Margin is a term used in the financial world to indicate a mandatory insurance placed by the holder of a position (sell or buy) the security trade, options or futures contracts to protect the credit risk of the partner counterweight (counterparty). Increased risk will occur if the holder to one of the following actions:
* To borrow cash from partners counterweight to buy a security or option
* Conducting security sales or option by how short selling
* To be parties to a futures contract
This guarantee can be in the form of cash or securities placed in a special account called a "margin account". In the U.S. futures exchanges term used officially for this margin is guaranteed performance.
Margin purchases is the purchase of a security by way of some purchases using their own funds and partly using funds borrowed from a stockbroker. This can increase the impact and increase the profit losses. Security is used as a guarantee of the loan. The net value is the difference between security and the value of the loan value is the value of own capital is used in the original purchase. The difference is what should always be kept above the "value of the minimum margin requirement" determined to protect the broker from the fall of security prices to be below the value of the guaranteed debt.
In the era of the 1920s, very free margin requirements where only a very small percentage of the funds themselves are used by investors in buying shares. When shocks on the capital market where the net value of the security falls rapidly below the minimum margin requirements, is forcing investors to sell the position. This is what became one of the factors that play a role in the American stock market crash in 1929 which eventually resulted in the Great Depression.
Margin payment now
Margin payment or current now liquidating margin is the value of the security position if the current will be cashed. In other words, if the holder has a position of "short", this value is the value of the money required to make purchases again, when he was on posis "long" then this value is the value that you obtained by selling the position
Sabtu, 12 September 2009
Derivatif
In the world of finance (finance), a derivative is a bilateral contract or payment exchange agreement whose value is derived, or derived from the product to be "reference point" or also called "derivative works" (the underlying product); than trade or exchange of a physical asset, market participants make a mutual agreement to exchange money, assets or a value disuatu future with reference to the assets that became the subject of reference.
Derivatives are used by investment management / portfolio management, corporate and financial institutions and individual investors to manage their positions against the risk of price movements of stocks and commodities, interest rates, foreign currency exchange rates "without" affecting the physical position of the reference product (underlying ).
There are many financial instruments that can be categorized in groups of derivatives but the options / futures and swap contracts are commonly known.
* Option
! Main article for this section are: Option (finance)
Options are contracts where one party agrees to pay a reward to the other party to a "right" (but not the obligation) to buy something or sell something to another party; like only someone who worry that the price of the stock will fall XXX before he could sell it, so he pays compensation to another person (called "vendors" selling the option / put option) that agree to buy the stock than the price specified in the (strike price). Buyers use this option to manage the risk of falling value of the stock selling XXX has, on the other side of the option buyer may use the transaction to acquire the option fee and may already have a picture that the sale price of XXX will not be down.
As opposed to selling the option is an option to buy, or so-called call option which the purchase option gives the buyer the option to option rights to purchase the reference assets (underlying asset) at a date agreed with the price determined or known as the option strike
Derivatives are used by investment management / portfolio management, corporate and financial institutions and individual investors to manage their positions against the risk of price movements of stocks and commodities, interest rates, foreign currency exchange rates "without" affecting the physical position of the reference product (underlying ).
There are many financial instruments that can be categorized in groups of derivatives but the options / futures and swap contracts are commonly known.
* Option
! Main article for this section are: Option (finance)
Options are contracts where one party agrees to pay a reward to the other party to a "right" (but not the obligation) to buy something or sell something to another party; like only someone who worry that the price of the stock will fall XXX before he could sell it, so he pays compensation to another person (called "vendors" selling the option / put option) that agree to buy the stock than the price specified in the (strike price). Buyers use this option to manage the risk of falling value of the stock selling XXX has, on the other side of the option buyer may use the transaction to acquire the option fee and may already have a picture that the sale price of XXX will not be down.
As opposed to selling the option is an option to buy, or so-called call option which the purchase option gives the buyer the option to option rights to purchase the reference assets (underlying asset) at a date agreed with the price determined or known as the option strike
Credit (finance)
Credit is a financial facility that allows a person or business entity to borrow money to buy products and pay it back within a specified time period. Law No. 10 in 1998 states that credit is the provision of money or bills that can be equated with that, based on the approval or agreement to borrow loans between banks by another party that requires the borrower to repay the debt after a certain period with the provision of remote interest. If someone uses a credit services, it will attract interest charges.
Contents
Credit Terms
When banks lend money to customers, the bank certainly expect their money back. Therefore, to minimize risk (the money is not returned, for example), in providing bank loans should consider a few things related to good faith (willingness to pay) and the ability to pay (ability to pay) customers to pay back the loan with interest. These consist of Character (personality), Capacity (capacity), Capital (capital), Colateral (guarantee), and Condition of Economy (economic conditions), or often referred to as the 5C (five C).
