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All Journal Economics and Digital Business Review Buletin Poltanesa Al Dzahab Jurnal Pengabdian Kolaborasi dan Inovasi IPTEKS Indonesian Journal of Advanced Research (IJAR)
Icha Mustamin
Politeknik Indonesia
Agriculture, Biological Sciences & Forestry Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Social Sciences

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Between Logic of Blessing and Accounting Rationality: Financial Reporting Formalization Process in a Sharia Property Developer Icha Mustamin; Alimuddin; Darwis Said
Poltanesa Vol 26 No 2 (2025): December 2025
Publisher : P3KM Politeknik Pertanian Negeri Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51967/tanesa.v26i2.3607

Abstract

This research explores the meaning of accountability and the fundamental challenges arising during the transition from a manual reporting system to a formal accounting system in a non-bank Islamic property developer. Utilizing a qualitative approach with an in-depth design, the researcher served as a participant-observer for over five months at PT. Pandawa Lima Development in South Sulawesi. Data collection involved triangulation of semi-structured interviews, participant observations, and document analysis to ensure validity. The findings identify the existence of a "logic of blessing" as the dominant rationality replacing conventional market logic, manifested in the owner's migration story and the company's ability to survive three years without sales, interpreted as divine help. The formalization challenge was not merely technical but an intensive sense-making process to translate intuition-based practices into an inflexible account code structure. The study highlights that accounting formalization in this context is a negotiation between spiritual values and technical rigidity. This research contributes to the literature by providing bottom-up empirical data on accounting practices in non-banking Islamic entities and offers practical insights for integrating spiritual values into formal reporting systems without eroding the organization's unique ethos.  
Comparative Analysis of the Residual Income Valuation Model and the Dividend Discounting Model in Predicting Stock Prices of LQ45 Companies Icha Mustamin; Amiruddin; Darmawati; Endang Sriningsih
Indonesian Journal of Advanced Research Vol. 5 No. 5 (2026): May 2026
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v5i5.16520

Abstract

This study aims to analyze and compare the effectiveness of the Residual Income Valuation (RIV) model and the Dividend Discount Model (DDM) in predicting stock prices for companies listed on the LQ45 index of the Indonesia Stock Exchange. Changes in dividend policies and market uncertainty in Indonesia necessitate the use of accurate valuation models for investors and regulators. The research method used is a quantitative comparative study employing a multiple linear regression approach. The sample was determined using purposive sampling, which included LQ45 index companies with complete financial statement data available during the observation period. The effectiveness of the models was measured using statistical instruments and prediction accuracy measures such as Mean Absolute Percentage Error (MAPE) and Root Mean Square Error (RMSE). The results of the study indicate that, taken together, net income, book value of equity, and dividends have a significant impact on stock prices, explaining 65.8% of the variance. However, when considered individually, dividends per share were found to be the most dominant and significant variable influencing stock prices (Sig. 0.000). Conversely, net income and book value of equity did not show a significant independent effect. Thus, this study indicates that in the context of LQ45 companies, the Dividend Discount Model (DDM) proves to be more relevant and has stronger predictive power compared to the RIV model. These findings suggest that investors in the Indonesian capital market still heavily rely on dividends as the primary signal of a company’s stability and quality.
Mitigasi Ketidakpatuhan Umkm Dalam Penerapan Standar Akuntansi Keuangan (Sak) Entitas Mikro Kecil Menegah (Emkm) Mochammad Fadhil Abdullah; Icha Mustamin; Nurjannah Nurjannah
Economics and Digital Business Review Vol. 6 No. 2 (2025)
Publisher : STIE Amkop Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37531/ecotal.v6i1.2103

Abstract

Tujuan penelitian ini merumuskan konsep mitigasi ketidakpatuhan UMKM dalam penerapan SAK EMKM. Penelitan ini dilakukan dengan pendekatan kualitatif dengan studi kepustakaan (literature review). Penelitian terlebih dahulu melakukan ekplorasi dan identifikasi terkait permasalahan ketidakpatuhan penerapan SAK EMKM kemudian melakukan identifikasi potensi UMKM dalam penerapan SAK EMKM selanjutnya merumuskan konsep mitigasi. Hasil penelitian mitagasi atas ketidakpatuhan UMKM dalam menerapkan SAK EMKM, yaitu :  Peningkatan pemahaman dan pengetahuan dalam bentuk pendidikan atau pelatihan. Melakukan pendampingan intim seperti, pemberdayaan, membuka layanan konsultasi, supervisi dan peningkatan literasi terkait konsep dan urgensi akuntansi. Sosialisasi SAK EMKM bisa dilakukan dengan beberapa metode seminar, loka karya atau pelatihan. Diperkuat menggunakan instrumen media elektronik, media cetak maupun platform digital. Maksimalisasi peran pemerintah sebagai regulator secara persuasif. Kolaborasi lintas sektor seperti universitas sebagai wujud pengamalan Tri Dharma perguruan tinggi, kemudian ada juga asosiasi Ikatan Akuntan Indonesia (IAI), dan juga pihak swasta seperti kantor akuntan berpraktik.
Determinasi Efektivitas Keputusan Manajerial UMKM: Perspektif Sistem Informasi Akuntansi, Sumber Daya Manusia, dan Gaya Kepemimpinan: Determinants of Managerial Decision-Making Effectiveness in SMEs: Perspectives of Accounting Information Systems, Human Resources, and Leadership Style Icha Mustamin; Nur Azisah Syam; Endang Sriningsih; Dwi Fitra Arreski
Al Dzahab Vol. 6 No. 2 (2025): Al Dzahab: Journal of Economics, Management, Business and Accounting
Publisher : Institut Agama Islam Negeri Kerinci

