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ANALISIS PERBANDINGAN FINANCIAL DISTRESS METODE ALTMAN DAN SPRINGATE SEBAGAI PERINGATAN DINI KESULITAN KEUANGAN Musa Fernando Silaen; Marisi Butarbutar; Christine Dewi Nainggolan
JPIM (Jurnal Penelitian Ilmu Manajemen) Vol 5, No 2 (2020): JPIM (JURNAL PENELITIAN ILMU MANAJEMEN)
Publisher : Universitas Islam Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30736/jpim.v5i2.335

Tujuan penelitian untuk menganlisis perbandingan tingkat kesulitan keuangan pada PT Hero Supermarket, Tbk melalui metode Altman dan metode Springate. Dari hasil analisis diketahui kondisi keuangan dalam zona abu-abu berdasarkan metode Altman, sedangankan hasil dengan metode Springate perusahaan masuk dalam kategori berpotensi bangkrut. Dimana memakai Springate lebih menunjukkan tingkat akurasi dalam menilai kebangkrutan. Terjadinya financial distress dengan metode Altman disebabkan PT Hero Supermarket, Tbk tidak efisien dalam mengelola total aset yang ada untuk menghasilkan laba ditahan sehingga saldo laba ditahan perusahaan mengalami penurunan yang diakibatkan kerugian, sedangkan dengan metode Springate menunjukkan tidak mampunya perusahaan dalam memenuhi kewajiban jangka pendeknya melalui laba sebelum pajak. Hasil penelitian ini menyarankan untuk menghindari kerugian terus menerus sebaiknya PT Hero Supermarket, Tbk sebaiknya melakukan efisiensi biaya atau pengeluaran dan mengelola aset yang ada dengan maksimal agar dapat meningkatkan laba melalui penjualan The purpose of research is to in order to have a comparison of financial difficulties in PT Hero Supermarket, TBK through Altman method and Springate method. From the analysis results of known financial conditions in the gray zone based on the Altman method, while the results with the method of Springate companies entered in a potentially bankrupt category. Where to wear Springate more shows the level of accuracy in assessing bankruptcy. The occurrence of financial distress with the method of Altman because PT Hero Supermarket, TBK is not efficient in managing total existing assets to generate a retained profit so that the retained earnings of the company suffered a decline due to losses, whereas by the Springate method indicates the company's inability to fulfill its short term obligations through a profit before tax. The results of this research suggest to avoid the continuous loss of PT Hero Supermarket, Tbk, preferably cost efficiency or expense and manage existing assets to the fullest in order to increase profits through sales

Pengukuran Kinerja Pengurus Credit Union (CU) Melalui Kompetensi Pada Wilayah Dataran Tinggi di Bawah Naungan Puskopdit Bekatigade Sumatera Utara Marisi Butarbutar; Efendi Efendi; Musa Fernando Silaen; Acai Sudirman
JMK (Jurnal Manajemen dan Kewirausahaan) Vol 6 No 1 (2021): Januari
Publisher : Universitas Islam Kadiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32503/jmk.v6i1.1042

The purpose of this research is to study, analyze and study the competencies and performance of the board, and improve competency towards the board's performance. Research on 109 administrators of the Credit Union (CU) in the Highlands Region under the PUSKOPDIT Bekatigade. Data were analyzed with qualitative and quantitative descriptive analysis. The results of the study were obtained from competence and good performance, and were positive results of competence on the management's performance. Tujuan dari penelitian ini adalah untuk mengetahui, menganalisis dan mengkaji secara mendalam tentang kompetensi dan kinerja pengurus, dan besarnya pengaruh kompetensi terhadap kinerja pengurus. Penelitian pada 109 pengurus Credit Union (CU) Wilayah Dataran Tinggi di Bawah Naungan Pusat Koperasi Kredit (PUSKOPDIT) Bekatigade Sumatera Utara. Data dianalisis dengan analisis deskriptip kualitatif dan kuantitatif. Hasil penelitian diperoleh bahwa kompetensi dan kinerja sudah baik, dan terdapat pengaruh yang positif dari kompetensi terhadap kinerja pengurus.