[edit] Characters
Character, nature, customs debtor (party who owes) is very influential in the provision of credit. Creditor (the lender) can investigate whether the debtor entered into the Register of the despicable (DOT) or not. For that creditors can also examine his bio and information from their business environment. Information from the business environment can be obtained from the supplier and customer of the debtor. Moreover, it can also be obtained from Central Bank information, but can not be obtained easily by the general public, because the information is accessible only by employees of the Bank's credit by using the password and the computer connected on-line with the central bank.
Capacity
Capacity is related to the ability of a debtor to repay their loans. To measure, creditors may examine the debtor's ability in management, finance, marketing, and others.
[edit] Capital
By looking at the amount of capital owned by the debtor or to see how much capital invested in the business debtors, creditors can assess the debtor's capital. The more capital invested, the debtor would be considered more seriously in business.
[edit] Security
Required to guarantee in case the debtor can not repay loans. Usually the value of collateral is higher than the loan amount.
[edit] Economic Conditions
Economic conditions in the surrounding residential debtor also must be considered to take into account the economic conditions that will occur in the future. Economic conditions that need to be considered among other issues the public's purchasing power, market area, competition, technological developments, raw materials, capital markets, and so forth.
Contents
Credit Terms
When banks lend money to customers, the bank certainly expect their money back. Therefore, to minimize risk (the money is not returned, for example), in providing bank loans should consider a few things related to good faith (willingness to pay) and the ability to pay (ability to pay) customers to pay back the loan with interest. These consist of Character (personality), Capacity (capacity), Capital (capital), Colateral (guarantee), and Condition of Economy (economic conditions), or often referred to as the 5C (five C).
[edit] Characters
Character, nature, customs debtor (party who owes) is very influential in the provision of credit. Creditor (the lender) can investigate whether the debtor entered into the Register of the despicable (DOT) or not. For that creditors can also examine his bio and information from their business environment. Information from the business environment can be obtained from the supplier and customer of the debtor. Moreover, it can also be obtained from Central Bank information, but can not be obtained easily by the general public, because the information is accessible only by employees of the Bank's credit by using the password and the computer connected on-line with the central bank.
Capacity
Capacity is related to the ability of a debtor to repay their loans. To measure, creditors may examine the debtor's ability in management, finance, marketing, and others.
[edit] Capital
By looking at the amount of capital owned by the debtor or to see how much capital invested in the business debtors, creditors can assess the debtor's capital. The more capital invested, the debtor would be considered more seriously in business.
[edit] Security
Required to guarantee in case the debtor can not repay loans. Usually the value of collateral is higher than the loan amount.
[edit] Economic Conditions
Economic conditions in the surrounding residential debtor also must be considered to take into account the economic conditions that will occur in the future. Economic conditions that need to be considered among other issues the public's purchasing power, market area, competition, technological developments, raw materials, capital markets, and so forth.
Financial Analysis
Financial analysis used to assess business continuity, stability, profitability of a business, a sub project
or business.
Financial analysis performed by a professional who provides a report in the form of ratios that use the information as presented in the financial statements. This report is usually presented to top management of a business as a reference to taking a company policy.
Based on the results of this analysis, the management may decide a variety of management decisions such as:
* Continuing or not to continue operating a business or part of an effort.
* To manufacture or purchase of raw materials in the production process
* To purchase or lease production machinery
* Doing the issuance of stock or are negotiating to obtain a bank loan to increase working capital the company.
* Various other decisions that allow management to do the right choice for a variety of alternatives in managing the company.
The purpose of financial analysis
Financial analysis is often considered an effort by:
1. Profitability is the company's ability to generate a profit and sustain growth for both short and long term. Corporate profitability is usually seen from the company income statement (income statement) that shows the performance results the company reports.
2. Solvency is the company's ability to meet all its obligations, as measured by a comparison of all liabilities of all assets and the ratio of all liabilities to equity
3. Liquidity is the company's ability to meet obligations smoothness measured by using a comparison between the current assets to current liabilities.
4. Stability is the company's ability to maintain its business in the long term without having to suffer losses. To assess the stability of the company to use an income statement and balance sheet (balance sheet) companies and various financial indicators and other non-financial.
Method
Financial analysis often uses financial ratios of solvency, profitability, business growth.
* Performance of the past for a certain period eg during 5 years
* Performance future: using past performance figures and mathematical and statistical techniques, including the present value and future value. This calculation method is the cause of the financial analysis error statistics of the past which can lead to lower future predictions.
* Compare the performance of comparing performance between companies in similar industries
or business.
Financial analysis performed by a professional who provides a report in the form of ratios that use the information as presented in the financial statements. This report is usually presented to top management of a business as a reference to taking a company policy.
Based on the results of this analysis, the management may decide a variety of management decisions such as:
* Continuing or not to continue operating a business or part of an effort.
* To manufacture or purchase of raw materials in the production process
* To purchase or lease production machinery
* Doing the issuance of stock or are negotiating to obtain a bank loan to increase working capital the company.
* Various other decisions that allow management to do the right choice for a variety of alternatives in managing the company.
