scholarly journals MENILAI KESEHATAN KEUANGAN MITRA DALAM ANALISIS KELAYAKAN PEMBERIAN MODAL MENGGUNAKAN METODE Z-SCORE

2021 ◽  
Vol 7 (2) ◽  
pp. 245-254
Author(s):  
Aries Maesya ◽  
Evi Sopiani
Keyword(s):  
Financial Statements ◽  
Financial Health ◽  
Z Score ◽  
Gray Area ◽  
A Value ◽  
Financial Soundness ◽  
Score Method ◽  
Score Model ◽  
The Right ◽  
The Relationship

ABSTRAKTujuan penelitian ini adalah menilai kesehatan keuangan mitra menggunakan metode Z-Score untuk memprediksi kesehatan keuangan mitra atau calon debitur. Subjek penelitian ini di tiga mitra atau nasabah dari PT Mitra Bisnis Keluarga Ventura dari sektor manufaktur dan perdagangan. Penelitian ini adalah penelitian kualitatif deskriptif. Metode analisis data menggunakan model Altman Z-Score dengan menganalisis laporan keuangan nasabah PT Mitra Bisnis Keluarga Ventura dari tiga periode atau lebih. Berdasarkan hasil penelitian yang dilakukan, Data Mitra A dikategorikan sehat dengan Z-Score 3,80, Data Mitra B dikatakan tidak sehat dengan nilai 0,52 dan Data Mitra C dikatakan Grey Area karena memiliki angka di bawah 2,60, yaitu 2,33. Hasil penelitian ini mengimplikasikan bahwa Keterkaitan antara Metode Z-Score dengan hasil keputusan tingkat kesehatan keuangan cukup membantu dalam menganalisis laporan keuangan dan dapat menghasilkan keputusan yang tepat dalam menilai kesehatan keuangan mitra. ABSTRACTThe purpose of this study is to assess the financial health of partners using the Z-Score method to predict the financial health of partners or prospective debtors. The subjects of this study were three partners  of PT Mitra Bisnis Keluarga Ventura from the manufacturing and trading sectors. This research is a descriptive qualitative research. The data analysis method uses the Altman Z-Score model by analyzing the financial statements of PT Mitra Bisnis Keluarga Ventura customers from three or more periods. Based on the results of the research conducted, Partner A's data is categorized as healthy with a Z-Score of 3.80, Mitra B's data is said to be unhealthy with a value of 0.52 and Partner C's data is said to be gray area because it has a number below 2.60, which is 2.33. The results of this study imply that the relationship between the Z-Score method and the results of financial soundness decisions is quite helpful in analyzing financial statements and can produce the right decisions in assessing the financial health of partners.

scholarly journals ANALISIS PREDIKSI KEBANGKRUTAN MENGGUNAKAN MODEL ALTMAN Z-SCORE PADA PT EXPRESS TRANSINDO UTAMA (TAXI), TBK

2021 ◽  
Vol 1 (1) ◽  
pp. 36-44
Author(s):  
Anugrahwati Ariatma
Keyword(s):  
Secondary Data ◽  
Financial Statements ◽  
Analytical Tool ◽  
Operating Costs ◽  
Z Score ◽  
Financial Problems ◽  
Gray Area ◽  
A Value ◽  
Data Source ◽  
Score Model

This study aims to determine and analyze bankruptcy predictions at PT Express Transindo Utama (TAXI) Tbk using the Altman Z-score model, whether PT Express Transindo Utama (TAXI) Tbk is experiencing symptoms of financial problems and is in the bankrupt category or is included in the non-bankrupt category based on interpretation of the Altman Z-score model. The type of data used in this research is quantitative and the data source used is secondary data. The analytical tool in this study using the Altman Z-score model. From the results of the analysis based on calculations that have been carried out on the financial statements of PT Express Transindo Utama (TAXI) Tbk in 2015 and 2016 the company is included in the gray area category because the Z-score shows a value of 1.1 <Z <2.6. But in 2017 and 2018 the Z-score shows a Z value <1.1, so the company is in the bankrupt category or the company is experiencing serious financial problems. This is due to the larger current debt of the company compared to the current assets of the company as well as the less than maximum revenue earned and the large operating costs of the company. Companies can overcome this by reducing debt and increasing revenue.

