CONTOH PROGRAM

TABEL INPUT ASUMSIBerikut merupakan tabel yang disediakan pada program ini untuk asumsi apa saja yang diperkirakan dalam pembangunan Usaha Jasa. Asumsi adalah cell berwarna kuning dengan tulisan (font) merah.

1 2 3 4 5 6 7 8 9 10 11 121 Tanah OK 100% 100.0%2 Bangunan OK 100% 10.0% 40.0% 40.0% 10.0%3 Kendaraan OK 100% 30.0% 70.0%4 Peralatan Kantor OK 100% 25.0% 75.0%5 Furniture OK 100% 100.0%6 Lain-lain OK 100% 100.0%

PENARIKAN DANA 1 2 3 4 5 6 7 8 9 10 11 12Pinjaman Bank 990,000,000 49,500,000 198,000,000 1,683,000,000 3,682,800,000 99,000,000 0 0 0 0 0 0Modal Sendiri 660,000,000 33,000,000 132,000,000 1,122,000,000 2,455,200,000 66,000,000 0 0 0 0 0 0Total 1,650,000,000 82,500,000 330,000,000 2,805,000,000 6,138,000,000 165,000,000 0 0 0 0 0 0

BIAYA-BIAYA PRAOPERASINo. Uraian Total 1 2 3 4 5 6 7 8 9 10 11 121 Biaya Administrasi 12,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,0002 Biaya Perizinan 1,500,000 1,500,0003 Biaya Konsultan 5,000,000 5,000,0004 Lain-lain 3,000,000 500,000 500,000 500,000 500,000 500,000 500,000

Total 21,500,000 9,000,000 2,500,000 2,500,000 2,500,000 2,500,000 2,500,000 0 0 0 0 0 0

TotalKeteranganUraianNo. BULAN

Uraian Porsi Nilai (Rp)PROPORSI PENDANAAN INVESTASIPinjaman Bank 60.0% 6,702,300,000Modal Sendiri 40.0% 4,468,200,000Total 100.0% 11,170,500,000

PENDANAAN INVESTASITingkat Bunga 18% 292,396,500Biaya Provisi 1% 67,023,000Jangka waktu Cicilan 5

PINJAMAN BARUJangka waktu Cicilan 5Biaya Bunga 12.0%

PENDANAAN MODAL KERJAUraian Porsi Biaya Bunga Biaya ProvisiPinjaman Bank 60.0% 12.0% 1.0%Modal Sendiri 40.0%Total 60.0%

Nilai Nilai Setelah(Rp) Kenaikan

1 Tanah 1,500,000,000 1,650,000,0002 Bangunan 750,000,000 825,000,0003 Kendaraan 7,500,000,000 8,250,000,0004 Peralatan Kantor 200,000,000 220,000,0005 Furniture 155,000,000 170,500,0006 Lain-lain 50,000,000 55,000,000

Total 10,155,000,000 11,170,500,000

Antisipasi kenaikan Investasi 10.0%Tahun Mulai Beroperasi 2015Tarif Pajak Perusahaan 25.0%

UraianNo.

Nilai Umur BiayaPerolehan Ekonomis Penyusutan

1 Tanah 1,650,000,0002 Bangunan 825,000,000 20 41,250,0003 Kendaraan 8,250,000,000 5 1,650,000,0004 Peralatan Kantor 220,000,000 5 44,000,0005 Furniture 170,500,000 5 34,100,0006 Lain-lain 55,000,000 5 11,000,000

Total 11,170,500,000 1,780,350,000

UraianNo.

Nilai Jk. Waktu B. Sewa/Thn(Rp) (Tahun) (Rp)

1 Sewa Kantor 25,000,000 2 12,500,0002 Sewa Kendaraan 10,000,000 4 2,500,0003 Sewa Peralatan 5,000,000 2 2,500,000

Total 40,000,000 17,500,000

UraianNo.

