Penelitian Tentang Manfaat Laporan Arus Kas

ABSTRACT Effective 1994, the Indonesian Institute of Accountants made it mandatory for rxpanies in Indonesia to prepare cash flow statement instead of fund flow statement. ie reasons stated by the Institute for the change are: (I) historical cash flow is ~ortans in predicting the amount, timing, and certainty offuture cash flow, and (2) to k the accuracy offuture cash flow estimate. For stockholders, the cash inflow consists of cash dividend (hereafter dividend) sales proceed of the investment. The estimation of proceedfrom investment sales is ~icult because it is dependent on the economy and the expectation of security market. the other hand, the estimate of total dividend payment is relatively easier to make. law, a company can pay dividend only if it has profit. For the obvious reason, it can i dividend, only if it has money. Using. the rules, a regression model is developed Ye dependent variable is total dividend (DIV) for year (n+ 1), while the dependent rubles are cash provided by operation (AKO) in year n, and ending cash balance T) for year n. The independent variables are components of the cash flow ement. Regression analysis showed that the independent variables explain 56% of total idend payment and that the two independent variables, AKO and KAT are &ant with p-value of 0,0001 and 0,0236, respectively. The study rejected the null ypothesis and concluded that cash flow report is related to the dividend payment in the Illowing year and therefore cash flow statement is useful for stodkholders