ABSTRAK. Kata-kata kunci : kebijakan modal kerja, Debt Ratio, Debt To Equity Ratio, time Interest Earned, dan Equity Multiplayer

Generated by Foxit PDF Creator © Foxit Software http://www.foxitsoftware.com For evaluation only.

ABSTRAK Besarnya kontribusi yang diberikan UKM terhadap perekonomian Indonesia, membuatnya memerlukan pengelolaan modal kerja yang baik demi perkembangan perekonomian dimasa yang akan datang. Penelitian ini mencoba menggambarkan peranan manajemen modal kerja dalam menangani masalah solvabilitas usaha kecil dan menengah. Adapun variabel yang digunakan meliputi kebijakan modal kerja dan rasio solvabilitas. Rasio solvabilitas yang digunakan meliputi Debt Ratio, Debt To Equity Ratio, Time Interest Earned, dan Equity Multiplayer. Data yang digunakan adalah data primer yang didapat melalui wawancara dan pengumpulan dokumen yang berkaitan dengan objek penelitian. Hasil penelitian menunjukan bahwa kebijakan modal kerja berperan dalam naik turunnya tingkat solvabilitas perusahaan. Solvabilitas perusahaan meningkat saat perusahaan menggunakan strategi aktiva lancar konservatif dan strategi pendanaan konservatif, sedangkan solvabilitas perusahaan memburuk saat perusahaan menggunakan strategi aktiva lancar Agresif dan strategi pendanaan konservatif. Kata-kata kunci : kebijakan modal kerja, Debt Ratio, Debt To Equity Ratio, time Interest Earned, dan Equity Multiplayer.

Universitas Kristen Maranatha


DAFTAR ISI Halaman HALAMAN JUDUL .................................................................................................i HALAMAN PENGESAHAN .................................................................................. ii SURAT PERNYATAAN KEASLIAN SKRIPSI .................................................... iii KATA PENGANTAR ............................................................................................. iv ABSTRAK .............................................................................................................vii DAFTAR ISI ........................................................................................................ viii DAFTAR GAMBAR ................................................................................................ x DAFTAR TABEL ................................................................................................... xi DAFTAR LAMPIRAN ...........................................................................................xii

BAB I PENDAHULUAN ........................................................................................ 1 1.1 Latar Belakang Penelitian ...................................................................... 1 1.2. Identifikasi Masalah .............................................................................. 6 1.3. Maksud dan Tujuan Penelitian ............................................................... 7 1.4. Kegunaan Penelitian ............................................................................. 7

BAB II KAJIAN PUSTAKA DAN KERANGKA PEMIKIRAN .............................. 9 2.1. Modal kerja ........................................................................................... 9 2.2. Klasifikasi Modal Kerja ....................................................................... 10 2.3. Fungsi Modal Kerja ............................................................................. 12 2.4. Faktor-faktor yang Mempengaruhi Tingkat Modal Kerja ..................... 13 2.4.1. Faktor yang Mempengaruhi Aktiva Lancar ............................ 13 2.4.2. Faktor yang Mempengaruhi Utang Lancar ............................. 14 2.5. Sumber dan Penggunaan Modal Kerja ................................................. 16 2.6. Strategi Modal Kerja ............................................................................ 19 2.6.1. Strategi Aktiva Lancar .......................................................... 19 2.6.2. Strategi Pendanaan ................................................................ 19 2.7. Manajemen Modal Kerja ..................................................................... 21 2.7.1 Manajemen Kas ..................................................................... 22 2.7.1.1. Mempercepat Pemasukan Kas ................................ 25 2.7.1.2. Memperlambat Pengeluaran Kas ............................ 26 2.7.1.3. Menentukan Saldo Kas Optimal ............................. 27 2.7.2. Manajemen Piutang ............................................................... 29 2.7.2.1. Faktor yang Mempengaruhi Besarnya Piutang ....... 31 2.7.2.2. Kebijakan Pemberian Piutang ................................ 31 ii Universitas Kristen Maranatha


