The Performance and Effectiveness of the Financial Management of Village-Owned Enterprises the Covid-19 Pandemic Research in Bumdes Toapaya, Bintan, Indonesia

Sri Ruwanti; Asri Ratih; Hadli Rikayana; Jack Adel

Proceedings of the 1st Maritime, Economics, and Business International Conference, MEBIC 2021, 24-25 September 2021, Tanjungpinang City, Riau Islands Province, Indonesia

Research Article

The Performance and Effectiveness of the Financial Management of Village-Owned Enterprises the Covid-19 Pandemic Research in Bumdes Toapaya, Bintan, Indonesia

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@INPROCEEDINGS{10.4108/eai.24-9-2021.2314770,
    author={Sri  Ruwanti and Asri Eka Ratih and Hadli Lidya Rikayana and Jack Febriand Adel},
    title={The Performance and Effectiveness of the Financial Management of Village-Owned Enterprises the Covid-19 Pandemic Research in Bumdes Toapaya, Bintan, Indonesia},
    proceedings={Proceedings of the 1st Maritime, Economics, and Business International Conference, MEBIC 2021, 24-25 September 2021, Tanjungpinang City, Riau Islands Province, Indonesia},
    publisher={EAI},
    proceedings_a={MEBIC},
    year={2021},
    month={12},
    keywords={effectiveness financial performance village owned-enterprises locally-generated revenue},
    doi={10.4108/eai.24-9-2021.2314770}
}

Sri Ruwanti
Asri Eka Ratih
Hadli Lidya Rikayana
Jack Febriand Adel
Year: 2021
The Performance and Effectiveness of the Financial Management of Village-Owned Enterprises the Covid-19 Pandemic Research in Bumdes Toapaya, Bintan, Indonesia
MEBIC
EAI
DOI: 10.4108/eai.24-9-2021.2314770

Sri Ruwanti¹^,*, Asri Eka Ratih¹, Hadli Lidya Rikayana¹, Jack Febriand Adel¹

1: Raja Ali Haji Maritime University

*Contact email: sriruwanti@umrah.ac.id

Abstract

This study aims to investigate the performance and effectiveness of financial management in BUMDes Toapaya. This study uses a qualitative approach where financial performance is calculated using financial ratios. Effectivenesss assessed through in-depth interviews with resource persons.The observations took place in 2019 and 2020, with 2019 being the base year. The results obtained show a decrease in profit of 38.81%, but NPM increased by 8% from the previous year. This was due to the strategy carried out during 2020 by Village-Owned Enterprises, BUMDes, to reduce the burden and adjust business activities in response to the effects of Covid-19 conditions. The results of BUMDes' efforts have not been effective in achieving all aspects that the village targets. However, the existence of BUMDes can create job opportunities and provide contribution to the village as locally-generated revenue (PADes).

Keywords: effectiveness financial performance village owned-enterprises locally-generated revenue

Published: 2021-12-14
Publisher: EAI

: http://dx.doi.org/10.4108/eai.24-9-2021.2314770