Publication Search

Dawet Ayu in Banjarnegara Regency is one of the traditional culinary micro, small, and medium enterprises (MSMEs) that until now is still able to survive and continue to grow. This typical beverage product not only has cultural value, but also has the potential to be a promising economic source for the local community. However, the reality on the ground shows that Dawet Jabung's business actors are still facing various serious obstacles. Limited understanding of business management, difficulties in calculating production costs in detail, and inability to determine the right selling price of products are the main obstacles. In addition, the low knowledge related to aspects of marketing, promotion, and business communication strategies makes it difficult for this business to expand the market. As a result, some business actors have actually experienced a significant decrease in sales from year to year. To answer these challenges, community service activities are carried out through two approaches, namely Action and Quality Awareness and Rapid Rural Appraisal (RRA). Action and Quality Awareness are carried out through extensive counseling, lectures, and mentoring aimed at increasing the knowledge of business managers. In this activity, business actors are guided to understand the importance of financial recording, cost management, and strategies to improve product quality. Meanwhile, the RRA method is used to identify real needs in the field, as well as prepare training, mentoring, and coaching programs that are relevant to business conditions. The results of the activity showed an increase in the ability of partners to classify production costs into the categories of raw materials, labor, overhead, marketing, and transportation. In addition, business actors are now more skilled in determining selling prices based on the realization of costs incurred, not just estimates. They also began to compile simple bookkeeping related to assets, debts, and capital, so that business management became more professional, transparent, and sustainable

This study aims to analyze the influence of Gross Profit Margin (GPM) and Inventory Turnover Ratio (ITR) on profit growth at PT Gudang Garam Tbk during the period 2014–2024. The research employs a quantitative method with a descriptive approach and utilizes multiple linear regression analysis. Data were gathered from financial report documentation and a literature study. The F-test results indicate that GPM and ITR, when considered together, have no significant effect on profit growth, with an F-statistic value of 1.065, which is lower than the F-table value of 5.318, and a significance value of 0.389 > 0.05. Furthermore, the t-test results reveal that GPM (t-statistic 1.122; p = 0.295) and ITR (t-statistic 0.160; p = 0.877) do not have a significant partial effect on profit growth, as the significance values of both variables are higher than 0.05. The findings suggest that GPM and ITR are not the primary factors influencing the company's profit growth. Therefore, it is recommended that external factors such as market conditions, industry trends, and economic variables should be considered more carefully in managerial decision-making. This study contributes to the understanding of financial performance analysis, providing insights for both academics and practitioners in the field of corporate finance.

This community service program was carried out by students of Universitas Pelita Bangsa in Karangsetia Village, Karang Bahagia District, Bekasi Regency, as a concrete effort to strengthen the capacity of micro, small, and medium enterprises (MSMEs) in facing the challenges of digitalization. MSMEs in this area still encounter various obstacles, such as the absence of formal business legality, limited understanding of branding strategies, and minimal utilization of digital technology for both marketing and payment systems. These conditions have weakened business competitiveness and hindered the growth of local enterprises. The program focused on three interrelated aspects: legal compliance, brand development, and digital adoption. Business legality was facilitated through the issuance of the Business Identification Number (NIB), which provides legal certainty while granting access to government programs and financial institutions. Branding was strengthened by designing logos, banners, and simple promotional media to enhance business identity, professionalism, and consumer appeal. Digitalization was promoted through business registration on Google Maps to improve visibility, and the adoption of the Quick Response Code Indonesian Standard (QRIS) as a cashless payment method that is efficient, secure, and widely accepted. The methods employed included observation, socialization, mentoring, and participatory evaluation with business owners. The results demonstrated significant progress, as most MSMEs successfully obtained legal registration, adopted QRIS in daily transactions, registered their businesses on Google Maps, and developed clearer visual identities. This program had a positive impact by increasing entrepreneurial confidence, expanding market reach, and fostering awareness of the importance of digital transformation. Overall, the community service program contributed to strengthening the competitiveness, sustainability, and independence of MSMEs in Karangsetia Village, while supporting the development of the local economy.

