PENGARUH KOMPREHENSIF ATAS STRATEGI MODAL KERJA MELALUI RASIO PERDAGANGAN (Merchandising Ratio)

The implementation of working capital strategy of successful companies could be observed from its cash conversion cycle. Effective working capital strategy will lead to an increasing to an increase of a firm's value. This thesis has two objectives : Firstly, it analyse the interrelationships between the merchandising ratio with the return on assets ratio and the long-term debt to total assets ratio. These two ratios have the ability to check the effectiveness of a firm's working capital management. Secondly, it analyse the effective of the firm's management of cash, receivable, inventory and payables.The writer is using the descriptive analysis method which describe the retail firm's working capital strategy from the financial statement information, and the correlation analysis method that detects the correlation between the merchandising ratio and the traditional ratio.The analysis shows that PT Hero Supermarket, PT Matahari Putra Prima and PT Ma Retailindo have good and effective working capital strategy. The merchandising ratio has positive correlation with the return on assets ratio and negative correlation with the debt to total assets ratio.The purpose of this research is to prove the effectiveness in using the cash conversion cycle strategy. PT Hero Supermarket, PT Matahari Putra Prima and PT Alfa Retailindo should emphasize on their inventory management so that the percentage of sales growth is accompled by an equivalent increase in its inventory. Apart from that, these compa Iles should focus on their payables management by maximize the debt benefit.Crucial terms: working capital strategy, merchandising ratio and cash conversion cycle.

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AGGREGATE AND DISAGGREGATE MEASURES OF OPERATING AND NON-OPERATING WORKING CAPITAL INFLUENCE ON FIRM PERFORMANCE: EVIDENCE FROM MALAYSIA

International Journal of Banking and Finance - Vol. 15, Number 2, 2020 ◽

10.32890/ijbf2022.17.1.1 ◽

2021 ◽

Vol 17 (No.1) ◽

pp. 1-26

Author(s):

Rabia Bashir ◽

Angappan Regupathi

Keyword(s):

Firm Performance ◽

Tobin’S Q ◽

Working Capital ◽

Short Term ◽

Return On Assets ◽

Tobin's Q ◽

Cash Conversion Cycle ◽

Long Term Performance ◽

Term Performance

The study is aimed at investigating the following issues: firstly, whether the different types of working capital, namely operating and non-operating working capital influence the short-term (return on assets) and long-term (Tobin’s Q) firm performance differently, and secondly whether the different measures of operating working capital, namely disaggregated and aggregated (cash conversion cycle) operating working capital, influence the short-term (return on assets) and long-term (Tobin’s Q) firm performance differently. It uses the panel data of 208 listed non-financial firms in Malaysia covering the period from 2013 to 2017, and the data has been sourced from Datastream. It employs the panel corrected standard errors regression model. The study has found that quicker sale of inventory increased both the short-term and long-term performance of the firm. Likewise, faster collection of receivables increased the long-term, but not short- term, performance. However, prompter payment of payables increased both the short-term and long-term performance. The study has also found that the disaggregated working capital measures – inventory, receivables, and payables contributed to a more nuanced influence of working capital on performance, compared to the aggregated working capital. The study has provided novel evidence that– higher non- operating working capital increased firm performance.

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PENGARUH MODAL KERJA TERHADAP PROFITABILITAS STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

El Muhasaba Jurnal Akuntansi ◽

10.18860/em.v4i1.2332 ◽

2013 ◽

Vol 4 (1) ◽

Author(s):

Eva Larasati ◽

Selmita Paranoan

Keyword(s):

