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Penilaian Kondisi Keuangan Perusahaan Pertelevisian yang Terdaftar di Bursa Efek Indonesia (BEI) Andini, Aulia; Taufik, Nur Imam; Rahman, Abdul; Wijayanti, Reni
Journal of Fundamental Management (JFM) Vol 5, No 2 (2025): JULI 2025
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jfm.v5i2.34633

Perkembangan teknologi yang pesat dan pergeseran pola konsumsi media menghadirkan tantangan signifikan yang berpengaruh pada kinerja keuangan berbagai perusahaan televisi saat ini. Laba bersih dan tingkat utang perusahaan pertelevisian yang terdaftar di Bursa Efek Indonesia (BEI) menunjukkan kondisi yang fluktuatif dan belum mencerminkan stabilitas finansial secara menyeluruh. Tujuan penelitian ini untuk menganalisis kondisi keuangan perusahaan pertelevisian yang terdaftar di Bursa Efek Indonesia melalui model analisis Zmijewski (X-Score), yang melibatkan perhitungan tiga jenis rasio keuangan, yaitu Return On Assets, Debt Ratio, dan Current Ratio.Penelitian ini menggunakan metode kuantitatif deskriptif dengan pengambilan data sekunder, berupa laporan keuangan neraca dan laba rugi perusahaan pertelevisian periode 2019-2024. Hasil penelitian menunjukkan bahwa di antara keenam perusahaan yang dianalisis, hanya MNCN yang berada dalam kondisi keuangan yang benar-benar sehat. Sementara itu, lima perusahaan lainnya, yaitu SCMA, MDIA, NETV, IPTV, dan MSKY, memerlukan perbaikan kinerja keuangan ke depannya. Selain itu, terdapat satu perusahaan televisi yang mencatat kondisi paling tidak sehat selama periode analisis, yaitu NETV pada tahun 2023. Berdasarkan hasil penelitian, perusahaan pertelevisian perlu lebih adaptif terhadap dinamika kondisi ekonomi dan industri untuk menjaga stabilitas bisnis.

PENILAIAN FINANCIAL DISTRESS PADA PERUSAHAAN BADAN USAHA MILIK NEGARA (BUMN) TAHUN 2019-2024 Nur Maulinda, Afifah; Taufik, Nur Imam; Wijayanti, Reni; Kurniawan, Iwan
Journal of Fundamental Management (JFM) Vol 5, No 2 (2025): JULI 2025
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jfm.v5i2.34693

Penelitian ini bertujuan menilai tingkat kesehatan dan mengidentifikasi potensi financial distress pada enam Badan Usaha Milik Negara (BUMN) yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019–2024. Menggunakan metode deskriptif kuantitatif dengan pendekatan studi dokumentasi dan data sekunder, penilaian dilakukan berdasarkan Keputusan Menteri BUMN Nomor KEP-100/MBU/2002 melalui delapan rasio keuangan utama (ROE, ROI, Rasio Kas, Rasio Lancar, Collection Periods, Perputaran Persediaan, TATO, dan Rasio Total Modal Sendiri terhadap Total Aset). Hasil studi menunjukkan dua BUMN sehat, dua kurang sehat, dan dua mengalami financial distress, dengan penurunan tingkat kesehatan terutama dipengaruhi oleh rendahnya rasio profitabilitas dan likuiditas. Penelitian ini juga memberikan rekomendasi strategis bagi BUMN, investor, dan pemerintah untuk peningkatan kinerja keuangan dan pencegahan krisis.

Forecasting Cost Volume Profit dalam Pencapaian Penjualan pada Perum BULOG Periode 2019-2023 Afifa Aini Gezanti; Nur Imam Taufik; Abdul Rahman; Iwan Kurniawan
EKONOMIKA45 : Jurnal Ilmiah Manajemen, Ekonomi Bisnis, Kewirausahaan Vol. 13 No. 1 (2025): Desember : Jurnal Ilmiah Manajemen, Ekonomi Bisnis, Kewirausahaan
Publisher : Fakultas Ekonomi Universitas 45 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30640/ekonomika45.v13i1.4904