Uraian 2015 2016 2017 2018 2019Biaya Operasional 2,900,000,000 3,140,000,000 3,404,000,000 3,694,400,000 4,013,840,000

Biaya Tetap 500,000,000 RpAsumsi Biaya Operasional 40% terhadap Penjualan

SUMMARY BIAYA OPERASIONALUraian 2015 2016 2017 2018 2019

Biaya Operasional 2,900,000,000 3,140,000,000 3,404,000,000 3,694,400,000 4,013,840,000Biaya Depresiasi 1,780,350,000 1,780,350,000 1,780,350,000 1,780,350,000 1,780,350,000Biaya Sewa 17,500,000 17,500,000 2,500,000 2,500,000 0Total 4,697,850,000 4,937,850,000 5,186,850,000 5,477,250,000 5,794,190,000

Uraian TOP (hari)Kredit Penjualan 0Kredit Pembelian 15Rasio kas terhadap utang usaha 1.50

2015 2016 2017 2018 2019Jumlah Pelayanan 6,000 6,000 6,000 6,000 6,000Tarif Pelayanan 1,000,000 1,000,000 1,100,000 1,210,000 1,331,000 1,464,100Pendapatan (Penjualan) 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000Laba Bersih 68,267,625 518,937,225 1,007,827,575 1,515,135,750 2,056,953,533

Tarif Pelayanan 1,000,000 Rp per PelayananAsumsi KenaikanTarif/Tahun 10%

TABEL HASIL ASUMSIBerikut adalah hasil laporan keuangan terlampir berdasarkan dari asumsi yang telah dimasukkan.

2015 2016 2017 2018 2019Kas 181,250,000 196,250,000 212,750,000 230,900,000 250,865,000Piutang Usaha 0 0 0 0 0Utang Usaha 120,833,333 130,833,333 141,833,333 153,933,333 167,243,333Kebutuhan Modal Kerja 60,416,667 65,416,667 70,916,667 76,966,667 83,621,667Kenaikan Modal Kerja 60,416,667 5,000,000 5,500,000 6,050,000 6,655,000

FINANCINGPinjaman Bank 36,250,000 39,250,000 42,550,000 46,180,000 50,173,000Modal Sendiri 24,166,667 26,166,667 28,366,667 30,786,667 33,448,667Total 60,416,667 65,416,667 70,916,667 76,966,667 83,621,667

Biaya Bunga 4,350,000 4,710,000 5,106,000 5,541,600 6,020,760Biaya Provisi 362,500 392,500 425,500 461,800 501,730

Tambahan Pinjaman 36,250,000 3,000,000 3,300,000 3,630,000 3,993,000Tambahan Equity 24,166,667 2,000,000 2,200,000 2,420,000 2,662,000

2015 2016 2017 2018 2019FINANCINGPinjaman Baru 0 0 0 0 0Modal Sendiri

Kas Akhir 729,663,500 1,871,213,925 3,500,894,950 5,645,673,425 8,343,087,885

2015 2016 2017 2018 2019Kas 181,250,000 196,250,000 212,750,000 230,900,000 250,865,000Piutang Usaha 0 0 0 0 0Utang Usaha 120,833,333 130,833,333 141,833,333 153,933,333 167,243,333Kebutuhan Modal Kerja 60,416,667 65,416,667 70,916,667 76,966,667 83,621,667Kenaikan Modal Kerja 60,416,667 5,000,000 5,500,000 6,050,000 6,655,000

FINANCINGPinjaman Bank 36,250,000 39,250,000 42,550,000 46,180,000 50,173,000Modal Sendiri 24,166,667 26,166,667 28,366,667 30,786,667 33,448,667Total 60,416,667 65,416,667 70,916,667 76,966,667 83,621,667

Biaya Bunga 4,350,000 4,710,000 5,106,000 5,541,600 6,020,760Biaya Provisi 362,500 392,500 425,500 461,800 501,730

Tambahan Pinjaman 36,250,000 3,000,000 3,300,000 3,630,000 3,993,000Tambahan Equity 24,166,667 2,000,000 2,200,000 2,420,000 2,662,000

Cost of CoC PerkalianPorsi Capital Setelah Pajak Porsi x CoC

Pinjaman Bank 60.0% 18.0% 13.5% 8.1%Modal Sendiri 40.0% 25.0% 25.0% 10.0%Total 100.0% WACC 18.10%

Spread Ke di atas Kd 7.00%

Ke = Cost of EquityKd = Cost of Debt

Uraian

STATUS: LAYAKCASH INFLOW 0 2015 2016 2017 2018 2019EBIT (1-T) 0 976,612,500 1,246,612,500 1,554,862,500 1,881,562,500 2,242,807,500Depresiasi 1,780,350,000 1,780,350,000 1,780,350,000 1,780,350,000 1,780,350,000Nilai sisa Barang Modal 2,268,750,000Nilai sisa Modal Kerja 7,440,020,374Total Cash inflow 0 2,756,962,500 3,026,962,500 3,335,212,500 3,661,912,500 13,731,927,874

