ANALYSIS OF FINANCIAL STATEMENTS PT KERETA API INDONESIA (Persero)

: This research was obtained from the report of the Indonesia Railway Corporation's Balance Sheet and Profit in 2018, then the title is: Analysis of the Financial Statements of PT. Railroad Indonesia. The aim is to find out the performance of PT Kereta Api Indonesia in terms of liquidity, solvency, activities and profitability. The research method is Library Research by exposing existing data in the form of Balance Sheet and Income reports via the internet where the data are in the form of quantitative data and in the form of descriptive. Financial statement analysis is performed to determine the company's financial performance, can also be used as a reference in making decisions that affect the company's future. The result is that liquidity: current ratio = 1.336, Quick ratio = 11.221.049.9, cash ratio = 0.543 and working capital = 0.077. The solvability is: total debt to equity ratio = 2.63, total debt to total asset ratio = 0.625, long term to total asset ratio = 1.66, Tangible Asset dept coverage = 1.94, Time interest earned Ratio = 0.064. Its activities are: Total asset turnover = 0.256, accounts receivable turnover = 2.67, accounts receivable collection period = 134.78, inventory turnover = 0, fixed assets turnover = 0.370. While the profitability are: Gross profit Margin = 1, Net Profit Margin = 0.099, operational profit Margin = 0.141, Return on Investment = 0.020 and return on equity = 0.07 .


Introduction
High community mobility has become a daily activity. Smooth mobility requires reliable transportation and facilities. One of the mass transportation that is widely used is the train. Unlike other means of transportation such as buses and public transportation that can be managed individually or by companies. Train transportation is only managed by one company which is a State-Owned Enterprise (BUMN), namely PT Kereta Api Indonesia. Even though PT Kereta Api Indonesia has no competitors in the railroad transportation business, it still requires good company performance. The survival of the company is very important for the community, because the train is a very affordable transportation, especially for people who can not afford. If the financial condition of PT Kereta Api Indonesia is healthy, it can be predicted that it can still operate railroad transportation operations and can still serve people who need railroad transportation in the future. [93] Financial statement analysis is performed to determine the company's financial performance. The results of this analysis can be seen whether the company is in good health and can continue to run the company's activities. In addition, the analysis of financial statements can also be used as a reference in making decisions that affect the company's future. In this paper an analysis of the financial statements of PT Kereta Api Indonesia (Persero) and its subsidiaries is based on profitability, activity, solvency and liquidity ratios.

Definition of Financial Statements
According to the 2015 Financial Accounting Standards (SAK), financial statements are part of the financial reporting process. Complete financial statements usually include a balance sheet, income statement, statement of changes in financial position, notes and other reports and explanatory material that is an integral part of the financial statements.

Definition of Financial Statement
Analysis Financial statement analysis is an analysis carried out to look at a company's financial situation, how the company's achievements in the past, present, and future predictions. The analysis of the financial statements is used as a basis for decision making by interested parties.

Definition of Financial Ratio
Analysis Financial ratio analysis is an activity to analyze financial statements by comparing one account with another account in the financial statements, the comparison can be between accounts in the balance sheet and income statement.

Balance
A balance sheet is a report that describes the financial position of a company which includes assets, liabilities and equity for a certain period. The balance sheet shows how much the company's wealth. The balance sheet has 2 forms, namely the Staffel form and the Skontro form. The following is the financial statement data of the asset and passive balance sheets, as well as the income statement of PT Kereta Api Indonesia in 2018:

Activity Ratio
The ratio used to measure the effectiveness of the use of assets or assets of the company.

