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Jul 22, 2023
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Aug 31, 2022
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Abstract

The Covid-19 pandemic has changed the order of the wor­ld economy, which allows for financial distress (fin­a­n­ci­al distress) in a company. This study aims to determine the financial distress condition of companies in the consumer cyclicals sector in 2018-2021 using the Altman, Springate, Zmijewski, Grover, and Taffler models. In addition, to find out the difference in financial distress before the Covid-19 pandemic occurred with during the Covid-19 pandemic and the level of accuracy of each model used. This research is a type of quantitative research using a purposive sampling te­ch­nique so 66 samples were selected. The data used is se­con­dary data, in the form of financial statements for 2018-2021. The results of the study show that there are diffe­ren­ces in each of the financial distress prediction models used. The results of the average difference test (paired simple T-test) from the prediction model used only the Altman model which shows no difference in financial distress conditions before the Covid-19 pandemic occurred during the Covid-19 pandemic. Meanwhile, the Springate, Zmijewski, Grover, and Taffler models show differences in financial distress con­ditions. The accuracy level of the Altman model is 87.88%, Taffler 83.71%, Grover 74.24%, Springate 73.48%, and Zmijewski 68.18%. So it can be concluded that the Alt­man model is the model with the highest level of accuracy in predicting financial distress in the consumer cyclicals sector of companies.

Keywords

consumer cyclicals financial distress altman zpringates zmijewski grover taffler covid-19 pandemic

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Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Licensed under Creative Commons License a Creative Commons Attribution-NonCommercial 4.0 International License

How to Cite
Mustafa, I., Rahmatika, D. N., & Akyuwen, R. (2022). Analysis of Financial Distress with The Altman, Springate, Zmijewski, Grover, and Taffler Models in The Consumer Cyclicals Sector in The Covid-19 Pandemic. Permana : Jurnal Perpajakan, Manajemen, Dan Akuntansi, 14(2), 326-333. Retrieved from https://permana.upstegal.ac.id/index.php/permana/article/view/316

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