CASH OUTFLOWFixed Assets 11,170,500,000 0 0 0 0 0Kenaikan Modal Kerja 60,416,667 5,000,000 5,500,000 6,050,000 6,655,000Total Cash outflow 11,170,500,000 60,416,667 5,000,000 5,500,000 6,050,000 6,655,000

NET CASH FLOW (11,170,500,000) 2,696,545,833 3,021,962,500 3,329,712,500 3,655,862,500 13,725,272,874PVIF 18.1% 1.0000 0.8467 0.7170 0.6071 0.5140 0.4353PV 0 (11,170,500,000) 2,283,273,356 2,166,652,566 2,021,422,259 1,879,274,681 5,974,086,402NPV 3,154,209,264 LAYAKIRR 27.0%Payback Period 4.5 tahun

0 2015 2016 2017 2018 2019Pendapatan 0 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000Biaya Operasional 21,500,000 4,697,850,000 4,937,850,000 5,186,850,000 5,477,250,000 5,794,190,000Laba Operasi (21,500,000) 1,302,150,000 1,662,150,000 2,073,150,000 2,508,750,000 2,990,410,000Biaya Bunga 292,396,500 1,210,764,000 969,841,200 728,954,400 488,107,200 247,303,560Pendapatan (Biaya) Lain-lain (67,023,000) (362,500) (392,500) (425,500) (461,800) (501,730)Laba sebelum pajak (380,919,500) 91,023,500 691,916,300 1,343,770,100 2,020,181,000 2,742,604,710Pajak (Corporate tax) 0 22,755,875 172,979,075 335,942,525 505,045,250 685,651,178Laba Bersih (380,919,500) 68,267,625 518,937,225 1,007,827,575 1,515,135,750 2,056,953,533

0 2015 2016 2017 2018 2019PENERIMAANPenjualan Tunai 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000Piutang Usaha 0 0 0 0 0Lain-lain 0 0 0 0 0Total Penerimaan 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000PENGELUARANPembayaran Tunai 2,779,166,667 3,009,166,667 3,262,166,667 3,540,466,667 3,846,596,667Utang Usaha 0 120,833,333 130,833,333 141,833,333 153,933,333Biaya Sewa 40,000,000 0 0 0 0 0Biaya Bunga 292,396,500 1,210,764,000 969,841,200 728,954,400 488,107,200 247,303,560Cicilan 1,340,460,000 1,340,460,000 1,340,460,000 1,340,460,000 1,340,460,000Biaya Provisi 67,023,000 362,500 392,500 425,500 461,800 501,730Pajak 0 22,755,875 172,979,075 335,942,525 505,045,250Biaya Adm Selama Pembangunan 21,500,000 0 0 0 0 0Pembelian Harta Tetap 11,170,500,000 0 0 0 0 0Total Pengeluaran 11,591,419,500 5,330,753,167 5,463,449,575 5,635,818,975 5,847,271,525 6,093,840,540Selisih Penerimaan dan Pembayaran (11,591,419,500) 669,246,833 1,136,550,425 1,624,181,025 2,138,728,475 2,690,759,460Kas Awal 0 0 729,663,500 1,871,213,925 3,500,894,950 5,645,673,425Kas Sebelum Financing (11,591,419,500) 669,246,833 1,866,213,925 3,495,394,950 5,639,623,425 8,336,432,885FINANCINGInvestasi FAPinjaman Bank 6,702,300,000Modal Sendiri 4,889,119,500 0 0 0 0 0Modal KerjaPinjaman Bank 36,250,000 3,000,000 3,300,000 3,630,000 3,993,000Modal Sendiri 24,166,667 2,000,000 2,200,000 2,420,000 2,662,000Pinjaman Baru 0 0 0 0 0Total Financing 11,591,419,500 60,416,667 5,000,000 5,500,000 6,050,000 6,655,000Kas Akhir 0 729,663,500 1,871,213,925 3,500,894,950 5,645,673,425 8,343,087,885Cek Neraca 0 0 0 0 0 0