This study explains the analysis of the relationship between nurses' knowledge and compliance in implementing fall risk prevention in the inpatient ward of RSI Sultan Agung Banjarbaru. Fall risk is one of the most common patient safety incidents in hospitals, with significant impacts on the physical, psychological, and financial conditions of patients. Data from RSI Sultan Agung Banjarbaru in 2024 recorded three fall incidents, while a preliminary survey showed that 40% of nurses had insufficient knowledge of fall risk prevention and 60% were not compliant with existing preventive procedures. This study aims to determine the relationship between nurses' knowledge and compliance in reducing patient fall risk. The study design used a quantitative approach with a cross-sectional method, involving 97 nurses selected through simple random sampling. The instruments used were questionnaires designed to measure nurses' knowledge and compliance. Data were analyzed using Somers’ D test. The results showed that the majority of nurses had good knowledge (87.6%) and high compliance (90.7%). Additionally, a very strong and significant relationship was found between nurses' knowledge and compliance in implementing fall risk prevention (Somers’ D = 0.844; p = 0.000). This indicates that good knowledge of fall risk prevention procedures is strongly related to nurses' compliance in applying preventive measures. Therefore, it is essential for hospitals to provide ongoing education and training to enhance patient safety. With improved knowledge and compliance among nurses, fall risks are expected to be minimized, and patient safety can be better maintained.

This study aims to analyze the prediction of financial distress using the Altman Z-Score, Springate, and Zmijewski methods at PT Sri Rejeki Isman Tbk in 2019-2023. This type of research is descriptive research with a quantitative approach. Using secondary data with documentation techniques and literature studies in the form of related company financial reports, books, articles, journals and other publications related to the research topic. The sampling technique was carried out using a purposive sampling method. The sample in this study was obtained using a purposive sampling technique and obtained as many as 5 financial reports from the company PT Sri Rejeki Isman Tbk for the period 2019-2023. The results of the study show that the results of calculations using the Altman Z-Score method indicate that in 2019-2023 PT Sri Rejeki Isman Tbk experienced fluctuations in the company consistently still in the category of bankruptcy, the Springate method shows that the company experienced a decline in its financial performance, and the Zmijewski method shows that companies that experience fluctuations in financial performance conditions, Although there are fluctuations in the X-Score value and improvements in certain years.

Unstable financial conditions in insurance companies can serve as an early indicator of potential bankruptcy, which may have wide-ranging impacts on policyholders, shareholders, and the overall stability of the financial sector. Therefore, early detection of bankruptcy risk is critically important. This study aims to evaluate the effectiveness of the Springate model in identifying potential bankruptcy among insurance companies listed on the Indonesia Stock Exchange during the 2022–2024 period. The Springate model was chosen due to its simplicity and its ability to provide quantitative insights into a company's financial condition. Data were collected from the annual financial statements of 16 companies selected through purposive sampling based on the completeness and consistency of their financial reporting. The model applies the S-Score calculation as the basis for classifying companies into financial distress or non-financial distress categories. The analysis revealed that six companies consistently exhibited signs of financial difficulty, with three of them identified as being in a state of financial distress for three consecutive years. Meanwhile, the other ten companies demonstrated stable and healthy financial conditions throughout the observation period. These findings indicate that the Springate model is reasonably practical as an early detection tool for bankruptcy risk, particularly in the insurance sector, which is influenced by various internal factors such as risk management, as well as external factors like economic fluctuations and government regulations. Therefore, this model can be utilized as a decision-support tool for both management and investors in making strategic financial decisions.

Micro, Small, and Medium Enterprises (MSMEs) play a strategic role in supporting regional economic growth, job creation, and equitable distribution of community welfare. In Cilegon City, MSMEs are growing rapidly in various sectors, but still face a number of fundamental challenges. The main problems faced include limited access to capital, low utilization of digital technology in business activities, limited managerial capacity, and less than optimal regulatory support oriented towards strengthening MSMEs. These conditions cause the competitiveness of MSMEs to be relatively weak compared to the large business sector, so that their contribution to the Gross Regional Domestic Product (GRDP) of Cilegon City is not optimal. This study aims to analyze policy strategies that can support the development of MSMEs in Cilegon City through a descriptive qualitative approach. The method used is a literature study and policy analysis by examining regulations, local government policies, and relevant previous research results. The analysis results show that there are several strategies that can be implemented, including: strengthening regulations and policies that favor MSMEs, expanding access to financing through collaboration with financial and banking institutions, developing human resource capacity through entrepreneurship and business management training, utilizing digital technology to expand market access, and building synergies between local governments, the private sector, and other supporting institutions. The implementation of these strategies is expected to increase the competitiveness of MSMEs, expand marketing networks, and encourage MSMEs to be more adaptive to technological developments and market needs. Thus, MSMEs in Cilegon City can make a more significant contribution to regional economic growth, create new jobs, and support sustainable economic development.

