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This study aims to analyze the implementation of mudarabah and murabahah contracts at the Baitut Tamwil Muhammadiyah (BTM) Al-Kautsar Islamic Cooperative in Makassar and to assess their compliance with Islamic principles and the Islamic Financial Accounting Standards (PSAK Syariah). The research employed a qualitative descriptive approach using in-depth interviews, observation, and documentation. The findings reveal that BTM Al-Kautsar has implemented mudarabah and murabahah contracts in accordance with Islamic principles, as evidenced by valid contract agreements, agreed profit-sharing ratios, and manual transaction recording. The mudarabah contract is applied for profit-sharing financing, while murabahah is more dominant due to its lower risk and stable returns. However, the application of PSAK Syariah remains suboptimal due to limited human resources, the absence of a Sharia supervisory board, and minimal digital accounting systems. These findings suggest the need to enhance Sharia literacy, strengthen internal supervision, and modernize accounting systems to support accountable and sustainable Islamic cooperative governance

The implementation of regional autonomy and fiscal decentralization aims to enhance local governments' financial independence. However, fiscal imbalances between the central and regional governments led to the enactment of Law Number 1 of 2022 (UU HKPD), designed to strengthen regional fiscal capacity. This law introduces a piggyback tax system through a surcharge on the Motor Vehicle Tax. This study analyzes the dynamics of the piggyback tax system in Semarang City, focusing on the implications for taxpayer resistance and regional financial capacity. Using a descriptive qualitative approach, the study reviewed secondary data from regulatory documents, financial reports, and academic literature. The findings show that the shift towards centralistic fiscal policies and the increase in tax burdens have sparked significant taxpayer resistance. This resistance occurs both passively, due to poor regulatory literacy, and actively, through delays in tax payments. The resistance damages the psychological contract between the state and citizens, undermining local financial stability. It risks reducing local revenue, increasing tax collection costs, and limiting fiscal space for infrastructure development. The study suggests that Semarang’s government needs to adopt an adaptive governance framework with transparent tax allocation, digitalization of services, and persuasive policies to restore public trust and encourage compliance.

Transparency in human resource management has become a strategic issue in modern organizations, particularly through the implementation of salary transparency as part of the broader concept of radical transparency. This study aims to analyze the psychological and managerial impacts of salary information disclosure and its implications for human resource leadership within organizations. The research employs a qualitative approach using a narrative literature review by examining relevant scholarly articles published within the last five years. The findings indicate that salary transparency contributes positively to enhancing employees’ perceptions of fairness and trust; however, it may also generate negative consequences such as social comparison, interpersonal conflict, and decreased job satisfaction if not properly managed. From a managerial perspective, salary transparency promotes greater accountability, strengthens performance evaluation systems, and encourages more open and participative leadership practices. This study contributes by integrating psychological and managerial dimensions into a comprehensive conceptual framework and highlights the importance of organizational readiness in strategically managing transparency policies to achieve effectiveness and sustainability.

This study aims to describe the level of service optimization in Financial Institution Pension Funds (DPLK) through the management of periodic pension benefit payments, additional benefits, and voluntary contributions using a descriptive-analytical approach. The data were derived from reports of 24 DPLK administrators collected in April 2026. The findings indicate that service optimization is largely determined by the effectiveness of managing periodic pension payments, other pension benefits, and contributions beyond the core program. This issue becomes crucial when viewed from DPLK performance trends over the past five years (2021–2025), where collected funds—comprising contributions and investment returns—were consistently lower than pension benefit payments, with an average ratio of 63%. This imbalance highlights sustainability concerns. The study identifies significant untapped potential, including Rp5.79 trillion annually (36% of total pension benefits) in periodic payments not yet optimized, Rp2.4 trillion for other benefit programs over 10 years, Rp1 trillion for religious-related funds, and Rp1.2 trillion in voluntary contributions from existing participants. To address these gaps, DPLK institutions need to strengthen regular and personalized communication beyond transactional interactions, ensuring participants are more engaged. Integrated services that emphasize transparent benefits, ease of contribution, continuous financial education, and digital accessibility are essential. Ultimately, optimizing DPLK services requires not only system and product improvements but also attention to participant behavior and service quality to enhance retirement well-being.

