Metrika

  • citati u SCIndeksu: 0
  • citati u CrossRef-u:0
  • citati u Google Scholaru:[]
  • posete u poslednjih 30 dana:36
  • preuzimanja u poslednjih 30 dana:22

Sadržaj

članak: 2 od 3  
Back povratak na rezultate
2021, vol. 69, br. 4, str. 20-29
Primena Beneish M-Score i Altman Z-Score modela kod otkrivanja finansijskih prevara i neuspeha kompanije
aUniverzitet u Beogradu, Fakultet organizacionih nauka
bUniverzitet u Kragujevcu, Fakultet za hotelijerstvo i turizam, Vrnjačka Banja
cAlfa univerzitet, Fakultet za trgovinu i bankarstvo 'Janićije i Danica Karić', Beograd
dUniverzitet Singidunum, Poslovni fakultet, Beograd

e-adresaknezevic.snezana@fon.bg.ac.rs
Ključne reči: tekstilno preduzeće; prevarno finansijsko izveštavanje; forenzički alati; otkrivanje i ispitivanje prevara; M-Score; Z-Score
Sažetak
Bankrot je rizik sa kojim može da se suoči svaka kompanija, nezavisno od njene veličine. Važnost predviđanja bankrota kompanije godinama pre njegovog razvoja je velika, a bitna je za finansijsku održivost. Finansijska nevolja važan je kriterijum za praćenje prilikom procene verovatnoće prevara kod izveštavanja. Kada kompanija posluje loše, postoji već a motivacija za uključivanje u prevarno finansijsko izveštavanje. Sve više se usvajaju raznovrsne tehnike upravljanja rizikom za otkrivanje prevarnog finansijskog izveštavanja. U radu je primenjena studija slučaja. Na osnovu javnodostupnih finansijskih podataka (obelodanjenih finansijskih izveštaja) domaćeg tekstilnog preduzeća za period 2017-2020, čije su akcije kotirane na berzi, sprovedeno je istraživanje bazirano na primeni Altmanovog Z-Score modela i Beneish M-Score modela. Nalazi u radu su pokazali da se rezultati razlikuju prema primenjenoj metodi po pitanju identifikovanja mogućnosti bankrotstva i mogućnosti nastanka prevarnih radnji u finansijskim izveštajima posmatrane kompanije. Rezultati istraživanja mogu da budu važni investitorima, revizorima, regulatorima, bankarima, poreskim i drugim državnim organima.
Reference
*** Finansijski izveštaji preduzeća A.D. DUNAV GROCKA za period od 2017. do 2020. Raspoloživo na: www.apr.gov.rs, datum pristupa 1.6. 2021
Adams, D.J. (1991) Do Corporate Failure Prediction Models Work?. International Journal of Contemporary Hospitality Management, 3(4): 25-29
Akkeren, J.V., Buckby, S., Mackenzie, M. (2013) A metamorphosis of the traditional accountant. Pacific Accounting Review, 25(2): 188-216
Ali, I., Ozari, C. (2018) Estimating the Probability of Bankruptcy Using Z-score and Distance to Default Model: An Application on Istanbul Stock Exchange. International Review of Management and Business Research, 7(2): 491-503
Ali, M.R., Rahman, M.M., Mahmud, M.S. (2016) Financial soundness of textile industry: Altman Z-score measurement. Journal of Science and Technology, 14: 8-17
Allegoric, S., Celebic, N., Cero, E., Buljubasic, E., Mekic, A. (2020) Application of Beneish M-score model on small and medium enterprises in Federation of Bosnia and Herzegovina. Eastern Journal of European Studies, 11(1): 146-163
Altman, E.I. (2017) The Evolution of the Altman Z-Score Models & Their Applications to Financial Markets. London: NYU Stern School of Business
Altman, E.I. (1968) Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. Journal of Finance, 23(4), 589-610
An, B., Suh, Y. (2020) Identifying financial statement fraud with decision rules obtained from Modified Random Forest. Data Technologies and Applications, 54(2): 235-255
Anagnostopoulou, S.C., Buhalis, D., Kountouri, I.L., Manousakis, E.G., Tsekrekos, A.E. (2020) The impact of online reputation on hotel profitability. International Journal of Contemporary Hospitality Management, 32(1): 20-39
Asiriuwa, O., Aronmwan, E.J., Uwuigbe, U., Uwuigbe, O.R. (2018) Audit committee attributes and audit quality: A benchmark analysis. Business: Theory and Practice, 19(0): 37-48
