Selepas membincangkan Kepentingan Penyata Kewangan dan penilaian Kunci Kira-kira, artikel kali ini akan membincangkan konsep-konsep penting yang digunakan dalam Kunci Kira-kira. Konsep-konsep tersebut ialah konsep Aset, Liabiliti dan Nilai Bersih.
ASET
Dua Jenis Aset - Aset Semasa dan Aset Tetap
Aset – aset boleh digunakan dalam perniagaan dengan dua cara. Pertama, aset boleh dijual untuk mencipta tunai, atau ia boleh digunakan untuk mengeluarkan barangan yang boleh dijual bagi menghasilkan pendapatan tunai pada masa hadapan. Barangan yang dihasilkan seperti bijirin padi dan ternakan kambing boleh dijual dengan cepat tanpa mengganggu aktiviti pengeluaran masa hadapan dipanggil aset cair. Jentera, baka kambing Boer dan tanah pula digunakan untuk menghasilkan pendapatan masa hadapan dipanggil aset tetap.
Perbincangan untuk topik ini akan menggunakan contoh laporan Kunci Kira-kira Peladang JBA sepertimana yang ditunjukkan dalam Jadual 9.1 di bawah.
Jadual 9.1: Kunci Kira-kira Peladang JBA pada 31 hb. Disember 2008 (dalam RM).
Aset Semasa
Wang tunai ditangan ____2,073,692
Penghutang perniagaan/Akaun belum terima (account receivable)___1,218,525
Pelbagai pembayaran pendahuluan (prepaid expenses) ___1,787,877
Lain-lain Aset ___733,007
Inventori ___66,668
Jumlah Aset Semasa __5,879,769
Aset Tetap
Tanah ____1,261,365
Peralatan 202,616
(Tolak: Susut nilai Peralatan 1,000) ___201,616
Bangunan 500,000
(Tolak: Susut nilai Bangunan 5,087) ___494,913
Aset dalam Perlaksanaan 468,000
Pinjaman Nelayan 494,913
Jumlah Aset Tetap ___1,957,894
JUMLAH ASET ___RM7,837,663
Liabiliti Semasa
Pemiutang perniagaan __1,533,623
Pelbagai pemiutang/Akaun belum bayar__ 307,279
Peruntukan cukai/dividen __56,540
Jumlah Liabiliti Semasa __ 1,897,442
Liabiliti Jangka Panjang
Gadaian ____0
Jumlah Liabiliti___1,897,442
Nilai Bersih 5,940,221
Dibiayai oleh (Dipanggil juga Ekuiti Pemilik):
Modal Saham Ahli __64,460
Modal Geran Pelancaran __135,375
Keuntungan Terkumpul __2,412,483
Kumpulan Wang Simpanan __2,065,602
Pinjaman LKIM __643,662
Kumpulan Wang Kebajikan Am __599,237
Pelbagai Tabung Kebajikan __19,400
Jumlah Ekuiti Pemilik__5,940,221
JUMLAH LIABILITI DAN EKUITI PEMILIK__RM 7,837,663
a) Aset Semasa – ia termasuk tunai di tangan dan baki akaun simpanan. Aset semasa yang lain ialah akaun belum terima (yang tempoh matangnya kurang dari setahun), inventori, pelbagai pembayaran pendahuluan (prepaid expenses), dan lain-lain aset seperti hasil tanaman atau ternakan yang akan dijual, bekalan ladang. Dalam Jadual 9.1, dilaporkan jumlah tunai di tangan ilah RM2,073,692 pada 31 Disember. Sekiranya Peladang JBA perlu membayar pembelian secara tunai dengan banyak, maka ia perlu membuat pembelian jangka pendek untuk menampung pembeliannya.
Akaun Belum Terima mewakili jumlah hutang yang masih belum dibayar oleh pelanggan-pelangan Peladang JBA dari pembelian yang lalu. Ianya terhasil kerana pelanggan telah diberi kemudahan pembelian secara kredit. Sesetengah perniagaan barang makanan sangat bergantung kepada penjualan secara kredit, kerana petani hanya membuat pembayaran selepas hasil pertanian mereka dikutip dan dijual. Dalam Jadual 9.1, pada bulan Disember, pelanggan Peladang JBA masih berhutang sebanyak RM1,218,528 dari penjualan tahun lepas atau beberapa tahun yang lalu. Peladang JBA boleh membuat penjualan secara kredit, tetapi pada masa yang sama perlu berhati-hati dengan polisi jualan secara kredit ini, agar tidak terlalu banyak jumlahnya. Langkah berhati-hati ini perlu dibuat untuk mengelakkan Peladang JBA menghadapi kesukaran dalam aliran tunai pada masa hadapan.
Inventori ialah stok barangan yang akan dijual, atau stok barangan modal yang akan digunakan untuk proses pengeluaran pada masa hadapan. Peladang JBA mempunyai inventori sebanyak RM66,688 pada 31 Disember. Peladang mungkin membuat inventori untuk memenuhi permintaan pada waktu permintaan tinggi seperti pada waktu musim perayaan. Sekiranya peladang JBA boleh merancang untuk memenuhi permintaan pengguna pada waktu yang diperlukan, maka peladang tidak perlu menyimpan terlalu banyak inventori.
Pelbagai Pembayaran Pendahuluan (prepaid expenses) merupakan bayaran yang telah dibuat terlebih dahulu terhadap barangan atau perkhidmatan yang digunakan oleh peladang. Barangan atau perkhidmatan tersebut belum digunakan lagi tetapi pembayaran telah dibuat, seperti bayran pendahuluan terhadap sewa bangunan, mesin atau insurans.