This study aims to analyze the effect of e-government implementation, Transparency and Maturity of Internal Control System (SPI) on the Quality of Buleleng Regency Government Financial Reports. The research method uses a quantitative approach with a survey method through the distribution of questionnaires to 74 respondents consisting of heads of financial sub-sections and financial report preparation staff at 37 Regional Work Units (SKPD) in Buleleng Regency. The sampling technique uses purposive sampling. Data are analyzed using multiple regression with the help of SPSS 26. The results of the study indicate that the e-government variable does not have a significant effect on the quality of Buleleng Regency government financial reports. Meanwhile, the Transparency and Maturity of Internal Control System (SPI) variables have a positive and significant effect on the quality of Buleleng Regency government financial reports. This finding indicates that the higher the level of implementation of transparency and maturity of the internal control system (SPI), the better the quality of local government financial reports. However, the implementation of e-government has not yet made a significant contribution, possibly due to the suboptimal implementation of the reporting system, which focuses solely on service and administration, and the limited use of technology by human resources. Therefore, the Buleleng Regency government is expected to improve the effectiveness of its e-government implementation and continue to strengthen the transparency and maturity of its internal control system (SPI) to improve the quality of its financial reports. Keywords: E-Government, Transparency, Internal Control System Maturity, financial report quality

The transformation of revolving funds from the former PNPM Mandiri program into BUM Desa Bersama entities requires accountable financial management aligned with applicable accounting standards. However, inconsistencies between regulations and accounting practices remain. This study analyzes the recognition and measurement of revolving fund assets at BUM Desa Bersama Ajimas Lestari LKD in Ajibarang and assesses their compliance with Ministerial Regulation of Village PDTT No. 136 of 2022 and SAK ETAP. Using a qualitative case study approach, data are collected through interviews, observation, and documentation involving five internal informants. The results show that asset recognition follows regulations, where revolving funds are recorded as receivables upon loan distribution to Women’s Savings and Loan (SPP) groups at nominal value. However, discrepancies persist in asset measurement and presentation, particularly in receivable classification and the placement of allowance for doubtful accounts under equity. These issues stem from limited human resource capacity, lack of a standardized accounting information system, and weak supervision. Strengthening accounting competence and implementing standardized financial reporting systems are essential to improve accountability and transparency in managing community revolving funds.

The purpose of this writing is to analyze Article 14 of Law Number 31 of 1999 jo. Law Number 20 of 2001 concerning the Eradication of Corruption has a delegative character, because its enactment depends on the provisions of other laws that expressly declare a violation as a criminal act of corruption. The construction of these norms in practice gives rise to ambivalence in law enforcement, especially when various acts that are detrimental to state finances occur in strategic sectors that are not explicitly qualified as corruption crimes in sectoral laws. This condition has the potential to create a legal vacuum and hinder the effectiveness of eradicating corruption as an extraordinary crime. This study aims to analyze the practice of implementing Article 14 of the Law on the Eradication of Corruption and examine these provisions from the perspective of legal certainty, justice, and criminal law policy. The research method used is normative legal research with a legislative approach and a case approach. Research data was obtained through literature studies on primary, secondary, and tertiary legal materials that were analyzed qualitatively. The results of the study show that the delegative and limiting nature of Article 14 has implications for the low predictability of the law and opens up ambivalence between norms and law enforcement practices. In reality, law enforcement officials often apply the Corruption Crime Law to acts that are normatively outside the scope of Article 14, taking into account the existence of state financial losses and the interests of substantive justice. Therefore, Article 14 needs to be interpreted systemically and progressively and supported by the reformulation of norms and harmonization of laws and regulations to be in line with the dynamics and complexity of modern corruption crimes.

The rapid growth of beverage franchises in Indonesia, particularly MIXUE with over 4,000 outlets, necessitates an in-depth examination of the financial management strategies underlying its success. This study aims to analyze the effects of working capital management, supply chain support, and operational cost efficiency on financial performance, as well as to evaluate the investment feasibility of the MIXUE franchise in Indonesia. A mixed-methods sequential explanatory approach was employed, utilizing multiple regression analysis and capital budgeting methods including Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), and Return on Investment (ROI). Data were collected from 50 franchise outlets across Jakarta, Bandung, Surabaya, and Semarang during 2022-2024, supplemented by in-depth interviews with 15 franchisees and 3 regional managers. Results reveal that all three independent variables significantly and positively affect financial performance: working capital management (β = 0.412; p = 0.002), supply chain support (β = 0.358; p = 0.008), and operational cost efficiency (β = 0.486; p < 0.001) with R² = 0.684. Investment feasibility analysis indicates an average positive NPV of IDR 290.1 million, IRR 36.5%, PP 22.2 months, and ROI 56.5%. This study contributes novel insights by integrating financial and supply chain analysis within the context of beverage franchising in emerging Asian markets, providing a comprehensive evaluation framework for prospective investors and franchise system developers.

