indirect Method—A method of reporting net cash flow from operations that involves reconciling net income to a cash basis. It shows how noncash flows affect net income. 20 14

The Direct Method This method reports directly the major classes of operating cash receipts and payments of an entity during a period. Accrual-basis revenues and expenses must be converted to equivalent cash receipts and payments. The amount of cash actually collected or paid is determined. 33 21

Indirect Method The indirect method makes the following adjustments: Adjustments for receivables and other current operating assets. Adjustments for payables and other current liabilities. Adjustments for depreciation and other noncash items. Adjustments for gains and losses. 21 15

Operating Activities Cash Inflow Cash Outflow Cash receipt of sales Collection of receivables Interest revenue Dividend revenue Cash Outflow Inventory payments Interest payments Wages Utilities Rent 13 7

Relationship Between Net Income and Operating Cash Flow Business dalam aktivitas operasi Kas diterima dan dikeluarkan Arus kas operasi Gunakan aturan akuntansi akrual Hilangkan akrual untuk mendapatkan arus kas Laba bersih 16

Example of Operating Activities Section for the Direct Method Sales and Cash Collected from Customers: Beginning accounts receivable $ 40 + Sales 150 = Cash available for collection $190 – Ending accounts receivable 60 = Cash Collected from Customers $130 64 37

Example of Operating Activities Section for the Direct Method Cost of Goods Sold and Cash Paid for Inventory: Ending inventory $ 75 + Cost of goods sold 80 = Required inventory $155 – Beginning inventory 100 = Cash paid for inventory this year $ 55

Example of Operating Activities Section for the Direct Method Wages Expense and Cash Paid for Wages: Beginning wages payable $ 7 + Wages expense 25 = Total obligation to employee $32 – Ending wages payable 10 = Cash paid for wages $22

Adjustments for Gains and Losses Gains or losses do not represent the cash effect of the transaction. Adjustment to Account Net Income Losses Gains These adjustments are made to net income since the sale of an investment is an investing activity, not an operating activity. 32 20

Adjustments for Receivables Changes in accounts directly affect revenues recorded on an accrual basis. Account Adjustment to Account Change Net Income Accounts Receivable Inventory 25 17

Adjustments for Payables Changes in liabilities mean the reverse of changes in current operating asset accounts. Account Adjustment to Account Change Net Income Accounts Payable Wages Payable 28 18

Noncash Adjustments Depreciation and similar noncash items do not affect cash and are not reported on the statement of cash flows. Any noncash item that reduces net income should be added back to net income in the indirect method. Any noncash item that increases net income should be subtracted from net income in the indirect method. 29 19

Investing Activities Cash Inflow Cash Outflow Sale of plant assets Sale of securities, other than trading securities Collection of principal on loans Cash Outflow Purchase of plant assets Purchase of securities, other than trading securities Making of loans with other entities 15 9

Financing Activities Cash Inflow Cash Outflow Issuance of own stock Borrowings Cash Outflow Dividend payments Repaying principal on borrowing Treasury Stock purchase 17 11

Differences between Income and Cash from Operations Cash from Net Company Name Operations Income Difference General Motors $19,750 $ 4,452 $(15,298 ) Lehman Brothers (14,733 ) 1,775 16,508 Ford Motors 33,764 3,467 (30,297 ) Citigroup 2,673 13,519 10,846 Year 2000 (All amounts are in millions) SOURCE: Standard and Poor COMPUTSTAT

General Format of a Statement of Cash Flows Cash Provided by (Used for): Operating Activities $XXX Investing Activities XXX Financing Activities XXX Net Increase (Decrease) in Cash $XXX Cash—Beginning of Year XXX Cash—End of Year $XXX 12 6

Preparing a Cash Flow Statement 1. Compute how much the cash balance changed during the year. 2. Convert the income statement from an accrual-basis to a cash-basis summary of operations. a. Eliminate expenses that do not involve the outflow of cash, such as depreciation. b. Eliminate gains and losses associated with investing or financing activities. c. Adjust for changes in the balances of current assets and current liabilities. 49 22

Preparing a Cash Flow Statement 3. Analyze the long-term assets to identify the cash flow effects of investing activities. 4. Analyze the long-term debt and stockholders’ equity account to determine the cash flow effects of any financing transactions. 5. Make sure that the total new cash flow from operating, investing, and financing activities is equal to the net increase or decrease in cash as computed in Step 1, then prepare a formal statement. 6. Prepare supplement disclosure of significant noncash transactions.