The purpose of financial analysis
Financial analysis is often considered an effort by:
1. Profitability is the company's ability to generate a profit and sustain growth for both short and long term. Corporate profitability is usually seen from the company income statement (income statement) that shows the performance results the company reports.
2. Solvency is the company's ability to meet all its obligations, as measured by a comparison of all liabilities of all assets and the ratio of all liabilities to equity
3. Liquidity is the company's ability to meet obligations smoothness measured by using a comparison between the current assets to current liabilities.
4. Stability is the company's ability to maintain its business in the long term without having to suffer losses. To assess the stability of the company to use an income statement and balance sheet (balance sheet) companies and various financial indicators and other non-financial.
Method
Financial analysis often uses financial ratios of solvency, profitability, business growth.
* Performance of the past for a certain period eg during 5 years
* Performance future: using past performance figures and mathematical and statistical techniques, including the present value and future value. This calculation method is the cause of the financial analysis error statistics of the past which can lead to lower future predictions.
* Compare the performance of comparing performance between companies in similar industries
Financial Ratios
Financial ratios or financial ratio analysis is a tool for assessing a company's financial performance based on comparisons of a company's financial data contained in the heading of financial statements (balance sheets, statements of income / loss, cash flow statements). The ratio describes the relationship or balance between the (mathematical relationship) between a certain amount by the number of others.
Ratio analysis can be used to guide investors and creditors to make decisions or consideration of the company's achievements and prospects in the future. One way of processing and interpreting accounting information, which is expressed in relative and absolute terms to describe a particular relationship between the number one with another number of a financial report.
Financial ratio analysis using financial reporting data that already exist as a basis for assessment. Although based on the data and conditions of the past, financial ratio analysis is intended to assess the risks and opportunities in the future. Measurements and relationships of the post with another post in the financial statements which appear in the financial ratios can provide meaningful conclusions in determining the level of financial health of a company. But if only for one ratio means it is not enough, so the analysis must be done also rivalries that are faced by corporate management in the wider industry, and combined with qualitative analysis of business and manufacturing industry, qualitative analysis, as well as industrial research .
Types of Financial Ratios
In general, financial ratios can be classified as follows:
1. Liquidity ratio. This ratio is used to measure the ability of the company in ensuring smooth obligations. This ratio include cash ratio (cash ratio), ratio Quick (quick ratio) Current Ratio (current ratio)
2. Ratio lever / leverage. This ratio is used to measure the level of funding the management of the company. Some of these ratios include the ratio of Total Debt to Capital itself, Total Debt to Total Assets, TIE Times Interest Earned.
3. Efficiency ratio / rotation. Turnover ratio is used to measure the company's ability to manage asset-assetnya providing cash flow for the company's entry. These ratios include Inventory Turnover Ratio, Fixed Assets Turnover, and Total Asset Turnover.
4. Profitability ratios. The ratio used to measure the ability of the company in generating profits for the company. These ratios include: GPM (Gross Profit Margin), OPM (Operating Profit Margin), NPM (Net Profit Margin), ROA (Return to Total Assets), ROE (Return On Equity).
5. Market Value Ratios. Which measures the ratio of market price relative to book value of the company. These ratios include: PER (Price Earning Ratio), Devidend Yield, Payout Ratio Devideng, PBV (Price to Book Value)
Ratio analysis can be used to guide investors and creditors to make decisions or consideration of the company's achievements and prospects in the future. One way of processing and interpreting accounting information, which is expressed in relative and absolute terms to describe a particular relationship between the number one with another number of a financial report.
Financial ratio analysis using financial reporting data that already exist as a basis for assessment. Although based on the data and conditions of the past, financial ratio analysis is intended to assess the risks and opportunities in the future. Measurements and relationships of the post with another post in the financial statements which appear in the financial ratios can provide meaningful conclusions in determining the level of financial health of a company. But if only for one ratio means it is not enough, so the analysis must be done also rivalries that are faced by corporate management in the wider industry, and combined with qualitative analysis of business and manufacturing industry, qualitative analysis, as well as industrial research .
Types of Financial Ratios
In general, financial ratios can be classified as follows:
1. Liquidity ratio. This ratio is used to measure the ability of the company in ensuring smooth obligations. This ratio include cash ratio (cash ratio), ratio Quick (quick ratio) Current Ratio (current ratio)
2. Ratio lever / leverage. This ratio is used to measure the level of funding the management of the company. Some of these ratios include the ratio of Total Debt to Capital itself, Total Debt to Total Assets, TIE Times Interest Earned.
3. Efficiency ratio / rotation. Turnover ratio is used to measure the company's ability to manage asset-assetnya providing cash flow for the company's entry. These ratios include Inventory Turnover Ratio, Fixed Assets Turnover, and Total Asset Turnover.
4. Profitability ratios. The ratio used to measure the ability of the company in generating profits for the company. These ratios include: GPM (Gross Profit Margin), OPM (Operating Profit Margin), NPM (Net Profit Margin), ROA (Return to Total Assets), ROE (Return On Equity).
