Year: 2024
Type: article
Abstract: India is a democratic country certain changes can lead to lots of considerable changes in country as well as in the economy which leads to lots of significant changes including positive and negative from which, one of the most important factor is company's financial position of the firm can have very drastic impact on company as well as country which leads to financial distress, if it is identified earlier then the risk of bankruptcy can be evitable.Bankruptcy sometimes feels inevitable but by using certain policy or making some changes firm can fight the distressing position and bring the firm back to the survival mode.For this first thing needs to do first id to identify the firm's financial position by using some financial distress models like Altman's Z-score, Zmijwaki model etc.Those models can help the company to locate the distress.On the basis of locating the solution can be found easily and necessary steps can be taken to solve the on hand problem.Bankruptcy is the situation where company is no longer able to fulfill its obligation this can be convert into no bankruptcy by identifying the financial distress which can be done by using the financial distress identifying model.
Authors: Payal M. Siddhpura, Ashvin Solanki
Institution: Saurashtra University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4407755628