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This study reviews the comparison between two popular methods in capital budgeting analysis, namely Internal Rate of Return (IRR) and Payback Period (PP), applied in the investment decision-making process at PT Pertamina (Persero). As a state-owned company in the energy sector that runs various important projects, Pertamina needs to evaluate investment feasibility efficiently. IRR is used to assess the effectiveness of long-term investments by taking into account all cash flows as well as the time value of money, while PP emphasizes more on how quickly the initial capital can be returned. This article uses a literature study method with a descriptive-qualitative approach to explore the advantages and disadvantages of each method. The results of the discussion show that IRR provides a more precise picture of long-term investment returns, while PP is useful for identifying projects that quickly return capital. Nonetheless, the use of each method alone is not comprehensive enough. Therefore, it is recommended that Pertamina integrate IRR and PP with other approaches such as Net Present Value (NPV) and sensitivity analysis to support more comprehensive and strategic investment decisions.

This study aims to evaluate the effectiveness of the implementation of Income Tax Article 25 (PPh 25) in increasing state tax revenue and reducing the tax burden on taxpayers. PPh 25 is a mechanism for periodic tax installment payments made by taxpayers based on estimated tax liabilities. This research adopts a descriptive quantitative approach using secondary data obtained from the Directorate General of Taxes’ reports, supported by questionnaires distributed to taxpayers within a specific Tax Service Office (KPP) area. The results show that the implementation of PPh 25 contributes significantly to tax revenue by encouraging taxpayer compliance and ensuring a stable cash flow for the state. Additionally, the installment system of PPh 25 helps reduce the annual tax burden on taxpayers both psychologically and administratively, as obligations are paid in stages. However, challenges remain in the accuracy of estimating tax liabilities, which can lead to overpayment or underpayment. Therefore, more intensive socialization and technical guidance are needed to improve taxpayers’ understanding and compliance with the PPh 25 mechanism.

Indonesia has a big aspiration to achieve the status of a developed and sovereign country by 2045, known as Indonesia Emas 2045. A strong and adaptive fiscal foundation is a crucial prerequisite to realize this vision. This article aims to analyze the potential for Indonesia's fiscal transformation in the context of this vision. This study uses a qualitative method with a literature study that collects and analyzes from three research journals, namely from economic journals, money and banking credit journals, and financial inclusion development journals, the journals focus on two significant aspects: the necessity of a policy to increase the Value Added Tax (VAT) rate to 12 percent and the influence of the development of the cashless society phenomenon. Through a synthesis and comparative analysis of various previous studies, this article explores the potential economic and social impacts of the increase in tax rates, and identifies the opportunities and challenges posed by the shift in transaction preferences towards non-cash on state revenues and financial management. The results of this study are expected to provide a comprehensive perspective for policy makers in formulating effective, sustainable, and responsive fiscal strategies to economic and social dynamics in order to achieve Indonesia Emas 2045.

The rapid advancement of digital technology has led to significant changes in how people conduct financial transactions, particularly the shift from cash payments to digital methods that are viewed as more efficient, faster, and safer. This study aims to analyze differences in the frequency of using three types of financial transactions cash, e-wallets, and bank transfers in daily life. A quantitative descriptive-comparative approach was applied, involving 47 respondents selected through purposive sampling. The instruments were tested for validity and reliability before analysis. Data were examined using the Friedman test to assess differences in usage frequency among the three methods. The findings show a significant difference in frequency, with e-wallets being the most used, followed by bank transfers, and then cash. These results suggest that people now prioritize convenience, speed, and accessibility in financial activities. The implications highlight the need for financial institutions and payment providers to enhance digital security systems and improve service accessibility. Small business operators are encouraged to adapt to changing consumer preferences that increasingly favor digital payments. Furthermore, improving digital financial literacy is essential to support broader financial inclusion. This study also provides recommendations for policymakers to expand access to digital financial services, especially for underserved communities.

This study wasconducted in dunggala village, tibawa subdistrict, gorontalo regency. The objective Is to determine the effect of clash social assistance (BST) on the consumer behavior of the comunity in dungala vilage. This study employed a quantitative aproach. Data were collected thourgh observation, interviews , questionnaires, and documention. The population consisted of 98 individuals, with a sample of respondents. The date were analyzed using simple linier regresion. The results indicate that cash social assistance (BST)affects the consumer behavior of the comunty in dunggala vilage. Based on the cofficient of the determination (R square), a value of 0, 326 was obtained, indicating that 67,4% of the variabilty in consumer behavior can be explained by the cash social assistance variable, while the remaning 6,74% is affected by other variabels not examined in this study.  