Lain-lain aset termasuklah hasil ternakan atau ladang yang akan dijual, pelaburan seperti pembelian saham dan bon syarikat lain. Aset-aset ini pula mudah dijual dan ditukar kepada tunai dengan mudah.
b) Aset tetap – contohnya tanah, bangunan kekal, dan peralatan. Aset ini kurang cair dan tempoh hayatnya lebih dari 10 tahun. Jika dijual, aset ini akan memberi kesan kepada masa hadapan perniagaan. Aset ini digunakan untuk mengeluarkan barangan dan perkhidmatan. Umumnya semua aset tetap kecuali tanah mengalami susutnilai dan perlu dicatatkan perbelanjaan susutnilai. Contohnya mesin pengisar padi (dicatat sebagai peralatan) kepunyaan Peladang JBA bernilai RM50,000 sahaja selepas 3 tahun digunakan, walau pun pada awalnya dibeli pada kos RM80,000. Catatan nilai aset tetap perlu dibuat pada nilai semasa aset tersebut. Contohnya mesin pengisar dicatat nilai aset dicatatkan RM50,000 walaupun nilai sebenar masa dijual mungkin lebih tinggi atau rendah dari nilai dicatatkan kerana harga sebenar semasa jualan berlaku dipengaruhi oleh kuasa tawar menawar.
LIABILITI
Dua Jenis Liabiliti
Liabiliti ialah satu tanggungan atau hutang yang dibuat oleh perniagaan daripada orang lain. Ia menunjukkan tuntutan seseorang atau sesuatu perniagaan luar terhadap satu atau lebih aset perniagaan. Liabiliti boleh dibahagiakan kepada dua kategori bergantung kepada tempoh hutang atau pinjaman itu dibuat.
a) Liabiliti Semasa (current liabilities)
Liabiliti semasa merupakan tanggungan kewangan yang akan matang atau yang akan dibayar dalam tempoh satu tahun daripada tarikh kunci kira-kira itu dibuat. Contoh liabiliti semasa ialah Akaun Belum Bayar (account payable) bagi barangan atau perkhidmatan yang dibeli secara kredit, dan jumlah penuh pokok bagi mana-mana pinjaman jangka pendek. Di antara bayaran yang termasuk dalam kategori ini ialah inventori, bekalan (supplies), dan peralatan yang dibeli secara kredit dan bayaran perlu dibuat dalam tempoh kurang dari setahun. Dalam perniagaantani, di mana corak perniagaannya adalah bermusim, pinjaman jangkapendek untuk membiayai inventori adalah penting kepada pengusaha.
Nota Perlu Bayar (notes payable) ialah pinjaman jangka pendek yang memerlukan pembayaran secara bulanan. Pembayaran pokok bagi pinjaman akan disenaraikan sebagai liabiliti semasa kerana ia menunjukkan tanggungan tunai yang akan dijelaskan.
Nota Terakru (acrued notes) merupakan akaun individu yang perlu ditanggung oleh firma perniagaan. Ianya dikira secara agregat seperti upah (wages payable) dan cukai (taxes payable).
b) Liabiliti Jangka Panjang (Long Term Liabilities)
Pinjaman untuk membeli tanah atau apabila tanah digunakan sebagai cagaran untuk mendapatkan pinjaman membeli tanah atau membina bangunan akan disenaraikan sebagai liabiliti jangka panjang. Tempoh pembayaran balik biasanya melebihi 10 tahun. Pembayaran pokok untuk tahun tersebut dan bunga yang terakru akan disenaraikan sebagai liabiliti semasa, dan baki pinjamannya dimasukkan ke dalam liabiliti jangka panjang. Ada juga juga liabiliti yangka panjang yang tempoh pembayaran balik cuma di antara 7 hingga 10 tahun. Kebanyakan liabiliti jenis ini digunakan untuk membeli jentera dan baka ternakan. Lain-lain contoh liabiliti jangka panjang ialah gadaian (morgages) rumah, dan lain-lain pinjaman jangka panjang dari individu, bank, dan lain-lain institusi kewangan.
Nilai Bersih
Nilai bersih menunjukkan baki jumlah wang yang dimiliki oleh pemilik perniagaan sekiranya semua aset dijual dan semua liabiliti dibayar pada tarikh kunci kira-kira. Nilai bersih diperolehi dengan “jumlah aset tolak jumlah liabiliti”. Maksudnya, nilai bersih ialah wang sendiri yang dilaburkan oleh pemilik dalam perniagaan tersebut, dan nilai itu dicatatkan sebagai liabiliti kerana ia merupakan tuntutan pemilik terhadap perniagaan tersebut. Nilai bersih juga dinamakan ekuiti pemilik.
Nilai bersih berubah jika terdapat perubahan pada nilai aset, penerimaan harta pusaka, atau aset yang dijual pada nilai lebih rendah dari nilai bukunya dalam kunci kira-kira. Peningkatan nilai bersih biasanya disebabkan oleh penggunaan aset untuk mengeluarkan tanaman dan ternakan, dan keuntungan daripada pengeluaran ini digunakan untuk membeli aset-aset baru atau mengurangkan liabiliti. Walau bagaimanapun proses penambahan nialai aset dalam sector pertanian mengambil masa yang panjang, dan salah satu sebab mengapa kita membandingkan kunci kira-kira pada awal dan akhir tahun ialah untuk mengkaji kesan pengeluaran tahunan terhadap nilai bersih, nilai aset dan nilai liabiliti.
Walau bagaimanapun, perubahan aset dan liabiliti mungkin tidak menyebabkan perubahan nilai bersih. Contohnya jika tunai RM100 ribu digunakan untuk membeli traktor baru, nilai bersih tidak akan berubah. Aset semasa akan berkurangan sebanyak RM100 ribu, manakala aset jangka panajang akan meningkat sebanyak RM100 ribu. Meminjam sebanyak RM200 ribu untuk membeli tanah juga tidak akan merubah nilai bersih, kerana kedua-duanya, iaitu jumlah aset dan jumlah liabiliti akan meningkat sebanyak RM200 ribu.
Contoh ini menerangkan suatu konsep penting. Nilai bersih perniagaan hanya berubah jika pemilik menambah modalnya sendiri dalam perniagaannya (menambah nilai bersih), atau mengeluarkan modal untuk memenuhi perbelanjaan untuk sara hidup keluarga (mengurangkan nilai bersih), atau jika perniagaan mengalami kerugian (mengurangkan nilai bersih). Kebanyakan urus niaga perniagaan hanya merubah kandungan aset dan liabiliti tetapi tidak nilai bersihnya.
