The Seventh Entrepreneurship Class: Arabic Study Program Students Learn Financial Management in Business
Yogyakarta, October 13, 2025 – The Arabic Study Program, Faculty of Cultural Sciences, Universitas Gadjah Mada, continued its Entrepreneurship course series with the seventh session featuring a new speaker, Diyah Wikan Rakhmatika, S.S., M.A.—an academic and business practitioner with extensive experience in Islamic economics and financial management. In this session, Arabic Study Program students explored the crucial topic of Financial Management in Entrepreneurship.
During the lecture, Diyah emphasized that financial management is the backbone of business sustainability, where maintaining a balance between income and expenditure must be grounded in transparency and accountability. She highlighted that many entrepreneurs, especially in the UMKM sector, struggle to grow because they mix personal and business finances. Therefore, students were encouraged to understand the importance of financial separation, regular transaction recording, proper budgeting, and periodic financial evaluations to assess business performance effectively.
The lecture also covered three essential financial reports that every aspiring entrepreneur should master: the income statement, cash flow statement, and simple balance sheet. These reports serve as critical tools for measuring profitability, maintaining positive cash flow, and understanding the overall financial health of a business. Diyah further introduced the concepts of cash flow management and reinvestment strategy as strategic approaches to maintaining financial stability and supporting long-term business growth.
Beyond the technical aspects, Diyah also discussed the ethical and social responsibilities of financial management. She linked sound financial practices with the principles of sustainability, emphasizing that business profits should not solely benefit the owner but also contribute to the well-being of employees, communities, and the environment—such as through corporate social responsibility (CSR) initiatives.
Through this seventh session, students of the Arabic Study Program at UGM were expected not only to understand financial management theory but also to apply it in their ongoing business plan projects. With strong financial literacy, students can build ventures that are not only profitable but also ethical and sustainable.
This entrepreneurship class also aligns with the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 4 (Quality Education) by providing practical entrepreneurship education, SDG 8 (Decent Work and Economic Growth) by fostering competent young entrepreneurs, and SDG 12 (Responsible Consumption and Production) by instilling values of efficient and ethical resource management.
Author: Muhammad Ardiansyah
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