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Many churches face great challenges in carrying out the mission of the gospel effectively in the midst of their limited resources, one of which is the Evangelical Kalimantan Church (GKE), especially in the Calon Resort (Cares) of GKE Bulik Timur. This study uses a qualitative approach by examining the condition of objects naturally, where the researcher plays the role of a key instrument and the sampling technique is carried out by purposive sampling. The results of the study show that limited funds caused by the lack of spiritual health of congregation members are the main obstacle to service, especially in PKB mission activities and congregation formation. The low financial support of the congregation is influenced by the weak theological understanding of giving and the limited economic income of the congregation. To overcome this, the church implements various theological and responsible efforts and strategies, including through strengthening preaching, spiritual formation, and the development of productive investment in the form of oil palm plantations. This plantation business has proven to be able to be a sustainable solution in supporting church finances so that services can run more optimally.

Strengthening family-based microenterprises is one strategic approach to improving the economic resilience and independence of local communities. Family microenterprises not only serve as a source of income, but also as an important instrument in maintaining the social and economic stability of households. This study aims to describe the conditions of family-based microenterprises, identify obstacles to their development, and formulate strategies for optimizing family economics in Neighborhood I of Padangmatinggi Village, Padangsidimpuan City. This study uses a descriptive qualitative approach with data collection techniques through in-depth interviews, field observations, and documentation studies. Research informants include family micro-business actors, village officials, and other related parties. The results show that family-based micro-businesses have a real contribution to increasing household income and meeting basic family needs. However, business development still faces limitations in capital, low financial literacy, limited product innovation, and minimal marketing access. Therefore, an integrated development strategy is needed that includes increasing human resource capacity, facilitating access to financing, utilizing digital technology, and institutional support from the local government to realize the sustainability of family micro-businesses.

The financial crisis experienced by PT Garuda Indonesia Tbk prompted the company to enter into a Debt Payment Suspension (PKPU) process as a legal measure to avoid bankruptcy and restructure its finances. The complexity of debt, liquidity pressures, and post-pandemic operational challenges have made PKPU a strategic instrument for obtaining debt payment deferrals and formulating a settlement plan that is acceptable to creditors. This study aims to analyze how the implementation of PKPU affects Garuda's rescue efforts from the threat of bankruptcy and assess the extent to which the debt restructuring resulting from PKPU in 2021–2023 effectively improves the company's financial condition. The method used is normative legal research with a legislative, conceptual, and case study approach to the homologation decision and Garuda Indonesia's official financial reports. The results of the study show that PKPU provides legal certainty for debtors and creditors through a collective postponement mechanism, and debt restructuring has been proven to significantly reduce the company's liabilities from around US$10.1 billion to around US$4.6 billion, while improving financial and operational stability in the short to medium term. In conclusion, PKPU serves as an effective corporate rescue instrument, while post-PKPU debt restructuring provides a strong foundation for Garuda Indonesia's financial recovery, although long-term sustainability still depends on the consistent implementation of the peace plan and the company's operational performance.

This study examines the effect of financial ratios on dividend policy with sales growth as a moderating variable in technology sector companies listed on the Indonesia Stock Exchange during the period 2019–2023. Dividend policy is an important corporate decision because it reflects management considerations in balancing company growth and shareholder returns. The independent variables used in this research are profitability, liquidity, and leverage, while dividend policy is the dependent variable and sales growth acts as a moderating variable. Profitability is measured using Return on Assets (ROA), liquidity is proxied by the Current Ratio (CR), leverage is measured using the Debt to Equity Ratio (DER), and dividend policy is measured by the Dividend Payout Ratio (DPR). This study employs a quantitative approach using secondary data obtained from the annual financial statements of technology sector companies listed on the Indonesia Stock Exchange. The data are analyzed using multiple linear regression and moderated regression analysis.The results show that profitability does not have a significant effect on dividend policy, indicating that net profit generated during the year is not the main consideration in dividend distribution decisions within technology companies. Liquidity has a significant effect on dividend policy, suggesting that companies with stronger short-term financial conditions tend to have a greater ability to distribute dividends. Leverage also significantly affects dividend policy, implying that the level of corporate debt influences management decisions regarding dividend payments. Furthermore, sales growth does not moderate the relationship between profitability and dividend policy. However, sales growth is proven to moderate the effect of liquidity and leverage on dividend policy. These findings provide insights for management and investors in understanding dividend policy determinants in technology sector companies in Indonesia.