Dalam perakaunan:
Aset = Liabiliti + Ekuiti Pemilik
ANALISIS NISBAH
Kunci kira-kira kerap dianalisis dengan menggunakan analisis nisbah untuk mengkaji kedudukan dan kekukuhan kewangan sesuatu perniagaan. Kebanyakan institusi kewangan akan menggunakan analisis nisbah daripada kunci kira-kira untuk menentukan kekukuhan kedudukan kewangan pelanggannya.
Nisbah Semasa
Nisbah semasa digunakan bagi menentukan kecairan perniagaan dan menunjukkan perkaitan di antara aset semasa dengan liabiliti semasa.
Nisbah Semasa = Aset Semasa/Liabiliti Semasa
= RM5,879,769/RM1,897,442
= 3.1
Berdasarkan pengiraan, didapati nisbah semasa ialah 3.1, bermakna syarikat mempunyai aset semasa berbanding dengan liabiliti semasa sebnyak 3.1 kali ganda. Syarikat berkemampuan untuk mendapatkan tunai bagi membayar segala hutang semasa.
Nisbah modal bersih
Nisbah modal bersih digunakan untuk mementukan kemampubayaran syarikat. Ketidakmampubayaran berlaku jika nisbah modal bersih kurang daripada satu, kerana jika perniagaan dibubarkan, hasil yang diperolehi daripada jualan aset tidak cukup untuk membayar semua liabiliti. Sebenarnya nisbah modal bersih sesuatu perniagaan ialah satu. Penurunan yang sedikit dalam jumlah aset boleh menjadikan perniagaan tersebut, secara teknikal, tidak mampu membayar segala hutangnya. Nisbah modal bersih yang meningkat dari tahun ke tahun menunjukkan kekukuhan perniagaan syarikat tersebut.
Nisbah modal bersih = jumlah Aset/Jumlah Liabiliti
= RM7,837,663/RM1,897,442
= 4.13
Nisbah Hutang-Ekuiti
Nisbah hutang-ekuiti atau nisbah leveraj menunjukkan perkaitan di antara modal yang dipinjam dengan modal yang dimiliki. Nisbah ini dikira dengan menggunakan persamaan berikut:
Nisbah hutang-ekuiti = Jumlah Liabiliti/Nilai bersi
= RM RM1,897,442/RM5,879,769
= 0.322
Semakin kecil nilai nisbah hutang-ekuiti berserti semakin kukuh kedudukan kewangan syarikat, kerana semakin besar jumlah ekuiti berbanding dengan jumlah liabiliti. Sekiranya nisbah hutang-ekuiti bersamaan satu, bererti pemilik perniagaan menyumbangkan 50% daripada modal perniagaan, manakala 50% lagi dipinjam.
Friday, October 3, 2008
Thursday, October 2, 2008
Teknik-teknik perancangan perniagaantani - penggunaan analisis kewangan
Pendahuluan
Setelah membincangkan teknik-teknik pemasaran dalam perniagaantani pada bulan lepas, perbincangan pada bulan Oktober 2008 (bersamaan bulan Syawwal 1429 Hijrah) akan menumpukan perbincangan penggunaan penyata kewangan seperti Kunci Kira-kira, Penyata Pendapatan (atau dipanggil juga penyata Untung Rugi) dan Penyata Aliran Tunai.
Persoalan yang sering ditanya ialah: Mengapakah penyata kewangan berguna dalam Pengurusan Perniagaantani? Sebenarnya Penyata kewangan merupakan satu laporan yang digunakan oleh pengguna maklumat perakaunan seperti pemberi pinjaman (lenders), pelabur (investors), pekerja (employees), pembekal (suppliers), Jabatan Hasil Dalam Negeri dan usahawan sendiri.
Penyata kewangan yang lengkap dapat memberi gambaran kedudukan kewangan sesebuah perniagaan, kemampuan entiti perniagaan membayar semula pinjaman yang dibuat, cara perlaksanaan perniagaan, trend perniagaan (dari segi jualan, kos pengeluaran, kos tidak langsung dan upah), keluaran output, prestasi (output/input buruh) dan kedudukan aliran tunai perniagaan. Dari analisis kewangan tersebut kita dapat menentukan kejayaan perniagaan yang dibuat, apakah masalah dan peluang yang ada dari perniagaan, dan apakah alternatif atau tindakan yang perlu dibuat untuk membolehkan perniagaan ditingkatkan prestasinya. Pelabur pula boleh menganalisis potensi pulangan dari pelaburan yang dibuat (Return on Investment, ROI). Keuntungan yang didapati dari aktiviti jualan yang menghasilkan hasil (revenue) kepada entiti perniagaan dan ditolak kos (cost) dari operasi pengeluaran barangan dan perkhidmatan dapat menunjukkan keupayaan dan kebolehan pembuat keputusan di dalam sesebuah organisasi. Pengerusi Eksekutif (CEO, Chief Executive Officer), Ahli Lembaga Pengarah dan pengurusan sesebuah organisasi sangat mementingkan keuntungan dalam organisasi perniagaan mereka. Adakah organisasi yang ditubuhkan tidak bermatlamatkan keuntungan? Jawapannya ada, iaitu organisasi bukan kerajaan (NGO, Non-Government Organization) yang lebih bermatlamatkan kebajikan ahli dan aktiviti pertubuhan sepertimana yang ditetapkan.
• Di antara rujukan (benchmark) yang dibuat ialah perbandingan keadaan semasa dengan masa lepas atau mengikut piawai industri atau ‘norm’ semasa.
• Persoalannya berapa kerapkah analisis kewangan perlu dilakukan? Kekerapan bergantung kepada saiz perniagaan, walau bagaimanapun sebaik-baiknya dilakukan setiap bulan atau sekurang-kurangnya tiga bulan sekali.