Avakumović, Č., Avakumović, J. (2009) Benčmarking u tekstilnoj industriji. IMK-14 - Istraživanje i razvoj, vol. 15, br. 1-2, str. 67-70
Barnes, P. (1987) The Analysis and Use of Financial Ratios: A Review Article. Journal of Business Finance & Accounting, 14(4): 449-461
Beneish, M.D. (1999) The Detection of Earnings Manipulation. Financial Analysts Journal, 55(5): 24-36
Beneish, M.D., Lee, C.M.C., Nichols, C.D. (2012) Fraud Detection and Expected Returns. SSRN Electronic Journal, Raspoloživo na: http://dx.doi.org/10.2139/ssrn.1998387, datum pristupa: 11.6.2021
Brown, A., Milašinović, M., Mitrović, A., Knežević, S. (2020) Are audit opinions related to bankruptcy forecasting of companies listed on the sector A: Agriculture, forestry and fisheries?. Fresenius Environmental Bulletin, 29(11): 9899-9905
Diakomihalis, M. (2012) The Accuracy of Altman's Models in Predicting Hotel Bankruptcy. International Journal of Accounting and Financial Reporting, 2(2), 96-113
Dimitrijević, D. (2020) Teze za nove strategije razvoja tekstilne i odevne industrije - deo 1. Tekstilna industrija, vol. 68, br. 4, str. 65-76
Dimitrijević, D., Jovković, B., Milutinović, S. (2020) The scope and limitations of external audit in detecting frauds in company's operations. Journal of Financial Crime, 28(3): 632-646
Dimitrijević, D., Danilović, M. (2017) Otkrivanje prevara u kompanijama u Republici Srbiji primenom Beneish-ovog modela. Anali Ekonomskog fakulteta u Subotici, br. 37, str. 311-325
Erdoğan, M., Erdoğan, E.O. (2020) Financial Statement Manipulation: A Beneish Model Application. u: Grima S., Boztepe E., Baldacchino P.J. [ur.] Contemporary Issues in Audit Management and Forensic Accounting (Contemporary Studies in Economic and Financial Analysis), Bingley: Emerald Publishing Limited, 102, 173-188
Gaganis, C. (2009) Classification techniques for the identification of falsified financial statements: A comparative analysis. Intelligent Systems in Accounting, Finance & Management, 16(3): 207-229
Hamer, M. (1983) Failure prediction: Sensitivity of classification accuracy to alternative statistical methods and variable sets. Journal of Accounting and Public Policy, 2(4): 289-307
Hołda, A. (2020) Using the Beneish M-score model: Evidence from non-financial companies listed on the Warsaw Stock Exchange. Investment Management and Financial Innovations, 17(4): 389-401
Jovanović, D., Todorović, M., Grbić, M. (2017) Financial Indicators as Predictors of Illiquidity. Romanian Journal of Economic Forecasting, 20(1): 128-149
Kanapickienė, R., Grundienė, Ž. (2015) The Model of Fraud Detection in Financial Statements by Means of Financial Ratios. Procedia: Social and Behavioral Sciences, 213: 321-327
Knežević, S., Mitrović, A., Vujić, M., Grgur, A. (2019) Analiza finansijskih izveštaja / Financial statement analysis. Beograd: Samostalno izdanje autora
Knežević, S. (2019) Finansijsko izveštavanje. Beograd: Samostalno izdanje autora
Knežević, S., Mitrović, A. (2019) Application of Beneish M-Score Models to Detect Financial Fraud. u: International Conference (9th) 'Economics and Management-Based on New Technologies' EMoNT-2019, 23-26 June 2019, Vrnjačka Banja, Serbia
Knežević, S., Barjaktarović-Rakočević, S., Đurić, D. (2011) Primena i ograničenja racio analize finansijskih izveštaja u poslovnom odlučivanju. Management - časopis za teoriju i praksu menadžmenta, vol. 16, br. 61, str. 25-31
Knežević, S.P., Fabris, M. (2012) Identifikovanje i analiza postupaka banke u slučaju nesolventnosti dužnika. Računovodstvo, vol. 56, br. 1-2, str. 68-78
Koshti, J.R. (2019) An Application of Altman Z-Score and Beneish M-Score Model on Selected Textiles Companies. IJESC, 9(11), 24097-24101
Li, H., Xu, Y.H., Yu, L. (2017) Predicting hospitality firm failure: Mixed sample modelling. International Journal of Contemporary Hospitality Management, 29(7), 1770-1792
Liodororva, J., Voronova, I. (2018) Integral system of fraudulent bankruptcy evaluation. Socialo Zinatnu Vastnesis, 2(27), 42-60
