Analisis Pengaruh Piutang Usaha dan Arus Kas Operasi terhadap Laba Bersih (Studi Kasus pada PT Kalbe Farma Tbk yang terdaftar di BEI tahun 2007 – 2014)

Abstract

PT Kalbe Farma Tbk is a multinational company that has been transformed from manufacturers of medicines to be one of the leading providers of comprehensive health through the provision of health solutions complete from medicinal products, nutrition, supplements, health food and beverage to include medical equipment, including services primary health center in the capital city of Jakarta, Indonesia.PT Kalbe Farma Tbk was established on 10 September 1966 and has embraced reached a total of 28 international markets. In about 1991, Kalbe listed in the Indonesia Stock Exchange as a public company. The mission of PT Kalbe Farma Tbk. ( "Kalbe") is providing support for the creation of the Indonesian people who have a higher quality of life by providing products that improve the health and comfort of living.For more than 40 years history of the Company, business development have been intensively conducted through strategic acquisitions against other pharmaceutical companies, build brands and superior products that reach international markets. Kalbe is engaged into health and nutrition productscompany which is integrated with the power of innovation, marketing strategy, brand development, distribution, financial strength, research and development capabilities and production is difficult to surpass in realizing its mission to improve health for a better life. The company motto is The Scientific Pursuit of Health for a Better Life.Kalbe has a business focus on four divisions, named based on prescription of drugs, health products division, the division of nutrition as well as distribution and logistics division. Currently Kalbe supported more than 16,000 employees including 4,000 marketing and sales force spread across the whole of Indonesia, so Kalbe able to reach 70% of general practitioners, 90% of specialist doctors, 100% hospital, 100% pharmacies for the drug market and prescription as well as 80 % for health and nutritional products market.Companies are required to perform a variety of policies that can give benefit to the company in order to maintain the survival of the company and to generate more profit in the future. The company has many alternatives to conducting its business running smoothly and one of them by selling a product or services on credit.The sales of PT Kalbe Farma Tbk has been increased each year, from 2007-2014 with the presentation of the increase fluctuated, the highest sales happen from health division with contributed to 49.3% while prescription drug division contributed to 25.8% and the remaining 24.9% is generated distribution and packaging division. Supported by approximately 2,300 sales force, which is the largest marketing team in Indonesia, as well as extensive distribution network serve hospitals, pharmacies and drugstores throughout the country, with the payment system tempo after the goods are shipped to customers.The results of this study indicate that variables Accounts Receivable and Cash Flow Operating simultaneously significant effect on Net Profit at PT. Kalbe Farma Tbk. The result of R-square is 66.17%, this means that both variables Accounts Receivable and Operating Cash Flow has real contribution to increasing Net Income at PT. Kalbe Farma Tbk and the remaining 33.83% explained by other variables outside the research. The regression linear equation for this research is described as follows: Y = 9.211708 + 0.782601 (X1) +0.501910 (X2).