PENGARUH PERPUTARAN KAS, PERPUTARAN PIUTANG DAN PERPUTARAN PERSEDIAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN SUB SEKTOR OTOMOTIF DAN KOMPONEN YANG TERDAFTAR DI BURSA EFEK INDONESIA Wisnu Wardana; Jubi Jubi; Ady Inrawan; Musa Fernando Silaen
JURNAL AKUNTANSI FINANCEIAL STIE SULTAN AGUNG Vol 5, No 1 (2019): Juni
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

The results of this study can be summarized as follows, the average CTO tends to decrease, the average RTO tends to increase, the average ITO tends to decrease and the average ROA tends to decrease. The results of testing multiple linear regression are known that Cash Turnover and Inventory Turnover have a positive effect while Accounts Receivable has a negative effect on profitability in Automotive and Component Sub-Sector Companies listed on the Indonesia Stock Exchange. The correlation coefficient test results have a low relationship between Cash Turnover, Accounts Receivable Turnover and Inventory Turnover with profitability. While the coefficient of determination (R Square) states profitability is influenced by Cash Turnover, Accounts Receivable Turnover and Inventory Turnover. Cash Turnover, Receivable Turnover and Inventory Turnover have no significant effect on profitability partially. Cash Turnover, Receivable Turnover and Inventory Turnover have no significant effect on profitability simultaneously The suggestions for company in this research is that companies should optimize asset management, companies should maintain and improve cash turnover, accounts receivable turnover and inventory turnover in order to increase company profits Keywords: Cash Turnover, Receivable Turnover, Inventory Turnover and Profitability

PERBANDINGAN FINANCIAL DISTRESS PADA PT LIPPO CIKARANG, Tbk DAN PT BUKIT DARMO PROPERTY, Tbk DENGAN MENGGUNAKAN METODE SPRINGATE Pita Merlin Marpaung; Elly Susanti; Christine Dewi Nainggolan; Musa Fernando Silaen
JURNAL AKUNTANSI FINANCEIAL STIE SULTAN AGUNG Vol 5, No 2 (2019): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/financial.v5i2.111

Tujuan dari penelitian ini adalah untuk mengetahui gambaran dan faktor yang menyebabkan perbedaan financial distress pada PT Lippo Cikarang, Tbk dan PT Bukit Darmo Property, Tbk dengan menggunakan metode Springate. Penelitian ini menggunakan data kualitatif dan kuantitatif. Teknik Pengumpulan data dilakukan dengan metode dokumentasi. Sumber data yang digunakan adalah data sekunder yang diperoleh dari situs resmi Bursa Efek Indonesia www.idx.co.id. Teknik analisis data yang digunakan adalah analisis deskriptif kualitatif dan analisis komparatif. Hasil penelitian ini menyimpulkan bahwa PT Lippo Cikarang, Tbk diindikasikan perusahaan tidak bangkrut (sehat) sedangkan PT Bukit Darmo Property, Tbk diindikasikan perusahaan sedang menghadapi ancaman kebangkrutan dan faktor modal kerja bersih yang bernilai negatif disebabkan oleh penurunan persediaan dan penjualan yang bersumber dari penjualan tanah industri, tanah komersial, rumah toko dan adanya peningkatan beban pokok penjualan disebabkan oleh perubahan variasi produk menyebabkan perbedaan financial distress perusahaan. Hasil penelitian ini menyarankan sebaiknya PT Lippo Cikarang, Tbk dan PT Bukit Darmo Property, Tbk meningkatkan pengelolaan aset untuk meningkatkan penjualan atau pendapatan dan meningkatkan laba yang merupakan indikator dalam mencari nilai Springate.Kata kunci: Financal Distress, Metode Springate

LAPORAN ARUS KAS UNTUK MENILAI KINERJA KEUANGAN PADA PT KALBE FARMA, Tbk YANG TERDAFTAR DI BURSA EFEK INDONESIA Misseri Yolanda Sitohang; Yansen Siahaan; Astuti Astuti; Musa Fernando Silaen
JURNAL AKUNTANSI FINANCEIAL STIE SULTAN AGUNG Vol 5, No 2 (2019): Desember
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/financial.v5i2.107

Tujuan dari penelitian ini adalah untuk mengetahui gambaran laporan arus kas dan kinerja keuangan dan untuk mengetahui faktor-faktor yang menyebabkan kinerja keuangan PT Kalbe Farma, Tbk yang terdaftar di Bursa Efek Indonesia yang menggunakan analisis rasio arus kas cenderung mengalami peningkatan. Penelitian ini dilakukan dengan menggunakan metode analisis deskriptif kualitatif dan analisis induktif. Jenis data yang digunakan dalam penelitian ini adalah data kualitatif dan kuantitatif. Sumber data yang digunakan adalah data sekunder. Hasil penelitian ini disimpulkan bahwa kinerja keuangan yang diukur menggunakan rasio arus kas operasi terhadap kewajiban lancar, rasio arus kas operasi terhadap pengeluaran modal, rasio arus kas operasi terhadap total utang dan rasio arus kas operasi terhadap laba bersih cenderung meningkat. Faktor peningkatan penerimaan kas dari pelanggan, penurunan utang bank jangka pendek dan liabilitas pajak tangguhan serta peningkatan pembelian aset tetap dan penjualan neto yang menyebabkan peningkatan kinerja keuangan.Kata kunci: Laporan Arus Kas, Kinerja Keuangan

