Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)

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Cash Flow Projection Analysis with Distributor Financing System at PT Semen Tonasa

Authors
Rustamin Rustam1, *, Sobarsyah1, Mursalim Nohong1
1Hasanuddin University, Makassar, Indonesia
*Corresponding author. Email: rustamin.rustam@sig.id
Corresponding Author
Rustamin Rustam
Available Online 30 July 2025.
DOI
10.2991/978-94-6463-758-8_177How to use a DOI?
Keywords
Cash Flow; Distributor Financing; PT. Semen Tonasa
Abstract

This study investigates: 1) strategies to optimize benefits and mitigate risks in implementing the Distributor Financing (DF) system on PT Semen Tonasa’s cash flow, and 2) the ideal funding amount through the DF system to maximize cash flow projections. Using a qualitative, descriptive analytical approach, data were collected through interviews, observations, questionnaires, and documentation. Subjects were purposively sampled from PT Semen Tonasa’s environment. Data analysis involved condensation, presentation, and conclusion drawing. Findings reveal: 1) the company’s ability to meet current liabilities improved from 0.31 (2020) to 0.43 (2023), needing further efficiency; 2) fluctuating interest coverage ratios, from 39.58 times (2022) to 121.87 times (2023); 3) fluctuating capital expenditure coverage, peaking at 2.49 times (2021) and lowest at 0.85 times (2022), recovering to 1.25 times (2023); 4) fluctuating total debt-to-operating cash flow ratio, with a sharp 2022 increase, indicating debt management challenges; and 5) fluctuating cash flow-to-net income ratio, declining in 2021 and 2022, but recovering in 2023.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
30 July 2025
ISBN
978-94-6463-758-8
ISSN
2352-5428
DOI
10.2991/978-94-6463-758-8_177How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Rustamin Rustam
AU  - Sobarsyah
AU  - Mursalim Nohong
PY  - 2025
DA  - 2025/07/30
TI  - Cash Flow Projection Analysis with Distributor Financing System at PT Semen Tonasa
BT  - Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
PB  - Atlantis Press
SP  - 2221
EP  - 2231
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-758-8_177
DO  - 10.2991/978-94-6463-758-8_177
ID  - Rustam2025
ER  -