MKU2-6

1. 1_URL:
https://scholar.google.com/citations?user=EFBaeOsAAAAJ&hl=en&oi=ao
2_gen.lib.rus.ec:
http://libgen.rs/search.php?req=principles+of+managerial+finance&open=0
&res=25&view=simple&phrase=1&column=title
3_Slideshare:
https://www2.slideshare.net/search/slideshow?searchfrom=header&q=amin
ullah+assagaf+&ud=any&ft=all&lang=**&sort=
4_Youtube_
https://www.youtube.com/channel/UC26u-Ys3fjKlcJAACrsnAeQ/videos
MANAJEMEN KEUANGAN 2
P6_5 April 2021
Dosen: Prof. Dr. Dr. H. Aminullah Assagaf, SE., MS., MM., M.Ak
HP: 08113543409, Email: assagaf29@yahoo.com

3. REFERENCE
Principles of Managerial Finance
13th edition, Pearson, Addison Wesley
Publishing Company. 2012
by : Gitman, Lawrence J. and Zutter,
Chad J.

4. MANAJEMEN KEUANGAN
Bahan bacaan:
1. Financial Management
Theory and Practice
Eugene F. Brigham & Michael C. Ehrhardt
2. Manajemen Keuangan
Teori dan Aplikasi
Agus Sartono

5. Materi Pertemuan 1 s 4
1 1. THE ROLE AND ENVIRONMENT OF MANAGERIAL FINANCE
2. Finance and Business
3. The Managerial Finance Function
4. Goal of the Firm
5. Financial Institutions and Market
6. Business Taxes
2 1. INTEREST RATES AND BOND VALUATION
2. Interest rates and required returns
3. Corporate Bonds
4. Valuation Fundamentals
5. Bond Valuation
3 1. STOCK VALUATION
2. Differences between Debt and Equity Capital
3. Common and Preferred Stock
4. Common Stock Valuation
4 1. STOCK VALUATION
2. Common Stock Valuation
3. Decision Making and Common Stock Value

6. Pertemuan 5 sd 8
5 1. CAPITAL BUDGETING CASH FLOWS
2. The Capital Budgeting Decision Process
3. The Relevant Cash Flows
4. Finding the Initial Investment
5. Finding the Operating Cash Inflows
6. Finding the Terminal Cash Flow
7. Summarizing the Relevant Cash Flows
6 1. CAPITAL BUDGETING TECHNIQUES
2. Overview of Capital Budgeting Techniques
3. Payback period
4. Net Present Value (NPV)
7 1. REVIEW
8 1. U T S

7. Pertemuan 9 sd 15
9 1. CAPITAL BUDGETING TECHNIQUES
2. Internal Rate of Return (IRR)
3. Comparing NPV and IRR Techniques
10 1. THE COST OF CAPITAL
2. An Overview of the Cost of Capital
3. The Cost of Long-term Debt
4. The Cost of Preferred Stock
5. The Cost of Common Stock
11 1. THE COST OF CAPITAL
2. The Cost of Common Stock
3. The Weighted Average Cost of Capital
4. The Marginal Cost & Investment Decisions
12 1. LEVERAGE & CAPITAL STRUCTURE
2. Leverage
3. The Firm's Capital Structure
4. The EBIT_EPS Approach to Capital Structure
13 1. LEVERAGE & CAPITAL STRUCTURE
2. The EBIT_EPS Approach to Capital Structure
3. Choosing the Optimal Capital Structure
14 1. REVIEW
15 1. U A S

12. Capital Budgeting Techniques
• Overview of capital budgeting techniques
• Payback period (PP)
• Net present value (NPV)
• Internal rate of return (IRR)
• Covering NPV and IRR

20. A: CO/CI= 42000/14000= 3 th
B (CI:1,2)= 28000+12000=40.000
CO ………………………: 45.000
Sisa utk Th 3m negative : 5.000
CI: 3:10.000
Sisa th 3 : 5000/10000= ½ th
PP = 2.4 th
 yg disetujui PP=2.75 th
 A diterima (2.5 th), B ditolak (3)