Total Assets Turnover
The ability of funds that are entrenched in the whole assets revolve within a certain period or the ability of the invested capital to generate "revenue". This ratio can be calculated by the formula: Total assets turnover = (net sales) / (total assets)

Liquidity Ratio
Used to measure the company's ability to meet short-term financial obligations in the form of shortterm debt. This ratio is shown from the size of the current assets. How quickly (liquidated) the company fulfills its financial performance, generally short-term liabilities (liabilities less than one period / year) Liquidity Ratio consists of:

Quick Ratio
The ratio used to measure the company's ability to pay short-term liabilities using more liquid assets. Can be calculated with the formula, namely: Quick Ratio = (Current-Inventory Assets) / (Current Debt)

Cas Ratio (Slow Ratio)
Ratios used to measure a company's ability to pay short-term liabilities with cash available and held in a bank. Cash can be in the form of a checking account. Can be calculated with the formula, namely: Cash Ratio = (Cash-Securities / Securities) / (Current Debt) Working Capital to Total Asset Ratio Liquidity of total assets and working capital position (net). Can be calculated with the formula, namely: Working Capital = (Current Assets-Current Debt) / (Total Assets)

Solvency Ratio
The ratio is used to measure the ability of a company to meet all its obligations both short and long term. How effectively does the company use its resources, the resources in question such as receivables and capital and assets. The difference between the Solvency Ratio (Leverage Ratio) and the Liquidity Ratio is the term of the loan (liability). The Solvency Ratio measures a company's ability to meet long-term obligations. While the liquidity ratio measures the company's ability to meet short-term obligations.

Total Debt to Equity Ratio (Debt-to-Equity Ratio)
That is a comparison between debts and equity in corporate funding and shows the woman's own capital, the company to fulfill all its obligations. Can be calculated with the formula, namely: Total Debt to Equity Ratio = (Total Debt) / (Shareholders' Equity)

Total Debt to Total Asset Ratio (Ratio of Debt to Total Assets)
That is the ratio between current debt and long-term debt and the sum of all assets known. This ratio shows how much part of the total assets are debt serviced. Can be dhirung with the formula, namely:

Total Debt to Total Asset Ratio = (Total Debt) / (Total Assets)
Long term to total asset ratio Part of each rupiah of own capital used as collateral for long-term debt. Can be calculated with the formula, namely:

Long Term to Total Assets = (long term debt) / (equity capital) Tangible Asset Debt Coverage
The amount of tangible fixed assets used to guarantee long-term debt for each rupiah. Can be calculated with the formula, namely: Tangible Asset Debt Coverage = (Total assets-intangible-current debt) / (Long-term debt)

Time Interest Earned Ratio
The amount of guaranteed profits to pay long-term debt interest. This ratio compares earnings before tax and interest against Interest Costs. Can be calculated with the formula, namely: Time Interest earned Ratio = EBIT / (Long-term debt)

Conclusion
1) From the liquidity analysis are: current ratio = 1.336, Quick ratio = 11.221.049.9, cash ratio = 0.543 and working capital = 0.077, then PT KAI is a liquid company. 2) From the analysis of Solvency are:: total debt to equity ratio = 2.63, total debt to total asset ratio = 0.625, long term to total asset ratio = 1.66, Tangible Asset dept coverage = 1.94, Time interest earned Ratio = 0.064, PTKAI is a solvable company. 3) From the analysis of Activities are: Total asset turnover = 0.256, accounts receivable turnover = 2.67, receivables collection period = 134.78, inventory turnover = 0, fixed assets turnover = 0.370, then PT KAI is an active company. 4) While the Profitability is: Gross profit Margin = 1, Net Profit Margin = 0.099, operational profit Margin = 0.141, Return on Investment = 0.020 and return on equity = 0.07, then PT KAI is a profit company.

Suggestion
1) PT KAI must add the railroad tracks so that it will increase the number of trains as well as the number of train cars so that they can accommodate more passengers and give satisfaction to passengers. 2) PT KAI must add routes to the regions so that all areas can be passed by the train.
3) PT KAI must add railway lines outside of Java, such as in Sumatra, Kalimantan, Sulawesi, Maluku and Papua, so that the Indonesian people can easily utilize them