Cooperative financial evaluation using altman z-score to identifying financial distress
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Published:
Aug 30, 2023
Keywords:
Altman Z-Score Model, Cooperative financial Evaluation, Financial distress analysis
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Decision Support System
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Abstract
Cooperatives have become an essential form of economic organization throughout the world, providing their members with a vast array of services and benefits. Nonetheless, economic fluctuations and business insecurity can place many cooperatives in a financial bind. Therefore, a thorough financial evaluation is required to identify potential issues and implement preventative measures. This research examines Karya Mandiri Cooperative as an illustration of an at-risk savings and loan cooperative. This study employs the Modified Altman Z-Score model to identify cooperatives experiencing financial distress. Using financial statements from 2020 to 2022, the Modified Altman Z-Score Method on cooperative financial statements yields safe prediction results. The predicted Z value between 2020 and 2022 has increased from 6.76 in 2020 to 8.33 in 2022. The assessment of the cooperative's health level demonstrates a significant shift from 2020, resulting in a cut-off value of 6.76 and a classification as "quite healthy" in terms of cooperative health, to 2021, resulting in a cut-off value of 7.79 and a classification as "quite healthy" in terms of cooperative health, and to 2022, resulting in a cut-off value of 8.33 and a classification as "healthy" in terms of cooperative health.
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How to Cite
Olimsar, F., Mokoagow, I. ., Anggraini, F. D. ., Mokoginta, H. and Mokoginta, M. N. S. . (2023) “Cooperative financial evaluation using altman z-score to identifying financial distress”, Jurnal Mantik, 7(2), pp. 1302-1309. doi: 10.35335/mantik.v7i2.4027.
References
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Boari, Y., Ilindamon, A., Mikir, A. W., & Twenty, A. L. (2022). PENDAMPINGAN LAPORAN PEMBUKUAN SEDERHANA PADA USAHA AYAM GEPREK INDOKANGWE DI KELURAHAN VIM. Community Development Journal: Jurnal Pengabdian Masyarakat, 3(3), 1934–1937.
Boari, Y., Ilindamon, A., & Rumaropen, L. D. (2022). PERAN KELOMPOK USAHA NELAYAN DALAM MENINGKATKAN PENDAPATAN NELAYAN DI DESA ADOKI DISTRIK YENDIDORI KABUPATEN BIAK NUMFOR. Journal of Economics Review (JOER), 2(2), 61–73.
Goh, E., Mat Roni, S., & Bannigidadmath, D. (2022). Thomas Cook (ed): using Altman’s z-score analysis to examine predictors of financial bankruptcy in tourism and hospitality businesses. Asia Pacific Journal of Marketing and Logistics, 34(3), 475–487.
Herawaty, N., Sakdiah, H., & Olimsar, F. (2023). PENGARUH SISTEM INFORMASI AKUNTANSI, SISTEM PENGENDALIAN INTERNAL DAN KINERJA PEGAWAI TERHADAP KARAKTERISTIK LAPORAN KEUANGAN. CURRENT: Jurnal Kajian Akuntansi Dan Bisnis Terkini, 4(2), 310–322.
Manaseer, S., & Al-Oshaibat, S. D. (2018). Validity of Altman Z-score model to predict financial failure: Evidence from Jordan. International Journal of Economics and Finance, 10(8).
Maryani, E., & Adiprasetio, J. (2018). Literasi. co sebagai Media Alternatif dan Kooperasi Akar Rumput. Jurnal Kajian Komunikasi, 6(2), 261–276.
Mokoagow, I. (2018). PENGARUH SISTEM AKUNTANSI PEMERINTAH DAERAH TERHADAP AKUNTABILITAS KINERJA INSTANSI PEMERINTAH DAERAH KABUPATEN BOLAANG MONGONDOW TIMUR. Jurnal Manajemen Dan Bisnis, 2(3).
Mokodenseho, S., & Puspitaningrum, T. L. (2022). Relasi sosial-ekonomi dan kekuasaan antara rentenir dan pedagang pasar tradisional di jawa tengah. Politika: Jurnal Ilmu Politik, 13(1), 41–58.
