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INVOICE : JURNAL ILMU AKUNTANSI
Published by Universitas Muhammadiyah Makassar
ISSN : 27146359     EISSN : 27146340     DOI : https://doi.org/10.26618/inv.v3i1
Core Subject : Economy,
Economics, Econometrics & Finance
Invoice: Journal of Accounting Science has p-ISSN 2714-6359 and e-ISSN 2714-6340 published by the Accounting Study Program, Faculty of Economics and Business, University of Muhammadiyah Makassar, this journal publishes research articles in the field of Accounting Science. This journal publishes research studies using various qualitative and/or quantitative methods and approaches in the field of Accounting. This journal aims to develop concepts, theories, perspectives, paradigms, and methodologies within the scope of accounting which is published twice a year, in March and September. of the Invoice journal includes Financial Accounting (Financial Accounting), Audit Accounting (Auditing), Islamic Financial Accounting, Cost Accounting (Cost Accounting), Management Accounting (Management Accounting), Tax Accounting (Tax Accounting), International Accounting (International Accounting) , Accounting for Non-Profit Institutions (Non-Profit Accounting), Budget Accounting (Budgeting Accounting), Government Accounting / Public Sector (Goverment Accounting), Accounting System (Accounting System) Invoice: Journal of Accounting Science have been singgle reviewed by peer reviewers. The decision to accept or not accept scientific articles in this journal is the right of the Editorial Board based on recommendations from peer reviewers.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 290 Documents
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Analysis of ESG Disclosure on the Firm Value in Banking Sector IDX 2020-2023 Hutauruk, Joseph Reynaldo; Rahmiati, Rahmiati; Mentari, Theresia
INVOICE : JURNAL ILMU AKUNTANSI Vol 7, No 1 (2025): Maret 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

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Abstract

This study examines the impact of Environmental, Social, and Governance (ESG) disclosure on firm value in the banking sector listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023. Utilizing a quantitative approach, this research employs secondary data collected through purposive sampling, resulting in a sample of 80 banking companies that met specific ESG disclosure and financial reporting criteria. ESG disclosure data were obtained based on the Global Reporting Initiative (GRI) Standards, specifically GRI 300 (Environmental), GRI 400 (Social), and GRI 2 (General Disclosures), while firm value was measured using the Price-to-Book Value (PBV) ratio. Multiple regression analysis was conducted to assess the relationship between ESG disclosure and firm value. The findings reveal that environmental, social, and governance factors do not have a significant effect on firm value. This suggests that ESG disclosure in the Indonesian banking sector has not yet been a primary determinant of firm valuation, potentially due to factors such as limited investor awareness, weak regulatory enforcement, or prevailing market skepticism regarding the financial relevance of ESG initiatives. These results contribute to the existing discourse on sustainable banking by providing empirical evidence on the limited impact of ESG disclosure on firm value within the Indonesian banking sector. Furthermore, this study underscores the importance of regulatory bodies in promoting ESG disclosure as a key performance indicator for banking institutions. Future research could examine moderating factors such as financial performance, risk management strategies, or the effectiveness of corporate governance frameworks in strengthening the relationship between ESG disclosure and firm value. These insights are valuable for investors, policymakers, and banking institutions in optimizing ESG strategies to maximize firm value and ensure sustainable financial growth.
System Implementation and Governance in Sharia Financial Institutions Samsidar, Samsidar; Arviana, Pipi; Bulutoding, Lince; Muhlis, Syaiful
INVOICE : JURNAL ILMU AKUNTANSI Vol 7, No 1 (2025): Maret 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