Stock Exchange ◽

Financial Statement ◽

Financial Assets ◽

Debt Ratio ◽

Sales Growth ◽

Working Capital ◽

Growth Ratio ◽

Purposive Sampling ◽

Cash Conversion Cycle ◽

Accounts Payable

ABSTRACT Indonesia had instability economics situation which can affect to how manage an efficient working capital then capable to increase a profitability. This research is aimed to test how a working capital (which is sales growth ratio, financial debt ratio, fixed financial assets ratio, number of days accounts receivable, number of days inventories, number of days accounts payable, cash conversion cycle) can influenced a profitability of food and beverages companies. This Research is implemented to 12 Foods and Beverages company which is listed in The INDONESIA Stock Exchange from 2006-2011. Meanwhile, the evaluation of annual performance of this companies had audited from chosen public accountant. Data of financial statement as the object for this research was 5 years financial statement, from 2006 until 2011. Data of this research which has been used is secondary data with purposive sampling method. Analysis method used for this research is multi regression analysis.There was one of variable, a number of days account payable, must removed from a model based on enter removed test. The results is all independed variables can influenced to profitability simultanoues. But the only one of independend variable, number of days inventories can affect to profitability, when it tested partially. Keyword : working capital, profitability ABSTRAK Indonesia memiliki ketidakstabilan situasi ekonomi yang dapat mempengaruhi cara mengelola efisiensi modal kerja yang mampu meningkatkan profitabilitas. Penelitian ini bertujuan untuk menguji bagaimana modal kerja (yang merupakan sales growth ratio, financial debt ratio, fixed financial assets ratio, number of days accounts receivable, number of days inventories, number of days accounts payable, cash conversion cycle) dapat dipengaruhi profitabilitaspada perusahaan makanan dan minuman.Penelitian ini dilaksanakan untuk 12 Perusahaan Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia tahun 2006-2011. Evaluasi kinerja tahunan perusahaan telah diaudit dari akuntan publik yang dipilih. Obyek penelitian ini adalah Data laporan keuangan selama 5 tahun, dari 2006 sampai 2011. Data dari penelitian ini yang telah digunakan adalah data sekunder dengan metode purposive sampling. Metode analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda.Salah satu variabel, number of days account payable (jumlah hari akun hutang), harus dihapus dari model yang didasarkan pada Analisis Entered/Removed. Hasil penelitian menunjukkan semua variabel Independen dapat berpengaruh terhadap profitabilitas secara simultan. Namunhanya satu variabel independen yaitunumber of days inventories(jumlah hari persediaan) dapat mempengaruhi profitabilitas, ketika diuji secara parsial. Kata kunci: Modal kerja, Profitabilitas

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The Company's Working Capital during the Covid-19 Pandemic to Increase the Profitability Limited Company Telkomsel in Makassar City

Pinisi Business Administration Review ◽

10.26858/pbar.v2i2.19030 ◽

2021 ◽

Vol 2 (2) ◽

pp. 135

Author(s):

Muhammad Luthfi Siraj ◽

Aslinda Aslinda ◽

M Awaluddin ◽

Maya Kasmita ◽

Andi Caesar To Taddampali

Keyword(s):

Descriptive Analysis ◽

Financial Statement ◽

Observation Data ◽

Analysis Method ◽

Capital Management ◽

Working Capital ◽

Working Capital Management ◽

Financial Ratio ◽

Financial Ratio Analysis ◽

Limited Company

This study aims to determine the optimization of working capital in increasing the profitability of Limited Company Telkomsel. The research method used is descriptive with a quantitative approach using financial statement data sources for the three years 2017 to 2019. This research uses observation data collection techniques, questionnaires and documentation. Descriptive analysis method and inferential statistical analysis with financial ratio analysis by comparing the current ratio with the ratio in the previous year. From the analysis and discussion results indicate that Limited Company Telkomsel, experienced that the overall working capital management was not optimal from 2017 to 2019. Working capital management could not run optimally because of the working capital turnover that occurred at Limited Company Telkomsel only reached the highest number of 4.42 times, while looking at the lowest cash turnover in 2019 which reached 2.61 times. Turnover of working capital at Limited Company. Although it is considered that Telkomsel has a fairly optimal cash and receivable turnover rate, this has not been able to significantly increase the company's profitability compared to previous years.