Di antara maklumat yang terdapat di dalam penyata kewangan ialah:
a) Aset
b) Liabiliti
c) Ekuiti
d) Pendapatan dan Belanja
e) Aliran Tunai
Kriteria penyata kewangan yang baik ialah ianya mestilah jelas, tepat, konsisten, mengikut masa yang ditetapkan serta mudah difahami. Aktiviti-aktiviti perniagaan yang dijalankan oleh pihak pengurusan dalam sesuatu tempoh masa, serta kedudukan kewangan pada akhir tempoh berkenaan perlu diukur. Maklumat tersebut pula kemudiannya perlu dilaporkan untuk pengetahuan pihak-pihak yang berminat.
Ada di antara laporan seperti Penyata Pendapatan (atau Penyata Untung Rugi) ditunjukkan dalam bentuk peratus dari peratusan jumlah jualan atau peratusan jumlah asset. Seterusnya dikira pula jumlah buruh dari peratusan jualan (Labor as % of sales), pengiklanan dari peratus jualan (Advertising as % of sales) atau jumlah hutang dari peratus jualan (Debt as % of sales).
Komponen Penyata Kewangan
Satu set lengkap penyata kewangan perlu ada:
a. Kunci Kira-kira (balance sheet)
b. Penyata Pendapatan (atau Penyata Untung Rugi)
c. Satu penyata yang menunjukkan sama ada:
i) segala perubahan dalam ekuiti; atau
ii) perubahan-perubahan dalam ekuiti selain daripada urusniaga yang meningkatkan modal pemilik dan agihan kepada pemilik.
d. Penyata Aliran Tunai
e. Polisi perakaunan dan nota penjelasan (explanatory notes)
a. Kunci Kira-kira (balance sheet)
a. Kunci Kira-kira (balance sheet)
Kunci kira-kira ialah ringkasan kedudukan kewangan perniagaan pada masa tertentu. Ia menyenaraikan semua yang dimiliki atau dihutang oleh sesuatu perniagaan, atau dilaburkan oleh pemilik perniagaan pada suatu masa tertentu. Sebarang harta yang dimiliki perniagaan dipanggil aset, manakala tanggungan atau hutang dipanggil liabiliti. Kunci Kira-kira disediakan pada akhir tempoh perakaunan. Pada laporan Kunci Kira-kira perlu mengandungi butiran berikut:
a) Harta tanah, loji dan peralatan
b) Aset tak ketara
c) Aset Kewangan (tidak termasuk amaun yang ditunjukkan di bawah d), f) dan g))
d) Pelaburan
e) Inventori – merangkumi harta persendirian seperti ternakan, jentera pembajak, getah keping, stok, dan harta seperti tanah dan bangunan. Unit fizikal seperti guni, tan, dan ekor digunakan untuk merekod segala jenis harta. Semua butiran dalam inventori di nilai dalam Ringgit Malaysia.
f) Belum terima dagangan dan belum terima lain
g) Tunai dan kesetaraan tunai
h) Belum bayar dagangan dan belum bayar lain
i) Liabiliti cukai dan aset cukai
j) Peruntukan
k) Liabiliti berfaedah bukan semasa.
l) Kepentingan minority
m) Modal diterbitkan dan rezab.
Beberapa ukuran kedudukan dan kekukuhan kewangan perniagaan yang boleh dikesan dengan melihat Kunci Kira-kira ialah:
i) Kemampu bayaran – dilihat sama ada jumlah aset lebih besar dari jumlah liabiliti, dan seterusnya dapat menentukan perniagaan mampu membayar hutang ataupun tidak mampu membayar hutang
ii) Kecairan – menentukan keupayaan perniagaan mencipta tunai bagi memenuhi keperluan tanpa mengganggu kegiatan pengeluaran perniagaan.
iii) Nilai bersih atau ekuiti pemilik – iaitu jumlah baki wang bagi pemilik perniagaan setelah memenuhi keperluan kecairan dan membayar segala tanggungan perniagaan.
Format biasa Kunci Kira-kira
Aset Liabiliti
Aset semasa xx Liabiliti Semasa xx
Aset pertengahan xx Liabiliti Pertengahan xx
Aset tetap xx Liabiliti Jangka panajang xx
Jumlah liabiliti xx
Nilai bersih xx
Jumlah aset xxx Jumlah liabiliti dan nilai bersih xxx
Setelah membincangkan teknik-teknik pemasaran dalam perniagaantani pada bulan lepas, perbincangan pada bulan Oktober 2008 (bersamaan bulan Syawwal 1429 Hijrah) akan menumpukan perbincangan penggunaan penyata kewangan seperti Kunci Kira-kira, Penyata Pendapatan (atau dipanggil juga penyata Untung Rugi) dan Penyata Aliran Tunai.
Persoalan yang sering ditanya ialah: Mengapakah penyata kewangan berguna dalam Pengurusan Perniagaantani? Sebenarnya Penyata kewangan merupakan satu laporan yang digunakan oleh pengguna maklumat perakaunan seperti pemberi pinjaman (lenders), pelabur (investors), pekerja (employees), pembekal (suppliers), Jabatan Hasil Dalam Negeri dan usahawan sendiri.
