Article Per Year (5 Year)
p-Index From 2021 - 2026
0.961
P-Index
This Author published in this journals
All Journal COUNT: Journal of Accounting, Business and Management
Bambang Mahendra Andhika
Manajemen, Universitas Terbuka
Economics, Econometrics & Finance

Published : 6 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 6 Documents
Search

 1 
ANALYSIS OF ENERGY INTENSITY AS A MEANS OF IMPLEMENTING OPERATIONAL AND COST EFFICIENCY TO IMPROVE THE OPERATIONAL AND FINANCIAL PERFORMANCE OF PT TIMAH TBK Sri Suryaningsum; Septi Anggraini Putri; Bambang Mahendra Andhika; Agus Harjanto; Dwiyanjana Santyo Nugroho
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.658

Abstract

This study analyzes the implementation of energy intensity as a measure of operational and cost efficiency at PT Timah Tbk during the 2020–2024 period. Using a quantitative descriptive approach with secondary data from the company’s annual and sustainability reports, this study calculates energy intensity trends and analyzes their relationship with operational cost efficiency and financial performance, proxied by Return on Assets (ROA) and Gross Profit Margin. The results reveal extreme fluctuations in the company’s energy intensity, peaking at 120.27 GJ/ton in 2023—the highest level during the observation period—followed by a significant improvement to 75.40 GJ/ton in 2024. The 134.89% increase in energy intensity in 2021 and the 32.48% increase in 2023 were driven by a decline in production that was not accompanied by a proportional decrease in energy consumption, indicating structural inefficiencies in energy management. Conversely, the 37.32% improvement in energy intensity in 2024 demonstrates the successful implementation of efficiency measures that contributed to the achievement of a profit of Rp 1.19 trillion. These findings highlight the critical relationship between energy intensity management and corporate financial performance, with managerial implications emphasizing the need for sustained investment in energy-saving technologies and the integration of ESG principles into corporate strategy to achieve sustainable competitive advantage.
SUSTAINABILITY FOUNDATION VS. MARKET VOLATILITY: THE ROLE OF ESG IN CREATING LONG-TERM FIRM VALUE AT PT ANTAM TBK Sri Suryaningsum; Tri Zulfian Ibrahim; Kusharyanti; Marita; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.693

Abstract

This study aims to examine the role of Environmental, Social, and Governance (ESG) in enhancing firm value at PT Aneka Tambang Tbk (ANTAM) during the period 2019–2025. The research employs a descriptive quantitative approach using secondary data obtained from sustainability reports, annual reports, and official corporate publications, as well as international standards such as GRI, TCFD, and the OJK Sustainable Finance Roadmap. Firm value is analyzed using two indicators: stock price as a proxy for market value and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) as a proxy for operational performance and economic value. The analysis applies a descriptive-comparative method by linking empirical findings with signaling theory, legitimacy theory, and stakeholder theory. The results indicate that ANTAM’s ESG performance shows a relatively consistent improvement across environmental, social, and governance dimensions, reflected in carbon emission control, energy efficiency, human capital development, and strengthened corporate governance. Although stock prices fluctuate due to external factors and commodity market volatility, the stability and upward trend of EBITDA suggest stronger operational fundamentals. These findings highlight that ESG functions as a long-term value creation foundation, where its impact on market value is not always immediate but accumulates through sustained sustainability practices and improved external conditions.
BURN RATE AND NET BURN RATE: CONCEPT, MEASUREMENT, AND IMPLICATIONS FOR PROFITABILITY Akbar Harisma Ramanda; Sri Suryaningsum; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.725

Abstract

This study aims to explain the concepts of burn rate and net burn rate, the variation of measurement approaches (based on cash inflows–outflows and based on changes in cash balances), and their implications for profitability, especially net profit margin (NPM). This paper employs a scoping literature review method by compiling academic sources, journal articles, and practitioner references commonly used in startup and corporate financial analysis. The findings indicate that: (1) burn rate can be interpreted as “the rate of cash consumption “and is generally categorized into gross burn rate and net burn rate; (2) net burn rate can be calculated using an expense-income approach per period, or using a cash-balance-change approach that divides the difference between beginning and ending cash by the number of periods; (3) net burn rate is closely related to the concept of cash runway, which estimates how long a company can continue operating with its available cash; and (4) conceptually, burn rate may reduce short term profitability, yet in the context of growth investment, spending too little may also hinder performance and long-term sustainability. These findings provide a conceptual foundation for explaining burn rate and net burn rate variables in profitability-related research.
FINANCIAL PERFORMANCE, ENERGY INTENSITY, AND OPERATIONAL EFFICIENCY: A DESCRIPTIVE CASE STUDY PT. AMMAN MINERAL INTERNASIONAL TBK Sri Suryaningsum; Brainy Sabrina Gultom; Ratih Sekar Ratnasari; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 3 No. 3 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v3i3.659

