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All Journal Indonesian Journal of Law and Economics Review
Heri Widodo
Program Studi Akuntansi, Universitas Muhammadiyah Sidoarjo, Indonesia
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice

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SAK EMKM Adoption in Online Shop Financial Recordkeeping: Penerapan SAK EMKM dalam Pencatatan Keuangan Toko Online Ridha Tuahta Maharany Munthe; Heri Widodo
Indonesian Journal of Law and Economics Review Vol. 20 No. 3 (2025): August
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i3.1469

Abstract

General Background: Micro, Small, and Medium Enterprises play a central role in Indonesia’s economy and require reliable financial reporting to support sustainability. Specific Background: Many MSMEs, including online-based businesses, still apply simple cash-based records that do not follow accounting standards. Knowledge Gap: Empirical evidence on SAK EMKM-based financial recordkeeping in small online manufacturing businesses remains limited. Aims: This study examines accounting practices at Elmeera Hijab Online Shop and evaluates financial records aligned with SAK EMKM. Results: The findings show that existing records were limited to cash inflows and outflows and lacked structured financial statements; after adjustment, statements of financial position, income statements, and notes were prepared. Novelty: This study presents a contextual case of SAK EMKM application in an online shop with manufacturing activities. Implications: The results provide practical guidance for MSMEs to improve financial reporting quality and decision-making through structured SAK EMKM implementation. Keywords: SAK EMKM, Financial Recordkeeping, MSMEs, Online Shop Accounting, Financial Statements Key Findings Highlights: Financial records were initially limited to basic cash transactions. Structured statements were prepared following SAK EMKM guidelines. Human resource limitations constrained formal accounting practices.
Bankruptcy Risk Classification of Plastic and Packaging Firms on the IDX: Klasifikasi Risiko Kebangkrutan Perusahaan Plastik dan Kemasan di Bursa Efek Indonesia (IDX) Fani Ismidiyah; Heri Widodo
Indonesian Journal of Law and Economics Review Vol. 20 No. 3 (2025): August
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i3.1473

Abstract

General Background Financial distress remains a critical issue for manufacturing firms, particularly in sectors facing regulatory and economic pressure. Specific Background Plastic and packaging subsector companies listed on the Indonesia Stock Exchange experienced financial dynamics during 2020–2022 amid economic disruption and recovery. Knowledge Gap Limited empirical studies focus on bankruptcy risk classification within this subsector using updated post-pandemic financial data. Aims This study aims to analyze the potential bankruptcy condition of plastic and packaging subsector companies listed on the IDX during 2020–2022 using the Altman Z-Score model. Results The findings show that several companies consistently remained in the safe zone, while others persistently fell into the bankruptcy zone, and some demonstrated gradual financial recovery across the observation period. Novelty This research provides updated evidence on bankruptcy risk patterns in the plastic and packaging subsector during a critical economic period using the Altman Z-Score approach. Implications The results offer practical insights for corporate management, investors, and stakeholders to monitor financial health and apply early warning mechanisms for bankruptcy prevention. Keywords: Altman Z-Score, Bankruptcy Risk, Financial Ratios, Plastic and Packaging Subsector, Indonesia Stock Exchange Key Findings Highlights: Financial conditions across firms varied significantly during the 2020–2022 period Several companies showed persistent financial distress across three consecutive years Early detection using ratio-based models supports strategic financial monitoring
Financial Ratios and Stock Prices in Food Beverage Firms: Rasio Keuangan dan Harga Saham di Perusahaan Makanan dan Minuman Nadiyatus Setia Ningrum; Heri Widodo
Indonesian Journal of Law and Economics Review Vol. 20 No. 3 (2025): August
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v20i3.1478

Abstract

General Background Stock prices are widely used as indicators of firm value in capital markets and reflect investor assessments of corporate financial performance. Specific Background In Indonesia, food and beverage companies represent a growing manufacturing sector that attracts investors due to stable demand and continuous expansion. Knowledge Gap Previous studies report inconsistent findings regarding the role of earnings per share, debt structure, and equity returns in explaining stock price movements, particularly across different periods and sectors. Aims This study aims to examine the relationship between Earning Per Share, Debt to Equity Ratio, and Return on Equity on stock prices of food and beverage companies listed on the Indonesia Stock Exchange during 2019–2023. Results Using multiple linear regression on secondary data from selected firms, the findings indicate that Earning Per Share shows a significant positive relationship with stock prices, while Debt to Equity Ratio also demonstrates a significant association. Return on Equity displays a positive but not consistently significant relationship. Novelty The study provides updated empirical evidence by focusing on a specific industrial sector and a recent observation period. Implications The results highlight the importance of profitability and capital structure indicators as key considerations for investors and corporate management in evaluating stock price dynamics. Keywords: Earning Per Share,Debt to Equity Ratio,Return on Equity,Stock Price,Indonesia Stock Exchange Key Findings Highlights: Profit per share demonstrates a strong statistical relationship with market valuation. Leverage structure is closely associated with investor assessment in the observed sector. Equity return shows varying relevance across firms and periods.
Co-Authors Fani Ismidiyah Nadiyatus Setia Ningrum Ridha Tuahta Maharany Munthe