MSME actors in Indonesia still face various obstacles in business management, especially in the aspects of marketing and financial bookkeeping. This condition has a direct impact on the low level of bankability of MSMEs to access financing from banking institutions, especially Islamic banks. This activity aims to provide assistance to MSME actors, especially Toko Cipta Swara Elektronik, to be able to prepare basic financial statements and implement simple digital marketing strategies. The method used in this activity is the ABCD (Audience, Behavior, Condition, Degree) approach, with the implementation in the form of lectures, discussions, hands-on practice, and simulations. The results of the activity show that partners are able to prepare two types of basic financial statements (cash flow and profit and loss), design digital marketing strategies through social media, and understand the requirements for applying for Islamic bank financing. This assistance has proven to be effective in increasing the capacity of partners administratively and strategically, as well as opening up greater opportunities to access sharia financing services.

This study aims to describe the success strategy of the Dodol Deli business, an MSME that has existed since 1988 in Pasar Bengkel, Serdang Bedagai Regency. This business is an example of traditional business resilience in the face of various economic challenges, ranging from the 1998 monetary crisis, road infrastructure development, to the COVID-19 pandemic. This research uses a descriptive qualitative method with a case study approach, through direct interviews with business owners. The results show that the success of Dodol Deli is influenced by strong entrepreneurial character, product innovation, efficient production management, and adaptive marketing strategies, including the utilization of social media. In addition, the decision not to use preservatives and not to rely on modern retail systems is an added value in maintaining product authenticity and customer loyalty. Dodol Deli also demonstrates healthy self-financing practices and receives support through non-cash assistance from the government. These findings reinforce the importance of a combination of local values, business independence, and technological adaptation as keys to MSME sustainability.

Technology sector companies are known for rapid innovation but also face high uncertainty, which is likely to cause financial distress. In Indonesia, several technology firms publicly traded on the Indonesia Stock Exchange (IDX) experienced declining profitability and negative operating cash flows during the 2021–2023 period. The aim of this research is to examine the influence of profitability and operating cash flow on financial distress, with firm value as an intervening variable. The research addresses inconsistencies in financial indicators—declining profits do not always indicate financial distress, especially when firm value is not taken into account. Using secondary data from annual reports and the Investing website, this study makes use of a quantitative method involving path analysis. A purposive sampling technique resulted in 78 firm-year observations. Data analysis was carried out using SPSS software. It was found that both firm value is positively and significantly affected by profitability and operating cash flow. However, only operating cash flow and firm value have a statistically significant positive relationship with financial distress, unlike profitability. Furthermore, firm value does not mediate the relationship between profitability and financial distress but does mediate the relationship between operating cash flow and financial distress. These findings suggest that operating cash flow is a more reliable indicator than profitability in predicting financial distress and emphasize the mediating role of firm value in financial instability.

Cash management is one of the most crucial aspects of financial management in a company, serving to maintain liquidity, optimize fund utilization, and ensure smooth operations. This study aims to analyze effective strategies and techniques in cash management to improve financial efficiency in a business entity. The method used is a literature review with a qualitative descriptive approach. The results show that proper cash management through cash flow planning, expenditure control, and the utilization of cash surpluses can help companies avoid liquidity issues and increase profitability. Therefore, efficient cash management is essential to support the long-term stability and growth of a company.

This study explores the strategies and effectiveness of the recovery of Micro, Small, and Medium Enterprises (MSMEs) in Medan City following the COVID-19 pandemic. By reviewing recent scholarly articles, it examines the roles of government policies, digital transformation, product diversification, and multi-stakeholder collaboration in supporting MSME sustainability. The review findings show that economic stimulus policies such as cash assistance, credit relaxation, and digital training significantly impact the resilience and growth of MSMEs. Moreover, MSMEs' adaptation to technology and the role of communities further strengthen local economic resilience. This study contributes to the literature on regional economic recovery and serves as a foundation for data-driven policy-making.

The development of the digital ecosystem has disrupted the transportation sector. Traditional transportation businesses have shifted to online transportation. This study aims to analyze Blue Bird's strategy in facing the ride-hailing disruption in Indonesia. The research was conducted using a descriptive qualitative approach. The data was sourced from digital searches and observations. The results show that the digital transformation implemented by PT Blue Bird Tbk has improved operational efficiency and competitiveness in the highly competitive transportation market. The My Blue Bird application, with real-time tracking and cashless payment features, has streamlined the booking process and strengthened customer loyalty. The data indicates an increase in app usage and a reduction in operational costs, supporting the effectiveness of the company's digital strategy. Strategic collaboration with ride-hailing platforms has also significantly contributed to market expansion and increased fleet occupancy. The success of this strategy is reflected in the rise in booking volume and overall customer satisfaction. As a further step that has not been fully implemented, it is recommended that Blue Bird explore the application of AI-based predictive models to optimize fleet scheduling and route dynamics. The use of this technology can provide more accurate demand forecasts and support strategic decision-making in resource allocation. Additionally, the development of a customer feedback system integrated with digital analytics will allow the company to respond to consumer trends and preferences more effectively. These measures, supported by enhanced digital infrastructure and cross-sector collaboration, are expected to further boost Blue Bird's efficiency and growth in the digital disruption era.