Penyata kewangan yang lengkap dapat memberi gambaran kedudukan kewangan sesebuah perniagaan, kemampuan entiti perniagaan membayar semula pinjaman yang dibuat, cara perlaksanaan perniagaan, trend perniagaan (dari segi jualan, kos pengeluaran, kos tidak langsung dan upah), keluaran output, prestasi (output/input buruh) dan kedudukan aliran tunai perniagaan. Dari analisis kewangan tersebut kita dapat menentukan kejayaan perniagaan yang dibuat, apakah masalah dan peluang yang ada dari perniagaan, dan apakah alternatif atau tindakan yang perlu dibuat untuk membolehkan perniagaan ditingkatkan prestasinya. Pelabur pula boleh menganalisis potensi pulangan dari pelaburan yang dibuat (Return on Investment, ROI). Keuntungan yang didapati dari aktiviti jualan yang menghasilkan hasil (revenue) kepada entiti perniagaan dan ditolak kos (cost) dari operasi pengeluaran barangan dan perkhidmatan dapat menunjukkan keupayaan dan kebolehan pembuat keputusan di dalam sesebuah organisasi. Pengerusi Eksekutif (CEO, Chief Executive Officer), Ahli Lembaga Pengarah dan pengurusan sesebuah organisasi sangat mementingkan keuntungan dalam organisasi perniagaan mereka. Adakah organisasi yang ditubuhkan tidak bermatlamatkan keuntungan? Jawapannya ada, iaitu organisasi bukan kerajaan (NGO, Non-Government Organization) yang lebih bermatlamatkan kebajikan ahli dan aktiviti pertubuhan sepertimana yang ditetapkan.
• Di antara rujukan (benchmark) yang dibuat ialah perbandingan keadaan semasa dengan masa lepas atau mengikut piawai industri atau ‘norm’ semasa.
• Persoalannya berapa kerapkah analisis kewangan perlu dilakukan? Kekerapan bergantung kepada saiz perniagaan, walau bagaimanapun sebaik-baiknya dilakukan setiap bulan atau sekurang-kurangnya tiga bulan sekali.
Di antara maklumat yang terdapat di dalam penyata kewangan ialah:
a) Aset
b) Liabiliti
c) Ekuiti
d) Pendapatan dan Belanja
e) Aliran Tunai
Kriteria penyata kewangan yang baik ialah ianya mestilah jelas, tepat, konsisten, mengikut masa yang ditetapkan serta mudah difahami. Aktiviti-aktiviti perniagaan yang dijalankan oleh pihak pengurusan dalam sesuatu tempoh masa, serta kedudukan kewangan pada akhir tempoh berkenaan perlu diukur. Maklumat tersebut pula kemudiannya perlu dilaporkan untuk pengetahuan pihak-pihak yang berminat.
Ada di antara laporan seperti Penyata Pendapatan (atau Penyata Untung Rugi) ditunjukkan dalam bentuk peratus dari peratusan jumlah jualan atau peratusan jumlah asset. Seterusnya dikira pula jumlah buruh dari peratusan jualan (Labor as % of sales), pengiklanan dari peratus jualan (Advertising as % of sales) atau jumlah hutang dari peratus jualan (Debt as % of sales).
Komponen Penyata Kewangan
Satu set lengkap penyata kewangan perlu ada:
a. Kunci Kira-kira (balance sheet)
b. Penyata Pendapatan (atau Penyata Untung Rugi)
c. Satu penyata yang menunjukkan sama ada:
i) segala perubahan dalam ekuiti; atau
ii) perubahan-perubahan dalam ekuiti selain daripada urusniaga yang meningkatkan modal pemilik dan agihan kepada pemilik.
d. Penyata Aliran Tunai
e. Polisi perakaunan dan nota penjelasan (explanatory notes)
a. Kunci Kira-kira (balance sheet)
a. Kunci Kira-kira (balance sheet)
Kunci kira-kira ialah ringkasan kedudukan kewangan perniagaan pada masa tertentu. Ia menyenaraikan semua yang dimiliki atau dihutang oleh sesuatu perniagaan, atau dilaburkan oleh pemilik perniagaan pada suatu masa tertentu. Sebarang harta yang dimiliki perniagaan dipanggil aset, manakala tanggungan atau hutang dipanggil liabiliti. Kunci Kira-kira disediakan pada akhir tempoh perakaunan. Pada laporan Kunci Kira-kira perlu mengandungi butiran berikut:
a) Harta tanah, loji dan peralatan
b) Aset tak ketara
c) Aset Kewangan (tidak termasuk amaun yang ditunjukkan di bawah d), f) dan g))
d) Pelaburan
e) Inventori – merangkumi harta persendirian seperti ternakan, jentera pembajak, getah keping, stok, dan harta seperti tanah dan bangunan. Unit fizikal seperti guni, tan, dan ekor digunakan untuk merekod segala jenis harta. Semua butiran dalam inventori di nilai dalam Ringgit Malaysia.
f) Belum terima dagangan dan belum terima lain
g) Tunai dan kesetaraan tunai
h) Belum bayar dagangan dan belum bayar lain
i) Liabiliti cukai dan aset cukai
j) Peruntukan
k) Liabiliti berfaedah bukan semasa.
l) Kepentingan minority
m) Modal diterbitkan dan rezab.
Beberapa ukuran kedudukan dan kekukuhan kewangan perniagaan yang boleh dikesan dengan melihat Kunci Kira-kira ialah:
i) Kemampu bayaran – dilihat sama ada jumlah aset lebih besar dari jumlah liabiliti, dan seterusnya dapat menentukan perniagaan mampu membayar hutang ataupun tidak mampu membayar hutang
ii) Kecairan – menentukan keupayaan perniagaan mencipta tunai bagi memenuhi keperluan tanpa mengganggu kegiatan pengeluaran perniagaan.
iii) Nilai bersih atau ekuiti pemilik – iaitu jumlah baki wang bagi pemilik perniagaan setelah memenuhi keperluan kecairan dan membayar segala tanggungan perniagaan.
Format biasa Kunci Kira-kira
Aset Liabiliti
Aset semasa xx Liabiliti Semasa xx
Aset pertengahan xx Liabiliti Pertengahan xx
Aset tetap xx Liabiliti Jangka panajang xx
Jumlah liabiliti xx
Nilai bersih xx
Jumlah aset xxx Jumlah liabiliti dan nilai bersih xxx
Sunday, September 14, 2008
3rd and 4th Tools to Manage a Marketing Program - Competitor Analysis and Analyzing customer needs
3. Competitor analysis
A thorough understanding of the competition is an important part of formulating any marketing strategy. Sometime firms business can be affected by niche players, international competitors, or more traditional competitors with new technology or products. Factors such as changes in markets condition, changes in consumer behavior, marketing strategy, and involvement of more aggressive firms in the business can influences agribusiness sales performance.
