Manajemen Keuangan Pendanaan Jangka Pendek Part 1 Ropinov Saputro

Summary

This lecture on short-term financial funding explores various types of financing, including spontaneous sources like trade credit and accounts payable, as well as non-spontaneous options such as bank loans and seasonal loans. It highlights key financial concepts like opportunity costs, credit terms, and the importance of timing and flexibility in managing short-term funding. The session also provides real-world examples and simulations to demonstrate how businesses can use trade credits to manage liquidity, balance penalties, and maximize discounts. Overall, it underscores the strategic considerations businesses must make when leveraging short-term financial resources.

Takeaways

• 😀 Short-term financing can be categorized based on whether the source is spontaneous or requires a process.
• 😀 Spontaneous sources of short-term funding include accounts payable (trade credit) and accrued expenses, which occur naturally during business operations.
• 😀 Accounts payable, or trade credit, is a common form of short-term financing where suppliers allow businesses to pay later, often with discounts for early payment.
• 😀 The most common type of trade credit is 'open account' where the supplier sends goods with an invoice, and payment is due within a specified period.
• 😀 The terms of trade credit, such as '2/10, net 30,' allow businesses to benefit from discounts by paying early (2% off if paid within 10 days).
• 😀 An example of short-term financing through agreements is a bank loan where the borrower uses collateral, such as a vehicle's BPKB, to secure the loan.
• 😀 Factoring or receivables financing allows businesses to convert their receivables into cash, but it involves costs like factoring fees and loss of flexibility.
• 😀 The optimal mix of short-term financing sources should be carefully managed to balance costs and flexibility for the business.
• 😀 Different payment terms (e.g., COD, CBD, or net 30) influence cash flow and financing strategies for businesses.
• 😀 Extending payment terms or delaying payment can result in higher interest costs or penalties, and businesses must consider these costs when deciding on financing options.

Q & A

What is short-term funding and why is it important for businesses?

Short-term funding refers to financial resources that a business uses to meet its short-term obligations, typically within a year. It is important for businesses because it helps manage day-to-day operations, cover temporary cash flow gaps, and finance immediate needs without long-term financial commitment.

What are the two categories of short-term funding discussed in the script?

The two categories of short-term funding discussed are spontaneous funding and non-spontaneous funding. Spontaneous funding occurs naturally in business operations, like accounts payable and accrued liabilities, while non-spontaneous funding involves more structured financial arrangements, such as bank loans or factoring.

What is an example of spontaneous funding?

An example of spontaneous funding is **accounts payable (utang usaha)**, where a company purchases goods on credit and pays the supplier later. This delay in payment effectively provides the company with short-term funding.

How does **trade credit** work as a form of short-term funding?

Trade credit works by allowing a company to receive goods or services from a supplier without immediate payment. The buyer agrees to pay within a specified period, such as 30 days, and may receive a discount if payment is made early (e.g., 2/10 Net 30, meaning a 2% discount if paid within 10 days).

What are the risks associated with using short-term funding through trade credit?

Risks include missing out on early payment discounts, facing penalties for late payment, and damaging the company’s credit reputation, which could lead to difficulties in securing financing in the future.

What is the concept of **opportunity cost** in relation to short-term funding?

Opportunity cost refers to the financial loss a business incurs by not taking advantage of available benefits, such as a discount for early payment. For example, not using a 2% early payment discount results in the opportunity cost of losing that 2% savings.

What are **accrued liabilities (beban terutang)**, and how do they contribute to short-term funding?

Accrued liabilities are amounts a company owes but hasn't paid yet, like wages or taxes. These unpaid obligations act as a form of short-term funding, as they delay payment, allowing the company to use that money temporarily.

How can **seasonal credit** be used as short-term funding, and can you give an example?

Seasonal credit is a financial arrangement where a company borrows funds to cover expenses during off-peak times (e.g., during planting season for farmers). The loan is repaid after the seasonal income is generated, such as after the harvest.

What are the advantages and disadvantages of using **trade credit** as a funding option?

Advantages include immediate access to goods without upfront payment and potential discounts for early payment. Disadvantages include the risk of late payment penalties, interest costs, and possible damage to the company's credit reputation if payments are delayed.

Why is it important for companies to manage short-term funding effectively?

Managing short-term funding effectively is essential to ensure liquidity, avoid unnecessary costs, maintain good relationships with suppliers and creditors, and ensure long-term financial stability. Poor management can lead to financial difficulties, penalties, and damage to credit reputation.