ANALISIS PREDIKSI KEBANGKRUTAN DENGAN MENGGUNAKAN MODEL ALTMAN Z SCORE PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA

2018 ◽  
Vol 2 (1) ◽  
pp. 117
Author(s):  
Umi Sartika
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Sample Selection ◽  
Z Score ◽  
Analysis Model ◽  
Public Companies ◽  
The Public ◽  
Healthy State ◽  
Public Company ◽  
Probability Of Bankruptcy

ABSTRACTThe aim of this research is to test whether the altman model (z score) could be used to predict bankruptcy in the public companies in Indonesia Stock Exchange. Altman  z score is one of the multivariate analysis-model which is useful to predict the company bankruptcy with the trusted accuracy level. This sample selection was done by purposive judgement sampling method. The sample used was 16 companies from all public company listed in the Indonesia Stock Exchange (IDX) periode 2012-2016. While the source of this research data was collected from the company financial reporting in Indonesia Stock Exchange (IDX). The data was processed by the method of the z score formula Z = 1,2X1 + 2,4X2 + 3,3X3 + 0,64X4 + 1,0X5. With the description of Z <1,81 the company categorized into companies that will be bankrupt, the value Z 1,81< 2,99 then the company is considered to be in the grey area of bankrupt enterprises the possibility area and some are not, and the value  of Z  > 2,99 the the company is is a very healthy state so that the probability of bankruptcy is very little going on. The result of this research shows that almost of the public companies are in the bankrupt position with the different bankruptcy level

scholarly journals Analisis Kesulitan Keuangan Perusahaan Perbankan dan Lembaga Pembiayaan

2012 ◽  
Vol 3 (1) ◽  
pp. 165
Author(s):  
Iskandar Putong ◽  
Engelwati Gani
Keyword(s):  
Financial Reporting ◽  
Financial Distress ◽  
Stock Exchange ◽  
Financial Statements ◽  
Z Score ◽  
Ordinary People ◽  
Analysis Model ◽  
Naked Eye ◽  
Depth Analysis ◽  
Reporting Data

Analysis of financial distress at the main company that has sold its shares in an open society (go public) becomes so important because most companies always display the good side of the company in the form of financial reporting data each year. For ordinary people the financial statements audited by a valid and authorized institutions listed on stock exchange by naked eye showed a good performance in finance, but in a more in-depth analysis of the data the form of numbers that will give I different conclusion to the eyes economists and financial analysts to the case. In this study, it is used general sample 4 companies engaged in finance. The Discriminant analysis model using the Altman Z-Score that dissect the financial statements of the company for 3 years showed that not always the companies that have go public must be good financial performance as well. Two of four companies surveyed, in fact, are predicted theoretically bankrupt because the companies were experiencing financial distress.

scholarly journals The Goals and Promise of the Sarbanes–Oxley Act

2007 ◽  
Vol 21 (1) ◽  
pp. 91-116 ◽  
Author(s):  
John C Coates
Keyword(s):  
Financial Reporting ◽  
Internal Controls ◽  
Public Institution ◽  
Section 404 ◽  
Public Companies ◽  
The Public ◽  
Corporate Scandals ◽  
Sarbanes Oxley ◽  
Public Company

The primary goal of the SarbanesOxley Act was to fix auditing of U.S. public companies, consistent with its full, official name: the Public Company Accounting Reform and Investor Protection Act of 2002. By consensus, auditing had been working poorly, and increasingly so. The most important, and most promising, part of SarbanesOxley was the creation of a unique, quasi-public institution to oversee and regulate auditing, the Public Company Accounting Oversight Board (PCAOB). In controversial section 404, the law also created new disclosure-based incentives for firms to spend money on internal controls, above increases that would have occurred after the corporate scandals of the early 2000s. In exchange for these higher costs, which have already fallen substantially, SarbanesOxley promises a variety of long-term benefits. Investors will face a lower risk of losses from fraud and theft, and benefit from more reliable financial reporting, greater transparency, and accountability. Public companies will pay a lower cost of capital, and the economy will benefit because of a better allocation of resources and faster growth. SarbanesOxley remains a work in progress -- section 404 in particular was implemented too aggressively - but reformers should push for continued improvements in its implementation, by PCAOB, rather than for repeal of the legislation itself.

Does Recent Academic Research Support Changes to Audit Reporting Standards?

2016 ◽  
Vol 30 (2) ◽  
pp. 255-275 ◽  
Author(s):  
Jean Bédard ◽  
Paul Coram ◽  
Reza Espahbodi ◽  
Theodore J. Mock
Keyword(s):  
Financial Reporting ◽  
Academic Research ◽  
Financial Statements ◽  
Future Research ◽  
Research Support ◽  
The Public ◽  
Market Participants ◽  
Information Gap ◽  
Public Company ◽  
Reporting Process

SYNOPSIS The Public Company Accounting Oversight Board (PCAOB), the International Auditing and Assurance Standards Board (IAASB), and the U.K. Financial Reporting Council (FRC) have proposed or approved standards that significantly change the independent auditor's report. These initiatives require the auditor to make additional disclosures intended to close the information gap; that is, the gap between the information users desire and the information available through the audited financial statements, other corporate disclosures, and the auditor's report. They are also intended to improve the relevancy of the auditor's report. We augment prior academic research by providing standard setters with an updated synthesis of relevant research. More importantly, we provide an assessment of whether the changes are likely to close the information gap, which is important to financial market participants and other stakeholders in the audit reporting process. Also, we identify areas where there seems to be a lack of sufficient research. These results are of interest to all stakeholders in the audit reporting process, as the changes to the auditor's report are fundamental. Additionally, our summaries of research on the auditor's report highlight where there is limited research or inconsistent results, which will help academics identify important opportunities for future research.