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32939/dhb.v6i2.5855

Abstract

Purpose: This study aims to analyze the influence of Accounting Information Systems, Human Resources, and Leadership Style on the Effectiveness of Managerial Decision-Making in Micro, Small, and Medium Enterprises (MSMEs). Design/Methodology/Approach: This research employs a quantitative approach with a causal method. The sampling technique used is purposive sampling with a total of 100 respondents. Data were analyzed using multiple linear regression. Findings: The results indicate that Accounting Information Systems, Human Resources, and Leadership Style have a positive effect on the Effectiveness of Managerial Decision-Making. A well-functioning information system helps provide accurate and relevant data to support rational decision-making. High-quality human resources enhance analytical and interpretative abilities in the decision-making process. Meanwhile, visionary and participative leadership fosters a collaborative work environment that strengthens the effectiveness of managerial decisions. Research Implications: The success of decision-making in MSMEs depends not only on leadership capabilities but also on the support of reliable information systems and the competence of human resources. Therefore, improving managerial capacity in MSMEs should focus on strengthening information systems, developing human resource competencies, and applying adaptive leadership styles that respond to changes in the business environment.
AKSELERASI TRANSFORMASI EKONOMI DIGITAL UMKM DAPUR JINNE MELALUI SISTEM LAPORAN KEUANGAN FINPRO DALAM MENDUKUNG VISI INDONESIA EMAS 2045 Endang Sriningsih; Icha Mustamin; Asdar Ilyas; Rusmini Rusmini; Ramlah P; Mashud Mashud; Nurjannah Nurjannah; Masrullah Masrullah; Dwi Fitra Arreski
Jurnal Pengabdian Kolaborasi dan Inovasi IPTEKS Vol. 4 No. 4 (2026): Agustus
Publisher : CV. Alina

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59407/jpki2.v4i4.4163

Abstract

UMKM Dapur Jinne adalah UMKM bergerak dibidang pembuatan dan penjualan kue, dalam pencatatan keuangan yang dilakukan secara manual, sehingga pemilik usaha kesulitan mengetahui omzet harian, keuntungan bersih, serta rincian biaya dan beban usaha secara akurat. Kondisi ini menimbulkan risiko dalam pengambilan keputusan manajerial karena data keuangan tidak terstruktur dan sering kali tidak mencerminkan kondisi riil usaha. Program Pengabdian Kepada Masyarakat (PKM) ini diangkat untuk menjawab permasalahan tersebut dengan tujuan meningkatkan akurasi laporan keuangan, mendukung pengambilan keputusan manajerial, serta memperkuat literasi digital pelaku UMKM melalui penerapan aplikasi FinPro. Metode pelaksanaan dilakukan dengan pendekatan partisipatif dan aplikatif, melibatkan mitra UMKM secara aktif dalam setiap tahapan kegiatan. Tahapan program meliputi observasi dan analisis awal, penentuan sistem digital keuangan, pelatihan penggunaan aplikasi FinPro, pendampingan manajerial berbasis data, implementasi sistem laporan keuangan terintegrasi, evaluasi efektivitas, serta diseminasi hasil kepada UMKM lain di Makassar. Hasil yang diharapkan dari program ini adalah terciptanya sistem laporan keuangan terintegrasi antar cabang, peningkatan keterampilan digital karyawan, serta penguatan kapasitas manajerial berbasis data. Kesimpulannya, penerapan aplikasi FinPro tidak hanya membantu Dapur Jinne mengatasi permasalahan pencatatan manual, tetapi juga menjadi kontribusi nyata dalam mendukung transformasi ekonomi digital UMKM sebagai bagian dari pilar Visi Indonesia Emas 2045.
Co-Authors Alimuddin Amiruddin Asdar Ilyas Darmawati Darwis Said, Darwis Dwi Fitra Arreski Endang Sriningsih Endang Sriningsih Mashud, Mashud Masrullah Masrullah Mochammad Fadhil Abdullah Nur Azisah Syam Nurjannah Nurjannah Ramlah P Rusmini Rusmini