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ANALYSIS OF FINANCIAL PERFORMANCE IN PT ARWANA CITRA MULIA TBK

Jurnal Soso-Q ◽

10.30598/sosoq.v8i1.1078 ◽

2020 ◽

Vol 8 (1) ◽

Author(s):

Roy Seleky

Keyword(s):

Financial Performance ◽

Descriptive Analysis ◽

Financial Statement ◽

Ratio Analysis ◽

Analysis Method ◽

Working Capital ◽

Quantitative Descriptive Analysis ◽

Financial Ratio ◽

Financial Ratio Analysis ◽

Quantitative Descriptive

This study aims to determine and examine the financial performance achievements of PT. Arwana Citra Mulia Tbk. The analysis used is a quantitative descriptive analysis method where the analysis of financial ratios is used to detect financial performance achievements which are then interpreted in order to obtain the achievement of the company's financial performance achievements. PT Arwana Citra Mulia Tbk's financial performance has tended to be educational, where in 2014 year 2015 the analysis of the company's financial performance has decreased. 2016 began to move up to the end of the analysis, which is 2017. Which experienced a slight condition is the achievement of working capital turnover in 2014 to 2015, but after that decreased very dramatically. Based on the results of this financial ratio analysis, it was concluded that the financial performance of PT. Arwana Citra Mulia Tbk. Fluctuating with the best performance in 2015 and 2016 alone. Keyword: Financial Statement => Analysis => Financial Performances Keuangan

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Pertumbuhan Penjualan, Ukuran Perusahaan, Leverage, Modal Kerja, Likuiditas, Perputaran Kas dan Pengaruhnya Terhadap Profitabilitas Pada Industri Makanan dan Minuman yang Listing Di Bursa Efek Indonesia (BEI)

EKONOMIS Journal of Economics and Business ◽

10.33087/ekonomis.v5i2.412 ◽

2021 ◽

Vol 5 (2) ◽

pp. 545

Author(s):

Stefannie Halim ◽

Felicia Felicia ◽

Valencia Lius ◽

Tiffany Veronica ◽

Bayu Wulandari

Keyword(s):

Stock Exchange ◽

Descriptive Analysis ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Company Size ◽

Sales Growth ◽

Manufacturing Companies ◽

Analysis Method ◽

Working Capital ◽

Food And Beverage

This study was made with the aim of testing whether sales growth, company size, leverage, working capital, liquidity, cash turnover have an influence on profitability in manufacturing companies in food and beverage sub-sector for 2017-2019 period.Quantitative methods are used in this analysis. The use of purposive sampling technique leaves 13 (thirteen) companies from the research population as many as 26 (twenty six) companies listed on the Indonesia Stock Exchange (IDX). A total of 39 (thirty nine). The source of the data for this research comes from the financial statements of companies published on www.idx.co.id. The research method used is descriptive analysis method and multiple linear regression analysis method. The dependent variabel in this study is profitability, while the independent variabel are sales growth, company size, leverage,liquidity, and cash turnover.The results obtained in this study are partially sales growth, working capital turnover have a significant effect on profitability, while company size, leverage, liquidity, and cash turnover have no significant effect on profitaibility. The findings of this study suggest that manufacturing companies in food and beverage sub-sector need to pay attention to sales growth and working capital turnover.

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Determinant Return on Assets on Rural Banks in Indonesia

JEJAK ◽

10.15294/jejak.v13i2.26458 ◽

2021 ◽

Vol 13 (2) ◽

pp. 447-459

Author(s):

Amanah Amanah

Keyword(s):

Interest Rates ◽

Descriptive Analysis ◽

Analysis Method ◽

Short Term ◽

Return On Assets ◽

Quantitative Descriptive Analysis ◽

Correction Model ◽

Short Run ◽

Quantitative Descriptive

The problem in this study is that the Trend of Return on Assets (ROA) in Rural Banks tends to decrease. The author uses a quantitative descriptive analysis method and the analytical tool used is the ECM (Error Correction Model), the aim of which is to determine what factors influence the Return on Assets (ROA) of Rural Banks in Indonesia. The findings empirically show that the Amount of Money Supply in the long term had a significant effect on the Return on Assets (ROA) of Rural Banks. Whereas in the short term, no significant effect on ROA, General Capital Reserves in the long term have a significant effect on Return on Assets (ROA), while in the short term have no significant effect on ROA, Non Performing Loan (NPL) in the long term and short term effect significant to Return on Assets (ROA), Consumptive Interest Rates in the long term and short term have no significant effect on Return on Assets (ROA), and Working Capital Interest Rates in the long term and short run have no significant effect on Return on Assets ( ROA) Rural Banks in Indonesia

