account receivables and inventory
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ACCOUNT RECEIVABLES AND INVENTORY. I. ACCOUNT RECEIVABLES Seleksi Kredit. Persaingan tinggi perusahaan penjualan secara kredit Piutang dagang (account receivables) merupakan rekening untuk menampung hasil penjualan secara kredit. - PowerPoint PPT PresentationTRANSCRIPT
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ACCOUNT RECEIVABLES AND INVENTORY
I. ACCOUNT RECEIVABLESSeleksi Kredit.Persaingan tinggi perusahaan penjualan secara kredit Piutang dagang (account receivables) merupakan rekening untuk menampung hasil penjualan secara kredit. investasi pada piutang ini relative besar. Untuk perusahaan manufaktur, besarnya piutang dagang kurang lebih 37 persen dari asset lancer dan 16 persen dari total asset.Seleksi kredit adalah keputusan apakah memberikan kredit kepada konsumen dan nilai kreditnya.
5C untuk kredit.•Character of customers yaitu catatan dari konsumen berkenaan dengan kewajiban-kewajiban pada masa lalu•Capacity of customers yaitu kemampuan konsumen dalam melunasi hutangnya yang ditunjukkan dengan rasio likuiditas•Capital of customers yaitu kemampuan financial dari konsumen yang ditunjukkan dengan posisi kepemilikan (rasio debt to equity)•Collateral of customers yaitu jumlah jaminan harta dari konsumen terhadap hutang•Conditions yaitu kondisi perekonomian dan bisnis secara umum yang mempengaruhi kemampuan konsumen dalam melunasi kredit.
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Analisis Informasi kredit.Analisis kredit adalah evaluasi terhadap pemohon kredit. Selain itu, perusahaan juga harus menentukan line of credit yakni jumlah maksimum pemberian kredit kepada konsumen pada satu waktu. Credit Scoring.Credit scoring adalah prosedur yang memberikan skor yang mencerminkan kemampuan dari pemohon kredit secara keseluruhan yang diturunkan dari rata-rata skor tertimbang yang diperoleh dari berbagai karakteristik fiannsial dan lainnya.Contoh.Standar kredit untuk perusahaan YYY
Credit Score Action
> 75 Extend standard credit terms
65 – 75 Extend limited credit, if account is properly maintained. Convert to standard credit terms after one year
< 65 Reject application
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Konsumen A
Financial and Credit Characteristics
Score0 to 100)
Predetermined Weight
Weighted Score
Credit referencesHome ownershipIncome rangePayment historyYears at addressYears on job
8010070759080
0,150,150,250,250,100,10
1215
17,5018,75
98
80,25
Oleh karena konsumen A memiliki skor 80,25 diatas credit score 75, maka keputusannya adalah memperlunak persyaratan kredit.
Perubahan Standar Kredit.
Credit standard adalah persyaratan minimum untuk memberikan kredit kepada konsumen. 1.Variable inti.Variable utama yang ahrus dipertimbangkan dalam mengevaluasi dan melakukan perubahan terhadap credit standard:Sales volume Investment in account receivablesBad debts expenses
Variable Direction of Change Effect on Profits
Sales volume Investment in account receivablesBad debts expenses
IncreaseIncreaseIncrease
PositifNegatifNegatif
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Penentuan nilai variable inti.Perusahaan XXX menjual produk dengan harga $ 10 per unit dan tahun lalu mampu menjual produk sebanyak 60.000 unit dengan biaya variable per unit $ 6 dan biaya tetap $ 120.000.Tahun ini perusahaan berencana untuk memperlunak syarat kredit untuk meningkatkan volume penjualan sebesar 5 persen dengan memperpanjang periode pengumpulan piutang dari 30 hari menjadi 45 hari, sehingga bad debt expenses naik dari 1 persen menjadi 2 persen. Biaya kesempatan keterikatan dana pada piutang adalah 15 persen.Analisis:Sales volume Marjin kontribusi adalah $ 4 x 3.000 unit = $ 12.000Cost of marginal investment in account receivables
Average investment in account receivables = Total var costs of annual sales/Turnover of Acc. ReccTurnover of account receivables =360 / average collection periodTotal variable costs:Sebelum pelunakan kredit = $6 x 60.000 unit = $ 360.000Setelah pelunakan kredit = $6 x 63.000 unit = $ 378.000Turnover of account receivables:Sebelum pelunakan kredit = 360/30 = 12Setelah pelunakan kredit = 360/45 = 8
Average investment in account receivables:Sebelum pelunakan kredit = 360.000/12 = $ 30.000Setelah pelunakan kredit = 378.000/8 = $ 47.250
__________Marginal investment $ 17.250Opportunity cost 15
% __________
Cost of marginal investment $ 2.588
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Bed debts expensesSebelum pelunakan kredit = 1% x $600.000 = $ 6.000Setelah pelunakan kredit = 2% x $630.000 = $ 12.600
_________Cost of marginal bad debts $ 6.600
Analisis:Tambahan marjin kontribusi $ 4 x 3.000 unit $ 12.000Cost of marginal investment $ 2.588Cost of marginal bad debts $ 6.600
_______Net profit of implementation of proposed plan $ 2.812
Perubahan Syarat Kredit.Credit terms adalah persyaratan pembayaran oleh konsumen kredit perusahaan. Credit
terms dinyatakan “2/10, n/30 yang berarti bahwa konsumen memperoleh diskon 2 persen jika melunasi dalam waktu 10 hari setelah transaksi dan membayar penuh setelah periode kredit dalam waktu 30 hari.