Example: Comparative Balance Sheet 2005 2004 Assets Cash and Cash Equivalents Accounts Receivable Inventory Equipment Accumulated Depreciation Total Assets $ 82 180 170 200 (72) $560 $ 40 150 200 140 (60) $470 Liabilities and Equity Accounts Payable Long-term Notes Payable Common Stock Retained Earnings Total Liabilities and Equity $100 100 250 110 $560 $ 80 50 250 90 $470 50 23

Income Statement, 2005 Sales Expenses: Cost of goods sold Selling and general expense Depreciation Interest expense Operating income Gain from sale of equipment Income before income taxes Income tax expense Net income $345 $120 58 20 2 (200 ) $145 5 $140 30 $110 51 24

Step 1 Determine change in cash and cash equivalents: 53 26

(t-account or work sheet entry) Step 2 Convert from an accrual-basis to a cash-basis summary of operations: EXAMPLE: Eliminate depreciation expense, $44, because it does not require the use of cash. Cash provided by operations 44 Accumulated Depreciation 44 (t-account or work sheet entry)

Add back $5 to cash provided by operations. Step 2 Convert from an accrual-basis to a cash-basis summary of operations: EXAMPLE: Eliminate the $5 gain from selling equipment. Cash 33 Accumulated Depreciation 32 Equipment 60 Gain on Sale of Equipment 5 Add back $5 to cash provided by operations.

Step 3 Analyze the long-term assets to identify the ash flow effects of investing activities. Expenditures for Property, Plant, and Equipment: Beginning equipment $140 – Equipment sold during the year 60 = 80 – Ending equipment 200 = Expenditures for equipment during year $ 120

Step 4 Analyze the long-term debt and stockholders’ equity accounts to determine the cash flow effects of any financing transactions: Expenditures for Long-Term Debt: Beginning L-T Notes Payable balance $ 50 – Notes reacquired during the year 0 = 50 – Ending L-T Notes Payable balance 100 = L-T Notes Payable issued during year 50

Step 4 Analyze the long-term debt and stockholders’ equity accounts to determine the cash flow effects of any financing transactions: Payment of Dividends: Beginning Retained Earnings balance $ 90 + Net income 110 = 200 – Ending Retained Earnings balance 110 = Dividends paid 90

Steps 5 and 6 Steps 5 and 6 relate to actually preparing the formal and supplementary statements.

Operating Activities Section: Indirect Method Cash Flows from Operating Activities: Net income $110 Adjustments: Depreciation expense 44 Gain on sale of equipment (5 ) Increase in accounts receivable (30 ) Decrease in inventory 30 Increase in accounts payable 20 Net Cash Provided by Operating Activities $169 Continued 61 34

Operating Activities Section: Direct Method 43 Cash Flows from Operating Activities: Cash Collected from Customers $414 Cash Payments for: Inventory (155 ) Selling & General Expenses (58 ) Interest (2 ) Income Taxes (30 ) (245 ) Net Cash Provided by Operating Activities $169 Continued 68 41

Operating Activities Section: Direct Method The investing and financing sections are the same whether the direct or indirect approach is used.

Investing and Financing Activities Sections Cash Flows from Investing Activities: Proceeds from sale of equipment $ 33 Purchase of equipment (120 ) Net cash provided by investing activities (87 ) Cash Flows from Financing Activities: Issuance of long-term notes payable 50 Payment of cash dividends (90 ) Net cash used for financing activities (40 ) Net increase in cash 42 Cash, January 1, 2005 40 Cash, December 31, 2005 82

Investing and Financing Activities Sections Cash Flows from Investing Activities: Proceeds from sale of equipment $ 33 Purchase of equipment (120 ) Net cash provided by investing activities (87 ) Cash Flows from Financing Activities: Issuance of long-term notes payable 50 Payment of cash dividends (90 ) Net cash used for financing activities (40 ) Net increase in cash 42 Cash, January 1, 2005 40 Cash, December 31, 2005 82

Assessing Financial Strength Financial strength is a function of— Liquidity Profitability Growth potential Risk

Assessing Financial Strength Cash flow-to-net income Cash from operations Net income Measure of earnings quality Tends to be greater than 1 Should remain fairly stable for the years for a specific company

Assessing Financial Strength Cash flow adequacy Cash from operations Net income Measures relationship between investment spending and cash generated by operations Indicate a company’s attitude towards reinvestment in long-lived production assets When ratio is small it indicates that cash flows from operations fall short of funding growth

Assessing Financial Strength Cash times interest earned Cash from operations + Interest paid + Taxes paid Interest expense Measures ability to service debt Generally, a higher ratio indicates more solvency

Forecasted Statement of Cash Flows Six Steps 1. Compute the change in cash. 2. Convert the income statement from an accrual to cash basis. 3. Analyze the long-term asset accounts. 4. Analyze the long-term debt and stockholders’ equity. 5. Prepare the forecasted statement of cash flows. 6. Disclose noncash activities.

The End