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Abstract

Islamic finance institutions (IFIs) are bound by principles that extend beyond profit-making; they must ensure accountability to Allah SWT in their operations. These institutions are required to adhere strictly to Sharia standards, which guide their governance and systems. This study aims to examine the implementation of systems and governance in IFIs in Indonesia. A descriptive qualitative approach, utilizing library research, was employed to explore this subject. The findings reveal that the primary goal of the Islamic financial system is to redistribute wealth, facilitating the transfer of funds from savers to borrowers in need, thereby promoting economic growth and enhancing social welfare. Shariah governance (SG) is a unique framework that ensures compliance with Islamic laws, akin to the historical concept of hisbah. Effective governance is essential for the success of Islamic finance institutions, ensuring that they operate in accordance with Sharia principles. This study underscores the significance of SG in regulating these institutions, highlighting the role of the Sharia Supervisory Board (SSB) in maintaining Sharia compliance. Furthermore, regulatory frameworks in Indonesia, including laws and guidelines from the National Shariah Board (DSN), ensure that IFIs adhere to these standards, thereby reinforcing their commitment to Islamic ethics and promoting trust within the community
Impact of Inflation, Forex Reserves, and Exchange Rates on the Composite Stock Price Index of Manufacturing Firms in Indonesia Syaifullah, Andi Mustika; Fattah, Ilham A.
INVOICE : JURNAL ILMU AKUNTANSI Vol 7, No 1 (2025): Maret 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

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Abstract

This study aims to analyze the influence of macroeconomic factors, namely inflation, foreign exchange reserves, and exchange rates, on the Composite Stock Price Index (IHSG) in Indonesia. The study utilizes secondary data, including IHSG, inflation rates, foreign exchange reserves, and exchange rate fluctuations on the Indonesia Stock Exchange (IDX), and employs multiple linear regression analysis to assess the relationships among these variables. The research adopts a descriptive quantitative approach to systematically describe and interpret the data. The findings reveal that inflation has a positive and significant impact on IHSG, suggesting that rising inflation can stimulate stock market performance under certain conditions. Likewise, the exchange rate demonstrates a positive correlation with IHSG, indicating that currency appreciation may enhance investor confidence and stock price growth. Furthermore, foreign exchange reserves are positively associated with IHSG, reflecting the stabilizing effect of a strong reserve position on financial markets. These results align with existing financial theories that highlight the interconnectedness of macroeconomic stability and stock market performance. The study provides valuable insights for investors, policymakers, and market analysts regarding the macroeconomic determinants of stock market movements. Future research is encouraged to expand the scope by incorporating additional variables, such as interest rates, monetary policy interventions, and global economic trends, to further enhance the understanding of factors influencing IHSG dynamics.
TCWG on Cost of Equity with Audit Opinion as a Moderating Variable Endarty, Kharisma; Apandi, Nelly Nur; Widarsono, Agus
INVOICE : JURNAL ILMU AKUNTANSI Vol 7, No 1 (2025): Maret 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

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Abstract

This study examines the impact of the audit committee (AC) on the cost of equity (COE), with audit opinion (AO) as a moderating variable, in hotel and property sector companies listed on the Indonesia Stock Exchange from 2019 to 2023. Using a quantitative approach with panel data regression, the findings indicate that the number of audit committee members does not significantly affect COE. Furthermore, audit opinion fails to strengthen the relationship between the audit committee and COE, suggesting that investors do not fully consider these factors when assessing risks and expected returns. These results highlight the need for improving the quality and effectiveness of audit committees in overseeing financial reporting processes to enhance transparency and investor confidence. Additionally, firms should ensure that their financial statements reflect accurate and reliable information to mitigate investment risks. The study contributes to the literature on corporate governance by providing empirical evidence on the limited role of audit committees and audit opinions in influencing the cost of equity. From a practical perspective, regulators and corporate decision-makers should emphasize strengthening governance mechanisms beyond mere compliance with regulatory requirements. Enhancing financial disclosures and reinforcing the credibility of audit committees may help reduce perceived risks among investors, leading to lower capital costs. This study underscores the importance of transparency in financial reporting and the role of governance structures in shaping investor perceptions. Future research should explore other governance attributes, such as board independence and financial expertise, in influencing COE to provide a more comprehensive understanding of the determinants of equity financing costs.
Ijarah Muntahia Bittamlik: Comprehensive Analysis and Implementation in Sharia Financial Business in Indonesia Azizah, Nur; Wahyuddin, Wahyuddin; Bulutoding, Lince
INVOICE : JURNAL ILMU AKUNTANSI Vol 7, No 1 (2025): Maret 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

