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p-Index From 2021 - 2026
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All Journal Escalate : Economics and Business Journal
Divianto
Sriwijaya State Polytechnic
Economics, Econometrics & Finance

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Preparation of Operational Budget for MSME Tempe Mendoan Ngapak Khas Banyumas Nessa Lestari; Divianto; Agung Anggoro Seto
Escalate : Economics and Business Journal Vol. 4 No. 02 (2026): Escalate: Economics and Business Journal
Publisher : Takaza Innovatix Labs Ltd.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61536/escalate.v4i02.636

Abstract

MSMEs have an important role in the Indonesian economy, but many business actors have not yet prepared a systematic operational budget so that financial planning and control have not run optimally. This study aims to compile and describe the operational budget of MSME Tempe Mendoan Ngapak Khas Banyumas. The study uses a quantitative descriptive approach. The research population is all operational data of MSME Tempe Mendoan Ngapak Khas Banyumas with a sample in the form of sales data for the period 2023 to 2025. Data were collected through observation, interviews, documentation, and literature studies, then analyzed using Microsoft Excel by preparing a budget for sales, production, raw materials, direct labor, factory overhead costs, operational costs, cost of goods sold, and profit and loss. The results of the study show that the 2026 sales target is 2,989 packs with a sales value of Rp53,802,000, cost of goods sold Rp46,429,175, and an estimated net profit of Rp4,972,825. The conclusion of the study shows that the preparation of an operational budget is able to produce more systematic financial planning so that it can be the basis for cost control, setting business targets, and making financial decisions at the Tempe Mendoan Ngapak Khas Banyumas MSME
Financial Distress Analysis of Raw Material Companies at Risk of Delisting on the Indonesia Stock Exchange Lilis Mardiana; Divianto; Agung Anggoro Seto
Escalate : Economics and Business Journal Vol. 4 No. 02 (2026): Escalate: Economics and Business Journal
Publisher : Takaza Innovatix Labs Ltd.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61536/escalate.v4i02.638

Abstract

Financial distress is a condition that needs to be detected early because it can increase the risk of delisting and reduce investor confidence. Raw materials companies are characterized by high capital requirements, making them more vulnerable to financial stress. This study aims to analyze the financial distress conditions of raw materials companies at risk of delisting on the Indonesia Stock Exchange and compare the accuracy levels of the Altman Z-Score, Zmijewski, and Springate methods. This study uses a quantitative approach with descriptive methods. The study population consisted of 13 raw materials companies with the potential for delisting, while the sample was determined using a purposive sampling technique, resulting in five companies for the 2020-2024 period. The research data consisted of secondary financial reports collected through documentation techniques and literature studies. Data analysis was performed using the Altman Z-Score, Zmijewski, and Springate models, along with calculations of accuracy and error type. The results show that the Altman Z-Score method classified three companies as experiencing financial distress, the Zmijewski method produced a more dynamic classification, while the Springate method identified almost all companies as experiencing financial distress. The research conclusion shows that the Altman Z-Score method has the highest average accuracy rate of 80%, making it the most suitable method for detecting financial distress in raw material sector companies at risk of delisting
Co-Authors Agung Anggoro Seto Lilis Mardiana Nessa Lestari