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ANALISIS LAPORAN KEUANGAN PADA PT. BPR KARTIKA MATUARI DI TOMOHON

Jurnal Akuntansi Manado (JAIM) ◽

10.53682/jaim.v1i3.651 ◽

2021 ◽

pp. 109-115

Author(s):

Konsela Tiwow ◽

Tinneke Evie Meggy Sumual ◽

Florence Moroki

Keyword(s):

Banking Sector ◽

Descriptive Analysis ◽

Balance Sheet ◽

Financial Statements ◽

Financial Statement ◽

Ratio Analysis ◽

Analysis Method ◽

Working Capital ◽

Report Analysis ◽

The Right

Penelitian ini bertujuan untuk menganalisis laporan keuangan PT BPR Kartika Matuari Tomohon berdasarkan rasio CAR, LDR, ROA, dan BOPO dari tahun 2014-2018. Observasi merupakan teknik yang dipakai untuk pengumpulan data dengan mengamati laporan keuangan yang tahunan yang terdiri dari laporan atas laba rugi dan neraca. Metode yang digunakan dalam penelitian ini adalah metode analisis deskriptif dan analisis rasio.. Hasil Penelitian ini menunjukkan bahwa analisis laporan keuangan PT BPR kartika Matuari Tomohon ditinjau dari analisis rasio CAR, LDR, ROA dan BOPO, selama periode 2014–2018. PT. BPR Kartika Matuari Di Tomohon merupakan badan usaha yang bergerak di bidang perbankan. PT. BPR Kartika Matuari Di Tomohon menggunakan informasi laporan keuangan, karena informasi ini sangat membantu pihak manajemen perusahaan terutama yang berhubungan dengan tujuan perusahaan dalam memberikan kredit bagi nasabah. Oleh karena itu agar pemakai laporan keuangan dapat menentukan modal usaha yang tepat maka informasi yang terkandung dalam laporan keuangan harus benar-benar diperhatikan. KatanKuncin: Rasio Keuangan, Analisis Laporan Keuangan, BPR Abstract This research aims to analyze the financial statements of PT BPR Kartika Matuari Tomohon based on the ratio of CAR, LDR, ROA, and BOPO from 2014-2018. Observation is a technique used for data collection by observing the annual financial statements consisting of statements on profit and loss and balance sheet. The method used in this research is descriptive analysis method and ratio analysis. The results of this study indicate that the analysis of the financial statements of PT BPR Kartika Matuari Tomohon in terms of the ratio analysis of CAR, LDR, ROA and BOPO, during the 2014–2018 period. PT. BPR Kartika Matuari Di Tomohon is a business entity engaged in the banking sector. PT. BPR Kartika Matuari in Tomohon uses financial statement information, because this information is very helpful for company management, especially those related to company objectives in providing credit to customers. Therefore, in order for users of financial statements to determine the right working capital, the information contained in the financial statements must be carefully considered. Words Key : Financial Ratios, Report Analysis Finance, Rural Bank.

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ANALISIS LEVERAGE DAN AKTIVITAS DALAM MENGENDALIKAN PROFITABILITAS PADA PT ASTRA OTOPARTS, Tbk YANG TERDAFTAR DI BURSA EFEK INDONESIA

FINANCIAL: JURNAL AKUNTANSI ◽

10.37403/financial.v5i1.88 ◽

2019 ◽

Vol 5 (1) ◽

pp. 20-25

Author(s):

Deby Rizki Amanda Lubis ◽

Jubi Jubi ◽

Ady Inrawan ◽

Ernest Grace

Keyword(s):

