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Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
Manajemen keuangan.lecture 1 min
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Manajemen keuangan.lecture 1 min

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  • 1. ManajemenKeuangan
    Ario, SST, SE Akt, MIEF
  • 2. Overview (Diujikan)
    Part 1: The Scope And Environment Of Financial Management
    Definition of financial management
    Understanding Financial Statements, Taxes, and Cash Flows
    Evaluating a Firm's Financial Performance
    Financial Forecasting, Planning, and Budgeting
    Part 2: Valuation Of Financial Assets
    The Value of Money
    Risk and Rates of Return
    Valuation and Characteristics of Bonds
    Stock Valuation
    Part 3: Investment In Long-term Assets
    Capital Budgeting Decision Criteria
    Cash Flows and Other Topics in Capital Budgeting
    Capital Budgeting and Risk Analysis
    Cost of Capital
    Managing for Shareholder Value
  • 3. Overview (TidakDiujikan)
    Part 4: Capital Structure And Dividend Policy
    Raising Capital in the Financial Markets
    Analysis and Impact of Leverage
    Planning the Firm's Financing Mix
    Dividend Policy and Internal Financing
    Part 5: Working-capital Management And Special Topics In Finance
    Working-Capital Management and Short-Term Financing
    Cash and Marketable Securities Management
    Accounts Receivable and Inventory Management
    Part 6: Special Topics In Finance
    Risk Management
    International Business Finance
    Corporate Restructuring: Combinations and Divestitures
    Term Loans and Leases
  • 4. Chapter 1
    What Is Finance?
    • Financial management is concerned with the maintenance and creation of economic value or wealth
    Goal Of The Firm
    • maximization of shareholder wealth Vs. profit maximization
    • 5. weaknesses of profit maximization (Kk, time, risk)
    Legal Forms Of Business Organization
    • sole proprietorship
    • 6. Partnership
    • 7. corporation
    Ten Principles That Form The Basics Of Financial Management
    Finance And The Multinational Firm: The New Role
    • forced to look beyond our country's borders
  • Ten Principles
    PRINCIPLE 1: The Risk-Return Trade-Off-We won't take on additional risk unless we expect to be compensated with additional return
    PRINCIPLE 2: The Time Value of Money-A dollar received today is worth more than a dollar received in the future
    PRINCIPLE 3: Cash-Not Profits-Is King
    PRINCIPLE 4: Incremental Cash Flows-It's only what changes that counts
    PRINCIPLE 5: The Curse of Competitive Markets-Why it's hard to find exceptionally profitable projects
    PRINCIPLE 6: Efficient Capital Markets-The markets are quick and the prices are right
    PRINCIPLE 7: The Agency Problem-Managers won't work for owners unless it's in their best interest
    PRINCIPLE 8: Taxes Bias Business Decisions
    PRINCIPLE 9: All Risk Is Not Equal-Some risk can be diversified away, and some cannot
    PRINCIPLE 10: Ethical behavior is doing the right thing, and ethical dilemmas are everywhere in finance
  • 8. Chapter 2
    The Income Statement: Measuring A Company's Profits
    • Revenues -> COGS -> gross profit -> operating expenses -> EBIT -> financing costs (excluding C/S dividend) -> EBT -> Tax Expenses -> Net Income
    The Balance Sheet: Measuring A Firm's Book Value
    • Current asset or liabilities
    • 9. Non-current asset or liabilities
    • 10. Net working capital
    • 11. Sources of financing
    Computing A Company's Taxes
    • taxable incomes & deductible expenses
    • 12. marginal tax rates and average tax rate
    Measuring Free Cash Flows
    • An Asset Perspective: EBITDA - ∆ LT Assets - ∆ Net Operating Working Capital
    • 13. Financing Perspective:
    Financial Statements And International Finance
  • 14. Chapter 3
    Financial Ratio Analysis (Brealey)
    • Common-size income statement (percentage of revenue) and common-size balance sheet (percentage of total asset)
    • 15. Leverage ratios
    • 16. Debt Ratio
    • 17. Times Interest Earned Ratio
    • 18. Cash Coverage Ratio
    • 19. Liquidity Ratios
    • 20. Quick (or Acid-Test) Ratio
    • 21. Current Ratio
    • 22. Net Working Capital to Total Assets Ratio
    • 23. Efficiency Ratios
    • 24. Asset Turnover Ratio
    • 25. Average Collection Period
    • 26. Inventory Turnover Ratio
    • 27. Profitability Ratios
    • 28. Net Profit Margin
    • 29. Return on Assets (ROA)
    • 30. Return on Equity (ROE)
    • 31. Payout Ratio
  • Chapter 3
    Financial Ratios (Keown):
    Firm liquidity
    Operating profitability
    Financing decisions
    ROE
    Dupont Analysis
    Limitations of ratio analysis
    Difficult to identify the industry group to which a firm belongs
    Published industry averages are only approximations
    Accounting practices differ widely among firms
    Industry average may not a target ratio
    Many firms experience seasonality in their operation
  • 32. Chapter 3 (cont’d)
    The DuPont Analysis: An Integrative Approach to Ratio Analysis
    “A breakdown of ROE and ROA into component ratios”
  • 33. Chapter 4
    Financial Forecasting
    Is used to estimate a firm’s future financial needs.
    Steps:
    Forecast the firm’s sales revenues & expenses over planning period
    Estimate the level of investment in current & fixed assets necessary to support the forecasted sales (using Percent of Sales Method)
    Determine the firm’s financing needs (Spontaneous and Discretionary Sources of Financing)
    The Discretionary Financing Needed (DFN)
    DFNt+1 = Projected ∆ in assets t+1 - Projected ∆ in liabilities t+1 - Projected ∆ in
    owners’ equity t+1
    Projected ∆ in owners’ equity t+1 = [Net Profit Margin t+1 × sales t+1 ] × (1-b)
  • 34. Chapter 4 (cont’d)
    Limitations of the Percent of Sales Forecast Method
    Pitfalls:
    only a rough approximation and is not very detailed
    Economies of scale
    lumpy assets
    The Sustainable Rate of Growth(the maximum growth rate of sales that the firm can sustain whle maintaining its present capital structure dan without having to sell new C/S)
    Financial Planning and Budgeting
    Budget functions:
    Amount and timing of the firm’s need for future financing
    Basis for corrective action
    Performance evaluation
    Cash budget: a detailed plan of future cash receipt and disbursements
  • 35. Projected B/S and I/S
  • 36. Chapter 4 (cont’d)

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