scholarly journals EVALUATING FINANCIAL HEALTH OF GUJARAT STATE FERTILIZERS THROUGH ‘Z’ SCORE MODEL

2018 ◽  
Vol 6 (7) ◽  
pp. 115-120
Author(s):  
Vikash Saini
Keyword(s):  
Financial Statements ◽  
Business Failure ◽  
Financial Health ◽  
Z Score ◽  
Gujarat State ◽  
Financial Position ◽  
Financial Soundness ◽  
Score Model ◽  
Altman Model

The evaluation of financial health is very useful for financial managers, investors and other users. In this study it is tried to know whether Z score model is able to evaluate financial health of Chambal Fertilizers and Chemicals ltd for past 10 years (2007-08 to 2016-17). Analysis of this paper shows that the model is useful to know the financial soundness of Chambal Fertilizers. In this paper overall results of Z score model indicating that the financial position of the corporation is on alert to exercise the caution. These result shows that Altman model can give good analysis for fertilizers sector in India. Hence it can be concluded that user of financial statements like financial managers, analysts, investors etc can predict business failure or financial soundness of companies through Altman Z score model.

scholarly journals Financial Soundness of Cement Industry of Bangladesh: An Empirical Investigation Using Z-score

2014 ◽  
Vol 1 (1) ◽  
pp. 16-22 ◽  
Author(s):  
A. N. K. Mizan ◽  
Md. Mahabbat Hossain
Keyword(s):  
Empirical Investigation ◽  
Raw Materials ◽  
Cement Industry ◽  
Annual Reports ◽  
Business Firm ◽  
Financial Health ◽  
Z Score ◽  
Financial Soundness ◽  
Financial Decision ◽  
Score Model

For measuring the financial health of a business firm, there are lots of techniques available. But the Altman’s Z-score has been proven to be a reliable tool across contexts. Bangladesh cement industry is a unique one because, the industry is producing a higher amount of cement than the local demand having no supply of local raw materials. The main objective of the study is to assess the fundamental financial health of this industry using Z-score model. All listed cement firms are considered in this study. The required information has been collected from the annual reports of the selected companies and from other sources. The study revealed that two firms, Heidelberg cement and Confidence Cement, are financially sound whereas other three are not in a good position. The findings of the study can be useful for the managers to take financial decision, the stockholders to choose investment options and others to look after their interest in the concern cement manufacturers of the country.

scholarly journals BANKRUPTCY PREDICTION OF THE COMPANY USING ALTMAN Z–SCORE METHOD FOR THE CONVENTIONAL BANKS REGISTERED IN THE INDONESIA STOCKS EXCHANGE (BEI)

2017 ◽  
Vol 2 (02) ◽  
pp. 11
Author(s):  
Irwansyah .
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Gray Area ◽  
Analysis Technique ◽  
Score Analysis ◽  
Score Method ◽  
Score Model ◽  
Conventional Banks