5. Market Value Ratios. Which measures the ratio of market price relative to book value of the company. These ratios include: PER (Price Earning Ratio), Devidend Yield, Payout Ratio Devideng, PBV (Price to Book Value)
Effect financial
Securities or in terms of English language called security is a valuable securities and can be traded. The effect can be classified as debt and equity such as bonds and stocks. Companies or institutions that issue securities called publishers. Securities may consist of a confession debt, commercial paper, stocks, bonds, units of collective investment contracts (such as mutual funds, futures contracts on securities, and any derivatives of securities. Qualifications of an effect is different according to the rules in each country.
The effect can be can be a certificate or an electronic record that is:
* Certificate of performance means that the rightful owner of these securities is / holder of securities.
* The certificate on behalf of the owner of securities that is the rightful owner of these effects is that names are registered on the list held by the issuer or the securities bureau records.
Classification effects
The classification is based on the effects of the following categories:
* Company securities issuer
* Denomination currency used
* The right of ownership
* Maturity period
* The level of liquidity effects
* Payment of interest
* Tax Treatment
Publisher effect
The publisher is the effect of commercial companies, government agencies, local governments, and international and supranational organizations like the World Bank. IOU issued by a government referred to as government bonds (in English called government bonds or sovereign bonds) which usually have interest rates lower than corporate bonds
The effect can be can be a certificate or an electronic record that is:
* Certificate of performance means that the rightful owner of these securities is / holder of securities.
* The certificate on behalf of the owner of securities that is the rightful owner of these effects is that names are registered on the list held by the issuer or the securities bureau records.
Classification effects
The classification is based on the effects of the following categories:
* Company securities issuer
* Denomination currency used
* The right of ownership
* Maturity period
* The level of liquidity effects
* Payment of interest
* Tax Treatment
Publisher effect
The publisher is the effect of commercial companies, government agencies, local governments, and international and supranational organizations like the World Bank. IOU issued by a government referred to as government bonds (in English called government bonds or sovereign bonds) which usually have interest rates lower than corporate bonds
Option finance
Option, the world capital markets, is a right which is based on an agreement to buy or sell a commodity, financial securities, or a foreign currency at a rate agreed upon price (set in advance) at any time within a period of three months contract. [1] option can be used to minimize risk and maximize profits at the same time with the leverage (leverage) is greater.
Purchasing options
Option to buy, or better known as the call option, is a right to buy an asset at a deal price (strike price) and within a certain time period agreed upon, either at the end of the maturity date or the grace period between the time prior to maturity. In this purchase option is called the 2 parties:
* Buyers purchasing options, or so-called call option buyer or too long call
* Sellers option to buy or is often called the call option seller or too short call
elling options
Option selling, or better known as the put option, is a right to sell an asset at a deal price (strike price) and within a certain time period agreed upon, either at the end of a maturity or period of time prior to maturity. At the sale option is also called the 2 parties:
* The buyer or selling an option called a put option buyer or too long a put
* Sellers option to buy or often called a put option seller or too short a put
This instrument is called an option because this agreement provides the "right" to the option holder to decide whether to implement or not (or so-called exercise) of options held, namely the right to buy (purchase option) or the right to sell (the option to sell) and the who sells the option or the so-called "publishing option" "must" to fulfill the right option from the option holders in accordance with the agreed terms. [2]
Purchasing options
Option to buy, or better known as the call option, is a right to buy an asset at a deal price (strike price) and within a certain time period agreed upon, either at the end of the maturity date or the grace period between the time prior to maturity. In this purchase option is called the 2 parties:
* Buyers purchasing options, or so-called call option buyer or too long call
* Sellers option to buy or is often called the call option seller or too short call
elling options
Option selling, or better known as the put option, is a right to sell an asset at a deal price (strike price) and within a certain time period agreed upon, either at the end of a maturity or period of time prior to maturity. At the sale option is also called the 2 parties:
* The buyer or selling an option called a put option buyer or too long a put
* Sellers option to buy or often called a put option seller or too short a put
This instrument is called an option because this agreement provides the "right" to the option holder to decide whether to implement or not (or so-called exercise) of options held, namely the right to buy (purchase option) or the right to sell (the option to sell) and the who sells the option or the so-called "publishing option" "must" to fulfill the right option from the option holders in accordance with the agreed terms. [2]
Financial risk
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Financial risk is all sorts of risks associated with finance, usually in comparison with non-financial risks, such as operational risks. Types of financial risk is the risk such as exchange rates, interest rate risk and liquidity risk.
Liquidity risk is the risk that arise if a party can not pay the obligations coming due in cash. Although these parties have sufficient assets to pay off obligations valued, but when these assets can not be converted into cash immediately, then the party is said to be illiquid.
This can happen if the debtor can not sell his property because there was no other parties interested in the market to buy. This is different to a drastic decline in asset prices, because in the case of declining prices, the market thinks that the asset is of no value. The lack of interested parties to exchange (purchase) of assets probably just caused by the difficulty to reconcile both sides. Therefore, liquidity risk is usually more likely to occur in newly emerging markets or small volume.
