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Late payment of accounts receivable is a serious challenge that can disrupt the stability of the company's cash flow and financial performance. This study aims to evaluate the role of risk management in minimizing late payment of accounts receivable at PT Alam Mulya, a logistics company in Surabaya. The research method used is descriptive qualitative with a case study approach, through direct observation, interviews, and documentation during the five-month internship period. The results showed that the company has implemented risk management principles, such as customer identification, setting credit limits, monitoring maturity, and implementing active collection. However, the implementation has not been thorough and consistent, especially in the aspects of using digital systems, documenting credit policies, and applying sanctions for late payments. It was also found that decision interventions based on personal relationships hindered the effectiveness of risk control. This study recommends the implementation of an integrated digital system, the establishment of a written credit policy, and staff training related to risk management and collection. By strengthening comprehensive risk management, the company is expected to improve the efficiency of receivables management and maintain optimal cash flow sustainability.

The development of financing practices with fiduciary guarantees in Indonesia often raises legal issues, especially regarding the unilateral withdrawal of credit objects by creditors against defaulting debtors. This action is often carried out without the consent of the debtor or a court decision, thus potentially violating the principles of justice and the principle of due process of law. This research aims to analyze the form of legal protection for debtors in a fiduciary financing agreement. The type of research used is normative juridical with an approach to legislation and court decisions. The results showed that the act of unilateral withdrawal can be categorized as a civil and criminal tort. Therefore, regulatory reform, increased legal literacy, and a fair and humanist dispute resolution mechanism are needed. It is recommended that fiduciary execution be carried out in accordance with legal procedures to protect the debtor's constitutional rights and ensure fairness in contractual relationships.

The legal mechanism of bankruptcy relies on the concept of debt, because the absence of debt undermines the fundamental purpose of bankruptcy as a legal institution to liquidate the debtor's assets to satisfy creditors' claims. Debt is the main criterion that must be met in order to be able to apply for bankruptcy, along with additional provisions such as having two or more creditors, as stipulated in Article 2, paragraph (1) of Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations (Bankruptcy Law). Notaries who have completed the bankruptcy process and are undergoing rehabilitation to improve their good name cannot re-apply to become Notaries. Here, the Notary will lose his/her right to work to carry out his/her position simply because the Notary has or has been sentenced to bankruptcy by the court. This bankruptcy is simply the notary's inability to pay the debt owed to the creditor, not a criminal act. If associated with the provisions contained in the 1945 Constitution of the Republic of Indonesia, namely Article 28 letter d concerning Human Rights which explains that everyone has the right to work and receive fair and proper compensation and treatment in employment relations, the efforts made in this problem are handled in accordance with the law and will be a substantial obligation for the curator. Based on Article 1 number 5 (Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations), it states that a curator is an individual or an estate office appointed by the court to resolve and manage all problems of the bankrupt debtor's assets under the supervision of a supervising judge based on applicable laws. The citation of the law shows the clear jurisdiction of the curator over the debtor's property and assets.

Interpretation of debt-to-equity swap provisions for goods purchase transactions as stipulated in the Financial Services Authority Regulation (POJK) Number 14/POJK.04/2019 concerning Affiliated Transactions and Conflicts of Interest in Certain Transactions. The principle of openness and fairness in transactions between affiliated parties, including in the context of debt-to-equity swaps. However, this provision does not explicitly regulate the conversion of debt arising from goods purchase transactions, thus creating room for legal interpretation regarding whether business debt from operational activities can be converted into equity participation through the issuance of new shares. This study aims to analyze the implementation of debt-to-equity conversion as a financial restructuring strategy, with a focus on legal certainty and protection of public shareholders based on POJK 14/2019. The study uses a normative legal approach with the method of statutory regulations and case studies on PT SLJ Global Tbk. The results of the study indicate that PT SLJ Global Tbk has complied with the formal procedures of POJK 14/2019, including information disclosure, GMS approval, and unaffiliated creditor criteria. However, the conversion of business debt creates legal ambiguity due to the lack of clarity as to whether the debt meets the definition of “loan” in POJK 14/2019. In addition, the dilution of public shares by 34.32% without adequate protection mechanisms indicates a lack of legal certainty. The study recommends normative interpretation and strengthening of regulations to ensure fairness and legal certainty in the practice of debt conversion. Keywords: ; ; ; ; 