The rapid growth of digital financial technology has introduced new economic instruments that require re-evaluation through the lens of Islamic economic law, one of which is Bitcoin. This study aims to analyze the legal standing of Bitcoin as a means of transaction and investment using a normative legal approach. Data were obtained through extensive literature review involving primary and secondary sources, including Islamic jurisprudence, maqāṣid al-sharī‘ah, qawā‘id fiqhiyyah, official fatwas, and contemporary technological and economic studies. The analysis employed normative and reconstructive methods to assess the compatibility of Bitcoin’s characteristics with the principles of Islamic law. The findings indicate that Bitcoin may be classified as a form of digital māl because it possesses utility, can be lawfully owned, and is tradable within open market mechanisms. However, its extreme price volatility, limited public acceptance, and absence of state-backed legitimacy make it unsuitable as a lawful medium of exchange in Islamic transactions. Conversely, Bitcoin may be permitted as an investment instrument under strict conditions, provided the activity avoids speculative motives, ensures transparency, and follows prudent financial conduct. Based on these assessments, this study concludes that Bitcoin is more appropriately categorized as a digital commodity rather than a transactional currency. This research contributes conceptually to the development of sharia-compliant crypto-asset regulations and opens avenues for further exploration on designing more stable and ethically aligned digital financial instruments.

Financial management, both in public and private organizations, is highly vulnerable to fraud and misappropriation of funds. The risk of fraud in financial reporting not only jeopardizes an organization's long-term financial health but also damages the reputation and trust of stakeholders. Professional ethics and integrity are key factors in ensuring good, efficient, and effective financial governance. Weak internalization of professional ethical values ​​among financial practitioners, such as manipulation of financial reports and unauthorized use of official funds, is often a major cause of misappropriation of funds. These cases can significantly harm an organization, as seen in violations of codes of ethics in various large companies. Therefore, strengthening professional ethics in financial management practices is crucial to prevent misappropriation of funds, fraud, or financial manipulation. A strong internal control system, coupled with a good ethical culture, can play a significant role in preventing and detecting these conditions. This study aims to identify factors that support and hinder the implementation of professional ethics in financial management and provide recommendations for improving integrity and accountability in fund management. It is hoped that the results of this study will help organizations strengthen governance, increase transparency, and reduce the risk of fraud through better implementation of professional ethics.

Background: The rapid development of financial technology and the increasing volume of cross-border transactions have led to the emergence of increasingly complex digital financial crimes, involving anonymous actors and exploiting regulatory gaps and jurisdictional differences. This condition poses serious challenges to legal systems, particularly in terms of digital evidence, the attribution of legal liability, and the effectiveness of cross-border law enforcement. Objective: This study aims to reconstruct the framework of civil and criminal liability in digital fraud cases to make it more adaptive, integrated, and responsive to technological developments. Method: The research employs a qualitative socio-legal approach, combining normative analysis of cybercrime regulations, case studies of international digital fraud, comparative analysis of legal systems across countries, and interviews with legal practitioners and fintech regulators. Results: The findings reveal significant legal gaps, regulatory fragmentation across jurisdictions, and weaknesses in electronic evidence systems that hinder effective law enforcement. Additionally, the complexity of actors and technologies within digital ecosystems complicates the accurate attribution of legal responsibility. Therefore, an integrated legal framework is required, incorporating both civil and criminal liability, international regulatory harmonization, and the utilization of technology to enhance law enforcement effectiveness.

This study aims to provide a comprehensive overview of the implementation of green finance and its relationship with the financial performance and profitability of banking institutions in Indonesia. Although sustainable finance policies have been continuously strengthened by regulators and stakeholders, the contribution of green financing to overall banking performance is still developing gradually, making it important to conduct a more focused and systematic analysis of its effectiveness. This research specifically aims to describe the application of green financing practices, assess financial performance conditions, and analyze bank profitability during the 2020–2024 period. The study employs a descriptive quantitative approach using secondary data on green financing distribution, financial performance indicators such as the Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), and Loan to Deposit Ratio (LDR), as well as profitability measured through Return on Assets (ROA). The findings indicate that the implementation of green finance has the potential to enhance long-term financial stability and improve profitability in the banking sector. This study implies that expanding green financing can serve as a relevant and sustainable business strategy for the banking industry while simultaneously supporting national sustainability and environmental development objectives.