Pengaruh Lokasi Terhadap Kepuasan Konsumen Pada Kedai Kopi Baravi Pematangsiantar Darwin Lie; Marisi Butarbutar; Sudung Simatupang; Efendi Efendi; Henny Agustina Damanik; Musa Fernando Silaen
Strategic: Journal of Management Sciences Vol 1 No 2 (2021): Strategic: Journal of Management Sciences
Publisher : Program Pascasarjana (S2-Ilmu Manajemen) Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Objective. Kedai Kopi Baravi Pematangsiantar merupakan salah satu usaha dagang khususnya produk minuman. Salah satu produk yang ditawarkan adalah minuman yang berbaur dengan kopi hitam dan sekaligus menjadi fokus produk pada penelitian ini, hal ini dikarenakan produk yang ditawarkan pada Kedai Kopi Baravi Pematangsiantar sebagian besar adalah produk yang berbaur dengan kopi hitam dan juga karena sebagian besar pengunjung Kedai Kopi Baravi adalah laki - laki yang menyukai produk yang berbaur dengan kopi hitam. Tujuannya yaitu untuk memenuhi gaya hidup masyarakat pada zaman sekarang, dimana masyarakat lebih senang menghabiskan waktu luangnya untuk mengunjungi kafe yang dapat membuat konsumen merasa nyaman. Untuk segmen dalam menarik konsumen Kedai Kopi Baravi Pematangsiantar berupaya untuk menciptakan kualitas produk yang baik dan memberikan lokasi yang baik juga agar mendapatkan kepuasan konsumen. Research Methods. Lokasi dilakukan di Kedai Kopi Baravi Pematangsiantar. Populasi dalam penelitian ini adalah pelanggan yang berkunjung ke Kedai Kopi Baravi Pematangsiantar pada bulan April sebanyak 70 orang dimana seluruh populasi menjadi sampel. Results. Hasil penelitian ini dapat disimpulkan lokasi dan kepuasan konsumen sudah baik. Selanjutnya, terdapat pengaruh positif antara Lokasi terhadap kepuasan konsumen Kedai Kopi Baravi Pematangsiantar. Kemudian, terdapat hubungan yang sedang dan positif antara lokasi terhadap kepuasan konsumen. Selain itu, lokasi berpengaruh positif dan signifikan terhadap kepuasan konsumen Kedai Kopi Baravi Pematangsiantar secara parsial. Conclusion. Hasil analisis deskriptif kualitatif menunjukkan lokasi sudah baik. Kemudian nilai rata-rata tertinggi pada dimensi Akses untuk indikator jarak lokasi dengan masyarakat. Sedangkan nilai rata-rata terendah pada dimensi Tempat parkir untuk indikator kondisi tempat parkir.

Pengaruh Kualitas Pelayanan dan Fasilitas Kesehatan Terhadap Kepuasan Pasien BPJS Pada RSU Mina Padi Kabupaten Simalungun Efendi Efendi; Marisi Butarbutar; Loist Abdi Putra; Musa Fernando Silaen; Arrum Yolandra Yolandra
Strategic: Journal of Management Sciences Vol 2 No 1 (2022): Strategic: Journal of Management Sciences
Publisher : Program Pascasarjana (S2-Ilmu Manajemen) Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Objective. The purposes of this research are: 1) To describe the quality of service, health facilities and satisfaction of BPJS patients at Mina Padi General Hospital, Simalungun Regency. 2) To determine the effect of service quality and health facilities on BPJS patient satisfaction at Mina Padi General Hospital, Simalungun Regency, either simultaneously or partially. Research Methods. The research design used in this research is library research and field research. Data collection techniques used in this research are questionnaire method, interview method and documentation method. Results. The results of the study can be concluded as follows: Service quality, health facilities are good, and patient satisfaction is also categorized as good. The results of the regression analysis are = 7.407 + 0.378 X1 + 0.364 X2, meaning that the quality of services and health facilities has a positive and significant effect on patient satisfaction. 3) The results of the correlation analysis obtained a value of r = 0.794, meaning that there is a strong and positive relationship between the quality of services and health facilities and patient satisfaction. The value of the coefficient of determination R = 0.631 means that the level of patient satisfaction can be explained by the quality of services and health facilities of 63.1%. The research hypothesis H0 is rejected, meaning that the quality of services and health facilities has a positive and significant effect on BPJS patient satisfaction at Mina Hospital in Simalungun Regency, either simultaneously or partially. Conclusion. To create a good quality of service, Mina Padi General Hospital in Simalungun Regency should increase the number of inpatient rooms so that sick patients can be treated immediately and receive incentive treatment from medical personnel. To improve health facilities at Mina Padi General Hospital, Simalungun Regency, it is better to increase the number of specialist doctors so that patients who need treatment can be handled immediately. And so that patients feel comfortable, the hospital should be able to overcome the smell of waste. To create patient satisfaction, it is recommended that Mina Padi Hospital, Simalungun Regency, need to increase the supply of medicines needed by BPJS patients.