The rapid development of information technology requires adaptation across various business sectors, including small and medium enterprises (SMEs). BUMDes Poto Bo’o, located in Wolotopo Village, Ndona Timur District, still manages sales data manually using ledger books. This practice leads to several issues, such as data inaccuracies, lack of automatic inventory updates, and delays in report generation.This study aims to design and implement a basic necessities (sembako) sales information system for the BUMDes. The system development method used is the waterfall model, which consists of requirement analysis, system design, implementation, testing, and maintenance stages. The system is developed using PHP programming language and MySQL database.The main features of the system include product management, customer management, transaction processing, tracking of incoming and outgoing goods, and real-time sales reporting. The results show that the developed information system improves transaction recording accuracy, enhances inventory data accuracy, and accelerates the sales reporting process.Therefore, the system is expected to improve the operational efficiency of BUMDes Poto Bo’o, support financial management transparency, and increase public trust in the performance of the village-owned enterprise.

This study aims to critically analyze the determination of the Tax Base (Dasar Pengenaan Pajak/DPP) in the withholding tax mechanism under Article 23 of the Indonesian Income Tax Law for freight forwarding services at PT MPX Indonesia. The research focuses on evaluating the implementation of the “All-In” billing model, where all operational costs are consolidated into a single gross invoice amount and treated as the taxable base. This approach raises concerns regarding its compliance with applicable tax regulations, particularly in distinguishing between service fees and reimbursable expenses. The study employs a qualitative descriptive method using a case study approach. Data are collected through documentation analysis of transaction records, including invoices and Unified Income Tax withholding receipts. The findings are expected to provide insights into the appropriateness of the applied tax base determination method and its implications for tax compliance and efficiency within the company’s operational practices and financial reporting system.

Regional financial accountability is a fundamental principle in good governance. However, the management of regional finances still faces various challenges, particularly related to the potential occurrence of fraud and the suboptimal functioning of internal control systems. This study aims to analyze the role of the Government Internal Supervisory Apparatus (APIP) in strengthening regional financial accountability through the implementation of internal oversight based on Fraud Risk Control. This research employs a qualitative approach using the Qualitative Secondary Analysis (QSA) method, which utilizes secondary data from various scientific literature, previous research findings, and policy documents relevant to internal oversight in the public sector. The results indicate that internal oversight is a crucial mechanism in preventing fraud in public sector financial management. The implementation of Fraud Risk Control plays a role in identifying, assessing, and controlling fraud risks, thereby enhancing the transparency and accountability of regional financial management. Furthermore, APIP has a strategic role through internal audit functions, risk-based oversight, and providing consultation to improve regional financial management systems. Strengthening APIP’s capabilities, enhancing the maturity of the Government Internal Control System (SPIP), and ensuring the independence of internal supervisors are essential factors in realizing transparent and accountable regional financial governance.

As a priority program that utilizes a large portion of the state budget in its implementation, the Free Nutritious Meals (MBG) program that requires transparent and accountable financial management. This study examines transparency and state financial oversight in the implementation of the Free Nutritious Meals Program. It employs a qualitative approach based on a literature review of various policy sources, government reports, and relevant news coverage. The results of the analysis indicate that the government has made efforts to strengthen governance through the development of digital reporting mechanisms and by enhancing the capacity of program implementers via e-learning systems and financial reporting applications for a partners of the Nutrition Service Units (SPPG). Strengthening and greater transparency of information regarding the allocation and implementation of the program’s budget are needed to ensure public access, thereby realizing transparent and accountable public financial management in the implementation of the Free Nutritious Meals Program.