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Abstract

Ijarah Muntahia Bittamlik (IMBT) is a Sharia-based financial instrument that merges the concept of leasing (ijarah) with a transfer of ownership, offering an innovative solution for long-term asset financing. This study aims to comprehensively analyze IMBT, comparing it with conventional leasing (ijarah) and evaluating its application in Indonesia's Islamic financial sector. A qualitative method with a descriptive-analytical approach was employed, drawing on literature reviews and industry data. The findings show that IMBT offers greater flexibility compared to conventional ijarah, especially in asset ownership transfer. In Indonesia, various Islamic financial institutions have implemented IMBT, but its growth faces challenges such as regulatory limitations, standardization of contracts, and low public awareness. The study emphasizes the need for enhanced regulation and greater efforts in public education to facilitate wider adoption. It also highlights the significant role of IMBT in addressing the increasing demand for Sharia-compliant asset financing, such as property and vehicle purchases. By providing practical recommendations, this study contributes to the development of IMBT literature and supports stakeholders in the Islamic financial industry to better utilize this financial product. IMBT's potential for growth in Indonesia is significant, especially in light of the expanding Islamic finance sector and increasing demand for asset financing solutions that align with Sharia principles.
Optimal Portfolio Analysis Using the Markowitz Model: A Case Study in Mining Industry Companies Listed on the Indonesia Stock Exchange Budiandriani, Budiandriani; Sarira, Wahyuni Tommo; Nurhasimah, Nurhasimah; Manjas, Sitti Zalsamala Maulina; Rafiuddin, Rafiuddin
Invoice : Jurnal Ilmu Akuntansi Vol. 7 No. 2 (2025): September 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/yr7v9q58

Abstract

This study aims to test. Optimal Portfolio Using the Markowitz Model: Case Study in Mining Industry Companies Listed on the Indonesia Stock Exchange. This study uses Secondary data needed in this study is the Annual Report data of Mining Industry Companies Listed on the Indonesia Stock Exchange in 2021 - 2023 from the official website of each company. Sampling of respondents was carried out by purposive sampling. Purposive sampling is the selection of samples based on assessment. This analysis is assisted by Microsoft Excel software. The results of the study show that the portfolio with maximum profit consists of ICNO 2.93, ENRG 0.32, TINS -0.23, MEDC 0.01, PSAB -1.24, IFSH 3.01, ANTM 1.65, MBAP 0.09, and PTBA 1.40. The expected return of the portfolio is 0.66 with a risk of 0.22. This optimal portfolio is better than a portfolio filled with 10 stocks with the same weight, where the expected return increases from 0.21 to 0.66 and the standard deviation decreases from 0.29 to 0.22. This shows that allocating funds using the optimal portfolio is more effective than equalizing the weights on each stock.
The Effect of Return on Assets, Return on Equity, and Loan-to-Deposit Ratio on Capital Adequacy Ratio: Evidence from Indonesian State-Owned Banks Pranoto, Dimas; Arifin, Atwal
Invoice : Jurnal Ilmu Akuntansi Vol. 7 No. 2 (2025): September 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/256npr93

Abstract

This study aims to analyze the effect of Return on Assets (ROA), Return on Equity (ROE), and Loan-to-Deposit Ratio (LDR) on the Capital Adequacy Ratio (CAR) of state-owned banks in Indonesia. Maintaining an optimal CAR is crucial for banks to ensure financial stability and compliance with regulatory requirements. To address this objective, panel data regression analysis was employed using secondary data obtained from the annual reports of state-owned banks for the 2019–2023 period. Several diagnostic tests were conducted to select the most appropriate model, and the Random Effect Model (REM) was determined to be the best fit. The empirical findings demonstrate that ROA, ROE, and LDR jointly exert a statistically significant influence on CAR, indicating that bank profitability and liquidity collectively play a role in determining capital adequacy. However, the partial results of the t-test reveal that only ROA has a significant positive effect on CAR, while ROE and LDR show no significant effect. These results highlight the importance of profitability, as measured by ROA, in strengthening capital adequacy. The findings provide valuable insights for policymakers as a reference for designing strategies to maintain banking stability, for banking institutions as input for evaluating financial health, and for investors and potential investors as a basis for assessing bank soundness before making investment decisions.
Application of Information Technology for Enhancing Accounting Effectiveness in the Regional Finance and Assets Agency Sudarti, Sudarti; Abd. Samad; Hasniaty
Invoice : Jurnal Ilmu Akuntansi Vol. 7 No. 2 (2025): September 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/gk2hzw63