Credit terms mencakup: The cash discount (2 persen), Cash discount period (10 hari), dan credit period (30 hari).1.Cash discount.Pengaruh cash discount terhadap profit disajikan seperti berikut ini.
Variable Direction of Change
Effect on Profits
Sales volume Increase Positive
investment in account receivables due to nondiscount takers paying earlier
Decrease Positive
investment in account receivables due to new customers Increase Negative
Bed debts expenses Decrease Positive
Profit per unit Decrease Negative
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1.Cash discount period.Pengaruh cash discount period terhadap profit disajikan seperti berikut ini.
Variable Direction of Change Effect on Profits
Sales volume Increase Positive
investment in account receivables due to nondiscount takers paying earlier
Decrease Positive
investment in account receivables due to nondiscount takers still getting cash discount but paying earlier
Increase Negative
investment in account receivables due to new customers
Increase Negative
Bed debts expenses Decrease Positive
Profit per unit Decrease Negative
1.Credit period.Pengaruh credit period terhadap profit disajikan seperti berikut ini.
Variable Direction of Change Effect on Profits
Sales volume Increase Positive
investment in account receivables
Increase Negative
Bed debts expenses Increase Negative
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Kebijakan Pengumpulan.
Collection policy adalah prosedur untuk pengumpulan/penagihan piutang dagang perusahaan pada saat jatuh tempo.Aging adalah teknik untuk mengevaluasi kredit atau kebijakan penagihan/pengumpulan yang menunjukkan proporsi saldo piutang dagang untuk jangka waktu tertentu.Teknik pengumpulan piutang dagang:SuratTeleponKunjungan personalPenggunaan agen penagihanTindakan hukum
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SOAL1.A firm is evaluating an account receivable change that would increase bad debts from 2 percent to 4 percent of sales. Sales are currently 50,000 units, the selling price is $20 per unit, and the variable cost per unit is $15. As a result of the proposed change, sales forecast to increase to 60,000 units.
What are bad debts in dollar presently and under the proposed change?Calculate the cost of the marginal bad debts to the firm
2.Parker tool is considering its credit period from 30 to 60 days. All customers will continue to pay on the net date. The firm currently bills $450,000 for sales and has $345,000 in variable costs. The change in credit terms is expected to increase sales to $510,000. Bad debts will increase from 1 percent to 1.5 percent of sales. The firm has a required rate of return on equal risk investment of 20 percent
What additional profit contribution from sales will be realized from proposed change?What is the cost of the marginal investment in account receivables?What is the cost of the marginal bad debts?Do you recommend this change in credit terms?
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JAWAB:
1. Q1= 50,000 units, P=$20 per unit, Vc=$15 per unit, and bad debts=2%
Q2= 60,000 units and bad debts=4%
a.Sales (50,000) $ 1,000,000Variable costs $ 750,000
---------------Contribution profits $ 250,000Bad debts= 2% * 1,000,000 = $20,000
Sales (60,000) $ 1,200,000Variable costs $ 900,000
---------------Contribution profits $ 300,000
Bad debts= 4% * 1,200,000 = $48,000
b. the cost of the marginal bad debts to the firm= $28,000
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2. Sales1 = $450,000, VC=$345,000, Bad debts=1%, ACP=30 days
Sales2 = $510,000, VC= ? , Bad debts=1.5%, ACP=60 days
OC=10%a. Profit contribution
450,000 – 345,000 = $105,000 Bad debts= 1% *450,000 = $4,500
510,000 – *510,000 = $119,000
Bad debts= 1.5% *510,000 = $7,650 b. Marjin kontribusi adalah $ 14.000Total variable costs:Sebelum pelunakan kredit $ 345.000Setelah pelunakan kredit $ 391.000Turnover of account receivables:Sebelum pelunakan kredit = 360/30 = 12Setelah pelunakan kredit = 360/60 = 6Average investment in account receivables:Sebelum pelunakan kredit = 345.000/12 = $ 28,750Setelah pelunakan kredit = 391.000/6 = $ 65.167
__________Marginal investment $ 36.417Opportunity cost 20 %
_________Cost of marginal investment $ 7.283
$14,000
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c. Bed debts expensesBad debts= 1% *450,000 =
$4,500Bad debts= 1.5% *510,000 =
$7,650
_________Cost of marginal bad debts $ 3.150
d. Analisis:Tambahan marjin kontribusi $ 14.000Cost of marginal investment $ 7.283Cost of marginal bad debts $ 3.150
________Net profit of implementation of proposed plan $ 3.567