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Tugas Akhir Analisis Resiko TUGAS AKHIR ANALISIS RESIKO KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE PADA PT. BENTOEL INTERNASIONAL INVESTAMA,Tbk (PERIODE 2017-2019) OLEH : PASU LAMTIUR SIHOMBING 172101016 Guna Memenuhi Salah Satu Syarat Untuk Menyelesaikan Pendidikan Pada Program Diploma III PROGRAM STUDI DIPLOMA IIIKEUANGAN FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS SUMATERA UTARA MEDAN 2021 Universitas Sumatera Utara Universitas Sumatera Utara Universitas Sumatera Utara KATA PENGANTAR Puji dan syukur penulis panjatkan ke hadirat Tuhan yang Maha Esa,yang telah melimpahkan rahmat dan berkatnya kepada penulis,sehingga dapat melaksanakan dan menyelesaikan Tugas Akhir ini dengan baik. Tugas Akhit ini adalah laporan pertanggungjawaban penulis dan salah satu syarat menyelesaikan Pendidikan Diploma D3 Keuangan Fakultas Ekonomi dan Bisnis Universitas Sumatra Utara,judul yang diangkat penulis adalah “Analisis Resiko Kebangkrutan dengan Metode Altman Z-Score pada Perusahaan PT. Bentoel Internasional Investama Tbk Periode 2017 – 2019” Selama penyusunan tugas akhir ini banyak pihak yang telah memberikan bantuan dan motivasi kepada penulis. Untuk semuanya itu, peneliti mengucapkan terima kasih yang sebesar-besarnya kepada: 1. Bapak Prof. Dr Ramli, SE, MS selaku Dekan Fakultas Ekonomi dan Bisnis Universitas Sumatra Utara. 2. Bapak Drs. Bongsu Hutagalung, MSi selaku Ketua Prodi D3 keungan Fakultas Ekonomi dan Bisnis Universitas Sumatra Utara. 3. Ibu Yasmin Chairunisa Muchtar, SP.,MBA. selaku Sekretaris Program Diploma III Keuangan Fakultas Ekonomi dan Bisnis Universitas Sumatera Utara. 4. Ibu Dr. Yeni Absah SE.,MSi selaku dosen pembimbing peneliti yang telah memberikan waktu dan bimbingan serta arahan yang bermanfaat bagi peneliti. i Universitas Sumatera Utara 5. Bapak Dr. Syafrizal Helmi Situmorang SE,MSi selaku dosen penguji peneliti yang telah memberikan kritikan serta saran yang sangat membantu dalam penyempurnaan Tugas Akhir ini. 6. Kepada kedua orang tua saya yang telah berjuang dan memberikan semangat, motivasi juga masukan kepada peneliti. 7. Kepada Abang Saya Halasson Sihombing yang telah memberikan dukungan dan doa kepada peneliti. 8. Kepada Teman Saya Christina Fara Sihombing dan Anthon Sihombing yang telah membantu dan mendukung peneliti. 9. Seluruh Rekan Badan Pengurus Harian Ikatan Mahasiswa Dairi 2019/2020 memberikan dukungan dan semangat kepada saya. 10. Seluruh teman-teman Cell Grup 26 Penuai Indonesia yang telah memberikan dukungan dan doa kepada saya. Peneliti menyadari bahwa penulisan tugas akhir ini masih banyak kekurangan oleh karena itu peneliti mengharapkan saran dari semua pihak yang ingin memberikan saran baiknya demi perkembangan positif bagi peneliti. Demikian tugas akhir ini peneliti susun, semoga bermanfaat bagi semua pihak dan penulis sendiri. Akhir kata peneliti ucapkan terima kasih. Medan, 2020 Peneliti Pasu Lamtiur Sihombing NIM.172101016 ii Universitas Sumatera Utara DAFTAR ISI Halaman KATA PENGANTAR .................................................................................... i DAFTAR ISI ................................................................................................... iii DAFTAR TABEL........................................................................................... iv DAFTAR GAMBAR ...................................................................................... v DAFTAR LAMPIRAN .................................................................................. vi BAB I PENDAHULUAN 1.1 Latar Belakang Masalah ................................................................ 1 1.2 Rumusan Masalah ......................................................................... 4 1.3 Tujuan Penelitian........................................................................... 5 1.4 Manfaat Penelitian......................................................................... 5 1.5 Jadwal Kegiatan ............................................................................ 6 1.6 Sistematika Penelitian ................................................................... 6 BAB II PROFIL PT. BENTOEL INTERNASIONAL INVESTMA TBK 2.1 Sejarah PT. Bentoel Internasonal Investama Tbk ....................... 8 2.2 Visi dan Misi PT. Bentoel Internasional Investama Tbk .............. 10 2.3 Logo PT Bentoel Internasional Investama Tbk............................. 11 2.4 Struktur organisasi PT. Bentoel Internasional Investma Tbk ....... 11 2.5 Jobs Describsion PT. Bentoel Internasional Investma Tbk ........... 13 2.6 Kinerja Usaha Terkini PT. Bentoel Internasional Investma Tbk .. 14 BAB III PEMBAHASAN 3.1 Laporan Keuangan ........................................................................ 15 3.2 Tujuan Laporan Keuangan ............................................................ 