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Micro, Small, and Medium Enterprises (MSMEs) are an essential pillar of the Indonesian economy, contributing significantly to employment creation, poverty reduction, and income distribution. However, despite their substantial role, MSMEs continue to face a number of persistent challenges, including limited access to capital, low levels of financial literacy, and inadequate utilization of technology. These barriers hinder their ability to grow, compete, and adapt to rapid economic changes. This study aims to explore and analyze the role of Islamic Financial Institutions (IFIs) in empowering MSMEs within the framework of Sharia principles. Employing a descriptive qualitative approach, this research is based on a comprehensive literature review of scholarly articles, official reports, and other relevant academic sources. The findings reveal that IFIs provide both financial and social contributions to MSMEs. Financially, IFIs channel funds through Sharia-compliant contracts such as mudharabah and murabahah, which allow entrepreneurs to access financing without relying on conventional interest-based systems. Socially, IFIs carry out a redistributive role by managing and disbursing zakat, infaq, sadaqah, and waqf (ZISWAF), while also offering entrepreneurship training, mentoring, and technical assistance. These functions collectively enhance MSMEs’ access to capital, strengthen their managerial and operational capacities, and increase competitiveness in both domestic and global markets. Nevertheless, several challenges remain, including the uneven geographical distribution of IFI services, slow adoption of digital technology, and the need for more supportive regulatory frameworks. Strengthening IFIs’ role through policy integration, technological innovation, and collaboration with government and private sectors is essential for maximizing their impact on MSME empowerment. Thus, IFIs not only act as financial intermediaries but also as socio-economic catalysts that support sustainable and inclusive economic development in Indonesia.

This study focuses on examining the relationship between tax planning, deferred tax assets, and deferred tax liabilities on earnings management. The research method used is quantitative with a descriptive approach. The population of the study consists of manufacturing companies in the food and beverage subsector listed on the Indonesia Stock Exchange during the period 2022–2023. The sample comprises 47 company financial statements obtained through purposive sampling, with secondary data as the main source. Data analysis was conducted using multiple linear regression to determine the relationship between the variables under study: tax planning, deferred tax assets, deferred tax liabilities, and earnings management. The results indicate that tax planning and deferred tax liabilities significantly affect earnings management. This suggests that companies can use tax planning strategies to influence reported earnings and manage deferred tax liabilities to achieve desired managerial objectives, such as optimizing tax payments or adjusting earnings levels. However, deferred tax assets do not show a significant impact on earnings management, which may be due to other factors not observed in this study, such as internal company policies or different approaches to managing tax assets. Simultaneously, the findings confirm that all three variables have an impact on earnings management, contributing 10.3%. The remaining 89.7% of the impact comes from other factors not covered in the scope of this research, such as macroeconomic factors, government policies, or even the varying accounting practices of different companies. These findings provide valuable insights into how tax management influences earnings management and open opportunities for further research to better understand other variables that may affect corporate earnings management practices.

This study aims to analyze the application of the full costing method in determining the cost of goods sold at a Sukoharjo Village-Owned Enterprise (BUMDes). The full costing method is an approach that assigns all production costs, both fixed and variable, to the product. It is expected to provide more accurate cost information than the traditional method currently used by BUMDes. This study used a qualitative descriptive approach, using a case study of a BUMDes Sukoharjo that produces traditional foods such as clorot, geblek, and lanting. Data collection techniques included interviews, observation, and documentation.The results indicate that the method currently used by BUMDes Sukoharjo does not capture all production costs, particularly equipment depreciation and other fixed overhead. Calculating the cost of goods sold using the full costing method yields a higher value than the previous method. This difference occurs because the full costing method comprehensively considers all cost elements, providing a more accurate basis for setting selling prices. By implementing the full costing method, BUMDes can improve cost management efficiency and obtain more accurate information for managerial decision-making. Furthermore, applying the full costing method enables BUMDes to better understand the impact of fixed costs on the overall profitability of their products. By factoring in all costs, including overheads and depreciation, BUMDes can make more informed decisions regarding pricing strategies and resource allocation. This method also allows for greater transparency in cost structures, which is essential for effective financial planning and budgeting. Ultimately, the full costing method will contribute to improved financial sustainability and long-term profitability for BUMDes Sukoharjo, helping them navigate challenges in the competitive market of traditional food production.