Machen, M.J., Richards, R.E. (2004) The Use of fraud examiners in the battle against occupational fraud and abuse. Journal of Investment Compliance, 5(3): 67-71
Milašinović, M., Knežević, S., Mitrović, A. (2019) Bankruptcy forecasting of hotel companies in the Republic of Serbia using Altman's Z-score model. Menadžment u hotelijerstvu i turizmu, vol. 7, br. 2, str. 87-95
Neu, D., Everett, J., Rahaman, A.S., Martinez, D. (2013) Accounting and networks of corruption. Accounting, Organizations and Society, 38(6-7): 505-524
Normah, O., Johari, Z.A., Smith, M. (2017) Predicting fraudulent financial reporting using artificial neural network. Journal of Financial Crime, 24(2): 362-387
o'Cconnell S., Bourassa, J.R. (2003) Bankruptcy: Does Your Legal Team Include a Forensic Accountant?. American Bankruptcy Institute Journal, 38
Panno, A. (2020) Performance measurement and management in small companies of the service sector: Evidence from a sample of Italian hotels. Measuring Business Excellence, 24(2): 133-160
Persons, O.S. (2005) The Relation Between the New Corporate Governance Rules and the Likelihood of Financial Statement Fraud. Review of Accounting and Finance, 4(2): 125-148
Rajković, S. (2016) Beneishov M-score model u funkciji detekcije računovodstvenih manipulacija. Financing - naučni časopis za ekonomiju, 7(1): 38-43
Repousis, S. (2016) Using Beneish model to detect corporate financial statement fraud in Greece. Journal of Financial Crime, 23(4): 1063-1073
Roman, V., Kravčáková-Vozárová, I., Kotulič, R. (2021) Evaluating the Financial Health of Agricultural Enterprises in the Conditions of the Slovak Republic Using Bankruptcy Models. Agriculture, 11(3), 242
Ross, S.A., Westerfield, R.W., Jordan, B.D. (2010) Fundamentals of Corporate Finance. New York: Tata McGraw Hill Education, Inc
Sabău, P.A., Mare, C.a, Safta, I.L. (2021) A Statistical Model of Fraud Risk in Financial Statements: Case for Romania Companies. Risks, 9(6): 116-116
Sandin, A.R., Porporato, M. (2007) Corporate bankruptcy prediction models applied to emerging economies: Evidence from Argentina in the years 1991-1998. International Journal of Commerce and Management, 17(4): 295-311
Sawangarreerak, S., Thanathamathee, P. (2021) Detecting and Analyzing Fraudulent Patterns of Financial Statement for Open Innovation Using Discretization and Association Rule Mining. Journal of Open Innovation: Technology, Market, and Complexity, 7(2): 128-128
Seifzadeh, M., Rajaeei, R., Allahbakhsh, A. (2021) The relationship between management entrenchment and financial statement fraud. Journal of Facilities Management, ahead-of-print(ahead-of-print)
Simonović, D., Joksić, J., Travica, J. (2019) Menadž-ment porodičnih preduzeća. Aranđelovac: Visoka škola strukovnih studija
Srebro, B., Mavrenski, B., Bogojević-Arsić, V., Knežević, S., Milašinović, M., Travica, J. (2021) Bankruptcy Risk Prediction in Ensuring the Sustainable Operation of Agriculture Companies. Sustainability, 13(14): 7712-7712
Trigueiros, D. (2019) Improving the effectiveness of predictors in accounting-based models. Journal of Applied Accounting Research, 20(2): 207-226
Urošević, S., Đorđević, D., Cvijanović, J.M. (2009) Značaj doradnih poslova za razvoj tekstilne i odevne industrija Srbije u procesu tranzicije. Industrija, vol. 37, br. 2, str. 97-125
Vasilev, D., Cvetković, D., Grgur, A. (2019) Detection of fraudulent actions in the financial statements with particular emphasis on hotel companies. Menadžment u hotelijerstvu i turizmu, vol. 7, br. 1, str. 115-125
Zainudin, E.F., Hashim, H.A. (2016) Detecting fraudulent financial reporting using financial ratio. Journal of Financial Reporting and Accounting, 14(2): 266-278
 

O članku

jezik rada: srpski
vrsta rada: pregledni članak
DOI: 10.5937/tekstind2104020K
primljen: 03.09.2021.
revidiran: 13.12.2021.
prihvaćen: 13.12.2021.
objavljen u SCIndeksu: 07.01.2022.
Creative Commons License 4.0