This study addresses common problems in start-up businesses: lack of financial management and low presentation of financial statements due to limited human resources. With a conceptual qualitative research (CQR) approach, the research integrates accounting theory and business life cycle theory to design a process for presenting relevant financial statements for business actors who run individual operations. The main findings point to two things: first, the need for resources that understand finance is an inevitability that can be met through education, training, and induction observation; Second, the synthesis of accounting theory and business life cycle maps the conceptual area for the report presentation model that is tailored to the conditions of the beginner business. The proposed model covers the scope of management ranging from recording transactions on the cash mutation book, journaling to reveal the double impact of transactions, to grouping account balances on the ledger to produce relevant information. This process differs from the conventional accounting cycle in that it starts from the cashier function combined with the accounting function, thus reducing the need for separate specialists. The combination of cashier and accountant functions in one practical and relevant accounting flow for individual businesses, allows business owners to supervise their financial performance and position through simple but informative reports.

This study aims to analyze the influence of company characteristics, including Current Ratio, Debt to Asset Ratio, and Company Size, on Financial Performance. The population studied consists of companies in the F& B sector listed on the IDX during the period 2020-2024. The sample in this study was selected using the purposive sampling method. Out of the 24 companies listed in the sector, 3 companies were eliminated because they did not meet the established criteria, resulting in a final sample size of 21 companies. To test the influence of independent variables on the dependent variable, the multiple linear regression analysis technique was applied. The research results show that Company Size has a positive and significant effect on financial performance, while the Debt to Asset Ratio has a negative and significant effect on financial performance. On the other hand, the Current Ratio does not show a significant effect on financial performance. However, the Current Ratio does not appear to significantly affect financial performance. While it is a measure of liquidity, the results of this study suggest that liquidity alone does not guarantee profitability or financial success. It is possible that other factors, such as market conditions or management practices, may play a more dominant role in influencing financial performance. Overall, this research emphasizes the need for companies in the F&B sector to carefully manage their debt levels and consider the benefits of growing their company size to improve financial performance. Future studies could explore the role of other factors, such as operational efficiency and market conditions, to gain a more comprehensive understanding of what drives financial success in the industry.

A company's financial performance is one of the main indicators in assessing the health and sustainability of a business entity's operations. Evaluation of financial performance is crucial, especially for large companies operating in strategic sectors such as telecommunications. PT. XL, as a telecommunications company listed on the Indonesia Stock Exchange, requires regular performance assessments to provide a clear picture of the effectiveness of its business strategy and its ability to generate profits. This study aims to analyze PT. XL's financial performance using a profitability ratio approach. The research method used is descriptive quantitative, utilizing secondary data sourced from the company's financial statements, including the balance sheet, income statement, and other financial statements for the 2021–2023 period. The profitability ratios analyzed include Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), Gross Profit Margin (GPM), and Earnings Per Share (EPS). These five ratios were chosen because they are able to describe the company's ability to generate profits, both in terms of sales, total assets, and shareholder equity. The analysis results indicate that PT. XL's financial performance during the study period is still less than optimal. This is reflected in the profitability ratio, which is below the average standard for the Indonesian telecommunications industry. This condition indicates that the company has not been able to optimally manage its resources to generate competitive profits. This finding has important implications, namely the need to evaluate financial management strategies, operational cost efficiency, and improve service quality to increase company profitability in the future. Therefore, this study confirms that profitability ratio analysis is a crucial instrument for assessing a company's financial condition and serves as a basis for formulating performance improvement strategies.  