The increasing intensity of business competition requires companies to maintain strong financial conditions to avoid financial distress that may disrupt business continuity. This study aims to assess the financial stability and predict the potential bankruptcy of PT Sido Muncul Tbk for the 2022–2024 period using the Altman Z-Score model. A descriptive quantitative approach was applied, utilizing secondary data obtained from annual reports published by the Indonesia Stock Exchange and the company’s official website. Five key ratios in the Altman model were used as indicators to evaluate the company’s financial position and resilience. The results show Z-Score values of 4.74 in 2022, decreasing slightly to 4.66 in 2023, and rising again to 4.79 in 2024. These scores are significantly above the safe threshold of 2.675, indicating that the company is in a healthy financial state with a very low risk of bankruptcy. Overall, PT Sido Muncul Tbk demonstrates stable financial performance, supported by a strong capital structure and consistent operational results. The Altman Z-Score model also proves to be an effective early-warning tool for identifying potential financial problems.

As a maritime nation with vast sea territories, Indonesia faces significant challenges in safeguarding its waters, particularly in strategic regions such as the Natuna Sea. This area is vulnerable to various threats, including territorial violations, marine resource theft, and illegal underwater activities. This study aims to formulate a concept for the utilization of Autonomous Underwater Vehicles (AUVs) as an alternative solution to enhance underwater security systems in the region. The method employed is Research and Development (R&D), adopting model development steps and complemented by a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis to assess the feasibility and effectiveness of AUVs in the context of Indonesian maritime defense. The research findings indicate that the main strength of AUVs lies in their technological capability to effectively detect underwater threats. Although they have weaknesses, such as high operational costs, dependency on imported components, and limitations in battery endurance and sonar capabilities, these factors do not significantly hinder AUV effectiveness. Major opportunities arise from global technological advancements, yet challenges remain due to insufficient government policy support. The threats faced include the risk of sabotage and extreme weather conditions. Therefore, the recommended strategies are to maximize the use of technology, strengthen supporting regulations, and address logistical and financial barriers to realize effective and sustainable AUV operations in the Natuna Sea.

Micro, Small, and Medium Enterprises (MSMEs) play a strategic role as the backbone of Indonesia’s economy through their significant contribution to employment creation and Gross Domestic Product (GDP). However, many MSMEs continue to face structural challenges, including limited managerial capacity, low levels of innovation, and weak adaptation to digital transformation. In response to these challenges, entrepreneurship education has emerged as a strategic instrument for strengthening MSME competitiveness and sustainability. This study aims to analyze the role of entrepreneurship education as a development strategy for MSMEs in supporting Indonesia’s economic growth. Employing a descriptive qualitative approach with a case study design, this research examines several MSMEs that have participated in entrepreneurship education and training programs organized by government and educational institutions. The findings reveal that entrepreneurship education contributes to strengthening entrepreneurial mindset, improving managerial and financial skills, encouraging business innovation, and enhancing digital technology adoption among MSME actors. Moreover, entrepreneurship education supports business resilience and market expansion, enabling MSMEs to adapt to dynamic economic conditions. These findings indicate that entrepreneurship education is not merely a capacity-building tool, but a strategic policy instrument for developing competitive and sustainable MSMEs. Therefore, the institutionalization of integrated and continuous entrepreneurship education is essential to optimize the role of MSMEs in fostering inclusive and sustainable economic growth in Indonesia.

Financial statement integrity refers to financial statements that accurately reflect the true condition of a company, without anything being concealed or hidden. The importance of financial statement integrity has become an increasingly pressing requirement that companies must fulfill in order to avoid misleading financial statement users, which could result in erroneous decision-making. This study aims to analyze the influence of managerial ownership, institutional ownership, company size, financial distress, and leverage on financial statement integrity in banking sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2021-2023. The research population consists of banking sector companies listed on the IDX during the 2021-2023 period. This study involves 20 companies selected as samples using purposive sampling. The analysis technique used to test the hypotheses is multiple linear regression analysis. The results of this study indicate that managerial ownership, institutional ownership, company size, and leverage do not affect financial statement integrity, while financial distress has a negative effect on financial statement integrity. This study is expected to provide general input to managers or strategists at companies listed on the Indonesia Stock Exchange to always align all interests involved in company management.

