Analisis Tingkat Perputaran Modal Kerja dan Implikasinya Terhadap Likuiditas PT.Pinago Tbk Periode 2017-2019

Authors

  • Amelia Sagita Pebrianti Universitas Indo Global Mandiri
  • Harsi Romli Universitas Indo Global Mandiri
  • RM Rum Hendarmin Universitas Indo Global Mandiri

DOI:

https://doi.org/10.47747/jbme.v1i3.409

Keywords:

cash turnover, accounts receivable turnover, inventory turnover, net working capital, current ratio

Abstract

This study aims to analyze the level of working capital turnover and liquidity of PT. Pinago Tbk in 2017-2019. The data used is secondary data sourced from the company's financial statements. Qualitative descriptive analysis techniques are applied in this research. To analyze working capital turnover using several measurement methods, namely cash turnover (CTO), account receivable turnover (ARTO), inventory turnover (ITO), and net working capital (NWC). Meanwhile, to analyze the liquidity ratio, researchers consider the current ratio (CR). The results of the study prove that during the observation period the working capital turnover rate of PT. Pinago Utama Tbk based on cash turnover experienced a downward movement by an average of 26.17 times, but the working capital turnover rate based on account receivable turnover increased by an average of 5.29 times, then the working capital turnover rate was successively based on inventory turnover. and net working capital turnover experienced fluctuating movements with an average of 11.27 times and 5.073 times. The results also show the level of liquidity of PT. Pinago Utama Tbk during the observation period as seen from the current ratio showed a fluctuating movement with an average of 125%.

References

Atika, Laras Nada Wahyu, and Agus Sukoco. 2019. “Effectiveness Analysis of Working Capital on MSME Handycraft.” Journal of World Conference (JWC) 1(1): 127–33.

Chowdhury, Anup, and Md Muntasir Amin. 2007. “Working Capital Management Practiced in Pharmaceutical Companies Listed in Dhaka Stock Exchange.” BRAC University Journal IV(2): 75–86.

Ganesan, C., & Nirmal Dev, M. (2019). Working capital management and ratio analysis of paper mills. Indian Journal of Public Health Research and Development, 10(11), 482–487. https://doi.org/10.5958/0976-5506.2019.03518.6

Ghodrati, Hassan, and Jaber Ghanbari. 2014. “A Study on Relationship between Working Capital and Profitability.” Management Science Letters 4(8): 1675–84.

Kasiran, F. W., Mohamad, N. A., & Chin, O. (2016). Working Capital Management Efficiency: A Study on the Small Medium Enterprise in Malaysia. Procedia Economics and Finance, 35(October 2015), 297–303. https://doi.org/10.1016/s2212-5671(16)00037-x

Kasmir (2016). Analisis Laporan Keuangan. Jakarta:Raja Grafindo Persada.

Munawir, H. S. (2010) Analisa Laporan Keuangan. Yogyakarta : Liberty

Riyanto, Bambang (2001). Dasar-Dasar Pembelanjaan Perusahaan. Edisi Keempat Cet. Ke-7. Yogyakarta : BPFE Yogyakarta

Reimeinda, V. (2016). Analisis Pengaruh Modal Kerja Terhadap Profitabilitas Pada Industri Telekomunikasi Di Indonesia. Jurnal Berkala Ilmiah Efisiensi, 16(3), 207–218.

Romli, Hasri. (2017). Perputaran Modal Kerja dan Implikasinya Terhadap Penjualan dan Kinerja Profitabilitas PT.Semen Baturaja (Persero) Tbk. RWTC Success : Bogor

Stice, Stice, & Skousen (2014). Akuntansi Keungan : Intermediate Accounting. Salemba Empat.

Subagio, K. M. P. (2017). Analisis Pengelolaan Modal Kerja Dalam Upaya Meningkatkan Likuiditas dan Profitabilitas. Jurnal Administrasi Bisnis, 51(1), 15–24.

Mcguire, J. B., Sundgren, A., & Schneeweis, T. (1988). Corporate Social Responsibility and Firm Financial Performance Author ( s ): Jean B . McGuire , Alison Sundgren and Thomas Schneeweis Published by : Academy of Management Stable URL : http://www.jstor.org/stable/256342 Accessed : 08-03-2016 16 : 58 UTC Yo. Academy of Management Journal, 31(4), 854–872.

PT. Pinago Utama. (2020). Laporan Keuangan PT. Pinago Utama.

Qadir, S., & Ahmad, A. (2017). The Working Capital and Its Ratios: A Qualitative Study. International Journal of Statistics and Actuarial Science, 1(1), 24–30. https://doi.org/10.11648/j.ijsas.20170101.15

Tewolde, S. (2002). Working capital management: the case of government-owned, transitional, and privatised manufacturing firms in Eritrea.

Vishnani, Sushma, and Bhupesh Kr. Shah. 2007. “Impact of Working Capital Management Policies on Corporate Performance—An Empirical Study.” Global Business Review 8(2): 267–81. https://econpapers.repec.org/RePEc:sae:globus:v:8:y:2007:i:2:p:267-281.

Downloads

Published

2021-09-30

How to Cite

Pebrianti, A. S., Romli, H., & Hendarmin, R. R. (2021). Analisis Tingkat Perputaran Modal Kerja dan Implikasinya Terhadap Likuiditas PT.Pinago Tbk Periode 2017-2019. Jurnal Bisnis, Manajemen, Dan Ekonomi, 1(3), 53 - 65. https://doi.org/10.47747/jbme.v1i3.409

Issue

Vol. 1 No. 3 (2020): Jurnal Bisnis, Manajemen, dan Ekonomi

Section

Articles

License

Copyright (c) 2021 Amelia Sagita Pebrianti, Harsi Romli, RM Rum Hendarmin

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright for this article is retained by the author(s), with first publication rights granted to the journal.

This is an open-access article distributed under the terms and conditions of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/4.0/)