Liquidity risk is a financial risk because of the uncertainty of liquidity. An institution may be less liquidity if its credit rating fell, expenditure had an unexpected cash, or other events that cause the other party to avoid the transaction or provide loans to these institutions. A company also may be exposed to liquidity risk if markets decline followed liquidity.
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Exchange rate risk or currency risk is a form of risk that arise due to changes in exchange rates of a currency against other currencies. A company or investors who have assets or business operations across the country will receive this risk if it does not apply hedge (hedging).
Exchange rate risks associated with foreign currency instruments important to note in foreign investment. These risks arise because of differences in monetary policy and real productivity growth, which will result in differences in the rate of inflation.
Faced by lenders to consumers
! Main article for this section are: Consumer credit risk
Most lenders use their credit worthiness assessment of each to rank the risk of consumers and then apply to their business strategy. With products such as unsecured personal loans or mortgages, lenders charge high interest rates on high-risk customers and vice versa. On loan products such as credit cards and overdrafts, risk is controlled through setting of credit limits carefully. Some products also require security, usually in the form of property.
Financial risk is all sorts of risks associated with finance, usually in comparison with non-financial risks, such as operational risks. Types of financial risk is the risk such as exchange rates, interest rate risk and liquidity risk.
Liquidity risk is the risk that arise if a party can not pay the obligations coming due in cash. Although these parties have sufficient assets to pay off obligations valued, but when these assets can not be converted into cash immediately, then the party is said to be illiquid.
This can happen if the debtor can not sell his property because there was no other parties interested in the market to buy. This is different to a drastic decline in asset prices, because in the case of declining prices, the market thinks that the asset is of no value. The lack of interested parties to exchange (purchase) of assets probably just caused by the difficulty to reconcile both sides. Therefore, liquidity risk is usually more likely to occur in newly emerging markets or small volume.
Liquidity risk is a financial risk because of the uncertainty of liquidity. An institution may be less liquidity if its credit rating fell, expenditure had an unexpected cash, or other events that cause the other party to avoid the transaction or provide loans to these institutions. A company also may be exposed to liquidity risk if markets decline followed liquidity.
Jump to: navigation, search
Exchange rate risk or currency risk is a form of risk that arise due to changes in exchange rates of a currency against other currencies. A company or investors who have assets or business operations across the country will receive this risk if it does not apply hedge (hedging).
Exchange rate risks associated with foreign currency instruments important to note in foreign investment. These risks arise because of differences in monetary policy and real productivity growth, which will result in differences in the rate of inflation.
Faced by lenders to consumers
! Main article for this section are: Consumer credit risk
Most lenders use their credit worthiness assessment of each to rank the risk of consumers and then apply to their business strategy. With products such as unsecured personal loans or mortgages, lenders charge high interest rates on high-risk customers and vice versa. On loan products such as credit cards and overdrafts, risk is controlled through setting of credit limits carefully. Some products also require security, usually in the form of property.
BPK
Audit Agency (abbreviated as CPC) is a high state institution in the Indonesian state administration system which has authority to investigate the management and financial responsibility of the state. According to the 1945 Constitution, CPC is an independent agency and independent.
CPC members elected by the House of Representatives, taking into consideration the Regional Representative Council, and was inaugurated by the President.
State audit results submitted to the DPR, DPD, and DPRD (in accordance with the authority)
Article 23 paragraph (5) Year 1945 Constitution stipulates that the responsibility for checking on Finance held a State Audit Agency that the rules stipulated by the Law. The results of the examination was submitted to the House of Representatives.
Based on the mandate of the 1945 Constitution has been issued No.11/OEM Government Determination Letter dated December 28, 1946 on the establishment of the State Audit Board, on January 1, 1947 while domiciled in the town of Magelang. At that time the State Audit Board only has 9 employees and as Chairman of the State Audit Board first is R. Soerasno. To begin the task, the BPK with a letter dated 12 April 1947 No.94-1 has been announced to all institutions within the territory of the Republic of Indonesia on the tasks and duties in examining the responsibility of State Finance, for while still using regulations that used to apply for the implementation of tasks Algemene Rekenkamer (BPK Dutch East Indies), the ICW and IAR.
Article 23 paragraph (5) Year 1945 Constitution stipulates that the responsibility for checking on Finance held a State Audit Agency that the rules stipulated by the Law. The results of the examination was submitted to the House of Representatives.
Based on the mandate of the 1945 Constitution has been issued No.11/OEM Government Determination Letter dated December 28, 1946 on the establishment of the State Audit Board, on January 1, 1947 while domiciled in the town of Magelang. At that time the State Audit Board only has 9 employees and as Chairman of the State Audit Board first is R. Soerasno. To begin the task, the BPK with a letter dated 12 April 1947 No.94-1 has been announced to all institutions within the territory of the Republic of Indonesia on the tasks and duties in examining the responsibility of State Finance, for while still using regulations that used to apply for the implementation of tasks Algemene Rekenkamer (BPK Dutch East Indies), the ICW and IAR.Dalam Government Decision No.6/1948 dated 6 November 1948 the State Audit Board positions transferred from Magelang to Yogyakarta. State of the Republic of Indonesia in Yogyakarta, the capital continues to have a Supreme Audit Board in accordance Article 23 paragraph (5) Constitution in 1945; Chairman represented by R. Kasirman who was appointed by Presidential Decree dated January 31, 1950 No.13/A/1950 starting August 1, 1949.