The retention of customers in the retail banking sector is a critical economic imperative; however, predictive modeling is frequently hindered by severe class imbalance and the “Black Box” nature of complex algorithms. This study proposes a Heterogeneous Stacking Ensemble framework integrating XGBoost, CatBoost, and Random Forest base learners with a Logistic Regression meta-learner to forecast customer attrition. To overcome the pervasive “Majority Class Bias,” we introduce a “Dual-Imbalance Defense” that synergizes the Synthetic Minority Over-sampling Technique (SMOTE) with algorithmic cost-sensitive penalization. Furthermore, moving beyond standard accuracy metrics, the framework mathematically derives a dynamic classification threshold to guarantee a strict 0.90 recall rate, actively optimizing the capture of at-risk capital. Model opacity is addressed through the integration of a SHapley Additive exPlanations (SHAP) TreeExplainer. This cooperative game theory approach provides localized, patient-level “Reason Codes” for regulatory compliance and reveals global systemic vulnerabilities, including non-linear drivers such as the “Product Paradox.” Achieving a 0.90 recall rate and an AUC of 0.8654, this framework provides a statistically robust and operationally transparent tool for targeted customer retention.

The economy of a country, including Indonesia, is a system that encompasses all production, distribution, and consumption activities occurring within the country. In the economy, problems often arise that can affect the welfare of society. The problem formulation in this study is: How is the regulation and supervision of both internal and external banks carried out to prevent customer personal data leakage in credit agreements? And how is the responsibility of BPR Karya Sari Sedana towards the leakage of customer debtor data? The research method used is empirical legal research. The conclusion in the study is the protection of customer data against personal data leakage by understanding the forms of supervision from both internal and external parties conducted by the banking institution and referring to the OJK regulations that have been established, in order to minimize the recurrence of similar incidents and allow the public to conduct transactions safely without worrying about their personal data. Leaked by irresponsible individuals. The responsibility carried out by the banking sector currently, namely the Financial Services Authority Regulation Number 22 of 2023 concerning Consumer and Community Protection in the Financial Services Sector, also regulates consumer protection in the financial services industry. Forms in policies related to regulations in the banking world ensure that the public does not worry about their personal data.

Along with the rapid growth of digital media, various forms of digital transactions have also developed.1 This development has driven changes in the payment system in Indonesia, one of which is through the implementation of QRIS (Quick Response Code Indonesian Standard). Despite its increasingly widespread use, there are still few studies that systematically examine user perceptions and the effectiveness of QRIS in improving transaction efficiency and strengthening the digital financial system. The purpose of this study is to identify and comprehensively analyze the results of previous studies related to QRIS use through a Systematic Literature Review (SLR) approach. Data were collected from Google Scholar and Garuda using the keywords "QRIS use", "QRIS payment system", and "QRIS transaction tool". The results show that QRIS can improve the efficiency and convenience of digital transactions, both for consumers and businesses, and facilitate the integration of financial services in a single platform. This study also aims to analyze the use of QRIS in public services. Using a descriptive qualitative research method, research data was taken from the results of searches of reliable sources including official websites, academic literature, theses, and national scientific journals relevant to the research topic. Thus, this may indicate that the success of QRIS is influenced by effective socialization, public awareness of transaction security, and equitable access to technology. The implications of this research provide a useful literature map for policy development and further studies in the field of digital finance.

Kalingara Village still faces various obstacles in financial administration. Problems in general occur such as manual financial records, a long-time report making process, and data storage that is less organized and prone to loss or damage. This condition makes it difficult for village officials, especially the treasurer and village secretary, to search for data, prepare reports, and make decisions based on valid and up-to-date financial data. This research uses software engineering research methods with descriptive and qualitative approaches. This research is focused on the process of designing and developing a web-based information system for village financial administration, which aims to solve real problems in Kalingara village. The design of the Village financial administration information system in presenting information can be used as a reference in the development of the system by the next researcher and facilitate the creation of an information system for the processing of financial administration data in the village.

