Analisis Capital Budgeting Sebagai Dasar Pengambilan Keputusan Investasi Aktiva Tetap (Studi Kasus Pada PT. Blue Sky Travel Surabaya)

Competition in all sectors of the business makes the company should be able to improve and enhance their business. In order to overcome those obstacles, PT. Blue Sky Travel Surabaya planned to replace fixed assets on travel cars. The replacement of fixed assets was done because its cars has been entering its critical economic period. In order to make business plan, we need a large amount of money, so that we need a precise analysis and calculation. The use of capital budgeting to consider whether business plan is adequate to be implemented or not. The analysis made by author resulted Accounting Rate of Return (ARR) 20,486% higher than discount factor 6,651%, Payback Period (PP) resulted 4 years 1 day less than economical assets period 8 years, Net Present Value (NPV) resulted positive value of Rp. 755.413.522, Benefit Cost Ratio (B/C Ratio) resulted 1,7116, and Internal Rate of Return (IRR) resulted 20,9878% higher than discount factor 6,651% that indicates the replacement investment program in PT Blue Sky Travel Surabaya is adequate to be implemented