ANALYSIS OF CASH FLOW INFORMATION IN ASSESSING PERFORMANCE OF FINANCIAL IN PT. PERKEBUNAN NUSANTARA (PTPN III)

ANALYSIS OF CASH FLOW INFORMATION IN ASSESSING PERFORMANCE OF FINANCIAL IN PT. PERKEBUNAN NUSANTARA (PTPN III)

Rofinol Dewanto 

Department of Accounting 
Islamic University of North Sumatra 
Medan, North Sumatra 

ABSTRACT

The requirement for companies to include a statement of cash flows in the financial statements, it making use of cash flow information as a tool of analysis of corporate performance is increasingly important. One analysis of financial performance by using cash flow statement is the ratio of cash flow statement. Analysis of cash flow statements, balance sheets and components aebagai income statement ratio analysis. The purpose of the research in this thesis is to investigate and assess the company's liquidity and financial flexibility as measured by using an analysis of cash flow information in the form of ratios and reveals the role of cash flow information in measuring financial performance in PTPN III Medan.

From the results of research in this thesis, the author make a opinion that the level of financial liquidity PTPN III seen from the analysis of cash flow liquidity ratio for 2009 decreased when compared to the year 2008.

Keywords: Analysis, Cashflow Statement , Cashflow Liquidity Ratio, Flexibility Cashflow Ratio

INTRODUCTION

Move 1:

Cash flow statement presented to supplement the information gap that is not contained in other information. Statement of cash flows play a complementary role for the balance sheet and income statement in the full elaboration of the asset and financial structure of firms. 
Move 2:

·         Stice and Skousen (2005: 495) Defining the cash is "the most liquid current assets and consists of parts that act as a medium of exchange and provide the basis for the calculation of accounting"

·         Henry Simamora (2001: 488), "The cash flows are reports that show the effects of operating activities, investing and financing cash flows for the company's accounting period in a way to reconcile beginning and ending balances of cash".

·         Horngren (2003: 845), The cash flow is designed to estimate the cash flows of cash flows in the future.

Move 3:

The understanding and definition of this can be seen that the cash flow statement is one component of the financial statements that reveal mutations of cash in and cash out on operating activities, investing, and financing for a certain period.

Move 4:

If used with other financial statements, cash flow statement can provide information that allows the users to evaluate the changes in net assets, financial structure (including liquidity and solvency) and the ability to influence the amount and timing of cash flows in order to adapt to changing circumstances and opportunities. Cash flow information is useful to assess the company's ability to generate cash and cash equivalents in allowing the users to develop models to assess and compare the present value of future cash flows from various companies.

METHOD

Which is the object of research is PT. Perkebunan Nusantara III, is located at Jl. Sei Batang Hari, No. 2 Medan. While the study began in January until May of 2010.

Type of data collected by the author during the study were divided over the modern day primary data and secondary data.

Authors collected data by using:

1.      Documentation Techniques

In this case the authors collected data relating to the preparation of this paper directly from the company's and from internet.

2.      Interview

In this case I do question and answer and discussion with the finance and accounting part of the company. 

In analyzing the data, the writer uses descriptive method is to collect data, compiled, interpreted, and analyzed so as to provide a clear and objective conclusion to the problems that exist.

FINDINGS

From the research results in this paper, the authors obtain a variety of reports from companies such as, balance sheet, income statement and statement of cash flows. 
And from these data the authors conclude that the level of financial liquidity PTPN III seen from the analysis of cash flow liquidity ratio for 2009 decreased when compared to the year 2008, except for the value of the funds flow coverage ratio increased by 2.98 times. While the level of financial flexibility PTPN III seen from the analysis of the flexibility ratio of cash flow for 2009 increased significantly when compared to the year 2008, the calculation of the ratio of net free cash flow increased by 46.28% and the calculation of cash flow adequacy ratio increased by -47 %.

DISCUSSIONS

From the results in this thesis can be seen that the measurements in assessing the financial performance of this company will analyze the cash flow statement PTPN III periodically for the year ended December 31 in 2008 and December 31 in 2009. Thus the results of this study the authors should be able to find out how the company's liquidity and financial flexibility in Medan PTPN III measured by using an analysis of cash flow information in the form of ratios.

CONCLUSION

From the analysis of the calculation of the ratio of cash flow flexibility in PTPN III for 2004 and for 2009 are as follows:

a)      Free Cash Flow ratio (AKBB) for 2008 of 9.82% and for 2009 of 56.10%.

b)      Cash Flow Adequacy Ratio (KAK) for 2008 of -49% and for the year 2009 amounted to 7%.

Level of financial liquidity PTPN III Medan were analyzed by calculating the ratio of the average cash flow decreased except for the value of the funds flow coverage ratio increased by 2.98%.

Suggestion 
Some suggestions to the authors provide for repair or further performance improvements in the future after analyzing the information in the form of cash flow ratios are as follows:

a)      Decrease in the amount of cash flow from normal activities due to the addition of fixed assets, long-term debt and long-term investment is relatively large. For that PTPN III should be more selective to make decisions in the addition of these things, because the company has a poor ability to pay all liabilities.

b)      In an effort to improve the performance of state-owned companies that go public, should PTPN III Field using the ratio of cash flow analysis to assess its financial performance and make its health criteria based on the calculation of the cumulative cash flow ratio.

ACKNOWLEDGEMEN

With the completion of writing of this thesis, is inseparable from the support of various parties are given to the author. So on this occasion the authors want to thank you as much as possible to: 

1.      Mr. H. Misri, SE, MSi, As Dean of the Islamic University of North Sumatra. And also as a supervisor and have taken the time to provide guidance so that this thesis can be completed properly.

2.      Mr. M. Rizal Hasibuan, SE, M.si, chairman of the accounting department.

3.      Mrs. Enny Trisna, SE, MM, as the supervisor II.

4.      The entire faculty and staff in the economics faculty UISU.

5.      The author would like to thank my father and mother who had raised me so I can be useful as a child now.

6.      And also the author’s classmates, especially the faculty of economics majors in accounting, because it has provided support to the author.

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