Effects of Cash, Receivables, and Inventory Turns on the Profitability of Pharmaceutical Companies

Yulia Ayu Hanifah, Darno Darno


Competition in the business world makes each company increasingly able to improve its performance in order to achieve the company's goals to get the maximum profit so that the company is able to develop and compete with other companies. In this era of globalization, the emergence of new competitors in various industrial sectors of the company can make competition in business from the last few years very tight. So that requires each company to implement a management system in accordance with procedures in order to develop and run their businesses effectively. Theories that will be explained in this research are about Return on assets and Return On equity, and Net profit margin and also Company Value. This study used a non-experimental research type. Non-experimental research is a part of research in which observations can be carried out on a number of variables contained in the research subject reviewed according to the actual conditions without manipulation of data processed by the researcher. Because in this study the actual data used from the financial statements of pharmaceutical companies contained on the Stock Exchange regarding receivables turnover, as well as cash turnover as well as inventory turnover on profitability (Y). Receivables turnover, cash turnover and inventory turnover on a continuous and positive and significant effect on the profitability of pharmaceutical companies, especially those on the Indonesia Stock Exchange in 2014-2017. The results obtained after testing the hypothesis using the F-test and obtained a significant value <0.05. Where these results indicate there is a significant influence, so the hypothesis is very acceptable and proven true.


Receivables; Inventory Turnover; Profitability

Full Text:



Aaker, J. dan Smith A. 2016. Quick, Effective, and Powerful Ways to Use Social Media to Drive Social Change. ISBN 978-0-470-61415-0. Jossey-Bass.

Agus Ristono. 2015. Manajemen Persediaan. Penerbit Graha Ilmu, Yogyakarta.

Ahmad, Komaruddin. 2015. Dasar-Dasar Manajemen Investasi dan Portofolio. Jakarta : PT.Rineka Cipta.

Arikunto, Suharsimi. 2016. Prosedur Penelitian Suatu Pendekatan Praktik. Jakarta : Rineka Cipta

Baridwan, Zaki. (2015). Intermediate Accounting, Edisi Ketujuh, BPFE, Yogyakarta.

Brigham, Eugene.F dan Joel F. Houston. 2014. ManajemenKeuangan. Edisi Ke-21 Buku 2. Jakarta: Erlangga.

Ghozali, Imam. 2014. Aplikasi Analisis Multivariate dengan Program SPSS Edisi Kesembilan. Semarang: Badan Penerbit Universitas Diponegoro.

Husnan, Suad. (2014). Dasar-Dasar Teori Portofolio dan Analisis Sekuritas, AMP YKPN ,Yogyakarta.

Kasmir. 2014. Manajemen Perbankan. Jakarta: Rajawali Pers.

Kieso, Donald, Jerry J, dkk. 2017. Intermediate Accounting edisi IFRS. Jakarta: Erlangga.

Munawir. 2013. Analisa Laporan Keuangan. Yogyakarta : Liberty

Muslich, Mohamad. 2013. Manajemen Keuangan Modern Analisis, Perencanaan dan Kebijaksanaan, Cetakan Keempat. Jakarta: Bumi Aksara.

Pratowo, dwi dan juliaty,2014, analisis laporan keuangan, konsep dan aplikasi, Yogyakarta

R. Agus Sartono. 2013. Manajemen Keuangan Teori dan Aplikasi. Edisi Ke Empat, BPFE, Yogyakarta.

Reeves, James. M., Warren, Carl S., dkk. 2014, Pengantar Akuntansi (Adaptasi Indonesia) Buku I. Jakarta: Salemba Empat.

Riyanto, Bambang. 2014. Dasar-Dasar Pembelanjaan Perusahaan, Edisi Keempat.Yogyakarta: BPFE.

Rudianto. 2013. Pengantar Akuntansi. Jakarta: Penerbit Erlangga.

Sudana, I Made. 2014. Manajemen Keuangan Perusahaan Teori dan Praktek. Jakarta: Erlangga.

Sudjana. (2014). Metode Statistika. Bandung: Transito.

Sugiyono. 2016. Metode Penelitian Pendidikan (Pendekatan Kuantitatif, Kualitatif dan R&D. Bandung : Alfabeta

Sujarweni, V. Wiratna. 2015. Statistik untuk Bisnis dan Ekonomi. Yogyakarta: Pustaka Baru Press.

Stice, Stice, Skousen. 2014. Akuntansi Keuangan, Buku I Edisi 16. PT Raja Jakarta: Grafindo Persada.

Syamsudin, Lukman. 2015. Manajemen Keuangan Perusahaan. Jakarta: Raja Grafindo Persada.

Tandelilin, Eduardus. 2014. “Portofolio dan Investasi : Teori dan Aplikasi”. Edisi keempat. Yogyakarta : Kanisius.


  • There are currently no refbacks.

Copyright (c) 2020 Neraca : Jurnal Akuntansi Terapan

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


Neraca : Jurnal Akuntansi Terapan

ISSN Media online 2715-1212

Email : neracajurnalakuntansiterapan@gmail.com

Website: http://ojs.stiami.ac.id/index.php/JATIBARU/index