Abstract
In the development of free trade and great globalization to the way the company in carrying out operational activities in order to be more effective and efficient. This study aims to determine the turnover of working capital, receivable turnover, cash turnover and inventory turnover of Net Profit Margin (NPM) in consumer goods industry companies listed on the Indonesia Stock Exchange period 2012-2016. The sampling technique used is purposive sampling with the criteria of Consumer Goods Industry which always present the financial statements as of December 2012-2016. The results of this study indicate that partially working capital turnover and receivable turnover have no significant effect on net profit margin, while receivable turnover and cash turnover and inventory turnover significantly influence net profit margin. But simultaneously rotation of working capital, receivable turnover, cash turnover and inventory turnover significantly affect net profit margin. The Adjusted R square value shows that secar jointly with working capital turnover, receivable turnover, cash turnover and inventory turnover contributed to net profit margin of 38.3% while the remaining 61.2% was influenced by other variables not included in this study.
Highlights
PENDAHULUAN Pada perkembangan perdagangan bebas dan globalisasi terhadap cara perusahaan dalam menjalankan kegiatan operasional agar senantiasa semakin efektif dan efesien
This study aims to determine the turnover of working capital, receivable turnover, cash turnover and inventory turnover of Net Profit Margin (NPM) in consumer goods industry companies listed on the Indonesia Stock Exchange period 2012-2016
The results of this study indicate that partially working capital turnover and receivable turnover have no significant effect on net profit margin, while receivable turnover and cash turnover and inventory turnover significantly influence net profit margin
Summary
Desain penelitian merupakan rencana yang akan ditempuh dalam penelitian, sehingga rumusan masalah dan hipotesis yang diajukan dapat dijawab dan diuji secara akurat. Akan tetapi cash turnover yang berlebih-lebihan tingginya dapat berarti bahwa jumlah kas yang tersedia terlalu kecil untuk volume penjualan.Rasio perputaran kas berfungsi untuk mengukur tingkat kecukupan modal kerja perusahaan yang dibutuhkan untuk membayar tagihan dan membiayai penjualan.Artinya rasio ini digunakan untuk mengukur tingkat ketersediaan kas untuk membayar tagihan (untung) dan biaya-biaya yang berkaitan dengan penjualan. Perputaran persediaan merupakan rasio yang digunakan untuk mengukur berapa kali dana yang tertanam dalam persediaan akan berputar dalam satu periode atau berapa lama (dalam hari) rata-rata persediaan tersimpan di dalam gudang hingga akhirnya terjual(Hery, 2015:182). Net Profit Margin merupakan rasio ini sangat penting bagi manajer operasi karena mencerminkan strategi penetapan harga penjualan yang diterapkan perusahaan dan kemampuannya untuk mengendalikan beban usaha.Semakin besarNet Profit Margin berarti semakin efisien perusahaan tersebut dalam mengeluarkan biaya-biaya sehubungan dengan kegiatan operasinya
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