Profit planning is an essential component of financial management for state-owned enterprises such as Perum BULOG, which has a strategic role in maintaining national food security and ensuring sustainable financial performance. In this context, the present study aims to analyze the minimum sales volume required by Perum BULOG to avoid losses using Cost-Volume-Profit (CVP) analysis and to develop a combined model that integrates CVP with sales forecasting through the parabola method. This combined approach is expected to provide a more comprehensive foundation for profit planning and strategic decision-making. The research employs a descriptive quantitative approach using secondary data derived from Perum BULOG’s audited financial reports for the 2019–2023 period. CVP analysis includes the computation of Contribution Margin, Break-Even Point (BEP), Margin of Safety (MoS), and Degree of Operating Leverage (DOL), which together illustrate the company’s cost structure and sensitivity to sales fluctuations. Furthermore, sales forecasting with the parabola method is applied to capture historical fluctuation patterns more accurately than linear projections, thereby generating realistic sales targets for future periods. The findings indicate that Perum BULOG consistently achieved sales well above the break-even threshold, with the lowest BEP recorded at IDR 17.68 trillion in 2021 and the highest at IDR 30.36 trillion in 2023. The Margin of Safety rose significantly from 8.65% in 2019 to 34.08% in 2023, reflecting improved resilience against sales downturns. Meanwhile, variations in DOL highlight the degree to which operating profit is sensitive to sales changes. Parabola-based forecasting projects substantial sales growth, reaching IDR 64.71 trillion in 2024 and increasing further to IDR 126.35 trillion in 2026.

Implementing the PIECES Method in Assessing Debtor Satisfaction with SLIK at the Financial Services Authority (OJK) Office Athina Rahmah; Nanda Ravenska; Nur Imam Taufik; Caesar Octoviandy Purba
Innovation Business Management and Accounting Journal Vol. 3 No. 3 (2024): July - September
Publisher : Trescode Green Organization

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56070/ibmaj.2024.032

This study discusses the application of the PIECES method at the OJK Office of West Java Province for debtors named the Financial Information Service System (SLIK). The purpose of this research is to measure the extent of user satisfaction with SLIK and to apply the PIECES method in the satisfaction survey. The author uses a quantitative method by distributing questionnaires using a Likert scale with 24 questions and conducting documentation studies for data collection. The results of this study show validity with a range of values from 0.749 to 0.933, reliability with values from 0.828 to 0.914, and in the PIECES model, the Customer Satisfaction survey was conducted with 110 respondents, indicating a positive and significant impact regarding the application of the PIECES method in the debtor satisfaction survey, with a strong correlation of 93%. The average satisfaction score for SLIK using the PIECES method is 4.19 (satisfied). The findings suggest that this method is suitable for use as a tool for satisfaction surveys on a service system and yields positive results. The researcher recommends ongoing evaluation of SLIK in the form of satisfaction surveys with various methods and direct suggestion boxes as input from users for better system development.

Evaluating Cyber Risk Management in Indonesian SOEs: A Case Study of PT Kereta Api Indonesia Using IT Governance Framework Christin Angelia; Caesar Octoviandy Purba; Nur Imam Taufik; Hafid Aditya Pradesa
ABM: International Journal of Administration, Business and Management Vol 8 No 1 (2025): June 2025 - November 2025
Publisher : LPPM Institut Teknologi dan Sains Mandala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31967/abm.v8i1.1828

Amid the rapid advancement of technology that enhances operational effectiveness and efficiency, cybersecurity risks have simultaneously increased, threatening data security. PT Kereta Api Indonesia (Persero), a state-owned enterprise, experienced a significant data leak incident in 2024, underscoring the urgent need for robust IT governance. This study evaluates the company’s cyber risk management using the IT Governance Theory framework. A qualitative descriptive approach was employed, incorporating observation, in-depth interviews, and document analysis. Findings show that although PT KAI has implemented an Information Security Management System (ISMS) and provided employee training, key challenges persist, including low employee awareness (IT Principles), limited system integration (IT Architecture), and insufficient adoption of emerging technologies (IT Infrastructure). This study proposes a cyber risk management development model based on the five IT Governance domains: IT Principles, IT Architecture, IT Infrastructure, Business Application Needs, and IT Investment and Prioritization. The proposed model aims to strengthen the organization’s ability to identify, detect, respond to, recover from, and adapt to cyber incidents, thereby enhancing IT governance, particularly in the context of Indonesian state-owned enterprises.

