FINAL
TEXT REPORT OF ACCOUNTING DEPARMENT
SCHOOL YEAR 2012/2013
PREPARING
FINANCIAL STATEMENT
IN
ACADEMY
AIR FORCE OF ADI SOEMARMO
Arranged
by :
Name : Ervina Sarah Matondang
School Registerd
Number : 11301
Grade : XII
Department : Accounting
State
Vocational High School 6 Surakarta
36
Adisucipto street, Surakarta 57145
Telp.
(0217) 726036/ Fax. (0217) 740932
RATIFICATION
This
report has been examined by the board of examiners of State Vocational High
School 6 Surakarta, and declared to have fullfiled the English Curiculum.
Board
of Examinations
Class
Guardian
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Consultant
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Dra. Maria Irene Karyani, M.Si
|
Dra. Noveani Warigaliati
|
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NIP. 19610405 198803 2 006
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NIP. 19641114 199303 2 001
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Surakarta, 2012
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Head of Accounting Department
Vocational High School 6 Surakarta
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Dra. Sukinah,
M.Si
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NIP. 19610615 199303 2 001
|
PREFACE
All of prises, honours, and glory only
belong to God. The All Merciful, because only by His grace and mercy, The
writer can finish the final task report with the tittle is “PREPARING FINANCIAL
STATEMENT” on time.
By this report, the
writer wants to axpress gratitude to :
1.
Dra. Sri Supartini, M.M, as the
principal of State Vocational High School 6 Surakarta.
2.
Drs. Arif Suhardi, M.Pd, as the vice
principal of public relation.
3.
Mayor adm, Sigit Gunawan, SE, as the
head of industry.
4.
Dra. Sukinah, M.Si, as the head of
accounting department.
5.
Dra, Noveani Warigiliati, as the
consultant of this report.
6.
Dra. Maria Irine Karyani, M.Si, as the class
guardian.
7.
Beloved parents who have supported the writer.
8.
Classmates, friends, and someone who
help writer to finish this report.
The writer believes that this report is
for from perfect, so the writer accepts suggestion and constructive critism
from all readers. Finally, the writer hopes
that this report can be useful for all.
The
Writer
TABLE
OF CONTENS
TITLE
PAGE
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i
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RATIFICATION
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ii
|
PREFACE
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iii
|
TABLE
OF CONTENTS
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iv
|
CHAPTER
I : INTRODUCTION
A.
Background
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1
|
B.
Objectives
|
1
|
CHAPTER
II : PRODUCTION PROCESS
A.
Time and Place
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2
|
B.
Material and Equipment
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2
|
C.
Theoritical Review
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3
|
D.
Scheme of Work
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8
|
E.
Motion of Work
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9
|
F.
Result
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10
|
CHAPTER
III : FINDING
A.
Feasibility
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11
|
B.
Benefit
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11
|
C.
Improvement
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11
|
CHAPTER
IV : CLOSING
A.
Conclusion
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12
|
|
B.
Suggestion
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12
|
|
REFERENCE
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13
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APPENDIX
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14
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CHAPTER I
INTRODUCTION
A.
Background
Globalization era advanced technology and knowledge
are very real in world of work requires skilled work force in the field. The
Vocational High School graduates are expected to be work forces so they are
ready to work into the world of work.
To practice the skills in the vocational secondary
schools, particularly at secondary school vocational 6 Surakarta cooperaties in
the indrustrial world, Academic Air Force of afi Soemarmo performs work field practices that aim to train student skill in
applying theory of vocational.
Activites undertaker in the practices of field work
managing transaction evidences, recapitulation transaction evidences, archiving
transaction evidences and preparing financial statement.
Among activities mentioned above, the writer wants
to give knowledge of On the Job Training with the tittle of “PREPARING
FINANCIAL STATEMENT” in Academy Air Force of Adi Soemarmo.
B.
Objectives
The
objectives of On the Job Training (OJT) in industrial world are :
1. To
introduce the writer about business world.
2. To
apply the accounting theory in real activity in industrial and business world.
3. To
enlarge writer the experience in business world.
4. To
prepare the writer so that to be ready to work after passing the final
examination.
5. To
increase the experience in business world.
CHAPTER
II
PRODUCTION
PROCESS
A. Setting
The implementation the Job Training had been done on
3rd Januari until 29th February 2012. It had been done in
Academic Air Force of Adi Soemarmo at 28 Tentara Pelajar street, Colomadu,
Karanganyar, Jateng and phone (0271) 780535. The writer had been done in PROGAR
(PROGRAM & ANGGARAN) division. The writer did the Job Training in Monday
until Friday at 07.00 am until 14.30 pm.
B.
Materials and Equipment
The materials to do On the Job Training in Academy
Air Force of Adi Soemarmo are:
1. Transaction
evidences
2. PROGAR
(PROGRAM & ANGGARAN) ledger
3. PEKAS
(PEMEGANG KAS) ledger
The equipments to do On the Job Training in Academy Air Force
of Adi Soemarmo are:
a) computer
b) calculator
c) print
machine
d) map
/ file folder
e) photocopy
machine
f) clip
g) pen
h) papers
i)
ruler,etc
C.