This study aims to analyze and determine how managerial ownership, firm size, leverage, and capital structure affect financial performance in insurance companies listed on the Indonesia Stock Exchange from 2019 to 2022. The study focused on 15 companies that met the sample criteria and were deemed representative of the Indonesian insurance industry during that period. The data used in this study were sourced from officially published company financial reports. Furthermore, the data was processed using Microsoft Excel 2018 and SPSS version 25 software to ensure accurate analysis results. The analysis method used was multiple linear regression, as it is considered appropriate for testing the influence of more than one independent variable on the dependent variable. This approach allows the researchers to identify whether each independent variable has a significant effect on financial performance when tested simultaneously. The results showed consistent findings across all variables. First, managerial ownership has a positive and significant effect on financial performance. This indicates that the higher the managerial ownership, the better the alignment of interests between managers and shareholders, leading to improved financial outcomes. Second, company size also has a positive and significant effect on financial performance, meaning the larger the company, the better the performance. Furthermore, leverage has been shown to have a positive and significant effect on financial performance. This suggests that optimal use of debt can enhance company performance by providing additional resources for growth. Finally, capital structure also has a positive and significant effect on financial performance, indicating that the right combination of debt and equity can increase company value. Overall, the findings highlight the importance of financial and managerial decisions in shaping the performance of insurance companies in Indonesia during the observed period.

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.

The Independent Entrepreneurship Program is one of the strategic efforts of the Ministry of Education, Culture, Research, and Technology in fostering the entrepreneurial spirit of students through direct experiential learning. This program is present as a forum for students to not only understand entrepreneurship theory, but also to practice in real life the process of building and managing a business. In its implementation, the program involves active collaboration between universities, industry mentors, and field supervisors who play a role in providing direction, guidance, and evaluation of student business development. Through Independent Entrepreneurship, students are given the opportunity to design creative business ideas, run a business on a real scale, and solve various entrepreneurial challenges they face. This activity not only trains managerial, communication, and innovation skills, but also improves critical thinking and problem-solving skills. In addition, students gain valuable experience in terms of teamwork, financial management, marketing strategies, building business networks, and the use of digital technology to support business sustainability. The results of the program implementation show positive impacts, including increased confidence, independence, and students' understanding of the real business world. Furthermore, this program encourages the creation of an entrepreneurial ecosystem in a sustainable campus environment and is able to be the forerunner of the birth of a young generation of Indonesian entrepreneurs who are resilient, innovative, creative, adaptive to changing times, and have high competitiveness. Thus, Independent Entrepreneurship not only plays a role as a skill development program, but also becomes one of the important foundations in preparing students to face the world of work and becoming independent business actors who are professional, visionary, sustainability-oriented, and make a real contribution to the nation's economic development.

This study aims to analyze the extent to which Statement of Financial Accounting Standards (PSAK) 109 on Zakat Accounting has been implemented in the financial reporting of Amil Zakat Institutions. PSAK 109 is designed as a guideline to ensure that the management of zakat, infaq, and alms funds is carried out in an accountable, transparent, and Sharia-compliant manner. The research employs a qualitative descriptive approach, using in-depth interviews, observation, and documentation as data collection techniques, allowing for a comprehensive exploration of zakat accounting practices applied by the institution. The findings indicate that the Amil Zakat Institution has implemented most aspects of PSAK 109, particularly in the recognition, measurement, and presentation of zakat funds, which are clearly separated from non-zakat funds. This practice demonstrates a positive effort by the institution to maintain accountability and transparency in managing public funds. However, the study also reveals weaknesses in the disclosure aspect, especially in the Notes to Financial Statements (CALK), where the information provided remains limited and has not fully met the requirements of PSAK 109. Such limitations reduce the overall quality and transparency of financial reporting. The main challenges in implementing PSAK 109 include the limited number of human resources with sufficient technical knowledge of zakat accounting, the inadequacy of the existing accounting information system, and the lack of intensive technical training. These issues hinder the optimal application of PSAK 109 and may lead to inconsistent interpretations in practice. Therefore, strategic improvements are required through internal capacity building, the development of integrated accounting information systems, and continuous assistance from relevant authorities. These efforts are expected to enhance the quality of zakat financial reporting, making it more transparent, accountable, and Sharia-compliant, while also strengthening public trust in Amil Zakat Institutions as trustworthy managers of public funds.