Abstract

This study analyzes changes in energy intensity, operational efficiency, and financial performance at PT Amman Mineral Internasional during the 2020–2024 period and describes their relationship with selected financial performance indicators. The study employs a descriptive quantitative approach using a single case study design. Secondary data were obtained from the company’s annual reports and sustainability reports, complemented by relevant publications from the Ministry of Energy and Mineral Resources, the U.S Energy information administration, and other industry related sources. Energy intensity is measured as energy consumption per ton of copper concentrate produced, while energy output efficiency is assessed using the ratio of output to energy consumption.  The results indicate that energy intensity decreased from 1.25 GJ/ton in 2020 to 1.10 GJ/ton in 2024, representing a cumulative decline of approximately 12.0%. Conversely, the output-to-energy ratio increased from 0.80 ton/GJ to 0.91 ton/GJ, or approximately 13.75%. These changes indicate an improvement in energy productivity during the observation period. Over the same period, the company also experienced changes in net profit, profit margin, and operating costs. However, the descriptive findings do not establish a causal relationship between changes in energy efficiency and financial performance. The results provide empirical evidence of changes in energy productivity and financial performance during the study period and highlight the relevance of energy intensity as an operational efficiency indicator in the mining industry.
CARBON EMISSION ANALYSIS OF PT TOBA BARA SEJAHTERA (TBS) ENERGI UTAMA TBK BASED ON SUSTAINABILITY REPORT Sri Suryaningsum; Pandu Aryoseto; Ratih Sekar Ratnasari; Bambang Mahendra Andhika
Count : Journal of Accounting, Business and Management Vol. 4 No. 1 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v4i1.672

Abstract

This study analyzes carbon emissions of PT Toba Bara Sejahtera (TBS) Energi Utama Tbk during 2020-2022 as a case study of an energy company transitioning from fossil fuels to renewable energy. Using a descriptive qualitative approach with secondary data from sustainability reports, the research reveals a surge in GHG emissions from 230,135 tCO₂eq (2020) to 1,373,012.34 tCO₂eq (2022), a nearly six-fold increase driven by full operation of two 200 MW coal-fired power plants. Emission intensity rose from 1,125.8 to 1,920.8 tCO₂eq per million USD revenue. TBS's reporting practices align with GHG Protocol standards for Scope 1 and 2, but require improved methodological transparency and comprehensive Scope 3 disclosure. The study uncovers an energy transition paradox where long-term decarbonization commitments face short-term emission increases from existing fossil assets. The 2024 divestment of coal power plants is projected to reduce emissions by 85%, marking a transformative phase toward the 2030 carbon neutrality target. This research contributes to Indonesia's sustainability reporting literature and provides decarbonization strategy recommendations for transitioning energy companies.
DETERMINANTS OF CARBON EMISSIONS AND EMISSION INTENSITY IN COAL MINING: EVIDENCE FROM PT ATLAS RESOURCES TBK Sri Suryaningsum; Bianca Lazharies Azzahra; Bambang Mahendra Andhika; Ratih Sekar Ratnasari
Count : Journal of Accounting, Business and Management Vol. 4 No. 1 (2026): COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v4i1.667

Abstract

Coal mining operations are among the major contributors to industrial greenhouse gas emissions, yet empirical studies examining the determinants of carbon emissions and emission intensity at the firm level in Indonesia remain scarce. This study aims to identify the factors influencing carbon emissions and emission intensity through a case study of PT Atlas Resources Tbk. This study adopts a descriptive-comparative case study design based on quantitative content analysis of PT Atlas Resources Tbk’s annual and sustainability reports for 2023–2024, supplemented by literature-based estimates of energy consumption and carbon emissions. The findings show that the company’s carbon emissions increased sharply throughout the study period, primarily driven by production expansion and a high dependence on fossil fuels. This escalation was  accompanied by improvements in energy efficiency or reductions in emission intensity. Weaknesses in governance mechanisms, limited transparency in sustainability reporting, and the absence of a systematic mitigation strategy further exacerbated emission intensity. These results highlight the urgency of strengthening energy governance, implementing efficiency programs, and adopting low-carbon technologies to enhance the environmental performance of coal mining firms. The study provides relevant evidence for policymakers, practitioners, and scholars in understanding emission dynamics within Indonesia’s extractive sector and offers recommendations for more effective carbon management.
Co-Authors Agus Harjanto Akbar Harisma Ramanda Bianca Lazharies Azzahra Brainy Sabrina Gultom Dwiyanjana Santyo Nugroho Kusharyanti Kusharyanti Marita Pandu Aryoseto Ratih Sekar Ratnasari Ratih Sekar Ratnasari Septi Anggraini Putri Sri Suryaningsum Sri Suryaningsum Sri Suryaningsum Sri Suryaningsum Sri Suryaningsum Sri Suryaningsum Tri Zulfian Ibrahim