This study aims to examine the effect of liquidity, profitability, leverage, and accounts receivable turnover on financial distress. The sample used in this study is banking companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. The population sample in this study is 47 companies. The sample was determined using a purposive sampling method, resulting in 10 companies. The type of data for this study is secondary data obtained from www.idx.co.id. The analytical method used was multiple regression analysis. The results of this study indicate that simultaneously, the variables liquidity, profitability, leverage, and accounts receivable turnover significantly influence financial distress. Partially, the liquidity variable has a negative and significant effect on financial distress, while the profitability variable has a negative and significant effect on financial distress. Leverage and accounts receivable turnover have no effect on financial distress. Furthermore, the Adjusted R-square coefficient is 95.3%, indicating that 4.7% is influenced by other variables. These findings suggest that companies with better liquidity and profitability levels have a lower probability of experiencing financial distress. This aligns with the theory that high liquidity ensures the availability of cash to meet short-term obligations, while strong profitability supports operational sustainability and investor confidence. On the other hand, leverage and accounts receivable turnover did not significantly affect financial distress, which may indicate that banking companies have a more stable debt structure and effective credit management, reducing their influence on distress conditions. This research provides practical insights for company management, investors, and regulators. For managers, maintaining optimal liquidity and profitability levels is essential to prevent financial difficulties. For investors, liquidity and profitability indicators can serve as reliable references for investment decision-making.

This study aims to determine the influence of transformational leadership style, physical work environment, and intrinsic compensation on employee performance on CV. Nina Etik Garment Indonesia, a written batik industry operating in Mojokerto. The background of this research departs from the phenomenon of low employee productivity which is allegedly influenced by internal and external factors of the organization. The research method used is a quantitative approach with a census method for all permanent employees totaling 39 people. Data analysis was carried out using Structural Equation Modeling–Partial Least Square (SEM-PLS) based on the SmartPLS 4.1.1.2 application. The results show that only the physical work environment has a significant effect on employee performance. This indicates that the factors of comfort, security, and the feasibility of work facilities have a dominant role in improving employee performance. In contrast, transformational leadership styles and intrinsic compensation have not been shown to have a significant impact. These findings provide an idea that the motivation of employees in the creative industry sector based on local culture such as written batik is more influenced by the real working conditions they face on a daily basis than by a leadership approach or non-financial reward alone. The practical implication of this research is the need for company management to prioritize improving the physical aspects of the work environment, such as lighting, ventilation, cleanliness, and ergonomic workspace layout. By creating a comfortable and supportive work environment, employee productivity and performance can be significantly improved. In addition, although there is no significant effect in this study, leadership style and intrinsic compensation still need to be considered in order to create a balance in the sustainable human resource management strategy and be able to support innovation, creativity, and competitiveness of the company.

This study aims to analyze the effect of profitability, firm growth, capital structure, and firm size on firm value in the infrastructure sector listed on the Indonesia Stock Exchange during the period 2020–2024. The data used in this study are secondary data obtained from company financial statements. The sampling technique employed was purposive sampling. The results show that profitability and firm size have a negative and significant effect on firm value. These findings indicate that increases in profitability and company scale do not automatically enhance market perceptions of firm value, possibly due to a misalignment between internal performance and investor expectations. Meanwhile, firm growth and capital structure do not have a significant effect on firm value. This suggests that the market does not yet regard growth or debt ratios as determining factors in evaluating companies in this sector. Furthermore, the results of this study highlight the importance of corporate management in managing internal factors that can influence market perceptions. Although profitability and company size negatively impact company value, this opens up opportunities for companies to focus more on communication strategies and information transparency with investors to mitigate investor expectations. Companies also need to revise their growth and capital structure policies to better align with market needs and the dynamics of the developing infrastructure sector. Furthermore, this study provides an important contribution to policymakers and financial practitioners in understanding the unique characteristics of the infrastructure sector in Indonesia. The insignificant influence of growth and capital structure suggests that external factors such as market conditions and regulations may be more dominant in determining company value in this sector. Therefore, further research could broaden its scope by incorporating macroeconomic variables or environmental and social aspects, which are currently of concern to investors in making investment decisions.

This study aims to analyze the effect of leverage measured by Debt to Asset Ratio (DAR) and activity ratio measured by Total Asset Turnover (TATO) on profitability measured by Return On Assets (ROA) at PT ABC Indonesia Tbk for the 2015–2024 period. The analysis is carried out both partially and simultaneously to provide an overview of the factors that affect the company's profitability. The type of research used is descriptive quantitative with secondary data obtained from the company's annual financial statements, in the form of balance sheet and income statements. Data analysis methods include t-test, f-test, and determination coefficient (R²). The results of the study show that partially, the Debt to Asset Ratio (DAR) does not have a significant effect on the Return On Assets (ROA). This indicates that the company's leverage level, in the form of a comparison of total debt to total assets, did not directly contribute to the level of profitability during the study period. Similarly, Total Asset Turnover (TATO) is also partially unaffected by ROA. These findings suggest that the effectiveness of a company in utilizing total assets to generate sales has not fully affected profitability. However, the results of the simultaneous test (F test) showed that DAR and TATO together had a significant effect on ROA. A determination coefficient value (R²) of 0.6037 or 60.37% indicates that the variation in the company's profitability can be explained by these two independent variables. Meanwhile, the remaining 39.63% was influenced by other factors outside the research model, such as operational efficiency, cost structure, marketing strategy, and external conditions of the retail industry. Thus, this study confirms the importance of comprehensively considering leverage and asset activity in managing a company's profitability, although the partial influence of each variable has not shown strong significance.