Mokoginta, H. (2022). ANALISA KINERJA KEUANGAN PADA PT. BANK RAKYAT INDONESIA (BRI) UNIT POYOWA BESAR. JISMA: Jurnal Ilmu Sosial, Manajemen, Dan Akuntansi, 1(3), 175–190.
Muhammadiah, M. ud, & Amin, K. F. (2020). Ethical Multicultural Values in Poetry: A Hermeneutics Examination.
Natsir, M., & Mokoginta, S. (2020). Penerapan Total Quality Manajemen Terhadap Efektivitas Pelayanan Karyawan Pada Rumah Sakit Umum Monompia Kotamobagu. Jurnal Ilmiah Universitas Teknologi Sulawesi Utara, 8(2), 9–17.
Ningsih, S., & Permatasari, F. F. (2018). Analysis method of Altman Z score modifications to predict financial distress on the company go public sub sector of the automotive and components. International Journal of Economics, Business and Accounting Research (IJEBAR), 2(03).
Oktaviana, Y. A., Satwika, I. P., & Utami, N. W. (2022). PERANCANGAN SISTEM INFORMASI EVALUASI KINERJA DOSEN BERBASIS WEBSITE (STUDI KASUS STMIK PRIMAKARA). Jurnal Krisnadana, 1(3), 1–14.
Olimsar, F. (2021). PENGARUH KESULITAN KEUANGAN DAN PROFITABILITAS TERHADAP KECEPATAN PUBLIKASI LAPORAN KEUANGAN TAHUNAN (STUDI EMPIRIS PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016-2018). Jambi Accounting Review (JAR), 2(3), 280–294.
Paputungan, S. (2022). PENGARUH LINGKUNGAN KERJA TERHADAP SEMANGAT KERJA PEGAWAI PADA KANTOR DINAS PERTANIAN DAN PETERNAKAN KABUPATEN BOLAANG MONGONDOW. JISMA: Jurnal Ilmu Sosial, Manajemen, Dan Akuntansi, 1(3), 113–122.
Ramadhan, A., Sam, I., & Olimsar, F. (2023). Analisis Kinerja Keuangan Pemerintah Kabupaten Merangin Tahun 2018-2021. Journal of Student Research, 1(4), 104–118.
Revini Pranata, N. F., Safelia, N., MAULANA ZULMA, G. W., Tiswiyanti, W., & Olimsar, F. (2023). Accounting Analysis of Raudhatul Muhajirin Islamic Boarding School Jambi Based on Boarding Accounting Guidelines. Internasional Journal of Integrative Sciences (IJIS), 1(4), 205–218.
Sadikin, A. (2020a). Ethno-methodology study: Entrepreneurial resilience of Urang Banjar in South Kalimantan as the efforts to improve local economic sustainability in digitalization industry 4.0 era.
Sadikin, A. (2020b). Resiliensi Entrepreneurship Etnis Urang Banjar (Studi Etnometodologi Di Kalimantan Selatan). Universitas Brawijaya.
Sadikin, A., Junianto, P., Arifin, L., Anantadjaya, S. P. D., Rosari, R., & Hidayat, A. R. (2022). THE ROLE OF ACCOUNTANTS’STRATEGY IN STRUCTURING BANK PERFORMANCE TOWARDS A SUSTAINABLE CREATIVE ECONOMY IN INDONESIA. MULTICULTURAL EDUCATION, 8(02), 120–132.
Sadikin, A., Naim, S., Asmara, M. A., Hierdawati, T., & Boari, Y. (2023). Innovative strategies for MSME business growth with the business model canvas approach. Enrichment: Journal of Management, 13(2), 1478–1484.
Sadikin, A., Yodiansyah, H., Budiasih, Y., Sugiarti, S., & Kusnadi, I. H. (2023). ADAPTIVE HUMAN RESOURCE MANAGEMENT IN CONFRONTATION OF GLOBALIZATION’S CHALLENGES. Jurnal Ekonomi, 12(02), 1761–1767.
Safelia, N., Brilliant, A. B., Yetti, S., & Olimsar, F. (2022). Investigating Apparatus Competence and Organizational Commitment for the Village Financial System. International Journal of Finance & Banking Studies (2147-4486), 11(4), 37–46.