This study aims to analyze the effect of liquidity and credit risk on the profitability of banks listed on the Indonesia Stock Exchange (IDX) during the period 2018–2022. Profitability is measured by Return on Assets (ROA), liquidity is proxied by the Loan to Deposit Ratio (LDR), while credit risk is measured using the Non-Performing Loan (NPL) ratio. The research employs a quantitative approach with multiple linear regression analysis to test the partial and simultaneous influence of the independent variables on profitability. Data were obtained from the annual financial reports of banks published on the IDX, covering a five-year observation period. The results of the analysis show that credit risk, as measured by NPL, has a significant negative effect on bank profitability. This finding reflects that the higher the NPL ratio, the lower the bank’s ability to generate returns on assets, emphasizing the importance of effective credit quality management. In contrast, the liquidity level measured by LDR demonstrates a positive but statistically insignificant effect on ROA. This suggests that although liquidity plays a role in supporting banking operations, its direct impact on profitability is relatively weak when considered independently. However, when examined simultaneously, both credit risk and liquidity significantly affect bank profitability. These findings imply that effective credit risk management is a crucial determinant of financial performance in the banking sector. High levels of non-performing loans can erode bank profits, while optimal liquidity management supports operational efficiency, even if its impact is not strongly significant in isolation. From a managerial perspective, banks need to strengthen monitoring of loan quality, implement more prudent credit policies, and adopt sustainable liquidity strategies to enhance profitability. For regulators, the results highlight the importance of supervising asset quality and ensuring adequate liquidity management in the banking system. This study contributes to the literature on banking performance by providing empirical evidence on the interaction between credit risk, liquidity, and profitability in the Indonesian banking sector.

Human resources (HR) are a crucial component of any organization, playing a vital role in determining its development and success. One key aspect of HR management is employee performance, which reflects the quality and quantity of employee output in meeting company targets. This study focuses on PT REX Denpasar, a logistics company that experienced fluctuations in monthly revenue throughout 2023. This phenomenon indicates performance issues related to work quantity, delivery accuracy, and time efficiency. Several operational issues identified included variability in staff productivity, delays in delivery schedules, and inaccuracies in shipping data processing. To explore solutions to these challenges, the study examined the role of managerial leadership and financial incentives in improving employee performance, with job satisfaction as a mediating variable. This study covered all 40 employees of PT REX Denpasar, using a comprehensive enumeration sampling method. Data were collected through structured questionnaires, in-depth interviews, and a review of organizational records. Analysis was conducted using a structural path modeling approach to examine the relationships between variables. The results showed that managerial leadership had a significant effect on job satisfaction, as did the financial incentives provided by the company. Furthermore, leadership quality and compensation systems have been shown to have a positive correlation with improved employee performance. Furthermore, job satisfaction was found to act as a substantial mediator, strengthening the influence of leadership and compensation on performance. Thus, improving leadership quality and improving compensation mechanisms not only have a direct impact but also an indirect impact through increased job satisfaction.

