TESIS MANAJEMEN, 2008

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Analisis laporan keuangan PT Indofood Sukses makmur Tbk dengan menggunakan metode EVA dan rasio keuangan untuk tahun 2008 - 2007

Lilian Isabella Wardhana

Abstract


Currently standard accounting used to measures and other financial accounting ratios to determine the financial capability of prospective company. While the standard accounting ratios and measures have performed adequately, it is possible that improved measures, such as Economic Value Added, may exist. This thesis provides some evidence, based on statistical tests using EVAdata and financial ratio data for the years 2007 and 2008, on the potential value of EVA as an information item. Specifically, this study determined that EVA was unique and distinct from traditional accounting ratios and that past EVA is an effective predictor of future company value added. PT Indofood Sukses Makmur Tbk. has positive EVA in 2008 amounting IDR 19.826.065.233.500, while in 2007 they have negative EVA amounting (IDR 6.327.111.500.600). the increasing of the EVA was caused by the Indofood capability to raise the sales and succeed in cost efficiency. Although Indofood succeed to raise their EVA but there was a decreasing liquidity performance which was caused by the increasing short term debt accounting IDR 3.566.070.000.000 (37.91%) compared to 2007. Profitability ratio was increasing as shown in ROE and ROA PT Indofood 0.83% and 0.2% which related to the increasing sales IDR 10.940.975.000.000 (39.27%) compared to 2007. Economics Value Added (EVA) is the use Residual Income the idea develops one financial achievements weight target, is different with generally recognizes accountant the principle by creditor’s angle establishment finance report from, EVA is looks at the company by the shareholders value view point the management achievement. The comparison finance ratio analysis and EVA use in effect of the enterprise finance crisis forecast. Conclusion of this research as follows: First, by the case study resuilt, the EVA appraisal method may take early warning signal the document corporate finance crisis. Second, the earnings compares by EVA and accountant, EVA can comparatively early respond the company manages the bad question, that is its financial crisis forewarns the effect to compare accountant the earnings to be goos. Third, by sole or the sole category finance ratio appraisal docment company whole management achievements is insufficient.

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