Strengthening Regional Agrarian Reform: Policy Assistance and Academic Drafting on Abandoned Land in Pangandaran Regency Achmad Sodik Sudrajat; Riky Rinaldi Maulana; Nur Imam Taufik
TGO Journal of Community Development Vol. 2 No. 2 (2024): July - December
Publisher : Trescode Green Organization

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56070/jcd.v2i2.396

The service project was carried out as part of the efforts made by the Regional Government and DPRD of Pangandaran Regency to handle the issue of abandoned lands due to the lack of regional regulations concerning this matter. The objectives of the program were the strengthening of the capacity of the institutions through policy assistance in the making of the Academic Draft and the Raperda on the Inventory, Utilization and Management of Abandoned Lands. The program took the approach of collaboration and utilized the method of normative-juridical study, field observation, consultation and focus group discussions (FGD) with the involvement of the Regional Government, DPRD, BPN, Regional Agencies, Academics and Community representatives. The result was a well-prepared academic draft which includes philosophical, sociological and juridical foundation. Apart from generating the draft regulation, the program has increased the capacity of local government officials and members of DPRD in evidence-based policy making, increased cross-sectoral coordination, and created a common understanding on sustainable governance of abandoned lands. The Academic Draft serves as the scientific basis for formulating regional regulations and helps in developing an integrated land administration system in Pangandaran District. This community service indicates that policy assistance through participation is capable of improving institutional capacity, collaborative governance, and sustainable policy solutions for optimizing abandoned land management for the benefit of people's well-being and regional development.

Formulating the Regional Regulation Draft of Pangandaran Regency on Optimizing Labor Protection Through Employment Social Security Achmad Sodik Sudrajat; Hafid Aditya Pradesa; Nur Imam Taufik
TGO Journal of Community Development Vol. 3 No. 2 (2025): July - December
Publisher : Trescode Green Organization

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56070/jcd.v3i2.397

This community service and academic policy drafting initiative addresses the critical economic vulnerability of workers in Pangandaran Regency, West Java, where the local labor force is predominantly concentrated in the informal sector, exceeding 96 percent of the total working population. Despite robust national mandates such as Presidential Instruction Number 2 of 2021, local workforce participation in mandatory employment social security remains inadequate, driven by structural constraints, limited financial literacy, and administrative barriers. Utilizing a normative-empirical legal research methodology combined with participatory action research, this project facilitated the systematic formulation of a comprehensive Regional Regulation Draft (Raperda) aimed at optimizing labor protection through BPJS Ketenagakerjaan. The academic and policy intervention successfully established rigorous philosophical, sociological, and juridical frameworks, defining actionable implementation strategies such as aggregator-based community outreach, decentralized socialization, and strict administrative compliance mechanisms linked with public licensing services. Moreover, the initiative incorporates digital transformation paradigms and public sector risk management principles to ensure transparent, accountable, and sustainable administrative delivery. Ultimately, this regulatory framework bridges the persistent social protection gap, mitigates extreme poverty, safeguards vulnerable formal and informal laborers against socioeconomic shocks, and serves as a replicable model for inclusive regional governance across Indonesia.

Analisis Kinerja Keuangan PT Bank Syariah Indonesia Tbk Menggunakan Metode Sharia Conformity and Profitability (SCnP) Periode 2021-2023 Ikhwan Fakhrudin Hidayat; Reni Wijayanti; Nur Imam Taufik
Economics and Digital Business Review Vol. 5 No. 2 (2024)
Publisher : STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/ecotal.v5i2.1562

Tujuan dari penelitian ini adalah untuk mengetahui kinerja keuangan PT Bank Syariah Indonesia Tbk pada tahun 2021-2023 dengan menggunakan teknik Sharia Conformity and Profitability (SCnP). Teknik yang digunakan dalam penelitian ini yaitu kuantitatif deskriptif. Penelitian ini berfokus pada aspek Sharia Conformity PT Bank Syariah Indonesia Tbk, meliputi Islamic Investment Ratio, Islamic Income Ratio, dan Profit Sharing Ratio, serta sisi Profitabilitas yang ditinjau berdasarkan ROA, ROE, dan Profit Margin. Laporan Tahunan BSI dari tahun 2021 sampai dengan 2023, yang tersedia di situs resmi organisasi, menjadi sumber data sekunder dalam proses pengumpulan data. Analisis data menggunakan metode Sharia Conformity and Profitability (SCnP). Temuan studi ini menunjukkan bahwa meskipun kepatuhan syariah tinggi, profitabilitas masih buruk pada tahun 2021, dengan hasil kinerja yang berada di Kuadran Kanan Bawah (LRQ). Pada tahun 2022 berada di Kuadran Kiri Atas (ULQ) mengindikasikan bahwa meskipun kepatuhan syariah masih rendah, namun profitabilitasnya kuat. Lalu di tahun 2023 berada di Kuadran Kanan Atas (URQ) mengindikasikan bahwa kepatuhan syariah dan profitabilitas berada pada tingkat yang tinggi.