Determinants of Liquidity, Profitability, Debt Policy, and Dividend Policy towards The Recovery of Sharia Stock Company Value Musa Fernando Silaen; Supitriyani
INTERNATIONAL JOURNAL OF TRENDS IN ACCOUNTING RESEARCH Vol. 3 No. 2 (2022): International Journal of Trends in Accounting Research (IJTAR)
Publisher : Asosiasi Dosen Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar

The purpose of this study is to find out the picture of liquidity, profitability, debt policy, dividend policy and company value, as well as to determine the determination between liquidity, profitability, debt policy, dividend policy in recovering company value both simultaneously and partially. This research uses qualitative descriptive analysis methods as well as quantitative descriptive analysis. Hypothesis test with simultaneous test (Test F), the results were obtained that liquidity, profitability, debt policy and dividend policy have a significant effect on the company's value in the Jakarta Islamic Index Company. Hypothesis test with partial test (Test t), it was obtained that liquidity and debt policy have an insignificant effect on company value, while profitability and dividend policy have an effect and significantly affect the company's value on the Jakarta Islamic Index. Companies should be able to pay attention to the company's ability to generate profits and optimize the use of external financing (debt management) and the company should be more optimal in distributing profits to shareholders or saving profits owned to invest them in the future. In addition, companies should also better understand business conditions such as the company's strengths and opportunities to make a profit and be able to increase the value of the company in the future.

The Existence of Women's Entrepreneurship in the VUCA Era: Analyzing The Role of Socio-Cultural Support System and Financing on MSMEs Yerisma Welly; Musa Fernando Silaen; Debi Eka Putri; Martin Yehezkiel Sianipar
Ilomata International Journal of Management Vol 4 No 4 (2023): October 2023
Publisher : Yayasan Ilomata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52728/ijjm.v4i4.893

The challenge for MSMEs in the digital era is the emergence of Volatility, Uncertainty, Complexity, and Ambiguity or VUCA, so that the role of socio-cultural support systems and relevant financing is needed for MSMEs, especially those based on women's entrepreneurship. This study aims to analyze how the role of the socio-cultural support system and financing in the development of women entrepreneurship-based MSMEs. This research is quantitative with survey method. Research data were collected through interviews; focus group discussions (FGDs); and surveys of respondents of women entrepreneurship-based MSMEs. Based on the research results, it is known that women entrepreneurship MSMEs can face the VUCA era through the role of the socio-cultural support system, especially dimension_a and dimension_b in developing their business. Then, there is also the role of the financing support system, namely dimension_a and dimension_b. The existence of MSME development supported by the role of the socio-cultural support system and financing will improve the economic conditions of MSME actors in a sustainable manner, even in the VUCA era.

The Existence of Women's Entrepreneurship in the VUCA Era: Analyzing The Role of Socio-Cultural Support System and Financing on MSMEs Welly, Yerisma; Silaen, Musa Fernando; Putri, Debi Eka; Sianipar, Martin Yehezkiel
Ilomata International Journal of Management Vol. 4 No. 4 (2023): October 2023
Publisher : Yayasan Ilomata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52728/ijjm.v4i4.893

The challenge for MSMEs in the digital era is the emergence of Volatility, Uncertainty, Complexity, and Ambiguity or VUCA, so that the role of socio-cultural support systems and relevant financing is needed for MSMEs, especially those based on women's entrepreneurship. This study aims to analyze how the role of the socio-cultural support system and financing in the development of women entrepreneurship-based MSMEs. This research is quantitative with survey method. Research data were collected through interviews; focus group discussions (FGDs); and surveys of respondents of women entrepreneurship-based MSMEs. Based on the research results, it is known that women entrepreneurship MSMEs can face the VUCA era through the role of the socio-cultural support system, especially dimension_a and dimension_b in developing their business. Then, there is also the role of the financing support system, namely dimension_a and dimension_b. The existence of MSME development supported by the role of the socio-cultural support system and financing will improve the economic conditions of MSME actors in a sustainable manner, even in the VUCA era.

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