One simple but effective method for analyzing competition is completing a formal strength and weakness analysis for each competitor. This tool simply involves listing the key strengths and weaknesses of a competitor. With the list of strengths and weaknesses in hand, the marketer then focuses on the opportunities or threats each competitor presents. The final step in using this information is to develop a marketing strategy that capitalizes on the competitor’s weaknesses and take advantage of any opportunity that competitor vulnerabilities present.
4. Analyzing customer needs
There are a variety of tools available to the marketer to help them better understand the needs of their customers and prospect. Some of the tools are:
i)Qualitative Forecasts
a) Survey Techniques
• Expected Sales and Inventory Changes
• Consumers’ Expenditure Plans
One of the best ways to learn what customers think about a product or service is to ask the customers directly. By communicating directly with customers through surveys, interviews, and informal conversations, agribusinesses can gain much valuable information, which can help in formulating market plans. Market research relies heavily on surveys of various types of track customer attitudes through personal interviews, telephone interviews, or written surveys.
b) Opinion Polls or focus group techniques
• Business Executives
• Sales Force
• Consumer Intentions
Focus group interviews are other method of learning more about customer attitudes and one that is widely used by agribusiness marketers. Focus group interview is simply a discussion among six to ten customers or other individuals of interest, guided by a skilled moderator. It is not a formal interview so much as it is an informal discussion where people get to know each other well enough to talk freely.
The key success in a focus group interview is the synergistic effect of the informal discussion. The group chosen for the interview is extremely important. It must fairly represent the population of interest and it must be a group where free-flowing discussion is possible.
Focus group interviews can provide many new ideas and perceptions from the customer’s viewpoint about advertising programs, packaging, and quality of products, performance, and relative comparisons of competitors.
ii) Time-Series Analysis
• Secular Trend – Long-Run Increase or Decrease in Data
• Cyclical Fluctuations – Long-Run Cycles of Expansion and Contraction
• Seasonal Variation – Regularly Occurring Fluctuations
• Irregular or Random Influences
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill)
A thorough understanding of the competition is an important part of formulating any marketing strategy. Sometime firms business can be affected by niche players, international competitors, or more traditional competitors with new technology or products. Factors such as changes in markets condition, changes in consumer behavior, marketing strategy, and involvement of more aggressive firms in the business can influences agribusiness sales performance.
One simple but effective method for analyzing competition is completing a formal strength and weakness analysis for each competitor. This tool simply involves listing the key strengths and weaknesses of a competitor. With the list of strengths and weaknesses in hand, the marketer then focuses on the opportunities or threats each competitor presents. The final step in using this information is to develop a marketing strategy that capitalizes on the competitor’s weaknesses and take advantage of any opportunity that competitor vulnerabilities present.
4. Analyzing customer needs
There are a variety of tools available to the marketer to help them better understand the needs of their customers and prospect. Some of the tools are:
i)Qualitative Forecasts
a) Survey Techniques
• Expected Sales and Inventory Changes
• Consumers’ Expenditure Plans
One of the best ways to learn what customers think about a product or service is to ask the customers directly. By communicating directly with customers through surveys, interviews, and informal conversations, agribusinesses can gain much valuable information, which can help in formulating market plans. Market research relies heavily on surveys of various types of track customer attitudes through personal interviews, telephone interviews, or written surveys.
b) Opinion Polls or focus group techniques
• Business Executives
• Sales Force
• Consumer Intentions
Focus group interviews are other method of learning more about customer attitudes and one that is widely used by agribusiness marketers. Focus group interview is simply a discussion among six to ten customers or other individuals of interest, guided by a skilled moderator. It is not a formal interview so much as it is an informal discussion where people get to know each other well enough to talk freely.
The key success in a focus group interview is the synergistic effect of the informal discussion. The group chosen for the interview is extremely important. It must fairly represent the population of interest and it must be a group where free-flowing discussion is possible.
Focus group interviews can provide many new ideas and perceptions from the customer’s viewpoint about advertising programs, packaging, and quality of products, performance, and relative comparisons of competitors.
ii) Time-Series Analysis
• Secular Trend – Long-Run Increase or Decrease in Data
• Cyclical Fluctuations – Long-Run Cycles of Expansion and Contraction
• Seasonal Variation – Regularly Occurring Fluctuations
• Irregular or Random Influences
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill)
2nd Tools to Manage a Marketing Program - Sales Forecasting
2. Sales Forecasting
Sales forecasting involves estimating sales in dollars and physical units as accurately as possible for a specific period of time. Many times this means forecasting sales for the total market, and then determining what share of the market can be captured with a specific product or service.
Both short-term and long-term sales forecasts are useful for agribusiness. Short-term forecasts, usually one season or shorter for agribusiness firms, are useful in formulating current operating plans. In food firms, such forecast may be weekly or even daily. In a food service firm, like Kentucky Fried Chicken and Ayamas, forecasts may be hourly as the firm works to schedule food preparation to accommodate daily patterns. Longer-range sales forecasts are important for capacity and research and development decisions. In general, the longer the time period forecasted, the less accurate the forecast is likely to be.
Three types of forecast normally being used by agribusiness managers are: a) General Economic forecasts, b) Market forecasts, and c) Sales forecasts.
a) General Economic forecasts
General Economic forecasts considers broad factors that affect the total economy such as: government farm programs, inflation, the money supply, international affairs, exchange rates, population demographics, and a host of other factors.
b) Market forecasts
Agricultural economists continually monitor changing economic indicators that track or lead agricultural trends. Some use econometric models to predict demand for various products and commodities.
Factors determining farm market demand have been researched extensively. For example, agricultural economists have discovered various cycles in livestock production. Traditionally, cows cycled every 9 years. During these cycles, prices fell as the number of animals on feed increased, and profits declined. As a result, some less efficient producers exited from the market, livestock numbers dropped, and prices gradually increased.
