ANALYSIS OF FINANCIAL STATEMENTS PERTAMINA 2017

: This study was obtained from the PT. Pertamina Balance Sheet and Profit Report in 2017, then the title is: Analysis of Pertamina's Financial Statements. The goal is to find out the performance of PT Pertamina. This research was obtained from PT Pertamina's Balance Sheet and Income Statement. in 2018, the title is: Analysis of Pertamina's Financial Statements. The aim is to find out the performance of Pertamina 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
Financial statement analysis is a process of financial statement research and its elements that aims to evaluate and predict the financial condition of a company or business entity and also evaluate the results that have been achieved by a company or business entity in the past and present. Analysis of a company's financial statements is basically because it wants to know the level of profit, risk level and health level of a company. This kind of analysis require analyst. 1.urposeoftheanalysis2. Understand the concepts and principles that underlie financial statements and financial ratios derived from those financial statements. 3. Understand the economic conditions and other business conditions in general that are related to the company and affect the company's business. Before conducting an analysis an analyst must understand the three steps above, and then conduct the analysis using analytical tools such as financial ratios or other ratios.
All types of companies managed by the government or private sector must have financial reports, one of the state-owned companies, PT Pertamina. Every year PT Pertamina must audit the financial statements to find out the health condition and for the life of the company in the future.

Literature Review
1BalanceSheetA balance sheet is a report that describes the financial position of a company which includes assets, liabilities and equity in a certain period. The balance sheet shows how much the company's wealth. The balance sheet has 2 forms:1. Staffel form balance Staffel form is a form of balance sheet that is composed both assets and liabilities (debt + capital). At the top to record assets and the bottom to record debt and capital.2. Scontro form balance sheet which is next to the position of assets and liabilities (debt + capital). For altiva on the left and liabilities (debt+capital) on the right. Below is PT Pertamina's Balance Sheet Financial Report (Consolidated Financial Position Report)2. Profit/Loss. The income statement is a report compiled systematically, the contents of which the income earned by the company is reduced by expenses that occur in the company during a certain period. The income statement desc form of income statement:1. Single step form in the profit / loss statement in the form of a single step, for income accounts are grouped first, then just added up. then at the bottom of the new income the expenses are grouped separately and added up. Total income less total expenses, the difference is the net profit or net loss. 2. Multiple forms. The multiple step form for income needs to be separated between the mainincomeandtheincometheoutsidbusinessexpenses.3. Liquidity Ratio. Used to measure the company's ability to meet short-term financial obligations in the form of short-term 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: Current Ratio. The ratio used to measure a company's ability to pay its short-term liabilities using current assets. Can be calculated with the formula, namely: Current Ratio= (Current Assets)/ (Current Debt)

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)

Cash 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 dhitiun namely: Cash Ratio = (Cash-Securities/Securities) / (Current Debt) Working Capital to Total Asset Ratio. The multiple steps form for income needs to be separated between the main income and the income outside the main business, and to separate the main business expenses from the outside business expenses.

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

Cash 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 Dhitiung 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. 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 longterm obligations. While the liquidity ratio measures the company's-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. Receivable Collection Period. The average period required to collect receivables.
Can be calculated with the formula, namely: Receivable collection period = (accounts receivable * 360) / (sales) Inventory Turnover. The ability of funds embedded in inventory to rotate over a certain period, or the liquidity of the inventory and the tendency for "overstock". This ratio can be calculated by the formula: Accounts Receivable Turnover = (cost of product) / (inventory)Fixed assets turnover Turnover of fixed assets is the ratio between sales and fixed assets owned by a company. Can be calculated with the formula, namely: Turnover of fixed assets = (sale) / (fixed assets).

Profitability Ratio
This ratio is used to measure the level of rewards or gains (profits) compared to sales or assets, measuring how much the company's ability to make a profit in relation to sales, assets or profit and own capital. Gross Profit Margin. Is the ratio between net sales minus cost of goods sold and level of sales, the ratio describes the gross profit that can be achieved from the number of sales. This ratio can be calculated by the formula: Gross Profit Margin=(sales-hpp)/(sales) Net Profit Margin (Net Profit Margin). This is the ratio used to measure net income after tax and then compared to sales volume. Can be calculated with the formula, namely: Net profit margin= (profit after tax)/(sales).

Operational Profit Margin.
Operating profit before interest and taxes generated by each sales rupiah. It can be calculated using the formula, which is: Operational Profit Margin = (operating profit) / sales. Return on Investment. The ability of capital invested in overall assets to generate net profits. Can be calculated with the formula, namely: Can be calculated with the formula, formula, namely: Return on Equity = (Net Profit) / (own capital)

Research Methodology
This research was conducted from the results of PT Pertamina's financial statements in the form of a balance sheet and 2017 profit statement through the internet. This research method uses the Library Research method by exposing existing data in the form of Balance Sheet and Income reports, quantitative and descriptive research data, Research Instruments in the form of library research by searching from the internet and books, and scientific work related to the title of this research, data analysis techniques by analyzing the performance of PT Pertamina's companies through liquidity, solvability, activity and profitability.

Discussion
Liquidity

Conclusion
1) From the liquidity analysis are: current ratio = 1.83, Quick ratio = 1.20, cash ratio = 0.58 and working capital = 0.15, then PT PERTAMINA is a liquid company. 2) From the analysis of Solvency are: total debt to equity Ratio = 2.04, Total debt to total asset ratio = 0.53, long term to total asset ratio = 1.34, Tangible Asset dept coverage = 2.32, Time interest earned Ratio = 0.19, then PT PERTAMINA is a solvable company. 3) From the analysis of Activities are: Total asset turnover = 0.84, accounts receivable turnover = 9.45, receivables collection period = 38.05, inventory turnover = 5.21, fixed assets turnover = 1.26, then PT PERTAMINA including companies that active. Suggestion 1) PT. Pertamina is expected to look for new oil and gas fields to expand its production both offshore and on land. 2) PT Pertamina is expected to increase the amount of its production so that it is able to meet the needs of oil and gas in Indonesia, and if necessary the excess is exported in order to obtain foreign exchange. 3) PT. Pertamina is expected to compete with foreign oil companies.