#TITLE_ALTERNATIVE#
Abstract: <br /> <br /> <br /> <br /> The analysis of the working capital policy performed in PT. Perkebunan Nusantara III Medan is headed for observing the present policy of working capital in a company and determining the alternative of working capital policy for the com...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/7987 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Abstract: <br />
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The analysis of the working capital policy performed in PT. Perkebunan Nusantara III Medan is headed for observing the present policy of working capital in a company and determining the alternative of working capital policy for the coming four periods. This working capital policy may be viewed from the company performance, based on the analysis of financial ratios, the working capital funding by looking both short term and long term of its financial source to support current assets, the distribution of source and the using of source in the company. <br />
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The policy of working capital, which is very aggressive during these days causes crisis of working capital in the company. This is caused by the ineffective distribution and using of its source. The company uses most of its short term financial source to funding the long term investment. Moreover, the crisis of working capital is also caused by the decline of the companys profit till 62%. Selling price of each commodity is decreasing because of the slack of agricultural commodity market, especially for exporting since there is over supply for rubber, oil-palm, cocoa commodities in the world, the local demand for certain commodities lessens because the economic activities hasnt got recovered yet and the value of Indonesian Rupiah is on the increase towards its of American Dollar. Besides, the production cost has been increasing, particularly for fuel oil, fertilizer and medicine. <br />
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To establish the policy of working capital for the coming four periods, three scenarios has been arranged, i.e. deteriorating, constant and improving economy. Generally, there are three strategies of working capital policy, i.e. aggressive, moderate and conservative. One thing which influences the working capital policy in a company is the companys attitude towards the trade off between the risk and the profitability. <br />
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