CPC members elected by the House of Representatives, taking into consideration the Regional Representative Council, and was inaugurated by the President.
State audit results submitted to the DPR, DPD, and DPRD (in accordance with the authority)
Article 23 paragraph (5) Year 1945 Constitution stipulates that the responsibility for checking on Finance held a State Audit Agency that the rules stipulated by the Law. The results of the examination was submitted to the House of Representatives.
Based on the mandate of the 1945 Constitution has been issued No.11/OEM Government Determination Letter dated December 28, 1946 on the establishment of the State Audit Board, on January 1, 1947 while domiciled in the town of Magelang. At that time the State Audit Board only has 9 employees and as Chairman of the State Audit Board first is R. Soerasno. To begin the task, the BPK with a letter dated 12 April 1947 No.94-1 has been announced to all institutions within the territory of the Republic of Indonesia on the tasks and duties in examining the responsibility of State Finance, for while still using regulations that used to apply for the implementation of tasks Algemene Rekenkamer (BPK Dutch East Indies), the ICW and IAR.
Article 23 paragraph (5) Year 1945 Constitution stipulates that the responsibility for checking on Finance held a State Audit Agency that the rules stipulated by the Law. The results of the examination was submitted to the House of Representatives.
Based on the mandate of the 1945 Constitution has been issued No.11/OEM Government Determination Letter dated December 28, 1946 on the establishment of the State Audit Board, on January 1, 1947 while domiciled in the town of Magelang. At that time the State Audit Board only has 9 employees and as Chairman of the State Audit Board first is R. Soerasno. To begin the task, the BPK with a letter dated 12 April 1947 No.94-1 has been announced to all institutions within the territory of the Republic of Indonesia on the tasks and duties in examining the responsibility of State Finance, for while still using regulations that used to apply for the implementation of tasks Algemene Rekenkamer (BPK Dutch East Indies), the ICW and IAR.Dalam Government Decision No.6/1948 dated 6 November 1948 the State Audit Board positions transferred from Magelang to Yogyakarta. State of the Republic of Indonesia in Yogyakarta, the capital continues to have a Supreme Audit Board in accordance Article 23 paragraph (5) Constitution in 1945; Chairman represented by R. Kasirman who was appointed by Presidential Decree dated January 31, 1950 No.13/A/1950 starting August 1, 1949.
Financial markets
is a market mechanism that allows for one or koporasi to easily be able to close the sale and purchase in the form of financial securities (such as stocks and bonds), commodities in the securities it is possible to make a purchase and sale early in the products of natural resources such as agricultural products and Mining and others.
In the financial world, financial markets include:
* Sellers memperolehkan shares in the capital through the capital market;
* The transfer of risk in the derivatives market transactions; and
* International trade through foreign exchange market.
Financial markets may mean:
1. A market system that facilitate trafficking between the products and financial derivatives such as stock exchanges which facilitate trading in shares, bonds and warrants.
2. Meetings between buyers and sellers to trade financial products in a variety of ways including the use of stock exchanges, directly between sellers and buyers (over-the-counter).
In the academic world, students of financial subjects will use both meanings but students use only the economy of the second meaning.
The types of financial markets
Financial markets can be divided into several sub-types such as:
* Capital markets which consist of primary market and secondary markets are divided into:
o the stock market, which is a means of financing through the issuance of shares, and is a means of trading shares.
o bond markets, which is a means of financing through the issuance of bonds and bond trading facilities.
* Commodity markets, which facilitate the trading of commodities.
* Financial markets, which is a means of short-term debt financing and investment.
* Derivatives market, which is a facility that provides instruments to manage financial risk.
o futures market, which is a facility that provides trading futures contracts for a product at a future date.
* Insurance market, which facilitate the redistribution of various risks.
* Foreign exchange markets, which facilitate foreign exchange trading.
Benefits of financial markets
Without the financial markets is the money lenders (creditors) will have difficulty in finding debtors who are willing to lend him. Mediator such as a bank to help in this process, where the bank accepts deposits from customers who have the money to be saved and then the bank can lend money to people who intend to borrow money. Banks typically make loans of money in the form of loans and mortgages.
Illustration in the table below may explain the relationship between financial markets and borrowers and lenders:
The relationship between borrowers and lenders
Financial Intermediary Lenders Borrowers financial markets
Individual
Banks Companies
Insurance Company
Pensions
Mutual Funds
Interbank
Stock exchange
Financial markets
Bond market
Individual foreign exchange
Company
Central government
Pemerinmtah regions
Public Companies
In the financial world, financial markets include:
* Sellers memperolehkan shares in the capital through the capital market;
* The transfer of risk in the derivatives market transactions; and
* International trade through foreign exchange market.
