Nihlatul Qudus Sukma Nirwana
Program Studi Akuntansi, Universitas Muhammadiyah Sidoarjo

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Governance and Risk Management in Sharia Banks and Financial Performance: Tata Kelola dan Manajemen Risiko di Bank Syariah dan Kinerja Keuangan Wardatul Jaziroh; Nihlatul Qudus Sukma Nirwana
Indonesian Journal of Law and Economics Review Vol. 19 No. 4 (2024): November
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v19i4.1171

Abstract

General Background: The financial performance of Sharia commercial banks is crucial for Indonesia's economic growth. Specific Background: This study explores the impact of Good Corporate Governance (GCG), Internal Audit, and Risk Management on the financial performance of Sharia banks, particularly after the enactment of Law No. 21 of 2008. Knowledge Gap: Existing literature shows mixed results regarding the effects of these governance factors, indicating a need for comprehensive analysis in the context of Sharia banking. Aims: The research aims to assess how GCG, Internal Audit, and Risk Management affect financial performance from 2018 to 2021. Results: Analysis of 44 Sharia banks reveals that while Internal Audit negatively affects performance, GCG and Risk Management have significant positive impacts. Novelty: This study introduces a thorough examination of Risk Management alongside GCG and Internal Audit, enhancing the understanding of their roles in Sharia banking. Implications: Findings highlight the importance of strengthening governance frameworks in Sharia banks to improve financial performance, providing insights for investors and policymakers. Highlights: Good Corporate Governance and Risk Management significantly enhance financial performance in Sharia banks. Internal Audit shows a negative impact on the financial performance, emphasizing the need for effective implementation. The study addresses a gap in literature by examining the interplay of GCG, Internal Audit, and Risk Management in the Sharia banking sector. Keywords: Good Corporate Governance, Internal Audit, Risk Management, Financial Performance, Sharia Banks
Job Order Costing Uncovers Gamelan Craft Cost of Goods Manufactured: Job Order Costing Mengungkap Harga Pokok Produksi Kerajinan Gamelan Rosi Assariyu Saqoty; Nihlatul Qudus Sukma Nirwana
Indonesian Journal of Law and Economics Review Vol. 21 No. 3 (2026): Agustus
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i3.1715

Abstract

General Background: Micro, Small, and Medium Enterprises (MSMEs) drive the Indonesian economy, including traditional gamelan crafts. Specific Background: Jatirejo Gamelan MSME in Nganjuk sets made-to-order prices using market benchmarks without calculating the Cost of Goods Manufactured (COGM). Knowledge Gap: Unlike previously studied businesses with sales records, this MSME lacks cost records, deletes digital order histories, and mixes production and household electricity. Aims: This qualitative case study determines the COGM using Job Order Costing and evaluates profit margins. Results: For one Jaranan gamelan set, COGM is IDR 5,511,638 (IDR 4,196,000 raw materials, IDR 1,270,000 direct labor, and IDR 45,638 overhead). Against the IDR 13,800,000 market price, the unplanned profit margin is IDR 8,288,362 (60.06%), avoiding current under-costing but remaining vulnerable without cost control. Novelty: This study reconstructs order costs and hidden overhead for an unrecorded craft MSME. Implications: Adopting job order cost cards establishes sustainable pricing. Highlights: Calculating raw materials, direct labor wages, proportional electricity, and machine depreciation yields a total production expenditure reaching IDR 5,511,638 per musical instrument set. Comparing the IDR 13,800,000 market-driven selling price against actual production expenses reveals an unplanned gross profit margin reaching IDR 8,288,362 or 60.06%. Operating without permanent transaction archives or separated household utility bills leaves the micro enterprise vulnerable to future pricing errors during material price fluctuations. Keywords: Cost Accounting, Cost Of Goods Manufactured, Job Order Costing, Profit Margin, Gamelan MSME