17 3.3 Manfaat Laporan Keuangan .......................................................... 18 3.4 Keterbatan Laporan Keuangan ...................................................... 18 3.5 Pengertian Kebangkrutan .............................................................. 19 3.6 Penyebab Kebangkrutan ................................................................ 21 3.7 Pihak-Pihak yang berkepentingan dalam analisis Kebangkrutan . 24 3.8 Analisis Rasio Keuangan dalam Altman Z-Score ......................... 26 3.9 Model Perhitungan Altman Z-Score ............................................ 29 3.10 Analisis Resiko Kebangkrutan dengan metode Altman Z-score 32 BAB IV KESIMPULAN DAN SARAN 4.1 Kesimpulan.................................................................................... 37 4.2 Saran .............................................................................................. 36 DAFTAR PUSTAKA ..................................................................................... 38 iii Universitas Sumatera Utara DAFTAR TABEL Nomor Judul Halaman Tabel 3.1 Perhitungan Analsis Resiko Kebangkrutan pada tahun 2017 .......... 32 Tabel 3.2 Perhitungan Analisis Resiko Kebangkrutan pada tahun 2018 ........... 33 Tabel 3.3 Perhitungan Analsis Resiko Kebangkrutan pada tahun 2019 ........... 34 iv Universitas Sumatera Utara DAFTAR GAMBAR Nomor Judul Halaman Gambar 2.1 Logo PT. Bentoel Internasional Investama Tbk....................... 11 Gambar 2.2 Struktur Organisasi PT. Bentoel Internasional Investama Tbk 12 v Universitas Sumatera Utara DAFTAR LAMPIRAN Nomor Judul Halaman Lampiran 1 Laporan Posisi Keuangan PT. Bentoel Internasional Investma Tbk tahun 2016 – 2018 .............................................................. 40 Lampiran 2 Laporan Laba Rugi Dan Penghasilan Komperhensif Lain Konsolidasi PT. Bentoel Internasional Investama Tbk ............. 44 vi Universitas Sumatera Utara BAB I PENDAHULUAN 1.1 Latar Belakang Perushaan Industri Rokok di Indonesia telah berkembang dari sebuah indutri tradisional menjadi salah satu sektor manufaktur yang penting dalam hal nilai tambah lapangan kerja dan pendapatan pemerintah. Sebagaimana juga diketahui industri rokok disatu sisi menyediakan lapangan kerja yang sangat besar,cukai rokok juga diyakini merupakan salah satu pendapatan negara. Akan tetapi pada saat ini industri rokok mengalami penurunan yang diakibatkan Virus Covid-19 yang dimana membuat kenaikan terhadap harga cukai yang menjadi bahan dari rokok tersebut.. Selain itu, perusahaan juga dituntut untuk meningkatkan dan memantapkan posisi usahanya dalam rangka untuk mencapai keunggulan posisi bisnis (Business Advantages). Kondisi yang demikian menuntut perusahaan untuk selalu mengembangkan strategi perusahaan agar terhindar dari resiko kebangkrutan . Kebangkrutan biasanya diartikan sebagai kegagalan perusahaan dalam menjalankan operasi perusahaan untuk menghasilkan laba. “Menurut UU No. 4 Tahun 1998 tentang kebangkrutan, yang menyebutkan: Debitor yang mempunyai dua atau lebih kreditur dan tidak membayar sedikitnya satu utang yang telah jatuh waktu dan dapat ditagih, dinyatakan pailit dengan putusan pengadilan yang berwenang” (Hartini 2009:71). Menurut Sylviana dan Rachmawati (2016:65), Kebangkrutan merupakan suatu keadaan atau situasi dimana perusahaan gagal atau tidak mampu lagi memenuhi kewajiban-kewajiban karena perusahaan 1 Universitas Sumatera Utara 2 mengalami kekurangan dan ketidakcukupan dana untuk menjalankan atau melanjutkan usahanya sehingga tujuan ekonomi yang ingin dicapai oleh perusahaan tidak bisa dicapai.Kebangkrutan tidak akan datang dengan tiba-tiba melainkan melalui proses atau tahapan, sebelum mengalami kebangkrutan perusahaan akan mengalami kondisi kesulitan keuangan yang dapat dilihat dalam laporan keuangan Laporan keuangan yang diterbitkan oleh perusahaan merupakan salah satu sumber informasi mengenai posisi keuangan perusahaan, kinerja serta perubahan posisi keuangan perusahaan, yang sangat berguna untuk mendukung pengambilan keputusan yang tepat. Agar informasi yang tersaji menjadi lebih bermanfaat dalam pengambilan keputusan, data keuangan harus dikonversi menjadi informasi yang berguna dalam pengambilan keputusan ekonomis. Hal ini ditempuh dengan cara melakukan analisis laporan keuangan agar mengetahui resiko kebangkrutan perusahaan. Untuk mengetahui suatu tingkat atau resiko kebangkrutan pada suatu perusahaan diperlukan suatu analisis terhadap kebangkrutan dimana analisis ini dilakukan untuk memperoleh peringatan awal terhadap tanda-tanda kebangkrutan. Semakin awal tanda-tanda tersebut diketahui, semakin baik bagi pihak manajemen untuk dapat melakukan perbaikan. Berbagai metode analisis dikembangkan untuk mengetahui resiko awal kebangkrutan perusahaan. Salah satu rumusan matematis untuk memprediksi kebangkrutan
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