Sudipa, I. G. I., & Sudiani, N. M. (2019). Sistem Pendukung Keputusan Menggunakan Metode Profile Matching Untuk Penentuan Pemberian Kredit (Studi Kasus: KSP Werdhi Mekar Sari Sedana). Jurnal Sistem Informasi Dan Komputer Terapan Indonesia (JSIKTI). https://doi.org/10.33173/jsikti.23
Toly, A. A., Permatasari, R., & Wiranata, E. (2019). The effect of financial ratio (Altman z-score) on financial distress prediction in manufacturing sector in indonesia 2016-2018. Petra Christian University.
Werdiningsih, R., Khasanah, S. P., Kom, M., Eki Tiyas Nurulia, M. E., Yusnaini, S. E., Darnilawati, S. E., Muhamad, L. F., MM, M. P., Sonani, N., & MM, S. E. (2023). Digitalisasi Manajemen Koperasi dan UMKM. Cendikia Mulia Mandiri.
Wiguna, I. K. A. G., Semadi, K. N., Sudipa, I. G. I., & Septiawan, I. K. J. (2022). Analisis Sensitivitas Prioritas Kriteria Pada Metode Analytical Hierarchy Process (Kasus Penentuan Pemberian Kredit). J-SAKTI (Jurnal Sains Komputer Dan Informatika), 6(1), 1–11.
Wijaya, B. K. et al. (2022). SISTEM PENENTUAN KEPUTUSAN KELAYAKAN PENERIMA KREDIT MENGGUNAKAN METODE ROC-SAW: DECISION ELIGIBILITY DECISION SYSTEM OF CREDIT RECEIVER USING ROC-SAW METHOD. Jurnal Ilmiah Sistem Informasi Dan Ilmu Komputer, 2(2), 16–29.
Wu, D., Ma, X., & Olson, D. L. (2022). Financial distress prediction using integrated Z-score and multilayer perceptron neural networks. Decision Support Systems, 159, 113814.
Zuhriyah, F., Naim, S., Rahmanudin, D., Widjayanto, F., & Mokodenseho, S. (2022). The role of village government policies in improving the economy in sumbermulyo village. Jurnal Kewarganegaraan, 6(2), 3975–3983.
Anggraini, F. D. (2020). THE EFFECT OF ENTRY SELECTION PATH AND FAMILY ENVIRONMENT ON ACCOUNTING STUDENTS’LEARNING ACHIEVEMENT WITH LEARNING MOTIVATION AS INTERVENING VARIABLE. Erudio Journal of Educational Innovation, 6(2), 233–247.
Anggraini, F. D., & Khairunnisa, K. (2022). PENGARUH KEADILAN, SOSIALISASI, DAN SANKSI PAJAK TERHADAP KEPATUHAN WAJIB PAJAK. Jurnal Ilmiah Ekonomi Global Masa Kini, 13(1), 52–58.
Arsyad, U. R., Supatminingsih, T., & HASAN, M. (2022). ANALISIS PENILAIAN TINGKAT KESEHATAN KOPERASI SIMPAN PINJAM DI KOTA MAKASSAR DITINJAU DARI NON PERFORMING LOAN (NPL) PADA TAHUN 2020-2021: STUDI KASUS PADA KOPERASI SIMPAN PINJAM BERKAT BULUKUMBA CABANG ANTANG. JURNAL EKONOMI, SOSIAL & HUMANIORA, 4(03), 102–116.
Boari, Y., Ilindamon, A., Mikir, A. W., & Twenty, A. L. (2022). PENDAMPINGAN LAPORAN PEMBUKUAN SEDERHANA PADA USAHA AYAM GEPREK INDOKANGWE DI KELURAHAN VIM. Community Development Journal: Jurnal Pengabdian Masyarakat, 3(3), 1934–1937.
Boari, Y., Ilindamon, A., & Rumaropen, L. D. (2022). PERAN KELOMPOK USAHA NELAYAN DALAM MENINGKATKAN PENDAPATAN NELAYAN DI DESA ADOKI DISTRIK YENDIDORI KABUPATEN BIAK NUMFOR. Journal of Economics Review (JOER), 2(2), 61–73.
