A. Conclusion

The company has an excellent increasing in 2007 because the company not have short-term obligation. Also in the 2007 shot-term of the company in good shape Because of Accounts Receivables Turnover is highest in the year 2007. We cans look the condition of the company was good because sales in 2007 are More Than Fixed Asset Turnover. is in the trigger by several factors such as deterioration of Indonesian tin production., tin reserves thinning, while the major tin producer, PT Timah Tbk as yet to find a new field. Moreover, PT Timah Tbk in 2007 try to spawn a new strategy in the midst of the limited reserve of tin. The strategy, among others, development of new products named lead free tin solder and tin chemical. That is the raw material of crude tin metal with a mixture of chemical; this product can replace tin solder and can be used for equipment electronic. So PT Timah Tbk has increased production is quite good. Also beginning in 2007, PT Timah Tbk has reduced the dependence of tin mining on land.

Unfortunately after 2007, PT Timah Tbk has decreased which is not too keen on the production graph since for tin export quota restrictions imposed Ministry of Energy and Mineral Resources (EMR). Besides this, tin reserves which owned PT Timah Tbk after 2007 also has increasingly depleted.
While the factor-factor affecting the share price of PT Timah Tbk during the five-year period from 2005 to 20,010 between other sloving the shares of PT Timah Tbk, the projected earnings per share when the risk level of income obtained from the company’s profit projection proportion of debt to equity, and policy division PT Timah Tbk dividend by itself. Also external factors such as economic activity in general, taxes and stock market conditions also affect the shares of PT Timah Tbk. external constraints such as the forces of supply and demand for shares in the market.

Domestic political turmoil and fluctuations in exchange rates have recently occurred as well, various issues both from domestic and overseas is also a significant factor influencing the occurrence of the stock price of PT Timah Tbk during the last five periods.

	2005	2006	2007	2008	2009
Liquidity
Current Ratio	1,8286	1,5801	2,9570	2,6241	2,9413
Quick Ratio	0,7168	0,3557	2,6667	2,4516	1,2105
cash ratio	0,3618	0,1197	1,2843	0,2807	0,5147
Eficiency
average collection period	20 days	20 days	15 days	18 days	25 days
account receivables turnover	17 times	17 times	24 times	20 times	14 times
total assets turnover	1,2358	1,1774	1,6794	1,5649	1,5878
inventory turnover	2,9277	1,8715	13,6882	0,5578	3,4343
fixed assets turnover	6,9502	8,4971	18,0070	10,3987	6,0717
Leverage
debt ratio	44.17%	44.18%	33.25%	33.95%	29.35%
equity ratio	55.82%	48.43%	66.74%	66.04%	70.64%
debt to equity ratio	79.13%	91.23%	49.83%	51.41%	41.56%
Profitability
operating profit margin	6.23%	9.35%	31.98%	22.87%	8.93%
net profit margin	3.17%	6.01%	20.89%	14.83%	4.07%
OIROI	9.74%	11.01%	54.29%	35.79%	14.18%
ROE	7.01%	12.41%	53.12%	35.13%	9.15%
ROA	7.70%	11.01%	54.29%	35.79%	9.56%
Earning per share	213,5875	414	503,00	267	62,3385
Time interest earn ratio	7,7913	7,0948	62,9640	51,1364	13,5602

1. Current ratio is good if> 1. From 2005 until the year of 2009, the rate ratio was higher in 2007 it meant in 2007 the company not have short-term obligation. Companies can meet the obligations – obligations in the short term.

2. Average Collection Period is best in 2007: 15 days. Value is said to be either the lowest since the period of rapid collection of just 14 days compared with the year – the previous year and the following year.

3. Accounts Receivables Turnover is highest in the year 2007 on 24 times. It’s means if the 2007 shot-term of the company in good shape.

4. Sales in 2007 is More Than Fixed Asset Turnover, It shows us if condition was good. Leverage ratio (financing decisions) in the year 2007 was very good from the other years it means the impact of using debt capital to financial assets in 2007 is very good

5. The lowest debt ratio in 2008, in the year 2008 means the finance company’s risk is lower than in other years. If debts high ratio means that the value is not good because the assets are paid emergency debt.