Financial markets may mean:
1. A market system that facilitate trafficking between the products and financial derivatives such as stock exchanges which facilitate trading in shares, bonds and warrants.
2. Meetings between buyers and sellers to trade financial products in a variety of ways including the use of stock exchanges, directly between sellers and buyers (over-the-counter).
In the academic world, students of financial subjects will use both meanings but students use only the economy of the second meaning.
The types of financial markets
Financial markets can be divided into several sub-types such as:
* Capital markets which consist of primary market and secondary markets are divided into:
o the stock market, which is a means of financing through the issuance of shares, and is a means of trading shares.
o bond markets, which is a means of financing through the issuance of bonds and bond trading facilities.
* Commodity markets, which facilitate the trading of commodities.
* Financial markets, which is a means of short-term debt financing and investment.
* Derivatives market, which is a facility that provides instruments to manage financial risk.
o futures market, which is a facility that provides trading futures contracts for a product at a future date.
* Insurance market, which facilitate the redistribution of various risks.
* Foreign exchange markets, which facilitate foreign exchange trading.
Benefits of financial markets
Without the financial markets is the money lenders (creditors) will have difficulty in finding debtors who are willing to lend him. Mediator such as a bank to help in this process, where the bank accepts deposits from customers who have the money to be saved and then the bank can lend money to people who intend to borrow money. Banks typically make loans of money in the form of loans and mortgages.
Illustration in the table below may explain the relationship between financial markets and borrowers and lenders:
The relationship between borrowers and lenders
Financial Intermediary Lenders Borrowers financial markets
Individual
Banks Companies
Insurance Company
Pensions
Mutual Funds
Interbank
Stock exchange
Financial markets
Bond market
Individual foreign exchange
Company
Central government
Pemerinmtah regions
Public Companies
Financial institutions
Financial institutions in the world acted as financial institutions providing financial services to its clients, which are generally governed by this institution of government financial regulations. The general form of these financial institutions are including banking, building society (a type of co-operatives in the UK), Credit Union, stockbrokers, asset management, venture capital, cooperatives, insurance, pension funds, and other similar businesses.
Financial institutions in Indonesia is divided into 2 groups of financial institutions and banks non-bank financial institutions (insurance, mortgage, securities firms, financial institutions, etc.).
[edit] Function
These financial institutions provide services as an intermediary between the owners of capital and debt markets in charge of channeling funds from investors to companies that need funds. The presence of these financial institutions that facilitate the flow of money circulation in the economy, where money collected from individual investors in the form of savings, so the risk of these investors turn to financial institutions which then distribute these funds in the form of debt loans to the needy. This is a major goal of the fund depository institutions to generate income. Examples of financial institutions are banks.
See also
* Bank
* Investment management
* Hedge funds
* Mutual Funds
* Credit
* Investment banking
* Pawnshop
Financial institutions in Indonesia is divided into 2 groups of financial institutions and banks non-bank financial institutions (insurance, mortgage, securities firms, financial institutions, etc.).
[edit] Function
These financial institutions provide services as an intermediary between the owners of capital and debt markets in charge of channeling funds from investors to companies that need funds. The presence of these financial institutions that facilitate the flow of money circulation in the economy, where money collected from individual investors in the form of savings, so the risk of these investors turn to financial institutions which then distribute these funds in the form of debt loans to the needy. This is a major goal of the fund depository institutions to generate income. Examples of financial institutions are banks.
See also
* Bank
* Investment management
* Hedge funds
* Mutual Funds
* Credit
* Investment banking
* Pawnshop
Financial institutions
Financial institutions in the world acted as financial institutions providing financial services to its clients, which are generally governed by this institution of government financial regulations. The general form of these financial institutions are including banking, building society (a type of co-operatives in the UK), Credit Union, stockbrokers, asset management, venture capital, cooperatives, insurance, pension funds, and other similar businesses.
Financial institutions in Indonesia is divided into 2 groups of financial institutions and banks non-bank financial institutions (insurance, mortgage, securities firms, financial institutions, etc.).
[edit] Function
These financial institutions provide services as an intermediary between the owners of capital and debt markets in charge of channeling funds from investors to companies that need funds. The presence of these financial institutions that facilitate the flow of money circulation in the economy, where money collected from individual investors in the form of savings, so the risk of these investors turn to financial institutions which then distribute these funds in the form of debt loans to the needy. This is a major goal of the fund depository institutions to generate income. Examples of financial institutions are banks.
See also
* Bank
* Investment management
* Hedge funds
* Mutual Funds
* Credit
* Investment banking
* Pawnshop
Financial institutions in Indonesia is divided into 2 groups of financial institutions and banks non-bank financial institutions (insurance, mortgage, securities firms, financial institutions, etc.).
