Tri Handayani


This research is a case studi at Surya Asbest Cement Beringin Company
Malang entitles ?The Use of Financing Source Fixed Asset With Leasing As An Alternatif In Comparison to Bank Loan?.
The objective of this research is to analize and compare the more effective
Financing source in establishing Fixed Asset, it is by using Leasing or Bank Loan At Surya Asbest Cement Beringin Malang.
In this research, analysis used by the writer in deciding the more effective financing source, whether it is leasing or bank loan, is work productivity and NPV analysis. The measuring rod of these analysis is the number of company productivity deviation andPV on outflow cash in which the smallest of PV, the best one it is.
The evaluation result conducted by writer to the company shows hat company demands increase from one year to another, but the company can not fulfill those demands due to its limited productivity of press stone walls machine had by the company. It will raise much lose to the company if they do not try to add its asset. One thing they do to address this problem is by making any expansions trough the adding of press stone walls machine. The cost of this new effort can be met through bank loan or leasing.
From the analysis result of Cash Out Flow it is suggested that the company will get their profit more if they used leasing instead of bank loan in increasing their fixed asset. This kind of financing will give gain more to company because they can save their tax paid and the net expense can be reduced more in comparison to bank loan.
Moreover, from Gain and Lose projection point of view in the next year, the gain or profit got by the company will be higher if they used leasing than bank loan. And Cash In Flow for the next year shows to be higher when the company uses leasing in comparison to bank loan.
Based on the conclusion above, writer can draws a deduction tahat the company should increase their effectivity on production if they make expansion using leasing. It is aimed at gaining higher out put so that the company will be able to fulfil any demands asked.


Keyword : pembelanjaan aktiva; hutang bank


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pembelanjaan aktiva; hutang bank