PREDICTION OF FINANCIAL DISTRESS IN CIGARETTE SUBSECTOR FOR 2015-2018 WITH ALTMAN Z-SCORE AND SPRINGATE METHODS

  • Nabil Djafar Sidik Universitas Singaperbangsa Karawang
  • Novi Permata Indah Universitas Singaperbangsa Karawang

Abstract

This study aims to analyze the prediction of financial distress in the cigarette sub-sector companies listed on the IDX for the 2015-2018 period. This type of research uses a descriptive quantitative approach. The population in the study were all companies in the cigarette sub-sector, amounting to 4 companies. Determination of the sample using purposive sampling. Data collection techniques use documentation and secondary data from financial reports for the 2015-2018 period. This research is calculated using the Altman Z-Score and Springate formula. The results of this study describe the prediction of bankruptcy or financial distress using the Altman Z-Score method where in 2015 there were 1 red company (distress zone), 1 gray company (gray area), and 2 green companies (safe zone). In 2016-2018 there were 1 gray company (gray area), and 3 green companies (safe zone). Meanwhile, in the financial prediction using the Springate method, all cigarette sub-sector companies for the 2015-2018 period are in the healthy category or have no financial problems.

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Published
2021-02-10
How to Cite
Sidik, N., & Indah, N. (2021). PREDICTION OF FINANCIAL DISTRESS IN CIGARETTE SUBSECTOR FOR 2015-2018 WITH ALTMAN Z-SCORE AND SPRINGATE METHODS. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 5(1), 614-624. https://doi.org/10.31955/mea.vol5.iss1.pp614-624