KEMAMPUAN INFORMASI KOMPONEN ARUS KAS DAN LABA DALAM MEMPREDIKSI ARUS KAS MASA DEPAN

Abstract

Cash flow information of company is useful for users of financial reports as a basis for assessing a company’s ability to meet the needs of liquidity / cash flow. Cash flow information also enables users of financial statements to develop models to assess and compare the present value of future cash flows from various companies in one sector. In the statement of cash flows, there are three components of cash flow, they are operating cash flow, investments cash flow, funding cash flow. These three components and earnings can be tested to be a predictor in calculating the amount of future cash flows. Some previous research on the prediction of future cash flows showed different results. Therefore, research should be repeated that test the ability of cash flow and earnings components in predicting future cash flows. The purpose of this study was to find empirical evidence of predictive models of future cash flows. Data used in this research is financial statement data of manufacturing companies listed in Indonesia Stock Exchange (BEI) in 2001-2009. Independent variables used are cash flow from operations (CFO), cash flow investments (CFI), cash flow financing (CFF), income (EA) with the 2001-2008 study period, and the dependent variable in the form of cash flow (CF) in the period 2003 - 2009. By using multiple regression and SPSS 17 applications and MAPE, this study tries to examine the components of cash flow and profits that can build predictive models which can evaluate cash flow accurately. The results were as follows: (1) significant operating cash flow for the prediction of cash flows, (2) significant investment of cash flow for the prediction of cash flows, (3) significant financing cash flows for the prediction of cash flows, (4) significant profit for the prediction of cash flows, (5) jointly significant profit for the prediction of cash flows.