Page 6 - Modul CA - Manajemen Keuangan Lanjutan (Plus Soal)

MANAJEMEN
KEUANGAN LANJUTAN

DAFTAR ISI

BAB I
PENGELOLAAN DAN STRATEGI NILAI PERUSAHAAN ....................................................................... 1
1.1 Penciptaan dan Penurunan Nilai Perusahaan .............................................................................................. 2
1.2 Tujuan Perusahaan untuk Memaksimalkan Kekayaan Pemegang Saham .............................................. 2
1.3 Tiga Langkah dalam Menentukan Nilai Perusahaan .................................................................................. 2
1.4 Manajemen Berbasis Laba ............................................................................................................................... 2
1.5 Bagaimana Bisnis Menciptakan Nilai ............................................................................................................ 3
1.6 Pendahuluan – Aplikasi Prinsip Nilai ........................................................................................................... 4
1.7 Tujuan Perusahaan ............................................................................................................................................ 4
1.8 Manajemen Unit Bisnis Stratejik .................................................................................................................... 5
1.9 Tiga Tingkatan Strategi dalam Perusahaan .................................................................................................. 5
1.10 Target dan Motivasi .......................................................................................................................................... 6

BAB II
PERHITUNGAN PENCIPTAAN NILAI ................................................................................................... 7
2.1 Pengukuran Nilai dengan Penggunaan Arus Kas ....................................................................................... 8
2.2 Analisis Nilai Pemegang Saham .................................................................................................................. 8
DOKUMEN
2.3 Economic Profit .................................................................................................................................................. 10
2.4 Economic Value Added...................................................................................................................................... 12
2.5 Cash Flow Return On Investment (CFROI) .................................................................................................. 12
BAB III
PENGUKURAN KINERJA PERUSAHAAN ............................................................................................ 13
IAI
3.1 Total Shareholder Return (TSR) ................................................................................................................... 14
3.2 Wealth Added Index (WAI) ............................................................................................................................. 15
3.3 Market Value Added (MVA) ............................................................................................................................ 16
3.4 Excess Return .................................................................................................................................................. 18
3.5 Market-to-Book Ratio ..................................................................................................................................... 18
BAB IV
MERJER DAN AKUISISI ...................................................................................................................... 19
4.1 Tiga Bentuk Dasar Akuisisi ............................................................................................................................. 20
4.2 Variasi Pengambilalihan Perusahaan ............................................................................................................. 21
4.3 Efek Samping Keuangan dari Akuisisi .......................................................................................................... 23
4.4 Biaya untuk Pemegang Saham dari Pengurangan Risiko .......................................................................... 23
4.5 Net Present Value (NPV) dari Merjer............................................................................................................ 23
4.6 Pengambilalihan Perusahaan (Friendly Versus Hostile Takeover) ............................................................. 24
4.7 Defensive Tactics ............................................................................................................................................. 24
4.8 Apakah Merjer Menambah Nilai? .................................................................................................................. 26
4.9 Dampak Perpajakan dari Akuisisi .................................................................................................................. 26
4.10 Akuntansi untuk Kegiatan Akuisisi ............................................................................................................... 26
4.11 Going Private dan Leverage Buyouts ............................................................................................................ 26
4.12 Divestasi .............................................................................................................................................................. 27

Ikatan Akuntan Indonesia iii