ABSTRACT
The purpose of this research is to analyzed how well PGAS’s financial performance based on the result of accounting analysis and financial analysis. This method of research using analythical description method, that is realized through the financial statement analysis of accounting and financial analysis. This research use PGAS’s 2004-2008 annual reports as a financial data. According to the result of the research, the conclusion is PGAS’s 2004-2008 financial performance was good.
Keywords: financial statement analysis, accounting analysis, and financial analysis.
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ABSTRAK
Tujuan dari penelitian ini adalah untuk mengetahui kinerja keuangan PT Perusahaan Gas Negara (Persero) Tbk (PGAS) untuk tahun 2004-2008 berdasarkan hasil analisis akuntansi dan analisis keuangan. Penelitian ini menggunakan metode analisis deskriptif, yaitu diwujudkan melalui analisis laporan keuangan yang terdiri atas analisis akuntansi dan analisis keuangan. Data keuangan yang digunakan dalam penelitian ini berupa annual report PGAS untuk tahun 2004-2008. Berdasarkan hasil penelitian maka dapat disimpulkan bahwa kondisi kinerja keuangan PGAS untuk tahun 2004-2008 dalam keadaan baik serta laporan keuangan PGAS telah disajikan secara tepat sesuai dengan kebijakan akuntansinya serta sesuai dengan PSAK.
Kata kunci: Analisis Laporan Keuangan, Analisis Akuntansi dan Analisis Keuangan.
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Daftar Isi Halaman Halaman Judul.................................................................................................................... i Lembar Pengesahan .......................................................................................................... ii Pernyataan Keaslian Karya Tulis Skripsi.........................................................................iii Kata Pengantar ................................................................................................................. iv Abstract ............................................................................................................................. v Abstrak ............................................................................................................................. vi Daftar Isi ......................................................................................................................... vii Daftar Tabel ..................................................................................................................... xi Daftar Gambar................................................................................................................. xii Daftar Lampiran .............................................................................................................xiii BAB I Pendahuluan ......................................................................................................... xi 1.1.
Latar Belakang ................................................................................................... 1
1.2.
Identifikasi Masalah ........................................................................................... 6
1.3.
Tujuan Penelitian................................................................................................ 6
1.4.
Kegunaan Penelitian ........................................................................................... 7
BAB II Kajian Pustaka dan Kerangka Pemikiran ............................................................. 8 2.1.
Kajian Pustaka .................................................................................................... 8
2.1.1.
Laporan Keuangan ...................................................................................... 8
2.1.1.1.
Definisi Laporan Keuangan ................................................................ 8
2.1.1.2.
Tujuan Laporan Keuangan .................................................................. 9
2.1.1.3.
Pengguna Laporan Keuangan ............................................................ 10
2.1.1.4.
Asumsi Dasar Laporan Keuangan ..................................................... 11
2.1.1.5.
Karakteristik Kualitatif Laporan Keuangan ...................................... 13
2.1.1.6.
Komponen Laporan Keuangan .......................................................... 14 vii
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2.1.1.6.1. Neraca......................................................................................14 2.1.1.6.2. Laporan Laba Rugi..................................................................17 2.1.1.6.3. Laporan Perubahan Ekuitas.....................................................20 2.1.1.6.4. Laporan Arus Kas....................................................................21 2.1.1.6.5. Catatan Atas Laporan Keuangan.............................................22 2.1.2.
2.2.
Analisis Laporan Keuangan ...................................................................... 23
2.1.2.1.
Definisi Analisis Laporan Keuangan ................................................. 23
2.1.2.2.
Tujuan Analisis Laporan Keuangan .................................................. 24
2.1.2.3.
Manfaat Analisis Laporan Keuangan ................................................ 25
2.1.2.4.
Analisis Akuntansi ............................................................................. 25
2.1.2.5.
Analisis Keuangan ............................................................................. 27
2.1.2.6
Alat Analisis Laporan Keuangan........................................................28
Kerangka Pemikiran ......................................................................................... 33
BAB III Objek dan Metode Penelitian ............................................................................ 34 3.1.
Objek Penelitian ............................................................................................... 34
3.1.1.
Sejarah Singkat Perusahaan ...................................................................... 34
3.1.2.
Visi dan Misi ............................................................................................. 35
3.1.2.1. Visi ......................................................................................................... 35 3.1.2.2. Misi ........................................................................................................ 35 3.1.3.
Struktur Organisasi ................................................................................... 36
3.1.4.
Bidang Usaha ............................................................................................ 36
3.1.5.
Anak Perusahaan.......................................................................................39
3.2.
Metode Penelitian ............................................................................................. 40
3.2.1. Metode Penelitian .......................................................................................... 40 3.2.2. Teknik Pengumpulan Data ............................................................................ 42 BAB IV Hasil Penelitian dan Pembahasan .................................................................... 44 viii
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4.1.