Bank credit agreements are often drafted in the form of standardized clauses that are detrimental to customers because they are made unilaterally by banks without room for negotiation. This position imbalance is exacerbated by low legal literacy and information asymmetry between the two parties. This research aims to analyze the ideal form of legal protection for customers in the face of harmful standard clauses. Through a normative juridical approach and case studies, it is found that regulations such as the Consumer Protection Law and POJK have provided a legal basis, but their implementation is still weak. Ideal legal protection includes three aspects: preventive, repressive, and curative, and requires the active role of the state and OJK as supervisors. Regulatory updates, strengthened legal education, and fairer contract supervision are needed to create an equitable and inclusive financial ecosystem. Effective protection will also strengthen public confidence in the banking sector.

The purpose of this study is to examine how the growth of digital payment systems has affected Indonesia's financial system and rupiah stability. More people are using digital payment methods like e-money, credit cards, debit cards, RTGS, and QRIS as a result of technical advancements. Additionally, Bank Indonesia still encourages the adoption of digital payment methods to speed up, secure, and streamline transactions. The Two Stage Least Squares (TSLS) method is used in this study's simultaneous regression model, which employs secondary data from 2020 to 2024. The findings indicate that while inflation has a positive but negligible impact on the exchange rate, the use of credit cards and RTGS has a considerable positive impact. In the meantime, debit cards and e-money significantly reduce inflation. Inflation is significantly reduced by QRIS and the exchange rate. In order to maintain Indonesia's economic stability, it is crucial to keep enhancing literacy and security when using digital payment methods.

This study uses a qualitative descriptive approach that aims to systematically describe the procedure for purchasing raw materials on credit at PT Bernofarm Pharmaceutical Company. The study focuses on various stages of purchasing, coordination between related departments (such as PPIC, purchasing, QC, warehouse, and accounting), and the use of documents and recording tools such as Microsoft Excel and ERP systems. This study is motivated by the importance of implementing standard purchasing procedures to ensure smooth production processes, accuracy of debt recording, and quality of raw materials. Primary data were obtained through direct observation during internship activities and unstructured interviews with management, especially the accounting department. Meanwhile, secondary data were obtained through a review of relevant literature to strengthen the analysis and discussion. The analysis technique was carried out qualitatively through the process of data reduction, data presentation, and drawing conclusions. The results of the study indicate that the procedure for purchasing raw materials on credit at PT Bernofarm is in line with the principles of internal control based on the COSO framework and meets applicable quality management standards, such as GMP/CPOB and ISO. Each stage from supplier evaluation, quality inspection, to debt repayment shows orderly and documented control. Thus, the procedures implemented support the operational effectiveness and integrity of the company's financial data.

This study examines the transfer of trademark rights as a means of debt settlement in corporate bankruptcy proceedings, using the bankruptcy case of PT Nyonya Meneer as a case study. The main issue addressed is how trademarks, as intangible intellectual property with high economic value, can be used as debt settlement assets during bankruptcy. This research employs a normative legal method with statutory and conceptual approaches, supported by a review of relevant court decisions. The analysis focuses on the relationship between the provisions of Law No. 37 of 2004 on Bankruptcy and Suspension of Debt Payment Obligations and Law No. 20 of 2016 on Trademarks. Trademarks may be transferred or sold to fulfill the debtor's obligations. Theoretical foundations include the Creditors’ Bargain Theory (Thomas H. Jackson) and the principle of wealth maximization (Richard A. Posner), emphasizing collective settlement and asset value optimization. The findings reveal that trademark transfer in bankruptcy is not explicitly regulated, creating a legal gap that affects the effectiveness of debt settlement and the protection of creditors’ rights. In the PT Nyonya Meneer case, the trademark despite its potential as a debt settlement instrument was not utilized optimally. Therefore, direct transfer of trademarks to creditors as a form of debt payment can be seen as an alternative solution, provided it is conducted under the principles of justice, legal certainty, and efficiency. This study recommends further regulation on the management and transfer of intellectual property within the bankruptcy regime to address the challenges of modern business practices.