Uraian 0 2015 2016 2017 2018 2019HARTAHARTA LANCARKas 0 729,663,500 1,871,213,925 3,500,894,950 5,645,673,425 8,343,087,885Piutang Usaha 0 0 0 0 0 0Sewa dibayar di muka 40,000,000 22,500,000 5,000,000 2,500,000 0 0Total Harta Lancar 40,000,000 752,163,500 1,876,213,925 3,503,394,950 5,645,673,425 8,343,087,885HARTA TETAPNilai Perolehan 11,170,500,000 11,170,500,000 11,170,500,000 11,170,500,000 11,170,500,000 11,170,500,000Akumulasi Penyusutan 0 (1,780,350,000) (3,560,700,000) (5,341,050,000) (7,121,400,000) (8,901,750,000)Total Harta Tetap (Net) 11,170,500,000 9,390,150,000 7,609,800,000 5,829,450,000 4,049,100,000 2,268,750,000Total Harta 11,210,500,000 10,142,313,500 9,486,013,925 9,332,844,950 9,694,773,425 10,611,837,885UTANG DAN EKUITASUTANGUtang Usaha 0 120,833,333 130,833,333 141,833,333 153,933,333 167,243,333Utang Bunga 0 0 0 0 0 0Utang Pajak 0 22,755,875 172,979,075 335,942,525 505,045,250 685,651,178Utang Bank Jangka Pendek 0 36,250,000 39,250,000 42,550,000 46,180,000 50,173,000Utang Bank Jangka Panjang 6,702,300,000 5,361,840,000 4,021,380,000 2,680,920,000 1,340,460,000 0Utang Baru 0 0 0 0 0 0Total Utang 6,702,300,000 5,541,679,208 4,364,442,408 3,201,245,858 2,045,618,583 903,067,511EKUITASModal Sendiri 4,889,119,500 4,913,286,167 4,915,286,167 4,917,486,167 4,919,906,167 4,922,568,167Laba ditahan 0 (380,919,500) (312,651,875) 206,285,350 1,214,112,925 2,729,248,675Laba tahun berjalan (380,919,500) 68,267,625 518,937,225 1,007,827,575 1,515,135,750 2,056,953,533Total Ekuitas 4,508,200,000 4,600,634,292 5,121,571,517 6,131,599,092 7,649,154,842 9,708,770,374Total Utang dan Ekuitas 11,210,500,000 10,142,313,500 9,486,013,925 9,332,844,950 9,694,773,425 10,611,837,885

0 2015 2016 2017 2018 2019Pendapatan 0 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000Biaya Operasional 21,500,000 4,697,850,000 4,937,850,000 5,186,850,000 5,477,250,000 5,794,190,000Laba Operasi (21,500,000) 1,302,150,000 1,662,150,000 2,073,150,000 2,508,750,000 2,990,410,000Biaya Bunga 292,396,500 1,210,764,000 969,841,200 728,954,400 488,107,200 247,303,560Pendapatan (Biaya) Lain-lain (67,023,000) (362,500) (392,500) (425,500) (461,800) (501,730)Laba sebelum pajak (380,919,500) 91,023,500 691,916,300 1,343,770,100 2,020,181,000 2,742,604,710Pajak (Corporate tax) 0 22,755,875 172,979,075 335,942,525 505,045,250 685,651,178Laba Bersih (380,919,500) 68,267,625 518,937,225 1,007,827,575 1,515,135,750 2,056,953,533

2015 2016 2017 2018 2019Current Ratio 4.18 5.47 6.73 8.01 9.24Average Collection Period 0.00 0.00 0.00 0.00 0.00Working Capital Turnover 7.98 3.52 2.07 1.41 1.05Fixed Asset Turnover 0.64 0.87 1.25 1.97 3.87Total Asset Turnover 0.59 0.70 0.78 0.82 0.83Profit Margin 1.1% 7.9% 13.9% 19.0% 23.4%Return on Equity 1.5% 10.1% 16.4% 19.8% 21.2%Return on Asset 0.7% 5.5% 10.8% 15.6% 19.4%

2015 Asumsi PerubahanPenjualan 6,000,000,000 6,600,000,000 7,260,000,000 7,986,000,000 8,784,600,000Biaya Tetap 2,280,350,000 2,280,350,000 2,280,350,000 2,280,350,000 2,280,350,000Biaya Variabel 2,400,000,000 2,640,000,000 2,904,000,000 3,194,400,000 3,513,840,000Volume Penjualan 6,000 6,000 6,000 6,000 6,000Breakven Sales (Volume) 5,818 4,924 4,144 3,466 2,877Harga Jual 1,000,000 1,100,000 1,210,000 1,331,000 1,464,100Breakeven Sales (Rp) 5,817,919,167 5,416,331,167 5,014,798,167 4,613,325,667 4,211,919,717BES/Sales 97.0% 82.1% 69.1% 57.8% 47.9%

~ Selesai ~