Note that despite all the sophisticated techniques, forecasting market demand is far from an exact science. Random event such as unexpected weather, changes in consumer taste and preferences, a food safety scare, or an international crisis can play havoc with the most elaborate market demand forecast.
c) Sales forecasts
A sales forecast for a specific product within the firm is driven in part by the general economic forecast and the market forecast. Sales of a particular firm’s low fat yogurt are clearly influenced by general trends in the overall economy and trends in the market for dairy products.
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill.)
Sales forecasting involves estimating sales in dollars and physical units as accurately as possible for a specific period of time. Many times this means forecasting sales for the total market, and then determining what share of the market can be captured with a specific product or service.
Both short-term and long-term sales forecasts are useful for agribusiness. Short-term forecasts, usually one season or shorter for agribusiness firms, are useful in formulating current operating plans. In food firms, such forecast may be weekly or even daily. In a food service firm, like Kentucky Fried Chicken and Ayamas, forecasts may be hourly as the firm works to schedule food preparation to accommodate daily patterns. Longer-range sales forecasts are important for capacity and research and development decisions. In general, the longer the time period forecasted, the less accurate the forecast is likely to be.
Three types of forecast normally being used by agribusiness managers are: a) General Economic forecasts, b) Market forecasts, and c) Sales forecasts.
a) General Economic forecasts
General Economic forecasts considers broad factors that affect the total economy such as: government farm programs, inflation, the money supply, international affairs, exchange rates, population demographics, and a host of other factors.
b) Market forecasts
Agricultural economists continually monitor changing economic indicators that track or lead agricultural trends. Some use econometric models to predict demand for various products and commodities.
Factors determining farm market demand have been researched extensively. For example, agricultural economists have discovered various cycles in livestock production. Traditionally, cows cycled every 9 years. During these cycles, prices fell as the number of animals on feed increased, and profits declined. As a result, some less efficient producers exited from the market, livestock numbers dropped, and prices gradually increased.
Note that despite all the sophisticated techniques, forecasting market demand is far from an exact science. Random event such as unexpected weather, changes in consumer taste and preferences, a food safety scare, or an international crisis can play havoc with the most elaborate market demand forecast.
c) Sales forecasts
A sales forecast for a specific product within the firm is driven in part by the general economic forecast and the market forecast. Sales of a particular firm’s low fat yogurt are clearly influenced by general trends in the overall economy and trends in the market for dairy products.
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill.)
Tools to manage a marketing program
Agribusiness firms have to continuously develop and manage a marketing program. They have to look at customer behaviors, which are very demanding and keep changing. Competitors also normally continually introducing new products, services, and program. Unpredictable weather patterns further complicate market planning, and volatile agricultural commodity prices often cause the demand for farm supplies and services to fluctuate. Because of such complexities, agribusiness marketing strategies require a great deal of planning. Successful managers spend much time analyzing their market, assessing their own strengths and weakness, and mapping their strategic marketing plan.
Agrimarketers can use many market planning tools to assist them in the market planning process. Some of these tools are the marketing audit, sales forecasting, competitor analysis and analyzing customer needs.
1. The marketing audit
Purpose of the marketing audit:
• Agribusinesses can use marketing audit to examine the firm’s marketing objectives and its plan for accomplishing these objectives in light of its resources, the market conditions, and its distinctive strengths and weakness. This analysis very important for the firm to make sure the firm’s will get information for future planning and goal adjustment.
• Nearly every agribusiness and certainly all publicly owned companies have financial audits performed regularly by outside auditors to ensure that there are no discrepancies or oversights that could cause serious problems for the business and/or investors in the business. Similarly, a marketing audit is an objective examination of a company’s entire marketing program.
• The marketing audit examines the firm’s marketing objectives and its plan for accomplishing these objectives in light of its resources, the market conditions, and its distinctive strengths and weaknesses.
• There are 5 steps in doing marketing audit – i) Analyze Market success of each product, ii) Review Market conditions, iii) Identify Distinctive competencies, iv) Evaluate Marketing plan and objectives, and v) Study Human resources and organizational structure.
i) Analyze Market success of each product – this step involves estimating total market potential, determining the firm’s share of the market, and attempting to identify what factors are responsible for the firm’s market position with each product or service. The firms have to access what progress they have made toward achieving their marketing goals for each of its products.
The questions should be asked:
a) Did the firm miss the mark when assessing the needs of the target market?
b) Did competitors introduce new products or programs that caused problems for the firm’s marketing plan?
c) Did the firm fail to execute the plan effectively? or
d) Was the marketing goal too ambitious? For example, a fertilizer company has an objective of a 10 percent increase in fertilizer sales at a time when the rubber and palm oil sector under pressure from low price might be better served by creating a new objective of holding fertilizer sales constant, while devoting more resources to expanding sales to oversea market. It is important to note that while much focus is given to areas where performance was poor; there is another, equally important, perspective. An effective marketing audit also attempts to capture the insights provided by areas where performance was exceptional. If sales of new cooking oil are growing twice as fast as expected, the food firm should dig deeply into the situation to better understand why this is occurring, if it will continue, and how they can apply this success to other products.
ii) Review Market conditions – this step involves evaluation of external market factors and exploration of expected trends. The focuses here are about trends in technology, regulation and policies, general economic conditions, and the competitive environment. Marketers must challenge their previous assumptions, and generate new scenarios for the future they believe they will be moving into.
iii) Identify Distinctive competencies – this step involves evaluation of areas where the firm is particularly strong in relation to the competition. Distinctive competencies may include financial, human resource, marketing, and production advantages. For example, the financial support of hypermarket like TESCO and Carrefour must be strong compare to traditional Supermarket.
iv) Evaluate Marketing plan and objectives - this step involves evaluation of agribusiness’s overall marketing strategy, given a review of past performance in the firm’s target markets, a reexamination of the firm’s market environment, and a reassessment of the firm’s distinctive competencies. This step of the marketing audit should also consider how the marketing plan is to be implemented. A good plan will be ineffective if it is poorly implemented. Continuing to use the same channels of distribution because ‘that the way we always do it’ may be a poor choice. Do incentive travel packages offer the best type of sales promotion for dealers, or would it be best to return dollars in the form of rebate – or perhaps just sell at lower prices in the first place? Analysis of such implementation issues forces the marketer to think deeply about whether or not the current marketing strategy is still the correct one.