6. Debt to equity ratio with closing share price from year 2005 to 2009. From the calculations we can see that the company has a capital that comes from debt. The highest capital values that are financed with debt occurred in 2007 low debt value 0.0846. In the year 2007 shows that the performance of either company because its own capital is bigger than the debt. Debt is an obligation that must be repaid. Due to the low debt have an impact on a high closing price.

7. Times interest earned ratio was highest in 2007 at the highest level of the other years are at 62.9640 times, it shows the company in 2007 to have positive net income.

8. Return on equity is how well the firms are maximizing share holder wealth managers, in the year 2007 return on equity is 53,12% that means in 2007 the firm maximizing share holder wealth managers are very good in comparison to other years. In ROE, this value was also considered by investors as well because this value shows how companies use equity to net income.

9. The OIROI highest is in 2007 is 54,29%. It shows us that in 2007 reflects the product, pricing and the firm’s ability is very good to keep costs down.

10. Dupont Model
Popular expression breaking ROE into thre parts:
Operating efficiency, asset use efficiency, and financial leverage

Operating efficiency, asset use efficiency, and financial leverage

 

Highest	3475	3325	3375	176557000
Lowest	1940	1780	1810	2789000
Average	2443,897	2352,426	2406,127	21749301,47
Standard Deviation	345,3625	324,9719	334,1491	21587159,02

 

 

From the picture above that is contain the high, low, close and volume. We can see the volume in the right side of the graph and the closing price in the left side. The highest price was on January 22, 2010 and the lowest price is June 8, 2010 that’s for high prices. However, the highest price of stock in the closing price is 3375 it was on January 26, 2010 and the lowest closing price was on June 8,2010. The highest volume is 176,557,000 and it was on February 16, 2010 and the lowest volume is 2,789,000 on April 8, 2010. The graph is showing us that the condition of the stock of Timah company is not stable.

Can we see stock prices fluctuate? There are many factors that influence the rise and fall of a company’s stock price. Stock prices can rise or fall causes one of which is supply and demand factors. The supply and demand is also influenced by several factors, interest rate movements and inflation. Other things can affect the price movement of stocks is the performance of the company issuing the shares.

The graph above drawing illustrates the stock price of PT Timah during January 4, 2010 to October 29, 2010. Indicators of market trends are the stock prices that describe the market situation at that time. Graph component that is discussed is the low price of high-Close and Volume.

 

The highest share price turbulence is the period from the date of January 4 to the date of October 29 by the low price of high-Close while the highest share price based on the existing volume in the period January 4, 2010 by volume. This increase was caused by a rise in world commodity prices are predicted to boost tin performance of PT Timah Tbk (TINS) encourages analysts determine the fair price of company stock in the mining sector was in the range of levels of Rp 2.700.Iincrease in world tin prices are expected to help increase the performance of Tin, language in that period. With a projected average price of tin in this year’s U.S. $ 16,900 will provide the calculation of the fair price of company shares at Rp 2.700, which is not far away with the latest price on the stock. Timah, Tbk booked sales of Rp 1.8 trillion in the first quarter of 2010 from a year earlier to Rp 1.6 trillion. The increase of 16 percent is also followed by increase in cost of sales, but still able to provide better gross margin than the previous year. Company mine produces more tin than the previous year ie 7397 tones from 5288 tones. Thus, of course, the production cost Timah Tbk increases with increase in total production by the company. Nevertheless, although the company produces more but Timah, Tbk sell less tin than the previous year that is as much as 9770 tons from 11,014 ton. However, sales price increases of 51 percent, higher than the increase in cost of sales per ton which is 24 percent could distribute fold increase in net profit issuers.

The lowest share price turbulence is in the period February 4 to March 4 the low price of high-Close and while the lowest share price based on the existing volume in the period June 4, 2010 caused by news that Indonesia’s tin production is impaired because affirmative action for illegal mining and the limited reserves of tin in Indonesia, boosting the price of tin in trading commodity exchanges. Stocks Timah, Tbk. has a trade volume amounting to 353.114 with a lot of Rp480 trillion in values, where net buy foreign conduct amounted to Rp81, 8 trillion. The increase in stock price is also looking to put a halt attenuation index.