21. Catatan: Investasi 20.000: Receive 4.000 dan 6.000, tax 25%
- Rec. after tax: 0.75x4000=3000, dan 0.75x6000=4500
- PP: 20000/3000=6.67 years dan 20000/4500=4.44 years

23. Project X:
CO =10.000
CI-1 = 5.000
Sisa-1=5.000
CI-2 = 5.000
Sisa = 0
PP = 2th
Project Y:
CO =10.000
CI-1 = 3.000
Sisa-1=7.000
CI-2 = 4.000
Sisa = 3.000
CI-3 =3.000
Sisa = 0
PP = 3th

28. Proyek A
10%
Th CI CO DF PVCI PNCO NPV
1 2 3 4 5=2x4 6=3x4 7=5-6
0 42,000 1.000 - 42,000 -42,000
1 14,000 0.909 12,727 - 12,727
2 14,000 0.826 11,570 - 11,570
3 14,000 0.751 10,518 - 10,518
4 14,000 0.683 9,562 - 9,562
5 14,000 0.621 8,693 - 8,693
70,000 42,000 - 53,071 42,000 11,071
B/C ratio atau PI =PVCI/PVCO= 1.26
Proyek B
10%
Th CI CO DF PVCI PNCO NPV
1 2 3 4 5=2x4 6=3x4 7=5-6
0 45,000 1.000 - 45,000 -45,000
1 28,000 0.909 25,455 - 25,455
2 12,000 0.826 9,917 - 9,917
3 10,000 0.751 7,513 - 7,513
4 10,000 0.683 6,830 - 6,830
5 10,000 0.621 6,209 - 6,209
70,000 45,000 - 55,924 45,000 10,924
B/C ratio atau PI =PVCI/PVCO= 1.24

32. Economic value added (EVA): Cash inflow – (COC x CO)
EVA = 120.000 – 100.000 (10% x 1.000.000 = 20.000

34. Proyek A
IRR==> 19.9%
Th CI CO DF PVCI PNCO NPV
1 2 3 4 5=2x4 6=3x4 7=5-6
0 42,000 1.000 - 42,000 -42,000
1 14,000 0.834 11,681 - 11,681
2 14,000 0.696 9,745 - 9,745
3 14,000 0.581 8,131 - 8,131
4 14,000 0.485 6,784 - 6,784
5 14,000 0.404 5,660 - 5,660
70,000 42,000 - 42,000 42,000 0
B/C ratio atau PI =PVCI/PVCO= 1.00
Proyek B
IRR ==> 21.7%
Th CI CO DF PVCI PNCO NPV
1 2 3 4 5=2x4 6=3x4 7=5-6
0 45,000 1.000 - 45,000 -45,000
1 28,000 0.822 23,017 - 23,017
2 12,000 0.676 8,109 - 8,109
3 10,000 0.555 5,555 - 5,555
4 10,000 0.457 4,566 - 4,566
5 10,000 0.375 3,754 - 3,754
70,000 45,000 - 45,000 45,000 0
B/C ratio atau PI =PVCI/PVCO= 1.00

44. Pertemuan 5 sd 8
5 1. CAPITAL BUDGETING CASH FLOWS
2. The Capital Budgeting Decision Process
3. The Relevant Cash Flows
4. Finding the Initial Investment
5. Finding the Operating Cash Inflows
6. Finding the Terminal Cash Flow
7. Summarizing the Relevant Cash Flows
6 1. CAPITAL BUDGETING TECHNIQUES
2. Overview of Capital Budgeting Techniques
3. Payback period
4. Net Present Value (NPV)
7 1. REVIEW
8 1. U T S

46. Capital Budgeting Cash Flow
1. The capital budgeting decision process
2. The relevant cash flows
3. Finding the initian investment
4. Finding the operating cash flows
5. Finding the terminal cash flow
6. Summary the relevant cash flows

47. The capital budgeting decision process

48. Cash Flow Components

49. The relevant cash flows

51. Finding the initian investment

53. Finding the operating cash flows

54. Finding the terminal cash flow

55. Summary the relevant cash flows