Effect of Profitability, Company Size, Capital Structure, and Liquidity Risk on Firm Value of Indonesian Banks

2021 ◽  
Vol 4 (1) ◽  
pp. 14-27
Author(s):  
Fenty Fauziah ◽  
Rafiqoh Rafiqoh
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Sample Selection ◽  
Liquidity Risk ◽  
Share Price ◽  
Company Size ◽  
The Public ◽  
Retained Earnings

The main objective of any firm is to maximize shareholder's wealth, which can be seen from firm value.  This study aims to analyze and explain the effect of profitability, company size, capital structure, and liquidity risk on firm value banking companies in Indonesia. The population of this study is all banking companies listed on the Indonesia Stock Exchange, with an observation period of 2017-2018. The sample selection using a purposive sampling method. Data have both cross-section and time variation. Analysis and hypothesis testing were carried out by using a linear regression analysis using Eviews 11. The results showed that investors viewed that the company's overall profits from its business activities could increase its share price. The capital structure owned by the public relatively small, which meant that the company could provide a source of funds from within the company in the form of the owner's capital or retained earnings. Funds obtained from loans, if they were not followed by the ability to manage funds or were not channeled back to the community, would cause interest expenses and destroy profits. This condition results in investors selling their shares. Investors in making investment decisions paid attention to one indicator at a time and paid attention to all the factors that determined the company's value.

scholarly journals Pengaruh Kecurangan Laporan Keuangan terhadap Nilai Perusahaan: Ditinjau dari Perspektif Fraud Pentagon (Kasus di Indonesia)

2020 ◽  
Vol 20 (1) ◽  
pp. 121
Author(s):  
Desi Elviani ◽  
Syahril Ali ◽  
Rahmat Kurniawan
Keyword(s):  
Financial Reporting ◽  
Firm Value ◽  
Stock Exchange ◽  
Sample Selection ◽  
Financial Statement ◽  
Fraudulent Financial Reporting ◽  
Financial Statement Fraud ◽  
Company Value ◽  
Negative Effect ◽  
Five Elements

This study aims to examine how the influence of fraudulent financial reporting on firm value is viewed from the perspective of a pentagon fraud with a sample of 71 companies from the infrastructure, utilities and transportation sectors in the Indonesia Stock Exchange in 2014-2018. The sample selection used was purposive sampling method. Company value is measured by price book value, financial statement fraud is measured by fraud-score models. There are two variables that have a positive and significant influence, namely the opportunity and arrogance variables, the two variables present two of the five elements of pentagon fraud, where as the three variables, pressure, rasionalization, competence, do not affect the fraudulent financial reporting. The results of this study have proven that fraudulent financial reporting has a negative effect on firm value.

scholarly journals Is The Pcaob a “Heavily Controlled Component” Of The Sec?: An Essential Question In The Constitutional Controversy

2009 ◽  
Vol 71 (3) ◽  
Author(s):  
Donna M. Nagy
Keyword(s):  
Supreme Court ◽  
Separation Of Powers ◽  
Free Enterprise ◽  
Public Companies ◽  
The Public ◽  
Sarbanes Oxley ◽  
Public Company ◽  
Essential Question ◽  
The U.S

The U.S. Supreme Court recently heard oral arguments in Free Enterprise Fund v. Public Company Accounting Oversight Board, described as “the most important separation-of-powers case regarding the President’s appointment and removal powers to reach the courts in the last 20 years.” Established by Congress as the cornerstone of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley” or the “Act”), the Public Company Accounting Oversight Board (the “PCAOB” or the “Board”) was structured as “a strong, independent board to oversee the conduct of the auditors of public companies.” Its principal mission was to prevent the type of auditing failures that contributed to the scandals at Enron, WorldCom, and numerous other public companies in the period leading up to the passage of the Act.

