DAFTAR ISI Halaman PRAKATA .......................................................................................................
i
ABSTRAK .......................................................................................................
iii
ABSTRACK ....................................................................................................
iv
DAFTAR ISI ....................................................................................................
v
DAFTAR TABEL ......................................................................................... ..
viii
DAFTAR GAMBAR .................................................................................... ..
x
DAFTAR GRAFIK ..........................................................................................
xi
BAB I
BAB II
PENDAHULUAN A. Latar Belakang ........................................................................
1
B. Identifikasi dan Pembatasan Masalah ......................................
5
C. Perumusan Masalah .................................................................
6
D. Tujuan Penelitian .....................................................................
6
E. Manfaat Penelitian ...................................................................
7
F. Sistematika Penulisan ..............................................................
8
LANDASAN TEORITIS A. Going Concern Theory (Kelangsungan Usaha) .......................
10
B. Laporan Keuangan .................................................................
13
1. Pengertian Laporan Keuangan ...........................................
13
2. Tujuan Laporan Keuangan ...................................... ..........
14
3. Karakteristik Laporan Keuangan .............................. ........
16
4. Jenis dan Unsur-unsur Laporan Keuangan ...... .................
18
5. Kualitas Laporan Keuangan ...............................................
22
6. Pemakai dan Kebutuhan Laporan Keuangan ...................
24
C. AnalisisLaporan Keuangan .....................................................
26
1. Pengertian Analisis Laporan Keuangan .............................
26
2. Tujuan dan Manfaat Analisis Laporan Keuangan ..............
27
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3. Kelemahan Analisis Laporan Keuangan.............................
29
4. Metode Analisia Laporan Keuangan .................................
30
5. Teknik Analisis Laporan Keuangan ..................................
31
D. Kegagalan Usaha ....................................................................
34
1. Penyebab Kegagalan Usaha ...............................................
35
2. Manfaat Informasi Prediksi Kebangkrutan........................
37
E. Analisis Rasio Keuangan ........................................................
39
1. Pengertian Rasio Keuangan ..............................................
39
2. Jenis-jenis Rasio Keuangan ............................................ ..
41
3. Keunggulan dan Keterbatasan Analisis Rasio Keuangan
42
F. Analisis Metode Z-score Altman ............................................
43
1. Kegunaan Metode Z-score Altman ....................................
44
2. Perhitungan Metode Altman Z-score...................................
45
3. Kelebihan dan Kekurangan Metode Z-score Altman........... 49 G. Analisis Deret Berkala (Time Series Analysis) .......................
50
H. Kerangka Pikir Penelitian ........................................................
53
BAB III METODOLOGI PENELITIAN A. Tempat dan Waktu Penelitian ..................................................
54
1. Tempat Penelitian ........................................................... .
54
2. Waktu Pengumpulan Data ............................................ ...
54
B. Jenis dan Sumber Data .............................................................
54
1. Jenis Data ................................... ......................................
54
2. Sumber Data ......................................................................
55
C. Populasi dan Sampel ................................................................
55
D. Metode Pengumpulan Data ......................................................
56
1. Penelitian keperpustakaan (Library Research) .................
56
2. Riset Lapangan (Field Research) ......................................
56
E. Metode Analisis Data ...............................................................
56
F. Definisi Operasional Variabel ..................................................
57
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BAB IV GAMBARAN UMUM PERUSAHAAN
BAB V
A. Sejarah Singkat PT. Ultra Jaya Milk Industry Tbk ..................
60
1. Lingkup Bidang Usaha ......................................................
61
2. Visi, Misi dan Strategi .......................................................
64
3. Jumlah Karyawan ...............................................................
65
4. Struktur Organisasi ............................................................
66
B. Sejarah Singkat PT Mayora Indah Tbk ....................................
67
1. Bidang Usaha Perusahaan ..................................................
71
2. Divisi Merek Dagang .........................................................
73
3. Visi dan Misi Perusahaan...................................................
74
4. Struktur Organisasi ............................................................
75
HASIL PENELITIAN DAN PEMBATASAN A. Hasil Penelitian ........................................................................
76
1. Proses dan Hasil Analisis Data Variabel X ........................
76
B. Proses dan Hasil Model Analisis Altman Z-Score ..................
87
C. Prediksi Nilai Z-Score di Masa Mendatang untuk Mengetahui Kelangsungan Usaha PT Ultrajaya Milk Industry Tbk dan PT Mayora Indah Tbk .................................