This study was conducted to prove the accuracy of bankruptcy prediction of Altman Z-Score model on conventional banks listed on the Indonesia Stock Exchange. The data used in this study is secondary data obtained from the annual financial statements of conventional banks during the period of 2013-2016 mentioned on the official website of the Indonesia Stock Exchange. The data analysis technique used is bankruptcy prediction of Altman Z-Score model, using five variables representing liquidity ratios X1, profitability ratios X2 and X3, and activity ratios X4 and X5. The formula Z-score = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + X5. When Z-Score criteria is Z > 2.90 it is categorized as a healthy company. Z-Score between 1.23 to 2.90 is categorized as a company in area. While Z-Score Z < 1.23 is categorized as a potential bankrupt company. Based on the results of the research, Z-Score analysis that has been done in the period of 2013-2016 indicating that most conventional banks are predicted bankrupt. The lowest score of the Z-Score is 1.23. Only one Bank Jtrust Indonesia Tbk (BCIC bank code) is in a healthy category. Bank Mandiri (Persero) Tbk with BMRI bank code, has been increasing from the prediction of bankruptcy category to the prediction of gray area category.Keywords: Altman Z-Score, Conventional Banks Listed on BEI 2013-2016, Prediction of Bankruptcy.

ANALISIS PREDIKSI KEBANGKRUTAN MENGGUNAKAN MODEL ALTMAN Z- SCORE DAN ZMIJEWSKI PADA PERUSAHAAN KOSMETIK YANG TERDAFTAR DI BURSA EFEK INDONESIA

2020 ◽  
Vol 5 (1) ◽  
pp. 24-33
Author(s):  
Dewi Oktary
Keyword(s):  
Quantitative Data ◽  
Stock Exchange ◽  
Secondary Data ◽  
Bankruptcy Prediction ◽  
The Other ◽  
Z Score ◽  
Gray Area ◽  
Score Method ◽  
Data Source ◽  
Score Model

Increasingly intense competition in the cosmetics industry in Indonesia, one of which is the number of artists opening a cosmetics business and besides the entry of many cosmetics brands from abroad which makes existing cosmetic companies must be careful in running their business. This study aims to predict the bankruptcy of cosmetics companies listed on the Indonesia Stock Exchange with the Altman Z-Score model and the Zmijewski model. The sample in this study was cosmetic companies listed on the Main Board of the Indonesia Stock Exchange as many as 4 companies. The data source used is secondary data taking data from the IDX, the type of data used is quantitative data. The result of this research is bankruptcy prediction using the Altman-Z Score method showing that PT. Martino Berto, Tbk for 2016 is included in the Gray Area category while in 2017-2018 it is predicted to go bankrupt while for PT. Mustika Ratu, in 2016 - 2018 entered the Gray Area category while the other two companies namely PT. Mandom Indonesia, Tbk and PT. Unilever, Tbk from 2016 to 2018 is predicted not to go bankrupt. Meanwhile, using the Zmijewski method in cosmetics companies listed on the Indonesia Stock Exchange in the period 2016-2018 is predicted not to go bankrupt. From the comparison between the Altman Z-Score model and the Zmijewski model, the Zmijewski model has an effectiveness of 100% compared to the Altman Z-Score model which has an effectiveness level of 50%.

scholarly journals Metode Altman Z-Skor Dalam Memprediksi Kepailitan Di Semua Koperasi Kredit Di Kabupaten Maumere

2020 ◽  
Vol 21 (01) ◽  
Author(s):  
Yoseph Darius Purnama Rangga ◽  
Henrikus Herdi ◽  
Wilhelmina Mitan
Keyword(s):  
Secondary Data ◽  
Credit Union ◽  
Bankruptcy Prediction ◽  
Regional Government ◽  
Financial Health ◽  
Z Score ◽  
Analytical Technique ◽  
Gray Area ◽  
Credit Cooperatives ◽  
Score Model