These erratic changes caused by stock split means breaking the nominal price of shares and amount of shares. In nominal terms, the policy stock split resulted in a decrease in the share price of each share. However, every company that does the policy of a stock split, changes in stock market prices. A policy of a stock split is said to have an influence on changes in stock market prices, if there are significant differences between the stock price prior to the implementation of a stock split with the stock price after the stock split policy implementation. And the events that recently occurred. Domestic political turmoil and fluctuations in exchange rates is also a significant factor influencing the occurrence of stock price movements on the stock exchange of a State such as Krakatau Steel case. Or it could be caused by the announcement of the company’s financial statements Tin. Language such as forecasting earnings before the end of the fiscal year and after the end of the fiscal year, earnings per share (EPS) and dividend per share (DPS), price earnings ratio, net profit margin, return on assets (ROA), and others. Also, announcement of the government such as changes in interest rates of savings and deposits, foreign exchange rates, inflation, and various regulatory and economic deregulation issued by the government.

When Talking about money, we should know the history of money and it’s evolution until today. here are some video taking from walt disney pictures that will show all of us the process of human needs of money.
Enjoy:

Capital Budgeting

• Capital Budgeting can be called as investment appraisal
• It is the planning that use to determine the firm’s long term investment
• example: new machinery, replacement machinery, new plants and etc.
• It is budget for major capital, investment and expenditures.

Method that can be used in capital budgeting

1. Accounting Rate of Return (ARR)
2. Net Present Value
3. Profitable index
4. Internal rate of return
5. Modified internal rate of return
6. Equivalent of anuity

Net Present Value

NPV is greatly affected by discount rate, so selecting the proper rate – sometimes called hurdle rate is critical to making the right decision.

Internal rate of return

The discount rate that gives the NPV. It is common use to measure investment efficiency.

Equivalent annuity method

expressed the NPV as an annualized cash flow by dividing it by the present value of the annuity factor.

Payback Period

All other things that being equal, the better investment is the one with the shorter payback period.

There are two method:

1. It ignores any benefits that occur after the payback period and therefore, doesn’t measure profitability.
2. It ignores the time value of money.

(source: http://en.wikipedia.org/wiki/Capital_budgeting)

As we already now what money is, now we will reveal why we choose money as our group name. There reason we choose money as a group name are

• We think that everybody needs money to survive.
• Nowadays every transaction is using money. So money is something that we will not to forget.
• Money can fulfill our need and necessary in our daily life.
• the word “money” is easy to remember.

What is money??? What do you think about money?? Let’s know about it!!!

Money

• Any object that generally use for transaction or payment for goods and services and also can become a repayment for debts in a given country. (sources: wikipedia)

• Value that serves as a (1) generally accepted medium of financial exchange, (2)legal ledger for payment of debt, (3) standard of value, (4) unit of accounting measure, and (5)means to save or store purchasing power. (sources: business dictionary)

• A good that act as a medium of change. (source: About.com)

Full name: Corenta Prasetyaningrum

Nick name: Arum

ID number: 091517598

email: 091517598@students.uajy.ac.id

Class: A

Hobby: Playing guitar

Comment: I’m a simple and ordinary girl from IFAP 20009

Full name: Karina Irene Purnamasari

Nick name: Karin

ID number: 091217608

email: 091217608@students.uajy.ac.id

Class: A

Hobby: Reading the book

comment: I’m a simple person, fun, easy going. I’m from IBMP 2009 program.

Full name: Regina Nathania

Nick name: Regina

ID number: 091517607

email: 091517607@students.uajy.ac.id

Class: A

Hobby: Listening to the music

Comment: I was born in Yogyakarta on 1st November 1991.  Actually I’m from IFAP’09.  My favorite colour is blue because it looks like represent about a gentleness. The reason why i choose this course because i want to know more about financial in some companies since I’m taking Accounting department.

3. Full name: Febrian Adhi

Nick name: Febrian

ID number: 081217453

email: 091517453@students.uajy.ac.id

Class: A

Comment: Dont let your head down, There are still opportunities to change.. from IBMP 2008 here to serve.

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