This study was conducted to analyze the implementation of financial management and accounting practices at a Coffee Shop in South Jakarta operating within the MSME sector, with a focus on the importance of structured financial management and the application of standardized accounting as a fundamental element in supporting business sustainability. The research employed a qualitative descriptive method through interviews, direct observations, and document review. The findings indicate that the Coffee Shop has applied a cash-based recording system and utilizes a simple point of sales (POS) application to monitor cash flow and sales transactions. However, the recording of fixed assets, depreciation calculations, and the recognition of liabilities have not fully complied with the guidelines of FAS MSMEs, resulting in financial information that remains limited, lacks transparency, and does not provide a comprehensive overview of the business’s financial condition. Therefore, this study highlights the need to improve human resource capabilities in accounting and to implement simple yet credible accounting software to support more accurate, efficient, and accountable financial reporting. With more professional financial management, business owners will be better equipped to make strategic decisions, strengthen stakeholder trust, and enhance the competitiveness and long-term sustainability of the Coffee Shop.

Internal control is a crucial aspect for SMEs in maintaining the reliability of revenue recording and preventing the risk of misappropriation. This study aims to analyze the implementation of internal control in the revenue cycle at Exmo Tea Café and to evaluate its effectiveness through internal audit. The research uses a qualitative descriptive approach with data collection through interviews with management personnel directly involved in transactions and financial recording. The analysis is conducted using the COSO framework, which includes five main components: control environment, risk assessment, control activities, information and communication, and monitoring. The research results indicate that Exmo Tea Café has implemented several basic elements of internal control, such as recording transactions through a cashier application, daily cash reconciliation, and reporting to the owner. However, the effectiveness of these controls is still limited because the segregation of duties between receiving and recording is not optimal, risk assessment is reactive, documentation and report archiving are not systematic, and monitoring is conducted informally. In addition, there are no formal policies regarding operational standards (SOPs) or internal audit procedures that could serve as guidelines for continuous control implementation. These conditions have the potential to lead to risks of fraud, recording errors, and delays in financial reporting. Therefore, these findings underscore the need for a comprehensive enhancement of the internal control system, including strengthening the separation of duties, conducting preventive risk assessments, providing employee training related to financial governance, as well as implementing more formal monitoring and documentation. These improvements are expected to increase reporting accuracy, operational effectiveness, and minimize the potential for errors or fraud in the company's financial activities.  

In the investment world, stock returns are the leading indicator of a company’s performance and the basis for investor decision-making in the capital market. Fluctuations in stock returns reflect market expectations of the company’s prospects. The retail sector in Indonesia is facing significant pressure from post-pandemic shifts in consumer behavior and increased competition. This study aims to analyze the effect of financial distress, company size, liquidity, operating cash flow, and accounting profit on stock returns in retail sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2021 to 2023. This type of research is causally associated with a quantitative approach. The data used is secondary, in the form of financial statements from retail companies. The sampling technique used was purposive, yielding a total of 39 data points from 13 retail companies. Data testing was carried out using SPSS version 24. The results showed that partially, the variables of financial distress, company size, liquidity, and accounting profit had no significant effect on stock returns. Meanwhile, operating cash flow positively impacts stock returns. These findings indicate that fundamental indicators are not always the main determinants of stock returns. Therefore, investors are advised also to consider external factors such as market sentiment, macroeconomic conditions, and government policies that may have a greater influence on stock performance in the capital market.

This study aims to evaluate the effects of profitability, leverage, liquidity, and cash-flow shocks on the financial distress of companies in the hotel, restaurant, and tourism subsector listed on the Indonesia Stock Exchange during the period 2021 to 2024. The research approach employed is quantitative, using logistic regression analysis. The data analyzed are secondary data obtained from the annual financial statements of the respective companies. The results of the study indicate that, simultaneously, the four independent variables significantly influence financial distress. However, based on partial testing, each variable, namely Return on Assets (ROA), Debt to Equity Ratio (DER), Current Ratio (CR), and cash flow shock, does not show a significant relationship with financial distress. These findings imply that the risk of financial distress in this industry cannot be explained solely through a single financial indicator; instead, a more holistic approach is required. This study provides essential contributions to both management and investors in assessing companies' financial condition and formulating appropriate strategic decisions.