This research investigates the implementation of stock opname procedures in the General Affair warehouse at PT Bernofarm Pharmaceutical Company, a major pharmaceutical manufacturer. The study responds to the problem of discrepancies in inventory data, which can disrupt operations due to inaccurate recording or delays in documentation. The objective is to analyze the effectiveness and structure of stock opname procedures in controlling non-productive inventory. A qualitative descriptive method was employed, utilizing observation and interviews with Accounting and General Affair warehouse staff to collect primary data. The findings reveal that stock opname at PT Bernofarm is conducted periodically through coordinated stages: scheduling, preparation of inventory data, physical inspection, data reconciliation, reporting, and inventory adjustment. The procedures are carried out collaboratively between the Accounting and General Affair divisions, with clearly defined responsibilities and documentation such as stock cards, credit memos, and goods receipts. Despite a difference in theoretical and practical implementation—where inventory recording is managed by warehouse staff rather than accounting—the presence of functional segregation and supervisory checks ensures effective internal control. The study concludes that a structured and consistent stock opname process improves data accuracy, minimizes discrepancies, and enhances accountability. This research is limited to non-productive inventory in a single company division, and further studies are suggested to explore digital solutions or comparative analyses across industries.

Human resources are the driving force of animal husbandry in Indonesia, because the role of human resources is important and aligned with qualified work skills will create sustainable dairy farms. This Literature Review aims to examine the effect of increasing productivity and sustainability of dairy farms through optimizing human resource management. This study used a systematic review method. After collecting information from 13 SINTA accredited journals and SCOPUS indexed journals, it was found that optimizing human resource management plays an important role in realizing productivity and sustainability of dairy cows, as found in this literature review that empowering farmers by providing training, knowledge and skills is a key factor in increasing production yields that support business sustainability.

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.

This research aims to analyze the optimization of legal protection and risk mitigation for PT ASDP Indonesia Ferry (Persero) as the lender in a Shareholder Loan (SHL) Agreement with PT Indonesia Ferry Properti, and to examine the legal implications of the PT ASDP directors' liability in the SHL decision-making process. The research method employed is normative juridical with a literature study approach. The findings indicate that although the SHL execution has procedurally met legal principles and Good Corporate Governance (GCG), the optimization of legal protection for PT ASDP requires the enhancement of more proactive post-disbursement fund supervision clauses and, crucially, the implementation of specific collateral to mitigate credit risk, considering the current agreement is still reactive and lacks specific collateral. Furthermore, the directors of PT ASDP bear responsibilities under Article 97 of the Company Law and the principle of fiduciary duty. The Business Judgment Rule (BJR) doctrine can shield directors from personal liability if decisions are made in good faith, with due care, without conflicts of interest, and accompanied by risk mitigation efforts, wherein the implementation of GCG principles is fundamental. Violations may lead to civil, criminal, or administrative liability. This research concludes the importance of contractual strengthening of the SHL and strict adherence to GCG to protect company assets and directors.

Article 25 Income Tax (PPh 25) is a tax payment system by taxpayers in the form of monthly installments aimed at alleviating the tax burden at the end of the tax year. This provision applies to both Individual Taxpayers and Entities, and is calculated based on the amount of tax owed in the previous year, reduced by tax credits. PPh 25 plays an important role in maintaining the smooth flow of state revenue and supporting sustainable tax compliance. This paper comprehensively discusses the legal basis, calculation mechanisms, payment timing, and penalties for late payment of PPh 25. This research also examines the effectiveness of PPh 25 in encouraging voluntary compliance and its contribution to state revenue.