95
D. Perbandingan Perhitungan Persamaan Garis Trend antara PT Ultrajaya Milk Industry Tbk dan PT Mayora Indah Tbk ... 102 BAB VI KESIMPULAN DAN SARAN A. Kesimpulan .............................................................................. 103 B. Saran ........................................................................................ 104 DAFTAR PUSTAKA
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DAFTAR TABEL Tabel 1.1
Kinerja Keuangan PT Ultrajaya Milk Industry, Tbk Tahun 2008-2012. ..................................................................................
2
Tabel 2.1
Titik Cut Off Formula Z-score Altman .......................................
48
Tabel 4.1
Produk-Produk PT Ultrajaya .......................................................
62
Tabel 4.2
Penempatan Tenaga Kerja per Bagian ........................................
66
Tabel 5.1
Working Capital Tahun 2008 – 2012..........................................
77
Tabel 5.2
Total Assets Tahun 2008 – 2012 .................................................
77
Tabel 5.3
Hasil Working Capital PT. Ultrajaya Milk Industry Tbk dan PT. Mayora Indah Tbk, Total Assets PT. Ultrajaya Milk Industry Tbk dan PT. Mayora Indah Tbk Tahun 2008 – 2012 ...
78
Tabel 5.4
Retained Earnings Tahun 2008 – 2012 ......................................
80
Tabel 5.5
Retained Earnings to Total Assets Tahun 2008 – 2012 ..............
81
Tabel 5.6
Earning Before Interest And Tax Tahun 2008 – 2012 ................
81
Tabel 5.7
Earning Before Interest and Tax to Total Assets ........................
82
Tabel 5.8
Market Value of Equity dan Total Liabilities Tahun 2008 – 2012
83
Tabel 5.9
Total Liabilities Tahun 2008 – 2012 ...........................................
84
Tabel 5.10 Market Value of Equity to Book Value of Total Liabilities .........
85
Tabel 5.11 Sales Tahun 2008 – 2012 ............................................................
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Tabel 5.12 Sales to Total Assets....................................................................
87
Tabel 5.13 Hasil Z-score Tahun 2008 ...........................................................
90
Tabel 5.14 Hasil Z-score Tahun 2009 ...........................................................
90
Tabel 5.15 Hasil Z-score Tahun 2010 ...........................................................
91
Tabel 5.16 Hasil Z-score Tahun 2011 ...........................................................
91
Tabel 5.17 Hasil Z-score Tahun 2012 ...........................................................
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Tabel 5.18 Hasil Nilai Z-Score PT Ultrajaya Milk Industry Tbk dan PT Mayora Indah Tbk Tahun 2008-2012 ...................................
92
Tabel 5.19 Prediksi Kebangkrutan Tahun 2008-2012 ..................................
93
Tabel 5.20 Perbandingan Rata-rata Industri Working Capital to Total Asset (X1) dan Reatained Earning to Total Asset (X2) ............... viii
93
Tabel 5.21 Perbandingan Rata-rata Industri Earning Before Interest and Tax (X3) dan Market Value of Equity to Book Value of Debt (X4) 94 Tabel 5.22 Perbandingan Rata-rata Industri Sales to Total Asset (X5) .........
94
Tabel 5.23 Perhitungan Persamaan Garis Trend PT Ultrajaya Milk Tbk dan PT Mayora Indah Tbk (dalam satuan angka) .......................
96
Tabel 5.24 Hasil Perhitungan Persamaan Garis Trend PT Mayora Indah Tbk (dalam satuan angka) ...........................................................
98
Tabel 5.25 Perhitungan Persamaan Garis Trend PT Mayora Indah Tbk (dalam satuan angka) ..................................................................
99
Tabel 5.26 Hasil Perhitungan Persamaan Garis Trend antara PT Ultrajaya Milk Industry Tbk dan PT Mayora Indah Tbk ............................
101
Tabel 5.27 Perbandingan Perhitungan Persamaan Garis Trend antara PT Ultrajaya Milk Industry Tbk dan PT Mayora Indah Tbk ......
ix
102
DAFTAR GAMBAR Gambar 4.1
Struktur Organisasi PT. Ultra Jaya Milk Industry Tbk ............
66
Gambar 4.2
Struktur Organisasi PT. Mayora Indah Tbk .............................
75
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DAFTAR GRAFIK Grafik 5.1
Hasil Nilai Z-score Tahun 2008-2012 ........................................
xi
92