Goh, E., Mat Roni, S., & Bannigidadmath, D. (2022). Thomas Cook (ed): using Altman’s z-score analysis to examine predictors of financial bankruptcy in tourism and hospitality businesses. Asia Pacific Journal of Marketing and Logistics, 34(3), 475–487.
Herawaty, N., Sakdiah, H., & Olimsar, F. (2023). PENGARUH SISTEM INFORMASI AKUNTANSI, SISTEM PENGENDALIAN INTERNAL DAN KINERJA PEGAWAI TERHADAP KARAKTERISTIK LAPORAN KEUANGAN. CURRENT: Jurnal Kajian Akuntansi Dan Bisnis Terkini, 4(2), 310–322.
Manaseer, S., & Al-Oshaibat, S. D. (2018). Validity of Altman Z-score model to predict financial failure: Evidence from Jordan. International Journal of Economics and Finance, 10(8).
Maryani, E., & Adiprasetio, J. (2018). Literasi. co sebagai Media Alternatif dan Kooperasi Akar Rumput. Jurnal Kajian Komunikasi, 6(2), 261–276.
Mokoagow, I. (2018). PENGARUH SISTEM AKUNTANSI PEMERINTAH DAERAH TERHADAP AKUNTABILITAS KINERJA INSTANSI PEMERINTAH DAERAH KABUPATEN BOLAANG MONGONDOW TIMUR. Jurnal Manajemen Dan Bisnis, 2(3).
Mokodenseho, S., & Puspitaningrum, T. L. (2022). Relasi sosial-ekonomi dan kekuasaan antara rentenir dan pedagang pasar tradisional di jawa tengah. Politika: Jurnal Ilmu Politik, 13(1), 41–58.
Mokoginta, H. (2022). ANALISA KINERJA KEUANGAN PADA PT. BANK RAKYAT INDONESIA (BRI) UNIT POYOWA BESAR. JISMA: Jurnal Ilmu Sosial, Manajemen, Dan Akuntansi, 1(3), 175–190.
Muhammadiah, M. ud, & Amin, K. F. (2020). Ethical Multicultural Values in Poetry: A Hermeneutics Examination.
Natsir, M., & Mokoginta, S. (2020). Penerapan Total Quality Manajemen Terhadap Efektivitas Pelayanan Karyawan Pada Rumah Sakit Umum Monompia Kotamobagu. Jurnal Ilmiah Universitas Teknologi Sulawesi Utara, 8(2), 9–17.
Ningsih, S., & Permatasari, F. F. (2018). Analysis method of Altman Z score modifications to predict financial distress on the company go public sub sector of the automotive and components. International Journal of Economics, Business and Accounting Research (IJEBAR), 2(03).
Oktaviana, Y. A., Satwika, I. P., & Utami, N. W. (2022). PERANCANGAN SISTEM INFORMASI EVALUASI KINERJA DOSEN BERBASIS WEBSITE (STUDI KASUS STMIK PRIMAKARA). Jurnal Krisnadana, 1(3), 1–14.
Olimsar, F. (2021). PENGARUH KESULITAN KEUANGAN DAN PROFITABILITAS TERHADAP KECEPATAN PUBLIKASI LAPORAN KEUANGAN TAHUNAN (STUDI EMPIRIS PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016-2018). Jambi Accounting Review (JAR), 2(3), 280–294.
Paputungan, S. (2022). PENGARUH LINGKUNGAN KERJA TERHADAP SEMANGAT KERJA PEGAWAI PADA KANTOR DINAS PERTANIAN DAN PETERNAKAN KABUPATEN BOLAANG MONGONDOW. JISMA: Jurnal Ilmu Sosial, Manajemen, Dan Akuntansi, 1(3), 113–122.
Ramadhan, A., Sam, I., & Olimsar, F. (2023). Analisis Kinerja Keuangan Pemerintah Kabupaten Merangin Tahun 2018-2021. Journal of Student Research, 1(4), 104–118.
