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Daya Yudha Perkasa. 21206156 ANALYSIS OF FINANCIAL STATEMENTS AS A PREDICTION TOOL Altman bankruptcy with discriminant MODEL ON TELECOMMUNICATIONS COMPANIES THAT INDONESIA listed. Thesis, Faculty of Economics, Faculty of Economics, University Gunadarma 2010 Keywords: Financial Statements, Financial Performance, Bankruptcy, Method Z-Score Altman (XV + 126 + appendix) In accordance with one of the goals didirikanya a business that is going concern, meaning that the company is expected to grow and thrive in the long term. However, business competition affect the survival of businesses that can shake the stability of the company's financial performance. bankruptcy of a company is usually preceded by financial difficulties which marked the uncertainty of profitability in the future. The purpose of this research is to find good or bad financial performance of a company, especially at five Telecommunications companies in Indonesia during the year 2005-2009. The method is a method digunakaan Altman Z-Score. This study uses secondary data obtained (www.idx.co.id) in the form of financial statements consist of the Consolidated Balance Sheets and Consolidated Statements of Income for the years 2005 to 2009. The results of this study based on the Z-Score index value generated in each company showed that PT Bakrie Telecom Tbk has a good performance with an index value of Z-Score that is owned for five years experience that value will fluctuate diarea Healthy but still only the beginning and end of period located in vulnerable areas. PT Excelkomindo language has this poor performance is marked by four years of 2005-2008 were in critical condition and in 2009 in a state of bankruptcy. PT Indosat Tbk has a good performance condition, which form an integral Tbk PT produces an index value of Z-score> 2.60 during the years 2005 to 2007 but decreased to 1.237 in 2008 and at the end of the period declared bankrupt by PT Orix Finance on 29 july 2009 and otherwise delisted by the Director of Trade and Exchange settings. PT Inovisi Infracom language although only two years are listed on the Stock Exchange in 2008 & 2009 will however show good financial performance. PT Mobile-8 PT has a volatile financial performance of the financial year 2005 has the worst performance among telecommunications companies and others later in the year of sharp increases and decreases in year-year selanjutnya.PT PT Telkomsel can be concluded to have a good financial performance during the period 2005-2009. Darftar Library (1983-2009)