Penilaian Kondisi Keuangan Perusahaan Pertelevisian yang Terdaftar di Bursa Efek Indonesia (BEI) Aulia Andini; Nur Imam Taufik; Abdul Rahman; Reni Wijayanti
Journal of Fundamental Management (JFM) Vol. 5 No. 2 (2025): JULI 2025
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jfm.v5i2.34633

Perkembangan teknologi yang pesat dan pergeseran pola konsumsi media menghadirkan tantangan signifikan yang berpengaruh pada kinerja keuangan berbagai perusahaan televisi saat ini. Laba bersih dan tingkat utang perusahaan pertelevisian yang terdaftar di Bursa Efek Indonesia (BEI) menunjukkan kondisi yang fluktuatif dan belum mencerminkan stabilitas finansial secara menyeluruh. Tujuan penelitian ini untuk menganalisis kondisi keuangan perusahaan pertelevisian yang terdaftar di Bursa Efek Indonesia melalui model analisis Zmijewski (X-Score), yang melibatkan perhitungan tiga jenis rasio keuangan, yaitu Return On Assets, Debt Ratio, dan Current Ratio.Penelitian ini menggunakan metode kuantitatif deskriptif dengan pengambilan data sekunder, berupa laporan keuangan neraca dan laba rugi perusahaan pertelevisian periode 2019-2024. Hasil penelitian menunjukkan bahwa di antara keenam perusahaan yang dianalisis, hanya MNCN yang berada dalam kondisi keuangan yang benar-benar sehat. Sementara itu, lima perusahaan lainnya, yaitu SCMA, MDIA, NETV, IPTV, dan MSKY, memerlukan perbaikan kinerja keuangan ke depannya. Selain itu, terdapat satu perusahaan televisi yang mencatat kondisi paling tidak sehat selama periode analisis, yaitu NETV pada tahun 2023. Berdasarkan hasil penelitian, perusahaan pertelevisian perlu lebih adaptif terhadap dinamika kondisi ekonomi dan industri untuk menjaga stabilitas bisnis.

PENILAIAN FINANCIAL DISTRESS PADA PERUSAHAAN BADAN USAHA MILIK NEGARA (BUMN) TAHUN 2019-2024 Afifah Nur Maulinda; Nur Imam Taufik; Reni Wijayanti; Iwan Kurniawan
Journal of Fundamental Management (JFM) Vol. 5 No. 2 (2025): JULI 2025
Publisher : Universitas Mercu Buana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22441/jfm.v5i2.34693

Penelitian ini bertujuan menilai tingkat kesehatan dan mengidentifikasi potensi financial distress pada enam Badan Usaha Milik Negara (BUMN) yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2019–2024. Menggunakan metode deskriptif kuantitatif dengan pendekatan studi dokumentasi dan data sekunder, penilaian dilakukan berdasarkan Keputusan Menteri BUMN Nomor KEP-100/MBU/2002 melalui delapan rasio keuangan utama (ROE, ROI, Rasio Kas, Rasio Lancar, Collection Periods, Perputaran Persediaan, TATO, dan Rasio Total Modal Sendiri terhadap Total Aset). Hasil studi menunjukkan dua BUMN sehat, dua kurang sehat, dan dua mengalami financial distress, dengan penurunan tingkat kesehatan terutama dipengaruhi oleh rendahnya rasio profitabilitas dan likuiditas. Penelitian ini juga memberikan rekomendasi strategis bagi BUMN, investor, dan pemerintah untuk peningkatan kinerja keuangan dan pencegahan krisis.

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