Abstract Problems that often occur in a cooperative are usually caused by financial problems. To measure the level of financial health cooperatives can be used analysis of financial ratios using the Altman Z-Score model. This research aims to predict bankruptcy in the credit Union of the regional government Puskopdit, Maumere, using the Altman Z-Score model. The samples in this study were credit cooperatives of the main district Puskopdit in 2015-2017 consisting of 16 cooperatives. The data source used is the secondary data in the form of cooperative financial statements. The analytical technique used is the Altman Z-Score Bankruptcy Prediction model. The results showed that there is a cooperative that has been in the healthy category during the year 2015-2017, namely Torch Mas Cooperative, Tuke Jung, Ortal, Plantation, star East, and Serba Te. In the years 2015 and 2016 Kelubagolit cooperatives entered in the category of gray area, but in the year 2017 the cooperative is in a healthy category. In addition, there are cooperatives during the year 2015-2017 in the category of gray area namely Sube Huter Cooperative, Tuke Ler, Hiro Heling, Bina Pertiwi, and Surya Sakti. The cooperatives of San Dominggo in 2015 and 2016 were in the category of bankruptcy, but the following year entered the gray area category. The cooperative in the category of bankruptcy from 2015-2017 is the youth cooperative Hokeng and Ankara. In the year 2015 Plelu Meluk Cooperative entered in the category of gray area, the cooperative's performance continued to decline and in the year 2016 and 2017 the cooperative was entered in the category of bankruptcy. In the years 2018, Hokeng Youth Cooperative experienced an amalgamation with Mitan Gitan Cooperative. This indicates that the accuracy level of the Altman Z-Score model is high..

scholarly journals PENERAPAN MODEL ALTMAN Z-SCORE DALAM MENGUKUR POTENSI KEBANGKRUTAN (STUDI KASUS PADA PERUSAHAAN PERBANKAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2018 & 2019)

2021 ◽  
Vol 7 (1) ◽  
pp. 148-158
Author(s):  
Rofinus Leki Rofinus Leki
Keyword(s):  
Financial Performance ◽  
Performance Improvement ◽  
Financial Distress ◽  
Safe Zone ◽  
The Other ◽  
Financial Health ◽  
Z Score ◽  
Gray Area ◽  
Sustainability Research ◽  
Score Model

Abstract: This   research   is   a   sustainability   research,   which   uses   the   same   non- manufacturing Altman Z-Score model, with the aim of re-examining the financial health sustainability of the four BUMN banks that the author has studied in 2017 and in 2019. The four BUMN banks are Bank Negara Indonesia (Persero) Tbk PT, Bank Rakyat Indonesia (Persero) Tbk. PT, Bank Tabungan Negara (Persero) Tbk PT,  Bank  Mandiri  (Persero)  Tbk  PT.  The  results  showed  that  PT.  Bank  BTN (Persero) Tbk has a Z-score that has improved in 2018 and 2019, compared to previous years, namely in 2014, 2015, 2016, and 2017. Currently PT. Bank BTN (Persero) Tbk., has moved from the potential financial distress into a "gray area" (improving). Meanwhile, the other three BUMN banks are consistently in the gray area category with a Z-score above 1.2 but below a Z-score of 2.9. The results of this study also show that there is a significant financial performance improvement in every BUMN banking company, but has decreased somewhat in 2019  at Bank BNI (Persero), Tbk. PT and Bank BRI (Persero) Tbk.PT. Be expected is   that   with   the   continuous   and   consistent   improvement   in   financial performance, the financial health position of BUMN Banking (Persero) Tbk can immediately move to the "safe zone".   Keywords: Financial Health of BUMN Banks, Altman Z-Score Model

scholarly journals Assessing the Financial Health Status of Small Scale Poultry Businesses in Delta State, Nigeria

2014 ◽  
Vol 3 (4) ◽  
pp. 9
Author(s):  
D. E. Idoge ◽  
C. O. Chukwuji
Keyword(s):  
Health Status ◽  
Limited Liability ◽  
Financial Statements ◽  
The State ◽  
Small Scale ◽  
Financial Health ◽  
Z Score ◽  
Frequency Distributions ◽  
Z Scores ◽  
Score Model

