COMPANIES FINANCIAL PERFORMANCE ANALYSIS IN BAKRIE TELECOM, TBK AND PT. TELECOMMUNICATION INDONESIA, TBK (TELKOM) BY USING ECONOMIC VALUE ADDED (EVA)

Merdekawati Zahara

Abstract


Firm value is a measure of success for the
implementation of nancial functions. The basic nancial
statements in a company are the balance sheet and income
statement. The purpose of analyzing the company's
nancial statements, ie to assess or evaluate a particular
performance management company in an accounting
period, and determine what strategy should be applied in
the next period if the company's goal has been achieved
previously. The purpose of this study was to determine the
nancial performance of telecommunications companies and
nd out which companies are providing a better economic
value using EVA. Objects in this study were PT. Telekomu-
nikasi Indonesia, Tbk (Telkom) and PT. Bakrie Telecom,
Tbk. The data used in this study is the nancial year 2007
to 2009. The results showed that the values ??obtained
EVA PT. Telekomunikasi Indonesia, Tbk (TELKOM) of Rp
14,264,573,031,200 in 2007, the year 2008 amounting to Rp
71,524,922,000,000, and in 2009 of Rp 10,749,221,222,300,
so the value of EVA this year the company earned from
2007 to 2009> 0 or positive value. EVA values ??obtained
by PT. Bakrie Telecom, Tbk in 2007 amounted to (Rp
123062404105.8), 2008 of (Rp 4,588,885,460,097.6), and in
2009 of (Rp 1.794.959.297.255), so the EVA value obtained
for this company year 2007 - 2009 <0 or negative value.
Of the two companies that became the object of research,
then the PT. Telekomunikasi Indonesia, Tbk (TELKOM),
which provides better economic value, because in the years
2007-2009 the company has always generate positive EVA
value, while the PT. Bakrie Telecom, Tbk in 2007 - 2009
produces negative EVA value.

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