Theoritical Review
According
to accounting expert, Price Waterhouse Cooper,”the financial statement includes
a balance sheet, an income statement, a statement of changes in equity, a cash
flow statement, and notes comprising a summary of significant accounting
policies and other explanatory notes.”
§ Balance Sheet - statement of financial position
at a given point in time.
§ Income Statement - revenues minus expenses for a
given time period ending at a specified date.
§ Statement of Owner's Equity - also known as Statement of
Retained Earnings or Equity Statement.
§ Statement of Cash Flows - summarizes sources and uses of
cash; indicates whether enough cash is available to carry on routine
operations.
v INCOME STATEMENT
Simply put, the income statement measures all your revenue sources vs.
business expenses for a given time period. To help explain things easily, let's
consider an apparel manufacturer as an example in outlining the major
components of the income statement:
1.
Sales. This is the gross revenue generated from
the sale of clothing less returns (cancellations) and allowances (reduction in
price for discounts taken by customers).
2.
Cost of goods sold. This is the direct cost
associated with manufacturing the clothing. These costs include materials used,
direct labor, plant manager salaries, freight and other costs associated with
operating a plant (for example, utilities, equipment repairs, etc.).
3.
Gross profit. The gross profit represents the
amount of direct profit associated with the actual manufacturing of the
clothing. It's calculated as sales less the cost of goods sold.
4.
Operating expenses. These are the selling,
general and administrative expenses that are necessary to run the business.
Examples include office salaries, insurance, advertising, sales commissions and
rent.
5.
Depreciation. Depreciation expense is usually
included in operating expenses and/or cost of goods sold, but it is worthy of
special mention due to its unusual nature. Depreciation results when a company
purchases a fixed asset and expenses it over the entire period of its planned
use, not just in the year purchased. The IRS requires certain depreciation
schedules to be followed for tax reasons. Depreciation is a noncash expense in
that the cash flows out when the asset is purchased, but the cost is taken over
a period of years depending on the type of asset.
Whether
depreciation is included in cost of goods sold or in operating expenses depends
on the type of asset being depreciated. Depreciation is listed with cost of
goods sold if the expense associated with the fixed asset is used in the direct
production of inventory. Examples include the purchase of production equipment
and machinery and a building that houses a production plant.
Depreciation
is listed with operating expenses if the cost is associated with fixed assets
used for selling, general and administrative purposes. Examples include
vehicles for salespeople or an office computer and phone system.
6.
Operating profit. This is the amount of profit
earned during the normal course of operations. It is computed by subtracting
the operating expenses from the gross profit.
7.
Other income and expenses. Other income and
expenses are those items that don't occur during the normal course of business
operation. For instance, a clothing maker doesn't normally earn income from
rental property or interest on investments, so these income sources are
accounted for separately. Interest expense on debt is also included in this
category. A net figure is computed by subtracting other expenses from other
income.
8.
Net profit before taxes. This figure represents
the amount of income earned by the business before paying taxes. The number is
computed by adding other income (or subtracting if other expenses exceed other
income) to the operating profit.
9.
Income taxes. This is the total amount of state
and federal income taxes paid.
10. Net
profit after taxes. This is the "bottom line" earnings of the
business. It's computed by subtracting taxes paid from net income before taxes.
v BALANCE SHEET
The balance sheet provides a snapshot of the business's assets,
liabilities and owner's equity for a given time. Again, using an apparel
manufacturer as an example, here are the key components of the balance sheet:
1. Current
assets. These are the assets in a business that can be converted to cash in
one year or less. They include cash, stocks and other liquid investments,
accounts receivable, inventory and prepaid expenses. For a clothing
manufacturer, the inventory would include raw materials (yarn, thread, etc.),
work-in-progress (started but not finished), and finished goods (shirts and
pants ready to sell to customers). Accounts receivable represents the amount of
money owed to the business by customers who have purchased on credit.
2. Fixed
assets. These are the tangible assets of a business that won't be converted
to cash within a year during the normal course of operation. Fixed assets are
for long-term use and include land, buildings, leasehold improvements, equipment,
machinery and vehicles. Intangible assets: These are assets that you cannot
touch or see but that have value. Intangible assets include franchise rights,
goodwill, noncompete agreements, patents and many other items.
3. Other
assets. There are many assets that can be classified as other assets, and
most business balance sheets have an "other assets" category as a
catchall. Some of the most common other assets include cash value of life
insurance, long-term investment property and compensation due from employees.
4. Current
liabilities. These are the obligations of the business that are due within
one year. Current liabilities include notes payable on lines of credit or other
short-term loans, current maturities of long-term debt, accounts payable to
trade creditors, accrued expenses and taxes (an accrual is an expense such as
the payroll that is due to employees for hours worked but has not been paid),
and amounts due to stockholders.
5. Long-term
liabilities. These are the obligations of the business that aren't due for
at least one year. Long-term liabilities typically consist of all bank debt or
stockholder loans payable outside of the following 12-month period.