This research examines the legal responsibility of corporate guarantors declared bankrupt for their obligations to creditors in loan agreements, analyzing Court Decision No. 318/Pdt.Sus-PKPU/2022/PN Commercial Court Jakarta Central. The study addresses the legal complexities arising when a corporate guarantee becomes insolvent before the principal debtor defaults, creating jurisdictional conflicts between bankruptcy law and guarantee obligations. Using normative legal research methodology with a juridical normative approach, this study analyzes the application of Article 229(2) in conjunction with Article 278(6) of Law No. 37/2004 on Bankruptcy and Suspension of Debt Payment Obligations (K-PKPU) and Article 1381 of the Civil Code. The research reveals that the curator's action in obstructing and rejecting PT KawanCicil Teknologi Utama's claim registration against the bankrupt guarantor without proper judicial determination constitutes conduct not based on applicable laws and regulations. The findings demonstrate that when a guarantor is declared bankrupt and the debtor is in default, the Supervisory Judge and Curator must accept PT KawanCicil Teknologi Utama as a creditor with rights to the debtor's assets during asset liquidation proceedings. The study concludes that bankruptcy declaration of a guarantor does not automatically terminate guarantee obligations under Article 1381 of the Civil Code, as bankruptcy is not enumerated among the causes of contract termination. This research contributes to legal certainty in corporate guarantee enforcement within Indonesia's bankruptcy framework and provides recommendations for legislative harmonization between conflicting provisions in bankruptcy law.

This study examines the legal conflict between workers' wage claims and state tax obligations in bankruptcy proceedings under Indonesian law, focusing on the constitutional imperative to prioritize workers' rights. The Introduction contextualizes the tension between Article 95(4) of the Labor Law, which mandates wage prioritization, and tax legislation granting precedence to state claims, highlighting the landmark Constitutional Court Decision No. 67/PUU-XI/2013 that affirmed workers' constitutional rights to timely wages. Employing a Method of normative legal research, the analysis integrates statutory and case approaches, reviewing laws on bankruptcy (UU No. 37/2004), labor rights, and taxation, alongside judicial decisions and international frameworks like ILO Conventions No. 100 and 111. Results reveal that while the Constitutional Court’s decision established workers’ absolute priority over tax claims, regulatory disharmony persists due to conflicting provisions in the Tax Law (UU KUP) and the 2020 Job Creation Law (UU Cipta Kerja), which ambiguously subordinates tax claims only to secured creditors. Discussion underscores the necessity for legal synchronization to align labor and tax regulations, ensuring compliance with Gustav Radbruch’s principles of legal certainty and Hans Kelsen’s normative hierarchy. The study advocates legislative reforms to codify workers’ priority in bankruptcy, drawing parallels with Malaysia’s Employment Act 1955 and France’s AGS system, which institutionalize wage protection. By addressing regulatory contradictions, Indonesia can harmonize constitutional mandates with fiscal policies, balancing social justice and economic stability.

This research aims to analyze the strengths, weaknesses, opportunities, and threats (SWOT) and find out the marketing strategies that can be carried out by Ibnu Sina Islamic Hospital Simpang Empat. The research method used is descriptive qualitative with a case study approach. Data were collected through observation, interviews with hospital management and staff, and documentation studies. The results of the SWOT analysis showed that Ibn Sina Simpang Empat Islamic Hospital has a strategic location, and has been accredited with 5-star plenary twice. Weaknesses found include not having a complete permanent doctor, not being able to refuse policies from the Regional Government, limited hospital land making it difficult to develop, difficult to make strategic policies related to human resources and finance. medical services that are not updated and others. Opportunities that can be utilized include the many opportunities for cooperation with other companies, the only private general hospital in West Pasaman, a strategic location in the government area, the population of the West Pasaman community of around 441,773, a fairly good community economy, the UHC (Universal Health Coverage) system from the government, and Yarsi branding. Based on the results of the SWOT analysis, this study recommends several strategies to improve the competitiveness of the Ibn Sina Simpang Empat Islamic Hospital, namely with aggressive strategies such as improving financial management, strengthening promotion and marketing, developing the competitiveness of the hospital.