Financial Reporting Fraud: Public and Private Companies

2016 ◽  
Vol 1 (1) ◽  
pp. A27-A41 ◽  
Author(s):  
A. Scott Fleming ◽  
Dana R. Hermanson ◽  
Mary-Jo Kranacher ◽  
Richard A. Riley
Keyword(s):  
Financial Reporting ◽  
Primary Objective ◽  
Private Company ◽  
Private Companies ◽  
Public And Private ◽  
Public Companies ◽  
Multivariate Tests ◽  
Public Company ◽  
Public Versus Private ◽  
Financial Reporting Fraud

ABSTRACT This study uses survey data gathered by the Association of Certified Fraud Examiners (ACFE) and provided to the Institute for Fraud Prevention (IFP) to examine differences in the profile of financial reporting fraud (FRF) between private companies and public companies. Although private companies represent a significant portion of the economy, largely due to lack of data on these companies, most research on FRF examines only public companies. The primary objective of this study is to determine how private company FRF is different from FRF in public companies. Our multivariate tests reveal that public companies have stronger anti-fraud environments, are more likely to have frauds that involve timing differences, tend to experience larger frauds, have frauds that involve a larger number of perpetrators, and are less likely to have frauds that are discovered by accident. Overall, it appears that the stronger anti-fraud environment in public companies leads public company FRF perpetrators to use less obvious fraud methods (i.e., timing differences) and to involve larger fraud teams to circumvent the controls. These public company frauds are larger than in private companies, and their larger size may make them more likely to be detected through formal means, rather than by accident. Based on the results, we encourage auditors and others to be particularly attuned to the unique risks of the public versus private setting.

The Public Company Transformed

2018 ◽  
Author(s):  
Brian Cheffins
Keyword(s):  
World War Ii ◽  
Dominant Role ◽  
Departure Point ◽  
Public Companies ◽  
Managerial Capitalism ◽  
The Public ◽  
Corporate Scandals ◽  
Public Company ◽  
The Board Of Directors ◽  
History Of

The publicly traded company has played a dominant role in the American economy for decades. The Public Company Transformed examines the history of the American public company from the mid-twentieth century through to the present day. The analysis is oriented around constraints that have affected the discretion available to public company executives, such as monitoring by the board of directors, activism by shareholders, complying with regulation, dealings with unions, and pressure from competitors. The chronological departure point is the managerial capitalism era, which prevailed in large American corporations following World War II. Managerial capitalism’s rise, its 1950s and 1960s heyday, and its fall in the 1970s and 1980s are canvassed. Prosperity that American public companies and their executives enjoyed during the 1990s is described, as is a reversal of fortunes in the 2000s precipitated by corporate scandals and the financial crisis of 2008. The Public Company Transformed concludes by offering conjectures on the future of the public corporation, indicating in so doing that predictions the public company will soon be an afterthought are likely to be proved incorrect.

PCAOB Enforcements: A Review of the First Three Years

2009 ◽  
Vol 3 (2) ◽  
pp. A15-A34 ◽  
Author(s):  
David L. Gilbertson ◽  
Terri L. Herron
Keyword(s):  
Disciplinary Action ◽  
Public Companies ◽  
The Public ◽  
Sarbanes Oxley ◽  
Public Company

SUMMARY: The Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board (hereafter, PCAOB) to oversee audits of public companies. When violations of the Sarbanes-Oxley Act or PCAOB rules are found, the PCAOB may impose sanctions as severe as revoking a firm’s registration or barring a person from participating in audits of public companies. This paper describes the PCAOB enforcement actions issued through 2008. We examine characteristics of the disciplined firms, their PCAOB inspections, the related issuer clients, and the circumstances that resulted in the disciplinary proceedings. Consistent with prior research, we find that firms with issues rising to the level of disciplinary action generally have longer inspections and more audit deficiencies than firms with inspection deficiencies not resulting in sanctions. Disciplined firms also tend to have fewer partners, audit more SEC issuers, and have clients that are smaller and less financially sound.

scholarly journals KAJIAN ATAS FAKTOR-FAKTOR YANG MEMPENGARUHI PENGUNGKAPAN LINGKUNGAN (ENVIRONMENTAL DISCLOSURE) PADA PERUSAHAAN PUBLIK DI BEJ PADA TAHUN 2004 - 2005

2007 ◽  
Vol 7 (2) ◽  
pp. 107 ◽  
Author(s):  
Bambang Sudaryono
Keyword(s):  
Data Analysis ◽  
Earnings Management ◽  
Sampling Method ◽  
Stock Exchange ◽  
Analysis Method ◽  
Environmental Disclosure ◽  
Public Companies ◽  
The Public ◽  
The Impact ◽  
Research Show

<p class="Style1"><strong><em>The aim of this research is to analyze the factors that impact the public companies' </em></strong><strong><em>enviromental disclosure and also to analyze the impact of corporate (company's size, age, </em></strong><strong><em>ROA and earnings management) on coprporate disclosure (mandatory and voluntary). Data </em></strong><strong><em>are obtained from 60 companies, which are listed on Jakarta Stock Exchange, and </em></strong><strong><em>selected based on the purposive sampling method. The data analysis method is used the </em></strong><strong><em>path analysis. The result of this research show that on the significant rate of 5%, the </em></strong><strong><em>company's size, ROA, earnings management and </em></strong><em>corporate </em><strong><em>disclosure have a significant </em></strong><strong><em>effect </em></strong>to <strong><em>environmental disclosure. While for the company's age and financial leverage </em></strong><strong><em>have no significant effect to the environmental disclosure.</em></strong></p><p class="Style1"><strong><em>Keywords: Enviromental disclosure, company's size, company's age, ROA and coprporate disclosure.</em></strong></p>

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