This study aims to evaluate the financial condition of four private banks, namely Bank Mega, Bank JTrust, Bank Danamon, and Bank Panin listed on the Indonesia Stock Exchange during the period 2015 to 2024. The analysis uses the Risk-Based Bank Rating (RBBR) approach with a quantitative method, where the data source is derived from published annual financial statements. The sampling technique was carried out by purposive sampling with the criteria of financial statements available for the last 10 years and the fluctuations in profits in the last three years. The bank's health assessment is carried out through four main aspects. First, the risk profile is measured using non-performing loan (NPL) ratios and liquidity levels through the Loan to Deposit Ratio (LDR). Second, Good Corporate Governance (GCG) is evaluated based on regulatory compliance and transparency reporting. Third, profitability which includes the return on asset ratio (ROA) and net interest margin (Net Interest Margin / NIM). Fourth, the capital aspect is analyzed through the Capital Adequacy Ratio (CAR). The results of the study show that in general, the four banks are in a healthy condition, especially in terms of capital and governance, which reflects the bank's ability to meet the minimum capital requirements and maintain management practices in accordance with banking industry standards. However, significant differences were found in the risk and profitability aspects. Banks that have less than optimal risk management tend to experience an increase in NPLs, while banks that are more efficient in managing operational costs are able to maintain ROA and NIM at a more stable level. In addition, external factors such as global economic conditions, monetary policy, interest rates, and interbank competition also affect financial performance.

The use of credit by the public is generally driven by the need and desire to meet certain requirements that cannot be fulfilled with cash. Credit makes it easier for people to meet their various needs, especially for those who do not have enough funds at the time. However, in practice, there are often obstacles such as payment delays, breaches of agreed-upon deadlines, and discrepancies in the recording of installment payments. These issues can create problems for both the creditor and the debtor. This study aims to examine the use of the credit concept by the community and analyze how credit helps fulfill the needs of the community. The study uses a qualitative method with a descriptive research approach. Data collection was done through observation, interviews, and document gathering. The collected data were then analyzed by presenting the data and drawing conclusions. The results of the study show that the use of the credit concept by the community in Rantau Panjang Estate to meet their needs has fulfilled the conditions of a muamalah agreement in accordance with the principles of buying and selling. First, the people involved in the transaction, namely the seller and the buyer, must meet the requirements of being rational, consenting freely, and agreeing mutually. Second, the agreement between the seller and the buyer must include the price and the payment period that both parties have agreed upon. Third, the object or goods being sold must have utility and be clearly defined in terms of its nature, size, and type. Fourth, the price must be clear, with the credit price being higher than the cash price. Additionally, the use of credit by the community in Rantau Panjang Estate has also applied the principles of the Islamic market mechanism, such as Ar-Ridha (mutual consent), healthy competition, honesty, transparency, and justice. This indicates that the credit transactions conducted are in accordance with the rules of Islam and can serve as a fair model for all parties involved.

This study aims to analyze the influence of auditor experience and professionalism on the ability to detect audit conditions in Public Accounting Firms (KAP) in South Jakarta. The background of this study is based on the important role of auditors in ensuring the integrity of financial statements and preventing financial practices that can harm various parties, including investors, shareholders, and regulators. In an increasingly complex business world, layout practices are increasingly difficult to detect without adequate professional skills. Therefore, factors such as auditor experience and professionalism are crucial in supporting audit quality. This study used a survey method with a questionnaire instrument distributed to auditors working at several KAPs in the study area. The collected data were analyzed using Statistical Package for the Social Sciences (SPSS) software to test the proposed hypotheses. The results showed that auditor experience significantly influenced the ability to detect audit conditions, indicating that the greater the auditor's work experience, the sharper their ability to identify indications of conditions. In addition, auditor professionalism was also proven to have a positive effect on the detection of audit conditions. Aspects such as responsibility, objectivity, competence, and commitment to professional ethics are important foundations for an effective and independent audit process. These findings indicate that integrity, responsibility, and adherence to professional standards are important factors supporting audit effectiveness. This research is expected to serve as a reference for public accounting firms (KAPs) in improving audit quality through competency development, ongoing training, and upholding auditor professional ethics in the workplace. This study also recommends the need for ongoing training to increase auditor sensitivity to increasingly complex conditions.