[edit] Function
These financial institutions provide services as an intermediary between the owners of capital and debt markets in charge of channeling funds from investors to companies that need funds. The presence of these financial institutions that facilitate the flow of money circulation in the economy, where money collected from individual investors in the form of savings, so the risk of these investors turn to financial institutions which then distribute these funds in the form of debt loans to the needy. This is a major goal of the fund depository institutions to generate income. Examples of financial institutions are banks.
See also
* Bank
* Investment management
* Hedge funds
* Mutual Funds
* Credit
* Investment banking
* Pawnshop
Balance Sheet
Balance Sheet (English: Balance Sheet or Statement of Financial Position) is part of a company's financial statements resulting in an accounting period that shows the company's financial position at the end of the period. Balance consists of three elements, namely assets, liabilities, and capital associated with the following equation:
Statement of Financial Accounting Standard
In accordance with PSAK No.1 issued by the Indonesian Institute of Accountants mentioned in the balance sheet:
* Company presents current assets separately from non-current assets and short-term liabilities separately from long-term liabilities except for certain industries regulated by a special SAK. Current assets are presented according to the size of liquidity while the liabilities are presented in order of maturity.
* The company must disclose the information amount of each asset to be received and paid duty before and after twelve months from the balance sheet date.
* If a company provides goods or services in a cycle of operations which can be clearly identified, then the classification of current assets and non-current and short-term liabilities and long-term balance sheet to provide useful information by distinguishing the net assets as working capital to assets used for operations long-term.
The elements of the report usually consists of
* Revenue from sales
o Less Cost of sales
* Profit / loss dirty
o Reduced operating costs
* Profit / loss surgery
o Plus or minus income / other expenses
* Profit / loss before tax
o Reduced tax costs
* Profit / loss net
Benefits of cash flow information
* Cash flow information is useful as an indicator of cash flows in the future, as well as useful to assess the accuracy of the estimated cash flows that have been made previously.
* Statements of cash flows also become a tool of accountability cash inflows and cash flow out during the reporting period.
* If associated with other financial statements, cash flow statements provide useful information for users in evaluating the changes in reporting net worth / equity funds reporting entity and the government's financial structure (including liquidity and solvency).
In accounting terms, the obligation is a debt to be repaid or service should be done in the future on the other side. Liability is the opposite of that asset is something owned. Examples obligation is money borrowed from the other side, demand deposits or checks that have not been paid, and sales taxes that have not been paid to the state.
Liabilities included in the balance sheet report with a normal balance of credit, and is usually divided into two groups, namely:
1. Current Liabilities - obligations that can be expected to be paid in the short term (usually one year). Usually consists of debt payments (payables, payroll, taxes, etc.), deferred revenue, part of the long-term debt maturing this year, short-term bonds (such as the purchase of equipment), etc..
2. Long-term obligations - obligations that can not be fulfilled within one year. Usually consists of long-term debt, pension obligations, etc..
Statement of Financial Accounting Standard
In accordance with PSAK No.1 issued by the Indonesian Institute of Accountants mentioned in the balance sheet:
* Company presents current assets separately from non-current assets and short-term liabilities separately from long-term liabilities except for certain industries regulated by a special SAK. Current assets are presented according to the size of liquidity while the liabilities are presented in order of maturity.
* The company must disclose the information amount of each asset to be received and paid duty before and after twelve months from the balance sheet date.
* If a company provides goods or services in a cycle of operations which can be clearly identified, then the classification of current assets and non-current and short-term liabilities and long-term balance sheet to provide useful information by distinguishing the net assets as working capital to assets used for operations long-term.
The elements of the report usually consists of
* Revenue from sales
o Less Cost of sales
* Profit / loss dirty
o Reduced operating costs
* Profit / loss surgery
o Plus or minus income / other expenses
* Profit / loss before tax
o Reduced tax costs
* Profit / loss net
Benefits of cash flow information
* Cash flow information is useful as an indicator of cash flows in the future, as well as useful to assess the accuracy of the estimated cash flows that have been made previously.
* Statements of cash flows also become a tool of accountability cash inflows and cash flow out during the reporting period.
* If associated with other financial statements, cash flow statements provide useful information for users in evaluating the changes in reporting net worth / equity funds reporting entity and the government's financial structure (including liquidity and solvency).
In accounting terms, the obligation is a debt to be repaid or service should be done in the future on the other side. Liability is the opposite of that asset is something owned. Examples obligation is money borrowed from the other side, demand deposits or checks that have not been paid, and sales taxes that have not been paid to the state.
Liabilities included in the balance sheet report with a normal balance of credit, and is usually divided into two groups, namely:
1. Current Liabilities - obligations that can be expected to be paid in the short term (usually one year). Usually consists of debt payments (payables, payroll, taxes, etc.), deferred revenue, part of the long-term debt maturing this year, short-term bonds (such as the purchase of equipment), etc..
2. Long-term obligations - obligations that can not be fulfilled within one year. Usually consists of long-term debt, pension obligations, etc..
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