This study examines the philosophy of Islamic economics and the legal principles underlying the implementation of the mudharabah muqayyadah contract in Islamic financial institutions. The mudharabah muqayyadah contract is a form of partnership contract involving the shahibul maal (capital owner) and mudharib (business manager), with provisions limited to a certain scope, so that the implementation of this contract must be based on sharia principles that regulate all forms of financial transactions. This study focuses on how ethical values in Islam are integrated with the legal principles of sharia contracts, particularly in maintaining fair relations between the two parties. Through a normative qualitative approach, data were collected from classical and contemporary literature as well as regulations applicable in the Islamic financial sector. The results show that the mudharabah muqayyadah contract is a manifestation of maqashid al-shariah in economic practice, which aims to safeguard assets, uphold justice, and create balance in economic transactions. The legal principles applied in this contract include freedom of contract, good faith, and fairness, which serve to ensure transparency, accountability, and justice between the parties involved. However, the biggest challenges in implementing the mudharabah muqayyadah contract are the aspects of supervision and compliance with sharia principles, as well as technical practices that are often influenced by conventional systems. Therefore, this study recommends the need to strengthen education on sharia philosophy for practitioners in the Islamic financial sector, as well as the need for regulatory harmonization to ensure the fair implementation of the contract, in accordance with the transcendental values taught in Islam. Furthermore, harmonization of regulations governing the mudharabah muqayyadah contract is also crucial to create uniformity in practice across Islamic financial institutions. Clear and firm regulations will reduce the potential for misinterpretation that can lead to bias against the interests of one party.

Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Indonesia's economy with a contribution of around 60% to the Gross Domestic Product and the absorption of more than 90% of the national workforce. In the culinary sector, MSMEs face various challenges, especially in terms of limited access to technology, efficient logistics management, and the implementation of hygiene practices that meet standards. This community service activity aims to empower culinary MSMEs through a structured and comprehensive approach that includes technology training, managerial capacity building, and the implementation of food safety standards. The method of implementing activities consists of three main stages: (1) preparation and planning, (2) implementation of training and mentoring, and (3) evaluation and follow-up. The training is focused on the use of digital technology for business operations, financial and logistics management, and hygiene practices in food production. Mentoring is carried out intensively to ensure that knowledge and skills transfer is effective. The results of the activity showed a significant increase in the understanding and skills of culinary MSME actors. Partners are able to adopt simple technology to support business operations, improve management systems, and implement better hygiene practices. In addition, this activity succeeded in building a collaborative network between MSMEs, academics, local governments, and the private sector, which strengthened the local business ecosystem. However, challenges in the form of limited financial resources and the need for ongoing assistance are still major concerns. Overall, this program makes a real contribution to increasing the competitiveness of culinary MSMEs, encouraging local economic growth, and supporting the development of an inclusive and sustainable business ecosystem based on community empowerment.

This qualitative literature review explores the intricate relationship between managerial self-interest, corporate investment decisions, and stock market valuation. By synthesizing theoretical models and empirical evidence, the study highlights how equity-based managerial incentives and information asymmetry influence investment strategies and market perceptions. The findings emphasize the role of catering theory, illustrating how managers align investment choices with market sentiment to maximize short-term valuation, often at the expense of long-term value creation. Additionally, the review underscores the significance of financial reporting quality and governance structures in mitigating the risks of misaligned incentives. While the review provides valuable insights, it acknowledges limitations related to scope, emerging market contexts, and the evolving financial landscape. The study concludes by advocating for enhanced transparency and regulatory reforms to align managerial incentives with sustainable shareholder value.

This study aims to investigate the influence of Accounting Information Sistem (AIS) adoption on managerial performance within transportation companies listed on the Indonesia Stock Exchange (IDX) over the period 2017–2023. The adoption of AIS is assessed using three key financial indicators: net income after taxes, working capital, and total assets. Managerial performance is measured through Return on Equity (ROE), which reflects the company’s efficiency in generating profit from shareholders’ equity. 

This study aims to analyze the influence of Accounting Conservatism, Corporate Governance, and Financial Distress on Tax Aggressiveness in non-cyclical consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2019 to 2023. This study uses a quantitative approach with secondary data in the form of annual financial reports of sample companies. Sampling was carried out using a purposive sampling technique, resulting in 14 companies that met the research criteria with a total of 70 observations over five years. The analysis method used is panel data regression, and testing was conducted using E-Views 12 software. The main objective of this study is to determine the extent to which conservatism practices in financial reporting, corporate governance, and the company's financial condition (in the context of financial distress) can influence the company's tendency to engage in tax aggressiveness, namely efforts to minimize the tax burden legally but aggressively. The results of the study indicate that simultaneously, the three independent variables—accounting conservatism, corporate governance, and financial distress—have a significant influence on tax aggressiveness. However, only corporate governance (as proxied by institutional ownership) and financial distress were found to have a significant influence on tax aggressiveness. In contrast, accounting conservatism and corporate governance, as proxied by managerial ownership, did not show a significant influence. These findings suggest that companies with high institutional ownership tend to be better able to control aggressive tax management practices, while financial distress encourages management to seek tax efficiency measures as a survival strategy. This research contributes to the interests of regulators and stakeholders in understanding the factors influencing tax aggressiveness in vital industrial sectors such as non-cyclical consumer goods.

