1 pembelanjaan perusahaan lecture 2 – net working capital
Post on 21-Dec-2015
218 views
TRANSCRIPT
11
PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN
PEMBELANJAAN PEMBELANJAAN PERUSAHAANPERUSAHAAN
LECTURE 2 – NET WORKING LECTURE 2 – NET WORKING CAPITAL CAPITAL
PP/MB-IPB/10 22
OutlineOutline
Tracing Cash and Net Working CapitalTracing Cash and Net Working Capital
The Operating Cycle and the Cash CycleThe Operating Cycle and the Cash Cycle
Some Aspects of Short-Term Financial Some Aspects of Short-Term Financial PolicyPolicy
The Cash BudgetThe Cash Budget
A Short-Term Financial PlanA Short-Term Financial Plan
PP/MB-IPB/10 33
Sources and Uses of CashSources and Uses of Cash
Balance sheet identity (rearranged)Balance sheet identity (rearranged) NWC + fixed assets = long-term debt + equityNWC + fixed assets = long-term debt + equity NWC = cash + other CA – CLNWC = cash + other CA – CL Cash = long-term debt + equity + CL – CA other than cash – Cash = long-term debt + equity + CL – CA other than cash –
fixed assetsfixed assets
SourcesSources Increasing long-term debt, equity or current liabilitiesIncreasing long-term debt, equity or current liabilities Decreasing current assets other than cash or fixed assetsDecreasing current assets other than cash or fixed assets
UsesUses Decreasing long-term debt, equity or current liabilitiesDecreasing long-term debt, equity or current liabilities Increasing current assets other than cash or fixed assetsIncreasing current assets other than cash or fixed assets
PP/MB-IPB/10 44
The Operating CycleThe Operating Cycle
Operating cycleOperating cycle – time between purchasing the – time between purchasing the inventory and collecting the cash from selling the inventory and collecting the cash from selling the inventoryinventory
Inventory periodInventory period – time required to purchase and – time required to purchase and sell the inventorysell the inventory
Accounts receivable periodAccounts receivable period – time required to – time required to collect on credit salescollect on credit sales
Operating cycleOperating cycle = inventory period + accounts = inventory period + accounts receivable periodreceivable period