Given a through examination of where the firm has been and new forecasts for the future, the goal of this step is to make sure the firm’s market strategy still fits. This is sometimes called gap analysis. The gap is the difference between desired performance at some point in the future and what performance will be if the firm does not change marketing strategies. Obviously the bigger the gap, the greater the need for the firm to look again its marketing strategy.
v) Study Human resources and organizational structure – Given the critical role people and organizational structure play in the marketing process, this area deserves special attention. Are salespeople adequately trained to advice growers on technical matters? Should technical specialists in the field report to the area sales manager, or should they report to the home office? Does the organizational structure promote adequate cross-communications between salespeople, marketing staff, and the research and development department? Can available human resources and the current organizational structure support what the firm wants to accomplish in the future?
The marketing audit should perform as objectively as possible. Because it is sometimes difficult for managers to evaluate their program objectively (because they created it), managers should consider hiring an outsider to periodically review the program. A qualified consultant can evaluate a marketing program and raise important questions about the allocation of time, effort, and financial resources.
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill.)
Agrimarketers can use many market planning tools to assist them in the market planning process. Some of these tools are the marketing audit, sales forecasting, competitor analysis and analyzing customer needs.
1. The marketing audit
Purpose of the marketing audit:
• Agribusinesses can use marketing audit to examine the firm’s marketing objectives and its plan for accomplishing these objectives in light of its resources, the market conditions, and its distinctive strengths and weakness. This analysis very important for the firm to make sure the firm’s will get information for future planning and goal adjustment.
• Nearly every agribusiness and certainly all publicly owned companies have financial audits performed regularly by outside auditors to ensure that there are no discrepancies or oversights that could cause serious problems for the business and/or investors in the business. Similarly, a marketing audit is an objective examination of a company’s entire marketing program.
• The marketing audit examines the firm’s marketing objectives and its plan for accomplishing these objectives in light of its resources, the market conditions, and its distinctive strengths and weaknesses.
• There are 5 steps in doing marketing audit – i) Analyze Market success of each product, ii) Review Market conditions, iii) Identify Distinctive competencies, iv) Evaluate Marketing plan and objectives, and v) Study Human resources and organizational structure.
i) Analyze Market success of each product – this step involves estimating total market potential, determining the firm’s share of the market, and attempting to identify what factors are responsible for the firm’s market position with each product or service. The firms have to access what progress they have made toward achieving their marketing goals for each of its products.
The questions should be asked:
a) Did the firm miss the mark when assessing the needs of the target market?
b) Did competitors introduce new products or programs that caused problems for the firm’s marketing plan?
c) Did the firm fail to execute the plan effectively? or
d) Was the marketing goal too ambitious? For example, a fertilizer company has an objective of a 10 percent increase in fertilizer sales at a time when the rubber and palm oil sector under pressure from low price might be better served by creating a new objective of holding fertilizer sales constant, while devoting more resources to expanding sales to oversea market. It is important to note that while much focus is given to areas where performance was poor; there is another, equally important, perspective. An effective marketing audit also attempts to capture the insights provided by areas where performance was exceptional. If sales of new cooking oil are growing twice as fast as expected, the food firm should dig deeply into the situation to better understand why this is occurring, if it will continue, and how they can apply this success to other products.
ii) Review Market conditions – this step involves evaluation of external market factors and exploration of expected trends. The focuses here are about trends in technology, regulation and policies, general economic conditions, and the competitive environment. Marketers must challenge their previous assumptions, and generate new scenarios for the future they believe they will be moving into.
iii) Identify Distinctive competencies – this step involves evaluation of areas where the firm is particularly strong in relation to the competition. Distinctive competencies may include financial, human resource, marketing, and production advantages. For example, the financial support of hypermarket like TESCO and Carrefour must be strong compare to traditional Supermarket.
iv) Evaluate Marketing plan and objectives - this step involves evaluation of agribusiness’s overall marketing strategy, given a review of past performance in the firm’s target markets, a reexamination of the firm’s market environment, and a reassessment of the firm’s distinctive competencies. This step of the marketing audit should also consider how the marketing plan is to be implemented. A good plan will be ineffective if it is poorly implemented. Continuing to use the same channels of distribution because ‘that the way we always do it’ may be a poor choice. Do incentive travel packages offer the best type of sales promotion for dealers, or would it be best to return dollars in the form of rebate – or perhaps just sell at lower prices in the first place? Analysis of such implementation issues forces the marketer to think deeply about whether or not the current marketing strategy is still the correct one.
Given a through examination of where the firm has been and new forecasts for the future, the goal of this step is to make sure the firm’s market strategy still fits. This is sometimes called gap analysis. The gap is the difference between desired performance at some point in the future and what performance will be if the firm does not change marketing strategies. Obviously the bigger the gap, the greater the need for the firm to look again its marketing strategy.
v) Study Human resources and organizational structure – Given the critical role people and organizational structure play in the marketing process, this area deserves special attention. Are salespeople adequately trained to advice growers on technical matters? Should technical specialists in the field report to the area sales manager, or should they report to the home office? Does the organizational structure promote adequate cross-communications between salespeople, marketing staff, and the research and development department? Can available human resources and the current organizational structure support what the firm wants to accomplish in the future?
The marketing audit should perform as objectively as possible. Because it is sometimes difficult for managers to evaluate their program objectively (because they created it), managers should consider hiring an outsider to periodically review the program. A qualified consultant can evaluate a marketing program and raise important questions about the allocation of time, effort, and financial resources.
(Reference: Erickson, S., Ckridge, J. T., Barnard, F. & Downey, D. (2001). Agribusiness Management. (3rd. ed.). New York: McGraw-Hill.)
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