This study is a qualitative research employing a case study approach to explore the leadership management of a madrasah principal in improving teacher performance. The data analysis technique used consists of four main steps: data collection, data reduction, data presentation, and drawing conclusions. To ensure the validity and reliability of the findings, source triangulation was applied. The research findings reveal that the madrasah principal plays a multifunctional role encompassing that of a manager, supervisor, and motivator, all of which are central to the effective management of the institution. The principal’s leadership is characterized by a strong orientation toward the achievement of the institutional vision, optimal resource management, and the establishment of a conducive and productive learning environment. Several strategic efforts have been implemented to enhance teacher performance, including the enforcement of work discipline, organizing continuous professional development through teacher training, offering rewards and incentives for achievements, cultivating positive attitudes and mental resilience among staff, and providing financial support to facilitate teaching activities. These strategies reflect a proactive and visionary leadership model that emphasizes communication, motivation, and collaboration. The effectiveness of this leadership approach is evidenced by the significant improvement in teacher performance, contributing to the overall enhancement of educational quality within the madrasah. This study concludes that leadership which is visionary, communicative, and supportive is essential in fostering an environment that promotes teacher development and institutional progress. The results of this research provide valuable insights for education stakeholders, particularly in Islamic educational institutions, on how strategic leadership practices can drive meaningful change and improve educational outcomes. This study also highlights the importance of ongoing support, recognition, and empowerment of teachers as key elements in building a high-performing and motivated teaching workforce.

This study aims to analyze the influence of Good Corporate Governance (GCG), intellectual capital, and leverage on firm value in technology sector companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2024 period. GCG is measured through three indicators: managerial ownership, institutional ownership, and the presence of an audit committee. Intellectual capital is measured using the Value Added Intellectual Coefficient (VAIC™) method, while leverage is measured using the Debt to Equity Ratio (DER). Firm value as the dependent variable is measured using the Tobin's Q ratio. This study uses a quantitative approach with secondary data obtained from annual reports and financial statements of companies accessed through the official IDX website and each company's website. A purposive sampling technique was used to determine the sample, and eight companies were obtained with a total of 32 observation data over a four-year period. The results show that leverage has a significant effect on firm value, indicating that appropriate and proportional debt structure management is a key factor in increasing the value of companies in the technology sector. Meanwhile, managerial ownership, institutional ownership, the presence of an audit committee, and intellectual capital did not show a significant effect on firm value. This suggests that, in the technology sector, external financing strategies play a greater role than internal company factors such as ownership structure and intangible assets. These findings are expected to serve as a reference for company management and investors in formulating financing policies and managing knowledge-based resources.  

The purpose of this study is to assess the financial performance of PT Mayora Indah Tbk. through an analysis of profitability and liquidity ratios over the past five years. A company's financial performance is a key indicator in evaluating operational success, managerial efficiency, and overall financial health. This assessment is important for investors, management, and other stakeholders in strategic decision-making. This study uses a quantitative descriptive approach with a case study as its primary method. The data analyzed are secondary data in the form of PT Mayora Indah Tbk.'s annual financial reports published on the Indonesia Stock Exchange. The ratios analyzed include Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) as profitability indicators, and Current Ratio (CR), Quick Ratio (QR), and Cash Ratio as liquidity indicators. The results of the study indicate that in general, the company is able to maintain a stable level of profitability, despite minor fluctuations from year to year. ROA and ROE indicate that management is quite effective in managing assets and equity to generate profits. NPM also shows a competitive net profit margin compared to similar industries. Meanwhile, the liquidity ratio indicates that PT Mayora Indah Tbk. has a strong and consistent ability to meet its short-term obligations. The CR, QR, and Cash Ratio are all within safe limits, indicating healthy liquidity. In conclusion, PT Mayora Indah Tbk. demonstrates good financial performance in terms of both profitability and liquidity, making it a company worthy of consideration for long-term investment.

