ANALISIS MODAL KERJA DAN PROFITABILITAS PADA PT. PERTANI (PERSERO) CABANG KALIMANTAN TIMUR

Abstract

The company’s survival is influenced by many things, among others, the right of discretion in the management of working capital and the profitability of the company itself. This research examines the company engaged in agribusiness.

This study aims to determine the increase in terms of working capital elements measured from cash turnover, accounts receivable turnover and inventory turnover as well as knowing the increase in profitability measured from return on assets of the year, in 2014 until 2017.

The theory of this research is financial management which emphasizes on financial statement analysis using four ratios, namely cash turnover ratio, accounts receivable turnover ratio, inventory turnover ratio and profitability ratio measured from return on assets.

The results showed: 1) Cash turnover in 2014 was 49 times and continued to decline in the following year. 2) In 2014, receivable turnover of 60 times and continues to decline in the following year. 3) Inventory turnover has increased in 2015 by 64.47 times and has decreased in 2016 and 2017. 4) Return on assets has increased in 2015 by 57% and has decreased in 2016 and 2017.