This study aims to predict the potential bankruptcy of PT Argo Pantes Tbk for the period 2014–2024 using the Zmijewski X-Score model. The research adopts a quantitative method based on secondary data obtained from the company’s published annual financial statements. The Zmijewski model was selected because of its effectiveness in assessing companies with unstable financial conditions and its ability to provide a more accurate reflection of financial distress compared to other models. The analysis process involved calculating the X-Score for each year within the observation period and interpreting the results according to the criteria of the model. The findings indicate that for the entire study period, the calculated X value was consistently greater than or equal to zero. This outcome signifies that the company is in a condition classified as potentially bankrupt. Furthermore, the model demonstrated 100% accuracy in describing the company’s actual financial situation, since PT Argo Pantes Tbk consistently recorded net losses throughout the period of analysis. These losses were not incidental but reflected a long-term pattern of weak financial performance, limited profitability, and declining competitiveness in the textile industry. The results highlight that PT Argo Pantes Tbk has been operating under severe financial distress for a prolonged period, with no indication of recovery during the years observed. The persistent losses and negative financial indicators reinforce the conclusion that the company is in an unhealthy condition. The study confirms the applicability and reliability of the Zmijewski X-Score as a bankruptcy prediction tool in the Indonesian context, particularly for firms experiencing prolonged instability. Overall, the study provides valuable insights into financial distress analysis and underscores the importance of early bankruptcy prediction models in supporting stakeholders, investors, and regulators in making informed decisions.

This study aims to analyze cash management practices in Batik MSMEs in Cirebon Regency using a qualitative approach that combines direct observation and in-depth interviews with business owners. The study found that most Batik MSMEs still rely on manual cash management systems, which ultimately poses various challenges, particularly in terms of unstructured financial recording and minimal cash flow planning. This condition makes it difficult to communicate receipts and expenditures in real time, potentially leading to errors in fund management and disrupting business financial stability. Furthermore, the study revealed variations in cash receipt recording methods, such as daily or weekly recording, which are inconsistent across MSMEs. This impacts transparency and effective financial control. The lack of thorough cash flow planning also makes it difficult for business owners to deal with insufficient liquidity, especially when there is a surge in sales or sudden needs. As a result, some MSMEs experience problems meeting their payment obligations on time, including to suppliers and employees. The findings of this study highlight the importance of financial literacy education for Batik MSMEs so they can understand the basic concepts of cash management well. Furthermore, the use of digital technology, such as simple financial recording applications, is highly recommended to improve efficiency and accuracy in cash flow management. This technology implementation is expected to assist MSMEs in making more informed financial decisions and supporting the long-term sustainability of their businesses. Therefore, this study provides strategic recommendations for local governments and MSME support institutions to provide adequate training and technological facilities to strengthen financial management capacity in the batik MSME sector in Cirebon Regency.

This research is motivated by significant fluctuations and a decline in profits for companies in the clothing and luxury goods subsector listed on the IDX for the period 2021-2023, indicating potential financial difficulties. This research aims to evaluate the company's condition using four prediction models, namely Altman-ZScore, Springate, Fulmer, and Taffler, and to determine the most suitable model for the sector. The method applied is quantitative comparative with a purposive sample of 11 companies, using financial statement data from 2021-2023 and analyzed using the formulas for each predictive model. The research findings indicate that the four models produce different predictions regarding the company's financial condition. Additionally, there are differences in the accuracy levels of the four models. The Springate and Taffler models achieved the highest accuracy rate of 85%, followed by Altman at 67% and Fulmer at 64%. The findings of this study confirm that the Springate model is the most reliable tool for early warning for companies and stakeholders, enabling faster preventive measures to prevent bankruptcy.