The objective of this mentoring activity is to increase the capacity of swimming pool managers, particularly in strengthening management and sustainable management strategies. With this increased capacity, it is hoped that Tirta Arum Swimming Pool can develop into a valuable village asset, both economically and socially. The swimming pool will not only provide a source of income for the village but also serve as a means of recreation, education, and social interaction for the surrounding community. The method used in this mentoring activity is Participatory Rural Appraisal (PRA), an approach that emphasizes active community participation in every stage of the planning process, decision-making, and program implementation. PRA enables village communities, including Tirta Arum Village-Owned Enterprise (BUMDes) managers, to analyze their environmental conditions, identify problems, and design contextual and sustainable solutions. This approach is implemented through structured mentoring, education, and training activities. Direct community involvement aims to foster a sense of ownership and responsibility for swimming pool management. In addition, with training tailored to local needs, managers are expected to be able to apply effective management principles, from planning and financial management to customer service and promotional strategies. Thus, the results of this activity are not only temporary improvements, but also long-term empowerment that contributes to the independence and business aspirations of the Village-Owned Enterprise (BUMDes). Through the PRA method, this activity not only provides an immediate solution to swimming pool management problems but also increases the independence of the community and managers in developing and operating the business sustainably. This increased community participation is expected to foster a sense of ownership (a sense of belonging) towards the swimming pool as a shared property.

This study aims to determine and analyze the potential and challenges of culinary businesses, the implementation of digitalization and halal certification, and the development of an effective and sustainable model for the "Resto Apung" culinary business to support food economic independence in coastal villages. The research was conducted at "Resto Apung" using a qualitative descriptive method with data collection techniques such as interviews, observations, and focus group discussions. The findings show that the "Resto Apung" business holds significant potential as a culinary destination with a strong attraction due to its unique location and menu offerings based on local marine products. However, several challenges hinder its development, including low digital literacy among business managers, lack of structured and professional management systems, and the absence of halal certification which is crucial in targeting broader Muslim consumer segments. Currently, digitalization has only been applied in the marketing aspect, primarily through social media, while other aspects such as financial management, customer service, and operational processes are still managed conventionally. Nevertheless, the managers have shown awareness and initiatives to improve, especially in recognizing halal certification as a strategic competitive advantage. The proposed development model integrates digitalization into all aspects of business management, enhances human resource capacity through technical and managerial training, and includes efforts to obtain halal certification. This holistic approach is expected to increase the competitiveness of the culinary business, optimize local potential, and ultimately contribute to the achievement of food economic independence in coastal areas.

Food and beverage companies play a vital role in the Indonesian economy, despite facing various challenges such as fluctuating raw material prices and intense market competition. Return on Assets (ROA) is used as an indicator to assess a company's profitability performance, which is crucial for determining the extent to which a company can generate profits from its assets. This study aims to analyze the effect of three financial variables, namely the current ratio (CR), debt to equity ratio (DER), and working capital turnover (WCT), on return on assets in food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2024 period. The approach used in this study is a quantitative approach with data analysis techniques that include classical assumption tests, multiple linear regression analysis, hypothesis testing, and coefficient of determination tests. The sample used in this study was 31 food and beverage companies selected using purposive sampling techniques based on certain criteria. The results of the study indicate that (1) debt to equity ratio and working capital turnover partially have a significant effect on return on assets, while the current ratio does not have a significant effect on return on assets. (2) Simultaneously, the current ratio, debt to equity ratio, and working capital turnover have a significant effect on return on assets in food and beverage companies listed on the IDX. The findings of this study state that the DER and WCT variables have a strong influence on ROA, which means that both are important factors in improving the profitability performance of companies in the food and beverage sector. Thus, the results of this study can provide insight for company managers and investors in making decisions related to financial management to maximize company profitability.