Analisis Akuntansi ........................................................................................... 44
4.1.1.
Analisis Aktivitas Operasi ........................................................................ 46
4.1.1.1.
Pendapatan Usaha .............................................................................. 46
4.1.1.2.
Beban Usaha ...................................................................................... 48
4.1.1.3.
Laba ................................................................................................... 51
4.1.2.
Analisis Aktivitas Investasi ....................................................................... 53
4.2.1.1.
Aset Lancar ........................................................................................ 54
4.2.1.1.1. Kas .................................................................................................. 55 4.2.1.1.2. Investasi Jangka Pendek ................................................................. 56 4.2.1.1.3. Piutang Usaha Bersih ...................................................................... 59 4.2.1.1.4. Persediaan ....................................................................................... 60 4.2.1.2.
Aset Tidak Lancar.............................................................................. 62
4.2.1.2.1. Aset Derivatif.................................................................................. 63 4.1.3.
Analisis Aktivitas Pendanaan.................................................................... 63
4.1.3.1.
Kewajiban .......................................................................................... 63
4.1.3.1.1. Kewajiban Lancar ........................................................................... 63 4.1.3.1.2. Kewajiban Tidak Lancar ................................................................. 65 4.1.3.2. 4.2.
Ekuitas ............................................................................................... 81
Analisis Keuangan ............................................................................................ 84
4.2.1.
Analisis Laporan Keuangan Comparative dan Common-size.................. 84
4.2.2.
Analisis Rasio ........................................................................................... 92
4.2.2.1.
Analisis Likuiditas ............................................................................. 92
4.2.2.2.
Analisis Struktur Modal dan Solvabilitas .......................................... 93
4.2.2.3.
Analisis Profitabilitas......................................................................... 95
4.2.2.4.
Analisis Pemanfaatan Aktiva ........................................................... 101
4.2.3.
Analisis Sumber dan Penggunaan Dana ................................................. 104 ix
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BAB V Simpulan dan Saran ........................................................................................ 111 5.1.
Simpulan......................................................................................................... 111
5.2.
Saran ............................................................................................................... 112
Daftar Riwayat Hidup Lampiran
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Daftar Tabel Halaman Tabel 1 Kebijakan Akuntansi .........................................................................................45 Tabel 2 Ikhtisar Pendapatan Usaha PGAS .....................................................................47 Tabel 3 Jumlah Kas dan Setara Kas ...............................................................................56 Tabel 4 Jumlah Investasi Jangka Pendek .......................................................................56 Tabel 5 Piutang Usaha Bersih ........................................................................................59 Tabel 6 Penyisihan Piutang Tak Tertagih ......................................................................60 Tabel 7 Persentase Persediaan Terhadap Aktiva Lancar dan Total Aktiva ...................61 Tabel 8 Analisis Umur Hutang Usaha ............................................................................64 Tabel 9 Analisis Hutang Pajak .......................................................................................64 Tabel 10 Analisis Pinjaman Jangka Panjang ..................................................................65 Tabel 11 Kebijakan Dividen ...........................................................................................82 Tabel 12 Neraca (comparative analysis and common size) ...........................................84 Tabel 13 Laporan Laba Rugi (comparative analysis and common size) ........................87 Tabel 14 Laporan Arus Kas (comparative analysis and common size) .........................88 Tabel 15 Analisis Likuiditas ..........................................................................................92 Tabel 16 Analisis Struktur Modal dan Solvabilitas .......................................................93 Tabel 17 Analisis Profitabilitas ......................................................................................95 Tabel 18 Rasio Kinerja Operasi .....................................................................................99 Tabel 19 Analisis Pemanfaatan Aktiva ........................................................................101 Tabel 20 Rasio Kecukupan Kas ...................................................................................107 Tabel 21 Rasio Reinvestasi Kembali ............................................................................108
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Daftar Gambar Halaman Gambar 1.1 Konsumsi Energi di Indonesia ......................................................................1 Gambar 1.2 Pangsa Pasar PGAS di Indonesia .................................................................2 Gambar 1.3 Volume Operasi, Jumlah Pelanggan dan Panjang Jaringan PGAS ..............3 Gambar 2.1 Kerangka Pemikiran ...................................................................................33 Gambar 3.1 Struktur Organisasi .....................................................................................36 Gambar 4.1 Diagram Pertumbuhan Laba Usaha dan Laba Bersih .................................53 Gambar 4.2 Komposisi Arus Kas .................................................................................110
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Daftar Lampiran
Lampiran A: Perhitungan Rasio Lampiran B: Laporan Keuangan PGAS tahun 2004 Lampiran C: Laporan Keuangan PGAS tahun 2005 Lampiran D: Laporan Keuangan PGAS tahun 2006 Lampiran E: Laporan Keuangan PGAS tahun 2007 Lampiran F: Laporan Keuangan PGAS tahun 2008
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