2.7.2.3. Pengendalian Piutang ............................................. 34 2.7.3. Manajemen Persediaan .......................................................... 36 2.7.3.1. Tipe persediaan ....................................................... 37 2.7.3.2. Penentuan tingkat persediaan yang optimal ............ 38 2.7.3.3. Sistem Pengendalian Persediaan ........................... 39 2.8. Menghitung Kebutuhan & Perputaran Modal Kerja ............................ 40 2.8.1. Metode Perputaran Aset ........................................................ 40 2.8.2. Metode Keterikatan dana ....................................................... 41 2.9. Hubungan Modal Kerja dengan Sovabilitas ....................................... 42 2.10.Kerangka Pemikiran ........................................................................... 45 BAB III METODE PENELITIAN ......................................................................... 47 3.1. Objek Penelitian ................................................................................. 47 3.1.1. Gambaran Umum Perusahaan ................................................ 47 3.2. Metode Penelitian ............................................................................... 50 3.2.1. Jenis Penelitian .................................................................... 50 3.2.2. Definisi Operasional ............................................................ 51 3.2.3. Populasi & Sampel .............................................................. 51 3.2.4. Jenis Data ........................................................................... 52 3.2.5. Teknik Pengumpulan Data .................................................. 52 3.2.6. Analisis Data ....................................................................... 53 BAB IV PEMBAHASAN ..................................................................................... 54 4.1. Analisis Kebijakan Modal kerja Perusahaan ........................................ 54 4.2. Penilaian Kinerja Keuangan dengan Menggunakan Rasio Solvabilitas . 66 4.2.1. Debt Ratio ........................................................................... 66 4.2.2. Debt To Equity Ratio ........................................................... 67 4.2.3. Time Interest Earned (TIE) .................................................. 68 4.2.4. Equity Multiplayer (EM) ..................................................... 69 4.3. Hubungan Strategi Modal Kerja dengan Tingkat Solvabilitas Perusahaan ...................................................................... 70 BAB V SIMPULAN DAN SARAN ...................................................................... 73 5.1. Kesimpulan ........................................................................................ 73 5.2. Saran .................................................................................................. 74 DAFTAR PUSTAKA ............................................................................................. 75 LAMPIRAN ........................................................................................................... 76 CURRICULUM VITAE ........................................................................................... 85

iii Universitas Kristen Maranatha


DAFTAR TABEL Halaman Tabel 4.1

Neraca Prisma Studio Meubel Per 31 Desember 2004 .................... 54

Tabel 4.2

Laporan Laba Rugi Prisma Studio Meubel Per 31 Desember 2004 ................................................................... 55

Tabel 4.3

Neraca Prisma Studio Meubel Per 31 Desember 2005 ..................... 57

Tabel 4.4

Laporan Laba Rugi Prisma Studio Meubel Per 31 Desember 2005 .................................................................... 58

Tabel 4.5

Laporan Sumber dan Penggunaan Modal Kerja Prisma Studio Meubel Tahun 2004-2005 ............................................................... 58

Tabel 4.6

Neraca Prisma Studio Meubel Per 31 Desember 2006 ..................... 60

Tabel 4.7

Laporan Laba Rugi Prisma Studio Meubel Per 31 Desember 2006 ................................................................... 61 Laporan Sumber dan Penggunaan Modal Kerja Prisma Studio Meubel Tahun 2005-2006 .............................................................. 61 Neraca Prisma Studio Meubel Per 31 Desember 2007 ..................... 63 Laporan Laba Rugi Prisma Studio Meubel Per 31 Desember 2007 .................................................................... 64 Laporan Sumber dan Penggunaan Modal Kerja Prisma Studio Meubel Tahun 2006-2007 ............................................................... 64 Perkembangan Debt Ratio Prisma Studio Meubel Tahun 2004 – 2007 ......................................................................... 66 Perkembangan Debt To Equity Ratio Prisma Studio Meubel Tahun 2004 – 2007 ......................................................................... 67 Perkembangan Time Interest Earned Prisma Studio Meubel Tahun 2004 – 2007 ......................................................................... 68 Perkembangan Equity Multiplayer Prisma Studio Meubel Tahun 2004 – 2007 ......................................................................... 69 Penerapan Strategi Modal Kerja Prisma Studio Meubel Tahun 2004 – 2007 ......................................................................... 70

Tabel 4.8 Tabel 4.9 Tabel 4.10 Tabel 4.11 Tabel 4.12 Tabel 4.13 Tabel 4.14 Tabel 4.15 Tabel 4.16

iv Universitas Kristen Maranatha


DAFTAR GAMBAR Halaman Gambar 2.1

Siklus kas ............................................................................................... 24

Gambar 2.2

Kerangka Pemikiran ............................................................................. 45

v Universitas Kristen Maranatha


DAFTAR LAMPIRAN Halaman Lampiran A

Neraca Prisma Studio Meubel Periode 2004-2007............................ 76

Lampiran B

Laba Rugi Prisma Studio Meubel Periode 2004-2007 ..................... 77

Lampiran C

Harga Pokok Penjualan Prisma Studio Meubel Periode 2004-2007 ........................................................................... 78

Lampiran D

Rekapitulasi Persediaan Prisma Studio Meubel Periode 2004-2007 .......................................................................... 79

Lampiran E

Rincian Pendapatan & Biaya Prisma Studio Meubel Periode 2004-2007 ........................................................................... 80

Lampiran F

Kertas Kerja Laporan Sumber Dan Penggunaan Modal Kerja Prisma Studio Meubel Tahun 2004-2005 .......................................... 82

Lampiran G


Lampiran H


vi Universitas Kristen Maranatha

ABSTRAK. Kata-kata kunci : kebijakan modal kerja, Debt Ratio, Debt To Equity Ratio, time Interest Earned, dan Equity Multiplayer

Recommend Documents