Inventory Management ◽

Stock Exchange ◽

Descriptive Analysis ◽

Secondary Data ◽

Financial Statements ◽

The Other ◽

Working Capital ◽

Return On Assets ◽

Accounts Receivable ◽

Qualitative Descriptive

The purpose of this research to know: 1. The description of leverage, activity and profitability at PT Astra Otoparts, Tbk which are listed on the Indonesia Stock Exchange. 2. What factors are cause profitability at PT Astra Otoparts, Tbk which are listed on the Indonesia Stock Exchange tend to decline. This research was conducted using Qualitative Descriptive Analysis and Inductive Analysis. This research was conducted based on secondary data from company financial statements obtained from the Indonesia Stock Exchange. The results of the study can be concluded that: 1. Leverage as measured by Debt to Assets Ratio (DAR) fluctuates and tends to increase. 2. Activities measured by Working Capital Turnover (WCT) fluctuate and tend to increase. 3. Profitability as measured by fluctuating Return On Assets (ROA) tends to decrease. 4. Factors that cause decreased profitability are increased business debt, increased inventory and increased cost of goods sold so that the resulting profit decreases. The results of the study suggest: 1. It is best if the company needs to review the use of corporate debt in financing its activities by carrying out control of accounts receivable and strict supervision and evaluation periodically, so that the risk of such debts can be minimized. 2. It is better for the company to pay more attention to the management of supplies effectively and efficiently so as to produce increased sales. Effective inventory management also needs to pay attention to inventory storage so as not to overload, both obsolete inventory and unsold inventory. 3. It is better for the company to pay more attention to using its assets to generate high sales accompanied by an increase in profit after tax owned by the company to produce good profits. On the other hand the company must also consider the level of operating expenses so as not to over-pressure profits. Keywords: Leverage, Activity, and Profitability

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PENGARUH CASH CONVERSION CYCLE DAN WORKING CAPITAL TURNOVER TERHADAP RETURN ON ASSET PADA INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA

PERFORMANCE Jurnal Bisnis & Akuntansi ◽

10.24929/feb.v5i2.189 ◽

2015 ◽

Vol 5 (2) ◽

pp. 50

Author(s):

Mohammad Herli ◽

Hafidhah ,

Keyword(s):

Consumer Goods ◽

Stock Exchange ◽

Quantitative Approach ◽

Working Capital ◽

Return On Assets ◽

Cash Conversion Cycle ◽

Consumer Goods Industry

This study aimed to examine the effect of the Cash Conversion Cycle and Working Capital Turnover on Return on Assets At the Consumer Goods Industry Listed in Indonesia Stock Exchange (IDX). The method used in this research is the quantitative approach. Results showed variable cash conversion cycle (CCC) and working capital turnover (WCT) simultaneously have a significant effect on profitability (Return on Total Assets). Variabel cash conversion cycle (CCC) partially not have a significant impact on profitability (Return on Total Assets) but variable working capital turnover (WCT) partially have a significant impact on profitability (Return on Total Assets) consumer goods industry issuers listed on the Indonesia Stock Exchange during the period 2010-2014. Keyword : Cash Conversion Cycle, Working Capital Turnover, Return on Assets

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Dollar’s Influence on Crude Oil and Gold Based on MF-DPCCA Method

Discrete Dynamics in Nature and Society ◽

10.1155/2021/5558967 ◽

2021 ◽

Vol 2021 ◽

pp. 1-10

Author(s):

Zhonghui Ding ◽

Kai Shi ◽

Bin Wang

Keyword(s):

Correlation Analysis ◽

Crude Oil ◽

Cross Correlation ◽

Combined Effect ◽

Analysis Method ◽

Correlation Relationship ◽

Cross Correlation Analysis ◽

Correlation Analysis Method ◽

Phase Randomization

This paper analyzed the influence of dollar on crude oil and gold based on the multifractal detrended partial cross-correlation analysis method. It showed that affected by the dollar, the crude oil and gold markets have a partial cross-correlation relationship which is stronger than their own cross-correlation. The partial cross-correlation is long-term and has multifractal characteristics. Through shuffled and Fourier-phase randomization, it is found that this multifractal feature is caused by the combined effect of the long-term cross-correlation between the returns and the fluctuation fat-tailed distribution, where the influence of the fat-tailed distribution is slightly greater than that of the long-term cross-correlation between the returns.

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