AN ANALYSIS OF FINANCIAL STATEMENTS IN PREDICTING COMPANY BANKRUPTCY,
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- NGN 3000
ABSTRACT
This study provides AN ANALYSIS OF FINANCIAL STATEMENTS IN PREDICTING COMPANY BANKRUPTCY, with objectives to understand the predictive indicators, evaluate the accuracy of financial ratios, and assess the implications for stakeholders. A survey design was employed to gather data from industry professionals, justified by its ability to provide detailed insights into financial statement analysis. Using Taro Yamane's formula, a sample size of 330 respondents was determined to ensure the reliability and accuracy of the findings. The research focuses on Lagos, given its diverse business environment and instances of corporate bankruptcies. The reliability coefficient score of the survey instrument was 0.86, confirming its robustness. Findings reveal that financial ratios such as liquidity, profitability, and leverage are significant predictors of bankruptcy. However, the accuracy of predictions is influenced by the quality of financial reporting and external economic conditions. The study recommends the adoption of more sophisticated analytical tools, continuous monitoring of financial health, and enhanced financial reporting standards to improve the predictive accuracy of financial statements in assessing bankruptcy risk.
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