6. Owner's
equity. This figure represents the total amount invested by the
stockholders plus the accumulated profit of the business. Components include
common stock, paid-in-capital (amounts invested not involving a stock purchase)
and retained earnings (cumulative earnings since inception of the business less
dividends paid to stockholders).
v CASH FLOW STATEMENT
The cash-flow statement is designed to convert the accrual
basis of accounting used to prepare the income statement and balance sheet back
to a cash basis. This may sound redundant, but it's necessary. The accrual
basis of accounting generally is preferred for the income statement and balance
sheet because it more accurately matches revenue sources to the expenses
incurred generating those specific revenue sources. However, it also is
important to analyze the actual level of cash flowing into and out of the
business.
Like the income
statement, the cash-flow statement measures financial activity over a period of
time. The cash-flow statement also tracks the effects of changes in balance
sheet accounts.
The cash-flow
statement is one of the most useful financial management tools you will have to
run your business. The cash-flow statement is divided into four categories:
1.
Net cash flow from operating activities.
Operating activities are the daily internal activities of a business that
either require cash or generate it. They include cash collections from
customers; cash paid to suppliers and employees; cash paid for operating
expenses, interest and taxes; and cash revenue from interest dividends.
2.
Net cash flow from investing activities.
Investing activities are discretionary investments made by management. These
primarily consist of the purchase (or sale) of equipment.
3.
Net cash flow from financing activities. Financing
activities are those external sources and uses of cash that affect cash flow.
These include sales of common stock, changes in short- or long-term loans and
dividends paid.
4. Net change in cash and marketable
securities. The
results of the first three calculations are used to determine the total change
in cash and marketable securities caused by fluctuations in operating,
investing and financing cash flow. This number is then checked against the
change in cash reflected on the balance sheet from period to period to verify
that the calculation has been done correctly
D. Scheme of Work
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E. Motion of Work
1.
Firstly, Headquarters of Indonesian Air
Force send the transaction evidences to Academy Air Force of Adi soemarmo. The
transactin evidence are taken by DAN (KOMANDAN) division.
2.
Secondly, After the transaction
evidences have been taken by DAN division, they are sent to PROGAR (PROGRAM
& ANGGARAN) divison and are recapitulated by DAN ledger. DAN division give
instruction to PROGAR divison for making financial statement.
3.
Thirdly, After financial statement has
been ready PROGAR division make recapitulation of these data, and write it to
PROGAR ledger, then PROGAR division send those data to PEKAS (PEMEGANG KAS)
division to compare with the data in PEKAS division.
4.
Fourthly, PROGAR division send back
financial statement to PROGAR division. The leader of PROGAR division has been
signatured financial statement.
5.
Fifthly, PROGAR division send financial
statement to KASET (KEPALA SET) division and financial statement is signatured
by the leader of KASET division.
6.
Sixthly, KASET division send back financial
statement to PROGAR division. The financial statement are copied by PROGAR
division then saved in PROGAR division.
7.
Seventhly, PROGAR division give the
financial statement to DAN division to get the signatured of commander of
Academy Air Force of Adi Soemarmo.
8.
Finally, Dan division send the financial
statement toHeadquarters of Indonesian Air Force.
F. RESULT
The
function of financial statement are to protect the shareholders from unreliable informations and
can enhance
the brand of the company. It can provide workers, shareholders and the general
public a secure feeling toward a company that complies with a financial
statement.
CHAPTER
III
FINDING
A. Feasibility
Propenat
factors are:
1. Staff
were friendly and guiding students.
2. Good
cooperation between,teacher, attendance, and helper.
3. Providance
of materials and equiptment of the competence exam.
4. Motivation
and support from everyone.
5. There
is no discrimination between staff and students.
Inhabiting
factors are :
1. Sometimes
printer machine has technical problem.
2. The
room is very small.
3. Staff
are too busy with their work so there is limited time to give guidance to the
writer
B. Benefit
The
benefit of he Job Training are :
1. Knowing
the way of work in company especially Academy Air Force of Adi Soemarmo.
2. Knowing
the world of work.
3. Knowing
how to solve many kindsof problems happen.
4. Knowing
the function of On the Job Training (OJT).
5. The
students will receive certificates after completing the Job Training.
C. Improvements
With follow On the Job Training for two months, the
writer can’t apply accounting theory that the learned into the writer world of work.
Because the witer to be pleaced not matching with the writer competency.
CHAPTER
IV
CLOSING
A.
Conclusion
The
conclusions are:
1. By
doing On the Job Training can increase the feeling of writer’s confidance.
2. By
making a report of On the Job Training can increase the knowledge about
techniques in company services.
3. By
doing On the Job Training, the writer gets much experience and knowledge in industrial
world.
B.
Suggestion
The
suggestions for the teacher, the students and the industrial world are :
1. The
teacher must monitor the writer four times of two months.
2. Before
the teacher puts the writer to the Job Training place, the teacher must check
match or not the comppetency.
3. The
student must keep good atitude.
4. The
student must keep silent along working.
5. The
students must keep good attitude of almamateur.
6. The
industrial world must put the writer according to the competency.
7. The
industrial world must give instructions clearly to the writer.
REFERENCE
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