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All Journal Pendas : Jurnah Ilmiah Pendidikan Dasar MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Masrullah
Universitas Muhammadiyah Makassar
Economics, Econometrics & Finance Other

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Penerapan Konsep Model Altman Z-Score Modifikasi dalam Menilai Kualitas Laporan Keuangan Perusahaan PT Wijaya Karya (Persero) Tbk (WIKA) Nurul Hilmi; Muhammad Rusydi; Masrullah
MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis Article in Press
Publisher : LP3M INSTITUT KH YAZID KARIMULLAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59246/8a026g85

Abstract

Corporate financial health constitutes a crucial indicator of business sustainability, particularly in construction companies that face liquidity pressures and substantial financing requirements. An assessment of the financial condition of PT Wijaya Karya (Persero) Tbk during the 2022–2024 period was conducted using the Modified Altman Z-Score model to identify its financial health status and the likelihood of financial distress. This research employed a descriptive quantitative approach based on secondary data derived from the company’s annual financial statements. The findings reveal that the company consistently remained within the financial distress category throughout the observation period, as its Z-Score values continuously fell below the critical danger-zone threshold. The financial trajectory exhibited a U-shaped pattern, beginning with a fragile early-warning phase before deteriorating sharply into negative territory due to working capital deficits and substantial operating losses. Signs of improvement emerged in the final year of observation, supported by enhanced liquidity resulting from the successful restructuring of short-term liabilities. Nevertheless, a complete recovery has yet to be achieved because of the expanding retained earnings deficit generated by accumulated historical losses. These findings underscore the importance of fundamental restructuring measures and stronger capital management strategies to ensure the company’s long-term financial sustainability.
PERAN COST CONTROL DAN VARIANCE ANALYSIS TERHADAP KINERJA SEKRETARIAT DPRD KABUPATEN GOWA Syamsuriani; Mira; Masrullah
Pendas : Jurnal Ilmiah Pendidikan Dasar Vol. 11 No. 02 (2026): Volume 11 No. 2, Juni 2026 Publish
Publisher : Program Studi Pendidikan Guru Sekolah Dasar FKIP Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jp.v11i02.48753

Abstract

This study aims to analyze the influence of Cost Control and Variance Analysis on the Performance of the Secretariat of the Regional House of Representatives (DPRD) of Gowa Regency. This research employed a quantitative approach using explanatory research design. Primary data were collected through questionnaires distributed to employees of the DPRD Secretariat of Gowa Regency. The research sample consisted of 31 respondents selected using the saturated sampling technique. Data analysis methods included descriptive statistical analysis, validity and reliability tests, classical assumption tests, multiple linear regression analysis, and hypothesis testing using SPSS for Windows 24.0. The results indicate that the Cost Control variable does not have a significant effect on organizational performance, with a regression coefficient of -0.164 and a significance value of 0.348 (> 0.05). This finding suggests that the implementation of cost control has not been able to provide a meaningful impact on improving organizational performance, as budget management is still more oriented toward administrative compliance than toward performance effectiveness. Meanwhile, the Variance Analysis variable has a positive and significant effect on performance, with a regression coefficient of 0.498 and a significance value of 0.016 (< 0.05). This finding indicates that the better the variance analysis process, the better the organizational performance. The coefficient of determination (Adjusted R²) of 0.140 indicates that 14% of the variation in performance can be explained by the two independent variables. This study implies that public sector organizations need to optimize variance analysis as a strategic decision-making tool in budget evaluation to improve organizational performance effectiveness.
Co-Authors Mira Mira Muhammad Rusydi Nurul Hilmi Syamsuriani