NO.PZ202304050100012503
问题如下：
(3) Lenihan asks Burgess to calculate Euronet’s Beneish M-score before their next meeting. He provides Burgess with the Beneish coefficients for each variable (see Exhibit 1). Lenihan wonders about the effect on the DSR value of reporting the loans receivable as other assets and, in turn, the probability that Euronet’s M-score will flag it as a possible earnings manipulator.
Exhibit 1 Coefficients for Beneish M-Score Variables
The most likely effect of Euronet’s choice for reporting the loans receivable on the Beneish M-score is that the company’s probability of being flagged as an earnings manipulator is:
选项：
A.unchanged.
increased.
decreased.
解释：
Euronet’s likelihood of being flagged as a possible earnings manipulator is decreased because lower M-scores are correlated with lower probabilities of earnings manipulation. Euronet’s reporting of the vendor loans receivable as other assets results in a lower accounts receivable value and thus a lower days sales receivable index. Because the coefficient of DSR is a positive value, the end result is a lower M-score than Euronet would have if the vendor loans receivable were properly reported.
通过操纵AR变成other asset，使得M↓，从而看起来不是操纵，但实际上是操纵