Revini Pranata, N. F., Safelia, N., MAULANA ZULMA, G. W., Tiswiyanti, W., & Olimsar, F. (2023). Accounting Analysis of Raudhatul Muhajirin Islamic Boarding School Jambi Based on Boarding Accounting Guidelines. Internasional Journal of Integrative Sciences (IJIS), 1(4), 205–218.
Sadikin, A. (2020a). Ethno-methodology study: Entrepreneurial resilience of Urang Banjar in South Kalimantan as the efforts to improve local economic sustainability in digitalization industry 4.0 era.
Sadikin, A. (2020b). Resiliensi Entrepreneurship Etnis Urang Banjar (Studi Etnometodologi Di Kalimantan Selatan). Universitas Brawijaya.
Sadikin, A., Junianto, P., Arifin, L., Anantadjaya, S. P. D., Rosari, R., & Hidayat, A. R. (2022). THE ROLE OF ACCOUNTANTS’STRATEGY IN STRUCTURING BANK PERFORMANCE TOWARDS A SUSTAINABLE CREATIVE ECONOMY IN INDONESIA. MULTICULTURAL EDUCATION, 8(02), 120–132.
Sadikin, A., Naim, S., Asmara, M. A., Hierdawati, T., & Boari, Y. (2023). Innovative strategies for MSME business growth with the business model canvas approach. Enrichment: Journal of Management, 13(2), 1478–1484.
Sadikin, A., Yodiansyah, H., Budiasih, Y., Sugiarti, S., & Kusnadi, I. H. (2023). ADAPTIVE HUMAN RESOURCE MANAGEMENT IN CONFRONTATION OF GLOBALIZATION’S CHALLENGES. Jurnal Ekonomi, 12(02), 1761–1767.
Safelia, N., Brilliant, A. B., Yetti, S., & Olimsar, F. (2022). Investigating Apparatus Competence and Organizational Commitment for the Village Financial System. International Journal of Finance & Banking Studies (2147-4486), 11(4), 37–46.
Sudipa, I. G. I., & Sudiani, N. M. (2019). Sistem Pendukung Keputusan Menggunakan Metode Profile Matching Untuk Penentuan Pemberian Kredit (Studi Kasus: KSP Werdhi Mekar Sari Sedana). Jurnal Sistem Informasi Dan Komputer Terapan Indonesia (JSIKTI). https://doi.org/10.33173/jsikti.23
Toly, A. A., Permatasari, R., & Wiranata, E. (2019). The effect of financial ratio (Altman z-score) on financial distress prediction in manufacturing sector in indonesia 2016-2018. Petra Christian University.
Werdiningsih, R., Khasanah, S. P., Kom, M., Eki Tiyas Nurulia, M. E., Yusnaini, S. E., Darnilawati, S. E., Muhamad, L. F., MM, M. P., Sonani, N., & MM, S. E. (2023). Digitalisasi Manajemen Koperasi dan UMKM. Cendikia Mulia Mandiri.
Wiguna, I. K. A. G., Semadi, K. N., Sudipa, I. G. I., & Septiawan, I. K. J. (2022). Analisis Sensitivitas Prioritas Kriteria Pada Metode Analytical Hierarchy Process (Kasus Penentuan Pemberian Kredit). J-SAKTI (Jurnal Sains Komputer Dan Informatika), 6(1), 1–11.
Wijaya, B. K. et al. (2022). SISTEM PENENTUAN KEPUTUSAN KELAYAKAN PENERIMA KREDIT MENGGUNAKAN METODE ROC-SAW: DECISION ELIGIBILITY DECISION SYSTEM OF CREDIT RECEIVER USING ROC-SAW METHOD. Jurnal Ilmiah Sistem Informasi Dan Ilmu Komputer, 2(2), 16–29.
Wu, D., Ma, X., & Olson, D. L. (2022). Financial distress prediction using integrated Z-score and multilayer perceptron neural networks. Decision Support Systems, 159, 113814.
Zuhriyah, F., Naim, S., Rahmanudin, D., Widjayanto, F., & Mokodenseho, S. (2022). The role of village government policies in improving the economy in sumbermulyo village. Jurnal Kewarganegaraan, 6(2), 3975–3983.
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