Abstract

Purpose: This study aims to evaluate the effectiveness of the Regional Government Information System (SIPD) in improving efficiency, transparency, and accountability in regional financial management, with a focus on identifying the factors that hinder its optimal implementation at the Regional Financial and Asset Agency (BKAD) of Paniai Regency. Design/Methodology/Approach: A qualitative research design was employed using in-depth interviews and document analysis. Informants included one division head, three financial staff members, and two IT personnel at BKAD. Data were analyzed using thematic analysis to identify major challenges and recurring themes related to SIPD implementation. Findings: The study reveals that SIPD implementation is constrained by several challenges, including limited internet connectivity in remote areas, inadequate technological infrastructure, and insufficient human resources with the necessary technical expertise. Additionally, poor synchronization between BKAD and other regional government agencies (OPDs) in financial reporting contributes to delays in the preparation of financial statements. Practical Implications: The findings suggest that enhancing technological infrastructure, procuring compatible devices, and providing targeted training programs are crucial to improving system performance. Furthermore, strengthening regulations and policies is necessary to ensure compliance and inter-agency coordination. Originality/Value: This study contributes to the literature by offering empirical insights into SIPD implementation challenges in an under-researched region, providing actionable recommendations for policymakers and practitioners to enhance financial transparency and accountability.
The Influence of Distribution and Pricing on Purchase Decisions at the Sari Roti Outlet of PT Indosari Niaga Nusantara in Parepare Sulawati, Sulawati; Angka, A. Fitri Sugi; Dinsar, Arfandy
Invoice : Jurnal Ilmu Akuntansi Vol. 7 No. 2 (2025): September 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/gcceqz34

Abstract

This study aims to determine whether Distribution and Price have a partial and simultaneous effect on the Purchase Decision of Sari Roti outlets at PT INDOSARI Niaga Nusantara Parepare. In this study, the population sampled consisted of 45 people. The research method used is data description with the help of Statistical Product and Service Solutions (SPSS) software version 25.The data collection methods used include Interviews, Documentation, and Observation. This research involves several tests, including Validity Test, Reliability Test, Multiple Linear Regression Analysis, as well as t-test (partial), F-test (simultaneous), and Coefficient of Determination (R²). These results indicate that Distribution (X1) has a significant partial effect on the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the t-count value of 2.677 > t-table value of 2.018 and a significance value smaller than 0.05 (0.000 ≤ 0.05). Price (X2) has a significant partial effect on the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the t-count value of 5.648 > the t-table value of 2.018 and a significant value of 0.000 ≤ 0.05. Distribution and Price simultaneously affect the Purchase Decision of Sari Roti Outlet PT INDOSARI Niaga Nusantara Parepare. This is based on the calculated F value of 62.069 > the table F value of 2.83 with a significance value of 0.000 < 0.05.
Evaluating the Effect of Innovation Strategy on Customer Interest through the Memberku Application in Bakti Huria Syariah Cooperative Uyun, Nurul; Fatimah, Siti; Kamaruddin, Kamaruddin
Invoice : Jurnal Ilmu Akuntansi Vol. 7 No. 2 (2025): September 2025
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Muhammadiyah Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26618/400r4c82

Abstract

This study explores the implementation of innovation strategies at Bakti Huria Syariah Makassar Cooperative and examines their impact on members’ interest in using the Memberku digital application. The research focuses on three core aspects: the application of innovation strategies in developing the Memberku application, the supporting and inhibiting factors influencing implementation, and the effectiveness of these strategies in encouraging members to adopt digital cooperative services. A qualitative descriptive approach was employed to gain in-depth insights into these processes. Data were collected through observation, semi-structured interviews, documentation, and a comprehensive literature review. The IT Division of the cooperative served as the primary data source, providing critical information regarding system updates, user growth, and operational challenges. Data analysis was conducted in three systematic stages: data reduction, data presentation, and conclusion drawing. The findings indicate that the innovation strategy has been relatively effective in enhancing member engagement and promoting digital service adoption. Following a major system update in 2023, the cooperative recorded an increase of 300 new users, while the marketing team was tasked with acquiring at least ten additional users each month. Success was assessed through two key performance indicators: the number of active users and the volume of transactions through the application, both of which demonstrated significant growth. These results underscore the effectiveness of innovation strategies in driving the digital transformation of cooperative services.

Page 18 of 29 | Total Record : 290

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