The skin and hair care industry has experienced rapid growth in recent years. As the digital ecosystem becomes more established, various local products have the opportunity to emerge and exist in the market. Among the local products that have just emerged and found a place in the hearts of consumers is Lavojoy. Research on digital marketing strategies for imported products has been carried out very often, while for local products, especially skin and hair care products, has not been done much. This study aims to analyze Lavojoy's digital marketing strategy in increasing consumer loyalty. The research was conducted using a descriptive qualitative approach. Research data were obtained from the results of digital observations and data searches in various popular site databases related to the research problem. The results of the study show that the digital utilization strategy allows Lavojoy to build a loyal customer community through interactive content, collaboration with influencers, and active engagement through live and polling features. Two-way interactions carried out on Instagram, TikTok, and YouTube have a significant impact on brand awareness and customer emotional attachment to the brand. In addition, e-commerce optimization carried out through exclusive promo strategies, cashback, loyalty programs, and live shopping features has succeeded in increasing customer retention and encouraging repeat purchases. To increase the effectiveness of digital marketing strategies in the future, Lavojoy is advised to increase personalization in digital marketing by utilizing artificial intelligence (AI) and customer data analysis to offer a more personalized shopping experience, as well as developing content and product recommendations tailored to each customer's preferences, both through social media and e-commerce.

Zakat and waqf are two essential instruments in Islamic teachings that hold great potential in supporting philanthropic activities and social development. This study aims to understand the various types of zakat an   d waqf and how their management can be effectively integrated into modern philanthropic practices. Using a qualitative approach with literature review methods, this research explores the concepts, types, and management practices of zakat and waqf in socio-religious and economic contexts. The findings indicate that zakat includes several types such as zakat fitrah, zakat mal, and professional zakat, while waqf comprises productive waqf, cash waqf, and fixed asset waqf. In philanthropic management, both instruments require professional, transparent, and accountable governance to maximize their social impact. The integration of zakat and waqf into modern philanthropic systems not only strengthens the role of religious institutions but also contributes to poverty alleviation and sustainable development.

This study aims to evaluate the effectiveness of the National Cash Social Assistance (BST) policy on the purchasing power of communities in Surabaya. BST is a social protection program launched by the Indonesian government in response to the economic impact of the COVID-19 pandemic. The policy targets low-income and vulnerable groups through direct cash transfers, with the goal of maintaining basic consumption levels and preventing a sharp decline in household welfare. This research examines the extent to which the BST program has achieved its objectives, particularly in enhancing or sustaining the purchasing power of its beneficiaries in urban settings. The study employs an evaluative approach using a mixed-methods design, combining quantitative survey data with qualitative interviews involving aid recipients and local-level implementers. The findings indicate that the BST program had a positive short-term impact on household purchasing power, particularly in meeting essential needs such as food and utility expenses. However, several implementation challenges were also identified, including issues of inaccurate beneficiary targeting, delays in distribution, and the relatively small amount of assistance compared to actual household need. These results highlight that the effectiveness of social policy is not solely dependent on budget allocation but also on the precision of its implementation on the ground. Consequently, the study recommends improvements in beneficiary data updating, enhanced transparency in aid distribution, and the development of more adaptive program designs that reflect local socio-economic conditions. The findings are expected to serve as a valuable reference for policymakers in designing more efficient and sustainable social assistance programs in the future.  

Studi ini bertujuan untuk menelaah kinerja produk pembiayaan di BPRS BAS Purwokerto menggunakan pendekatan Matriks Boston Consulting Group (BCG). Produk yang dianalisis meliputi Murabahah, Multijasa, Qardh, Sewa, Mudharabah, dan Musyarakah. Berdasarkan hasil analisis, produk Murabahah dan Multijasa berada pada kuadran Stars, menandakan pangsa pasar besar dan pertumbuhan tinggi. Produk Sewa menempati kuadran Cash Cows dengan pangsa pasar besar namun pertumbuhan rendah. Sementara itu, produk Istishna, Qardh, Mudharabah, dan Musyarakah terletak di kuadran Dogs, yang mengindikasikan mempunyai pangsa pasar terbatas serta laju pertumbuhan yang rendah.. Strategi untuk diusulkan meliputi perluasan pasar untuk Stars, optimalisasi operasional untuk Cash Cows, serta evaluasi dan inovasi produk pada Dogs.

