ANALISIS KEBANGKRUTAN UJI Z-SCORE ALTMAN PADA PT AIR ASIA INDONESIA TBK MENGGUNAKAN MODEL ALTMAN Z-SCORE TAHUN 2018-2022

Aditya Fadillah Azka, Nabiilah Nabiilah, Sekar Natasya Prameswari, Muyassaroh Muyassaroh

Abstract


This research analyzes the potential bankruptcy of PT Air Asia Indonesia Tbk using the Z-Score model, focusing on critical financial ratios such as working capital, retained earnings, and share capitalization value. The results show that this company is indicated to have the potential for bankruptcy during the 2018-2022 period, with a Z-Score value below the threshold. Factors such as falling stock prices, plane crashes, and lack of retained earnings contribute to financial difficulties. This research highlights the need for managerial changes to address financial challenges and restore company performance. In conclusion, PT Air Asia Indonesia Tbk needs to take effective preventive measures to ensure long-term sustainability and growth.

Keywords: Altman Z-Score, Bankruptcy Potential, Company Performance, Financial Management, Financial Ratios


Full Text:

PDF

References


Afandi, A. M. A. (2019). Prediksi Kebangkrutan (Financial Distress) Perusahaan Penerbangan PT Garuda Indonesia (Persero). Doctoral Dissertation, Universitas Internasional Semen Indonesia.

Altman, E. I. (1968). FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY. The Journal of Finance, 23(4), 589–609. https://doi.org/10.1111/j.1540-6261.1968.tb00843.x

Azka, A. F., & Aisyah, N. (2024). ERPNext for Effective Budgeting: Overcoming project Financial management Challenges in System Integrator Company. adpebipublishing.com. https://doi.org/10.54099/ass.v1i1.371

Azka, A. F., & Harahap, L. (2023). MEMPERKUAT SISTEM PENGENDALIAN MANAJEMEN PERUSAHAAN MELALUI TATA KELOLA BAIK. TRILOGI ACCOUNTING AND BUSINESS RESEARCH, 4(2), https://doi.org/10.31326/tabr.v4i2.1823

Azka, A. F., Pratiwi, A. M., Safira, A. P., Ulhaq, G. M. D., & Novita, N. (2023). CAN GOOD GOVERNANCE IN MOSQUES INCREASE THE PROSPERITY OF MOSQUES IN THE 4.0 ERA? Applied Accounting and Management Review, 1(2), 46. https://doi.org/10.32497/aamar.v1i2.4173

Bilondatu, D. N., Dungga, M. F., & Selvi, S. (2019). Analisis Model Altman Z-Score, Springate, dan Zmijewski Sebagai Metode dalam Memprediksi Kondisi Kebangkrutan pada PT. Garuda Indonesia, Tbk Periode 2014-2018. Jurnal Aplikasi Manajemen Dan Inovasi Bisnis, 2(1), 40. https://doi.org/10.47201/jamin.v2i1.35

Febrina, F., & Rachmawati, N. A. (2023). Diversity of Book-Tax Conformity in Asean 4: Philippines, Indonesia, Malaysia, and Singapore. Jurnal Akuntansi dan Bisnis, 23(1).

Fitria, S. M., & Novita, N. (2020). Six Sigma Sebagai Strategi Bisnis Dalam Upaya Peningkatan Kualitas Produk. Jati: Jurnal Akuntansi Terapan Indonesia, 3(1), 1- 14. https://doi.org/10.18196/jati.030121

Fitriyah, N. (2020). Analisis Financial Distress Menggunakan Metode Altman Z Score, Springate, Grover, dan Zmijewsky Untuk Memprediksi Kebangkrutan Pada Perusahaan Transportasi.

Hanafi, I. (2018). PREDIKSI FINANCIAL DISTRESS PERUSAHAANMANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA. https://ejournal.kahuripan.ac.id/index.php/Ekuivalensi/article/view/75

Kasmir. 2015. Analisis Laporan Keuangan. Jakarta: Rajawali Pers.

Korry, I. K. T. S., Dewi, M. P., & Ningsih, N. L. a. P. (2019). ANALISIS PREDIKSI KEBANGKRUTAN BERDASARKAN METODE ALTMAN Z-SCORE (STUDI KASUS PADA BANK BUMN YANG TERDAFTAR DI BEI). Buletin Studi Ekonomi, 191. https://doi.org/10.24843/bse.2019.v24.i02.p03

Lastiati, A., Siregar, S. V., & Diyanty, V. (2020). Tax Avoidance and Cost of Debt: Ownership Structure and Corporate Governance. Pertanika Journal of Social Sciences & Humanities, 28(1).