Village entrepreneurship is an initiative designed to stimulate regional economic growth by accelerating the development of rural areas, which have long been perceived as slow, less productive, and lagging behind urban centers. The creation of entrepreneurial villages offers a concrete strategy to enhance community productivity because it encourages all components of the village government, residents, and local institutions to participate in structured and collaborative entrepreneurial activities. Such villages are expected to generate new economic opportunities, strengthen local industries, and increase community independence. However, initial observations from this Community Service program show that partner villages still face significant barriers, including limited land area, geographical remoteness, and inadequate human and natural resources. Many peripheral villages have not yet utilized digital technology effectively, making it difficult to expand markets or access broader economic networks. In addition, challenges related to financial access, limited talent development, socio-cultural constraints, and weak market infrastructure continue to hinder economic progress. These conditions demonstrate the urgent need for strategic assistance, capacity-building programs, and stronger support systems to help villages transform into sustainable entrepreneurial ecosystems capable of contributing to long-term regional development.

This study aims to identify and describe the factors contributing to the decline in the distribution of Kredit Cepat Aman (KCA) at PT Pegadaian (Persero), Pasar Pagi Service Unit, during the period of January 2022 to December 2024. This research employs a descriptive qualitative method with a case study approach, involving purposively selected informants consisting of the unit manager, appraisers, and customers. Data were collected through in-depth interviews, participatory observations, and documentation analysis (KCA realization data from 2022 to 2024). The data were analyzed using thematic analysis through the stages of data reduction, data display, and conclusion verification/triangulation. The results indicate that the decline in KCA distribution is influenced by internal factors including interest rate (service fee) policies, collateral appraisal standards, credit provision procedures, non-performing loan ratios, service quality, and marketing activities as well as external factors such as competition among financial institutions, fluctuations in collateral prices, product availability, and local economic conditions affecting community purchasing power. These findings suggest the need for improvements in collateral appraisal procedures, enhancements in service quality and localized marketing strategies, and adjustments to interest rate policies that are responsive to local economic dynamics in order to restore and increase KCA distribution performance.

One of the factors that causes a company to grow is because of the maximum income or profit obtained. When raw material prices rise or there is an increase in labor and overhead costs , the company must incur higher costs to produce products. If this condition s not balanced with selling price adjustments, the profit margin will narrow and net profit will decrease. Net profit is a key indicator that reflects ai company's financial performance. Profit is a basic and important position of the financial overview that has various uses in various contexts, the definition of profit itself is the difference between expenses and income. The effect of production and sales costs on net profit at PT Unilever Indonesia Tbk during the period 2015 to 2022 reflects the complex phenomena faced by the company in carrying out its operations. During this period, PT Unilever faced various challenges organiting from market conditions, changes in rai material prices, and fluctuating consumer demand. The results of this study indicate that: (1) Production costs partially do not have ai significant effect on net profit, this is evidenced by ai significance value of 0.363 > 0.05. (2) Sales partally have ai significant effect on net profit, this is proven by ai significance value of 0.035 < 0.05. (3) Production and sales costs simultaneously haive ai significant effect on net profit, this is proven by ai significance value of 0.000 < 0.05. (4) The influence of the independent variables of production and sales costs on the dependent variable of net profit is 89.3%, while the remaining 10.7% is influenced by other factors outside this reseairch model.

This study aims to analyze the financial distress condition of PT Indofarma Tbk during the period of 2022-2024 using the Modified Altman Z-Score Model. The research employs a quantitative approach and utilizes secondary data obtained from the company's annual financial reports published by the Indonesia Stock Exchange. Four key ratios in the Modified Altman Z-Score Model are used to assess the level of financial distress risk, namely: working capital to total assets (X1), retained earnings to total assets (X2), earnings before interest and taxes to total assets (X3), and book value of equity to total debt (X4). The results show that PT Indofarma Tbk's Z-Score value has been well below the threshold of 1.1 for three consecutive years, at -4.97 in 2022, -21.40 in 2023, and -27.19 in 2024. These values indicate that the company is in a serious financial distress condition, with a high risk of bankruptcy. Contributing factors include negative working capital, continuous operational losses, increasing debt levels, and a decline in the company's equity.