This study examines the effect of liquidity, leverage, cash flow, and managerial agency cost on financial distress among manufacturing companies listed on the Indonesia Stock Exchange. Using multiple linear regression analysis, the results show that liquidity and cash flow have a significant negative effect on financial distress, indicating that firms with higher current ratios and stronger operating cash flows are less likely to experience financial difficulties. In contrast, leverage and managerial agency costs have a significant positive effect, suggesting that excessive debt and inefficient managerial spending increase the likelihood of financial distress. The coefficient of determination (R²) of 0.983 indicates that these four variables explain 98.3% of the variation in financial distress. The findings emphasize the importance of maintaining financial efficiency and controlling agency costs to enhance corporate financial stability.

This study aims to analyze the role of the Quick Response Code Indonesian Standard (QRIS) as a key driver in the development of Financial Technology (Fintech) that contributes to increasing financial inclusion in Indonesia. Using qualitative methods through a descriptive approach, this study focuses on exploring and understanding phenomena related to QRIS implementation and its impact on the national digital financial ecosystem. Research data was obtained through literature studies from various relevant primary and secondary sources, thus providing a strong theoretical and practical foundation. The results show that QRIS functions as a link between cross-platform digital payment ecosystems, enabling interconnection between service providers, and facilitating non-cash transaction processes in a faster, safer, and more efficient manner. Furthermore, QRIS not only supports the development of financial technology in urban areas but also expands the reach of digital financial services to remote areas that were previously difficult to access by conventional banking services. Thus, QRIS plays a significant role in encouraging public participation in the formal financial system and helping achieve the national financial inclusion targets set by the government. This study concludes that QRIS is a strategic instrument in strengthening the foundation of Indonesia's digital economic transformation. Increasing financial inclusion not only impacts equitable access to financial services but also contributes to more inclusive and sustainable economic growth. These findings illustrate that QRIS is a technological policy innovation with strategic value, not only as a transaction tool but also as a driving force for digital financial integration in the era of national economic transformation. QRIS is a strategic tool in realizing national financial inclusion targets and supporting the vision of transformation towards Indonesia's digital economy.

This study analyzes the effect of sales growth and capital intensity on operating cash flow at PT Sumber Alfaria Trijaya, Tbk during the 2013–2024 period. The research problem raised is whether sales growth and capital intensity have a significant effect on the company's operating cash flow. The purpose of this study is to prove the relationship between these two independent variables and operating cash flow, thus providing a basis for managerial decision-making in Indonesian retail companies. The data used in this study are secondary data in the form of annual financial statements of PT Sumber Alfaria Trijaya, Tbk over the last eleven years. The method used is a quantitative approach with regression analysis, preceded by classical assumption tests including normality, multicollinearity, heteroscedasticity, and autocorrelation tests to ensure the validity of the regression model. The results show that the residuals are normally distributed, the regression model is free from multicollinearity and heteroscedasticity, but there is positive autocorrelation in the residuals. Simultaneously, sales growth and capital intensity are proven to have a significant effect on the company's operating cash flow. These findings emphasize the importance of efficient management of sales growth and capital intensity in maintaining the stability of operating cash flow.

To achieve optimal funding, an effective marketing strategy is needed for the success of the company. The Boston Consulting Group (BCG) Matrix functions as an analytical tool designed to improve performance through mapping between units based on growth rates and relative market share. This research is a field study with a qualitative descriptive approach. The focus of this study is the daily products of KSP Gunung Slamet Ajibarang Branch. The data collection methods applied by the researcher consist of observation, structured interviews, and documentation. The findings of this study describe the product position and strategies that can be implemented by considering market growth and existing market share. Daily products are in the cash cow category with market growth of 6.66% and a relative market share of around 1.10. Strategies that can be implemented include increasing productivity and quality to ensure competitiveness and provide value to consumers.

Batik Tanah Liek is one form of Minangkabau cultural heritage that has a unique coloring process that uses natural materials in the form of clay. This study aims to analyze the business planning of Batik Tanah Liek from two main aspects, namely marketing and finance. The method used is a descriptive approach with secondary data and a five-year financial projection simulation. The marketing strategy is focused on cost-based pricing and digital promotion through social media, participation in cultural events, and partnerships with local business actors. Financial analysis includes profit and loss projections, cash flow, and break-even point (BEP) analysis. The results show that the strategy developed is able to provide significant profit growth potential and healthy cash flow. These findings indicate that Batik Tanah Liek has the potential to develop as a competitive and sustainable local fashion brand.