This study provides a comprehensive synthesis of ten SINTA-accredited journal articles (levels 1–3) published from 2019 to 2024, examining how a low-interest-rate policy environment affects corporate capital structure in Indonesia. We focus on internal determinants (profitability, firm size, asset composition) versus external factors (market interest rates) in shaping firms’ debt ratios. The meta-analysis results indicate that although low interest rates statistically encourage higher leverage (average coefficient +0.28), internal firm characteristics remain the dominant drivers of capital structure decisions. Approximately 80% of studies report that more profitable firms tend to reduce debt ratios, consistent with the pecking order theory. In the post-pandemic context, low rates initially facilitated cheap borrowing, but heightened economic uncertainty underscores the need for managers to align funding strategy with each firm’s risk profile. The study draws practical implications: financial managers should calibrate capital structure in line with profitability and market volatility, while regulators should monitor corporate debt growth to safeguard financial stability. The findings also suggest directions for future research on how evolving macroeconomic conditions influence corporate finance in Indonesia.

This study aims to analyze the influence of macroeconomic conditions, capital, and good corporate governance on earnings, financial risk, and yield to maturity bond, with bond rating acting as a moderating variable. The research focuses on banking companies listed on the Indonesian Stock Exchange (IDX). A Quantitative approach with a secondary data from Indonesian Stock Exchange (IDX) and Indonesian Bond Market Directory (IDMB) Purposive sampling method was applied, resulting in 102 active banking bond samples listed on the IDX during the 2020–2023 period. The hypotheses were tested using Structural Equation Modeling with Partial Least Squares (SEM-PLS). Out of 14 proposed hypotheses, 4 were supported with statistically significant results, while the remaining 10 were not. The results show that capital has a significant effect on financial risk, while earnings significantly influence both financial risk and bond yield to maturity. Overall, this study shows that internal factors like earnings and capital have a stronger impact on a company’s risk perception and debt cost than implementation good corporate governance and macroeconomic conditions. It also highlights the important role of bond ratings in reflecting a company’s reputation and credit quality in the banking bond market.

One of the applications of annuities in society is a credit financial instrument. In the credit system there are many risks, so this study is to compare the installment system according to the fastest and longest sample periods in credit with the ordinary annuity method system and maturity, in addition this study aims to see the movement of installments using flat interest and effective interest. The calculation results for a loan of Rp 17,915,000, within 11 months with 24% interest show the largest total interest on the flat interest type of Rp3,941,300 and the smallest total interest on the annuity interest due of Rp1,825,879. Meanwhile, the calculation of the second sample with a loan of Rp17,915,000, within 35 months with an interest of 17.32% obtained the largest total interest on the flat interest type of Rp9,050,055, with the smallest total on the effective interest type of Rp4,339,610, but only slightly different from the total interest on the annuity due of Rp4,347,542. From these results, creditors are advised to choose a credit in a period of 11 months with an annuity due, because the interest paid is much smaller than the 35-month period.

This study discusses the liability of directors for unlawful acts in the form of merging personal assets with corporate assets in the context of bankruptcy of limited liability companies. Although the principle of separation of assets protects the personal assets of directors, there are conditions in which this principle can be revealed through the principle of piercing the corporate veil. The merging of personal assets by directors, which causes losses or bankruptcy of the company, can be held accountable. The Limited Liability Company Law and the Civil Code emphasize that if proven to have committed unlawful acts or negligence in carrying out their duties, directors can be sued in civil court and their assets confiscated as part of the bankruptcy estate. This study applies a normative legal approach and a literature study method to analyze legal norms and the liability of directors for losses due to bankruptcy. The aim is to provide an understanding of the legal liability mechanism for directors who abuse their authority in managing corporate assets. By applying the principle of justice, directors can be held personally responsible for the protection of creditors and fair law enforcement.