The Effect Of Financial Performance On Financial Distress Condition As Early Warning System At Pt.Centra Protenia Prima.Tbk
Yulistina Yulistina, Meita Sekar Sari
Abstract
Financial distress is the stage of financial condition that occurs before bankruptcy or liquidation).Bankruptcy is defined as a failure in running operations to achieve its objectives.The company is considered bankrupt if the rate of return earned by the company is less than the total cost that must be incurred in the long run, therefore, it is necessary to evaluate the performance of the company in managing its capital which is interpreted in thebusiness bankruptcy analysis (bankruptcy prediction), done by predicting the bankruptcy of companies using early warning model (early warning system) This research was conducted at PT.Centra Protenia Prima.Tbk with the aim to know the effect of operating cash flow, likuditas, leverage, profit margin to the condition of financial distress (bankruptcy) by using model Almant Z Score.The results of this study is concluded that operating cash flow has no effect on the condition of financial ditress (bankruptcy) while likuditas, leverage, profit margin effect on financial condition ditress (bankruptcy)
Keywords
Cash Flow Operation, Liquidity, Leverage, Profit Margin and Financial Distress
References
Brigham, Eugene F; & Houston, Joel F. (2013). Fundamental Financial Management Salemba 4. Jakarta
Emrinaldi. (2007). Influence Analysis of Corporate Governance Practices on Financial Distress: An Empirical Study. Journal of Business and Accounting (9) 1: 88-104
Hidayat, Muhammad Arief. (2014). Financial Distress Predictions Manufacturing Companies In Indonesia (Empirical Study of Manufacturing Companies Listed on Indonesia Stock Exchange Period 2008-2012). Diponergoro University. Semarang
Harahap, Sofyan Syafri . (2009). Critical Analysis of Financial Statements. Raja GrafindoPersada. Jakarta
I Masud, Srengga (2012). Financial Ratio Analysis To Predict Financial Distress Condition Of Manufacturing Companies BEI. Jurnal Accounting Universitas Jember
Kamaludin, Pribadi, Karina Ayu (2011). Financial Distress Prediction Manufacturing Imdustry Case Approach Logistic Regression Model. Jurnal Ilmiah STIE MDP (1)
Kartikawati,S. (2008). Z-Score Analysis In Measuring Financial Perfomance To Predict Financial Distress At Seven Manufackturing Companies In The BEI. Jurnal Penelitian.Universitas Gunadarma. Jakarta
Kieso et al. (2008) . Akunatansi Intermediate. Edisi 12 .Jakarta :Erlangga
Kristijadi, Almilia Luciana S. (2003). Financial Ratio Analysis To Predict Financial Distress Conditional Manufacturing Companies Listed on the Jakarta Stock Exchange.
Munawir S.. 2007. Financial Statement Analysis. Edisi Ke Empat.Liberty.Yogyakarta
Nazir, M. (2013). Research Methods.Bogor. Ghalia Indonesia
Rudianto. (2013). Accounting Information Management For Strategic Decision Making. Erlangga. Jakarta.
Reeveet.al. (2012). Introduction Accounting Adaptation Indonesia Book2. Salemba 4. Jakarta
Vitarianjani. Novedea. (2015). Financial Distress Prediction Analysis and Factors Affecting Empirical Studies on Coal Companies Listedon IDX Year 2011-2014. Journal of Accounting, Faculty of Economics,University of Jember. Student Scientific Articles 2015.
DOI: https://doi.org/10.24967/saburaiijssd.v1i2.251
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Yulistina Yulistina, Meita Sekar SariAbstract
Keywords
References
Brigham, Eugene F; & Houston, Joel F. (2013). Fundamental Financial Management Salemba 4. Jakarta
Emrinaldi. (2007). Influence Analysis of Corporate Governance Practices on Financial Distress: An Empirical Study. Journal of Business and Accounting (9) 1: 88-104
Hidayat, Muhammad Arief. (2014). Financial Distress Predictions Manufacturing Companies In Indonesia (Empirical Study of Manufacturing Companies Listed on Indonesia Stock Exchange Period 2008-2012). Diponergoro University. Semarang
Harahap, Sofyan Syafri . (2009). Critical Analysis of Financial Statements. Raja GrafindoPersada. Jakarta
I Masud, Srengga (2012). Financial Ratio Analysis To Predict Financial Distress Condition Of Manufacturing Companies BEI. Jurnal Accounting Universitas Jember
Kamaludin, Pribadi, Karina Ayu (2011). Financial Distress Prediction Manufacturing Imdustry Case Approach Logistic Regression Model. Jurnal Ilmiah STIE MDP (1)
Kartikawati,S. (2008). Z-Score Analysis In Measuring Financial Perfomance To Predict Financial Distress At Seven Manufackturing Companies In The BEI. Jurnal Penelitian.Universitas Gunadarma. Jakarta
Kieso et al. (2008) . Akunatansi Intermediate. Edisi 12 .Jakarta :Erlangga
Kristijadi, Almilia Luciana S. (2003). Financial Ratio Analysis To Predict Financial Distress Conditional Manufacturing Companies Listed on the Jakarta Stock Exchange.
Munawir S.. 2007. Financial Statement Analysis. Edisi Ke Empat.Liberty.Yogyakarta
Nazir, M. (2013). Research Methods.Bogor. Ghalia Indonesia
Rudianto. (2013). Accounting Information Management For Strategic Decision Making. Erlangga. Jakarta.
Reeveet.al. (2012). Introduction Accounting Adaptation Indonesia Book2. Salemba 4. Jakarta
Vitarianjani. Novedea. (2015). Financial Distress Prediction Analysis and Factors Affecting Empirical Studies on Coal Companies Listedon IDX Year 2011-2014. Journal of Accounting, Faculty of Economics,University of Jember. Student Scientific Articles 2015.