Attention mechanisms have been widely incorporated into recurrent neural network architectures for financial time series forecasting, with most prior work reporting improvements in price-level error metrics. This study revisits that claim through a controlled empirical comparison of four deep learning architectures on nearly two decades of Telkom Indonesia (TLKM) closing price data from the Indonesia Stock Exchange (IDX). The models evaluated are a three-layer Gated Recurrent Unit (GRU) baseline, a comparable Long Short-Term Memory (LSTM) network, a Bahdanau end-attention GRU (Attn-GRU-V2), and a multi-head self-attention GRU hybrid (Attn-GRU-V3). Each architecture is trained over 30 independent runs with distinct random seeds, and performance is reported as 95% confidence intervals derived from the t-distribution. Statistical comparisons employ the Wilcoxon signed-rank test, a nonparametric paired test appropriate given the confirmed non-normality of residuals. The main finding is a consistent trade-off: the plain GRU achieves the lowest RMSE (94.02 ± 1.22 IDR) across all 30 runs, while Attn-GRU-V2 achieves the highest directional accuracy (45.91 ± 0.09%), surpassing GRU in every independent run. Bahdanau attention weights are nearly uniform across the 30-day lookback window (coefficient of variation: 3.21%), indicating that the mechanism cannot identify selectively informative timesteps in this univariate price series. This finding is consistent with the weak-form Efficient Market Hypothesis for the Indonesian market. An ablation study reveals that a 20-day lookback window maximizes directional accuracy (47.72 ± 0.21%) for the Attn-GRU-V2 model. These results suggest that Bahdanau end-attention consistently and significantly improves directional accuracy relative to a plain GRU baseline, providing an architecturally attributable advantage for direction-based applications, even when absolute price-level error is not reduced. The directional accuracy values remaining below 50% across all models are consistent with a weak-form efficiency characterization of the Indonesian market.

This study aims to analyze the application of good governance principles in the management of ECE grants by regional governments, focusing on aspects of transparency, accountability, public participation, and legal certainty. The study employs a qualitative approach using Qualitative Secondary Analysis (QSA), analyzing various secondary data sources such as policy documents, government reports, previous research findings, and relevant academic literature on education grant management. Data analysis was conducted systematically through data reduction, categorization, interpretation, and conclusion drawing. The results indicate that the implementation of transparency in ECE grant management is reflected in the openness of information regarding grant application procedures, recipient selection mechanisms, and fund usage reporting. Accountability is realized through administrative and financial accountability mechanisms that must be fulfilled by both regional governments and ECE institutions receiving the grants. Public participation is evident from the involvement of communities, ECE institution managers, and parents in the planning, implementation, and supervision of the grant program. Meanwhile, legal certainty in grant management is demonstrated by the existence of regulations that clearly govern grant provision mechanisms, fund disbursement procedures, and obligations for reporting and accountability in fund utilization. The study concludes that the application of good governance principles in the management of ECE grants by regional governments plays a crucial role in enhancing transparency, accountability, and effectiveness in educational fund management. Furthermore, community involvement and regulatory certainty serve as key supporting factors in achieving better governance of education grants.

Liquidity management is an important aspect in maintaining the operational stability of Islamic banking. Inadequate liquidity management can affect a bank’s ability to fulfill its short-term obligations and reduce public trust in banking institutions. This study aims to examine the basic concepts of liquidity management, liquidity management practices, and the various challenges faced by Islamic banks in maintaining financial stability. The study employed a qualitative method using a literature review approach through the examination of various sources, including books, scientific journals, and research articles relevant to the topic. The collected data were analyzed descriptively to obtain a systematic understanding of liquidity management in Islamic banking. The findings indicate that liquidity management in Islamic banks is carried out through asset and liability management, fund collection, financing distribution, and the implementation of GAP management. In addition, Islamic banking faces several challenges, including the limited availability of Islamic money market instruments, imbalance between assets and liabilities, risks of massive customer withdrawals, and changes in economic conditions and regulations. Therefore, adaptive liquidity management strategies based on prudential principles are required to maintain operational stability and ensure the sustainability of Islamic banking institutions.

The money market plays a vital role in the global financial architecture as a provider of short-term liquidity and a primary channel for monetary policy transmission. This research is motivated by the rapid transformation of financial instruments, which now encompass conventional and Sharia-compliant sectors, as well as digital innovations such as e-money and stablecoins. The purpose of this study is to examine the concept of the money market, identify the diversity of modern instruments, and analyze their strategic role in economic stability through a qualitative literature review approach. The analysis shows that the money market is highly effective in managing bank cash reserves and controlling inflation by regulating the money supply. The presence of digital instruments has been proven to accelerate liquidity flows, while Sharia schemes provide transparent and equitable investment alternatives. However, the emergence of digital assets also brings challenges of volatility that require adaptive regulation and professional skepticism from market participants. The implications of this research emphasize the importance of synergy between monetary authorities and financial technology to address global disruption. Strengthening regulations on future instruments is expected to create a more inclusive and stable financial system that can respond precisely to economic shocks.