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MScore.XLS - ShookRun.com - ShookRun.com

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MScore.XLS - ShookRun.com - ShookRun.com Powered By Docstoc
					                                                         ad7fe42f-cc78-4fd8-a254-e1e30e71288d.xls




M-score for Jean Phillippe Fragrances Inc.
The Full Beneish model for earnings manipulation detection
(Based on Eight Variables)
INPUT VARIABLES                             1996          1995
Net Sales                                  93281         93669
CGS                                        51355         48703
Net Receivables                             1124           970
Current Assets (CA)                        72726         67539
PPE (Net)                                   1734          1970
Depreciation                                1597          1322
Total Assets                               85585         84001
SGA Expense                                32416         32990
Net Income (before Xitems)                  5658          9038
CFO (Cash flow from operations)             7975          2836
Current Liabilities                        26158         26176
Long-term Debt                               485           596




DERIVED VARIABLES
Other L/T Assets [TA-(CA+PPE)]             11125         14492

             DSRI                          1.164
              GMI                          1.068
              AQI                          0.753
               SGI                         0.996
             DEPI                          0.838
             SGAI                          0.987
 Total Accruals/TA                        -0.027
             LVGI                          0.977


M = -6.065+ .823 DSRI + .906 GMI + .593 AQI + .717 SGI + .107 DEPI
M-score (5-variable model)             -2.89

M = -4.84 + .920 DSRI + .528 GMI + .404 AQI + .892 SGI + .115 DEPI
    -.172 SGAI + 4.679 Accrual to TA - .327 Leverage
M-score (8-variable model)                  -2.53
Note: if M > -2.22, firm is likely to be a manipulator

M-score for Media Vision
The Full Beneish model for earnings manipulation detection
(Based on Eight Variables)
INPUT VARIABLES                             1984          1983
Net Sales                                  68914          8331
CGS                                        48415          6704
Net Receivables                            31869          3744
Current Assets (CA)                        75952          6568
PPE (Net)                                   4010           908
Depreciation                                 733           135
Total Assets                               80454          7502
SGA Expense                                11922          4781
Net Income (before Xitems)                  3213         -4956
CFO (Cash flow from operations)           -25701         -7259
Current Liabilities                        23266          3702
Long-term Debt                               826           287




DERIVED VARIABLES

				
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posted:10/26/2011
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