<p>The study investigated the financial health status of small scale poultry businesses in Delta State, Nigeria using Altman’s Z-score model. The empirical study was undertaken to assess the solvency and hence future survivability of small scale poultry enterprises in the State. Financial data were extracted from three years (2010 – 2012) financial statements of 125 small scale poultry farms purposively selected from farms operating in the State and incorporated with the Nigerian Corporate Affairs Commission as limited liability agribusinesses. Descriptive statistics which include computed financial ratios, frequency distributions, percentages and tables were applied to analyze the content of the financial statements and Altman’s Z-scores’ were computed for each sampled farm for the three year period. The study shows that in 2010, 47.8 percent of farm enterprises had Z-scores between minus 0.60 to 1.55. In 2011 and 2012, 44.8 percent and 42.4 percent, respectively of the farms had Z-scores between negative 0.60 and 1.55. The study further indicates that 28 percent, 27 percent and 30.4 percent in 2010, 2011 and 2012, respectively, of the sampled farms had computed Z-scores between 2.64 and 4.79 farms. The study recommends the use of Altman’s Z-score by small scale investors as a technique for monitoring the financial health of their agribusinesses to prevent the ugly consequences of bankruptcy and liquidation.</p>

ANALISIS PREDIKSI POTENSI KEBANGKRUTAN PADA PT BANK MUAMALAT INDONESIA Tbk PERIODE 2012-2016 DENGAN MENGGUNAKAN METODE ALTMAN MODIFIKASI

2017 ◽  
Vol 5 (2) ◽  
pp. 287-324
Author(s):  
Dewi Laela Hilyatin
Keyword(s):  
Financial Performance ◽  
Financial Structure ◽  
Financial Statements ◽  
Financial Ratios ◽  
Z Score ◽  
Altman Analysis ◽  
Gray Area ◽  
Modification Method ◽  
A Company

Abstract Bankruptcy is a very essential issue that every company should be aware of. Bankruptcy of a company can be minimized by advanced prediction; such as analyzing the financial statements. This study discusses the financial performance of PT Bank Muamalat Indonesia Tbk, which indicates that there is a degression in some number of financial ratios, the closing of offices and firing of employees in 2012-2016, causing he fact that BMI must pay attention and improve its financial performance and anticipate the existence of a bankruptcy in the company. Based on Altman analysis modification for financial performance of PT Bank Muamalat Indonesia Tbk in 2012-2016, it found Z-Score value of 0,825, 0,659, 1,243, 0,982 and 0,892. Based on Z-Score criteria, PT Bank Muamalat Indonesia Tbk is predicted to experience problems in management and financial structure and also in potentially bankruptcy due to Z-Score value <1,1 while the highest Z-Score value is in 2014, which shows the value of Z-Score>1,1 and <2,6, which means the company is in the gray area, meaning the company’s category is not said to be bankrupt and also not healthy. Keywords: Bankruptcy, Altman Modification Method

Financial Statement Ratio Analysis to Predict Bankruptcy nn Company Registered in BEI - Jakarta (Altman Z-Score Method and Zmijewski)

2020 ◽  
Vol 3 (3) ◽  
pp. 122
Author(s):  
Andi Silvan
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Good Condition ◽  
Financial Statement ◽  
Depth Information ◽  
Z Score ◽  
Industrial Manufacturing ◽  
Financial Difficulties ◽  
A Value ◽  
Score Method

AbstractThis study takes the topic of predicting corporate bankruptcies. This research dqlam use traditional methods Altman Z-Score and Zmijewski. The purpose of this study was to obtain in-depth information about predicting bankruptcy of companies that are not necessarily directly to bankruptcy, but there is financial distress.Based on the results of research conducted on the four (4) non industrial manufacturing company listed on the Indonesia Stock Exchange (BEI). Obtaining the value z-score represents the average company are in good condition, which means no financial distress. Acquisition value of x-score has a value of less than 0 (zero) which means that the company is in good condition and is predicted not experiencing financial difficulties. This study led to the conclusion that the Altman Z-Score and Zmijewski method can be used to predict corporate bankruptcy. Keywords: Financial Ratios, Bankruptcy, Company.

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