Bankruptcy Analysis Using the Altman Z-Score Method at the Service Company PT Arya Mahawira Sejahtera

Artika Sari, Ni Made Santi and Yintayani, Ni Nyoman and Sarjana, I Made (2022) Bankruptcy Analysis Using the Altman Z-Score Method at the Service Company PT Arya Mahawira Sejahtera. Repository Politeknik Negeri Bali.

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Abstract

This study aims to analyze and find out the prediction of bankruptcy and its causes in service companies engaged in hospi-tality accommodation, namely PT Arya Mahawira Sejahtera for the 2019-2021 period and present the company's perfor-mance in avoiding the risk of bankruptcy. This research is classified as a qualitative research case study that applies ratio analysis theory. In this study, primary data was used, namely unstructured interviews and data in the form of financial statement documents of PT Arya Mahawira Sejahtera for the 2019-2021 period. Data analysis was carried out using ratio analysis with the Altman Z-Score method in a descriptively interpretive manner. The results of the analysis show that the financial condition of PT Arya Mahawira Sejahtera is in a bad condition. The Z-Score obtained was in 2019 of 0.870, in 2020 it was -1.626, and in 2021 it was -2.631 which from 2019 to 2020 the score obtained by the company decreased drastically and The condition of the company indicated bankruptcy is due to the ratio of working capital to total assets (X1), Retained earnings to Total assets (X2), Earnings before interest and taxes to total assets (X3) and the ratio of market value of liabil-ity to total liabilities (X4) which tends to be negative and decreases every year. Efforts to improve performance continue to be carried out by PT Arya Mahawira Sejahtera in company operations, marketing, and anti-corruption policies so that the company can avoid bankruptcy conditions.

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