Lubis, A. F. (2009). Pengaruh Perubahan Struktur Modal dan Dividen Pay Out Ratio terhadap Perubahan Harga Saham pada Lembaga Keuangan di Bursa Efek Indonesia. https://repositori.usu.ac.id/handle/123456789/36478?show=full

Mandalurang, J. (2019). ANALISIS KEBANGKRUTAN DENGAN MENGGUNAKAN METODE ALTMAN DAN SPRINGATE PADA INDUSTRI PERDAGANGAN RITEL YANG TERDAFTAR DI BEI PERIODE 2014-2018 | Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi. ejournal.unsrat.ac.id. https://doi.org/10.35794/emba.v7i3.25087

Nugraha, A., & Fajar, C. M. (2018). Financial Distress pada PT Panasia Indo Resources Tbk. Jurnal Inspirasi Bisnis Dan Manajemen, 2(1), 29. https://doi.org/10.33603/jibm.v2i1.1055

Rachmawati, N. A., & Martani, D. (2014). Pengaruh large positive abnormal book-tax differences terhadap persistensi laba. Jurnal Akuntansi dan Keuangan Indonesia, 11(2), 1.

Rachmawati, N. A., & Martani, D. (2017). Book-tax conformity level on the relationship between tax reporting aggressiveness and financial reporting aggressiveness. Australasian Accounting, Business and Finance Journal, 11(4), 86-101.

Rachmawati, N. A., Gani, L., & Rossieta, H. (2017). Loyalitas nasabah dan kinerja perBankan di indonesia. Jurnal Keuangan dan Perbankan, 21(1), 144-156.

Rachmawati, N. A., Ramayanti, R., & Setiawan, R. (2021). Tingkat Kesadaran dan Kesiapan Pelaku Umkm Dalam Menyusun Laporan Keuangan dan Pajak. Jurnal Akuntansi dan Bisnis, 21(2).

Rachmawati, N. A., Utama, S., & Siregar, S. V. N. P. (2020a). Persistensi Laba Antar Level Kompetisi Industri: Studi Empiris pada Perusahaan Amerika Serikat. Jurnal Akuntansi dan Bisnis, 20(1), 1-16.

Rachmawati, N. A., Utama, S., Martani, D., & Wardhani, R. (2019). Determinants of the complementary level of financial and tax aggressiveness: a cross-country study. International Journal of Managerial and Financial Accounting, 11(2), 145-166.

Rachmawati, N. A., Utama, S., Martani, D., & Wardhani, R. (2020b). Do country characteristics affect the complementary level of financial and tax aggressiveness?. Asian Academy of Management Journal of Accounting & Finance, 16(1).

Rachmawati, N. A., Utama, S., Martani, D., & Wardhani, R. (2023). Complementary level of financial and tax aggressiveness and the impact on cost of debt: A cross-country study. South African Journal of Accounting Research, 37(3), 161-176.

Ramayanti, R., Rachmawati, N. A., Azhar, Z., & Azman, N. H. N. (2023). Exploring intention and actual use in digital payments: A systematic review and roadmap for future research. Computers in Human Behavior Reports, 100348.

Ratna, I., & Marwati, M. (2018). ANALISIS FAKTOR- FAKTOR YANG MEMPENGARUHI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN YANG DELISTING DARI JAKARTA ISLAMIC INDEX TAHUN 2012-2016. Jurnal Tabarru’, 1(1), 51–62. https://doi.org/10.25299/jtb.2018.vol1(1).2044

Sahri, N. A., & Novita. (2019). Kaizen Costing Sebagai Perbaikan Berkelanjutan Untuk Meningkatkan Keunggulan Bersaing Pada E-Commerce. Jurnal Kajian Akuntansi, 3(1), 18–43.

Soraya, L. R., & Rachmawati, N. A. (2021). Determinats Of The Amount Of Related Party Transaction: Tax Expense And Institutional Ownership. Jurnal Reviu Akuntansi Dan Keuangan, 11(1), 30-39.

Subramanyam, K.R. 2017. Analisis Laporan Keuangan. Jakarta: Salemba Empat.

Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung: Alfabeta

Sutra, F. M., & Mais, R. G. (2019). Faktor-Faktor yang Mempengaruhi Financial Distress dengan Pendekatan Altman Z-Score pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2017. Jurnal Akuntansi Dan Manajemen, 16(01), 34–72. https://doi.org/10.36406/jam.v16i01.267

Wahyuni, R. S., & Novita, N. (2021). COSO ERM Framework as the Basis of Strategic Planning in Islamic Banking. Jurnal Keuangan dan Perbankan, 25(1), 21-35.

Zamzami, M., & Novita, N. (2021). Apakah Gemba Kaizen Mampu Meningkatkan Kinerja Nonkeuangan Perguruan Tinggi?. Jurnal Akuntansi Multiparadigma, 12(1), 207-220.




DOI: https://doi.org/10.31326/tabr.v5i1.2042

Refbacks

  • There are currently no refbacks.


View My Stats