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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Accenture's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Accenture was -2.44. The lowest was -2.97. And the median was -2.63.
The historical data trend for Accenture's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Accenture Annual Data | |||||||||||||||||||||
Trend | Aug15 | Aug16 | Aug17 | Aug18 | Aug19 | Aug20 | Aug21 | Aug22 | Aug23 | Aug24 | |||||||||||
Beneish M-Score | Get a 7-Day Free Trial | -2.97 | -2.62 | -2.48 | -2.68 | -2.44 |
Accenture Quarterly Data | ||||||||||||||||||||
Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | May24 | Aug24 | |
Beneish M-Score | Get a 7-Day Free Trial | -2.68 | -2.68 | -2.60 | -2.54 | -2.44 |
For the Information Technology Services subindustry, Accenture's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Software industry and Technology sector, Accenture's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Accenture's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Accenture for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 1.1041 | + | 0.528 * 0.9916 | + | 0.404 * 1.1907 | + | 0.892 * 1.0122 | + | 0.115 * 1.0042 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0124 | + | 4.679 * -0.031403 | - | 0.327 * 0.964 | |||||||
= | -2.44 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Aug24) TTM: | Last Year (Aug23) TTM: |
Total Receivables was $13,665 Mil. Revenue was 16405.819 + 16466.828 + 15799.514 + 16224.303 = $64,896 Mil. Gross Profit was 5337.456 + 5498.451 + 4878.469 + 5447.941 = $21,162 Mil. Total Current Assets was $20,858 Mil. Total Assets was $55,932 Mil. Property, Plant and Equipment(Net PPE) was $4,279 Mil. Depreciation, Depletion and Amortization(DDA) was $1,430 Mil. Selling, General, & Admin. Expense(SGA) was $11,128 Mil. Total Current Liabilities was $18,976 Mil. Long-Term Debt & Capital Lease Obligation was $2,448 Mil. Net Income was 1684.301 + 1932.183 + 1674.859 + 1973.444 = $7,265 Mil. Non Operating Income was -49.589 + -18.851 + -5.652 + -35.719 = $-110 Mil. Cash Flow from Operations was 3389.431 + 3142.002 + 2101.043 + 498.551 = $9,131 Mil. |
Total Receivables was $12,227 Mil. Revenue was 15985.2 + 16564.585 + 15814.158 + 15747.802 = $64,112 Mil. Gross Profit was 5181.629 + 5529.07 + 4834.766 + 5186.142 = $20,732 Mil. Total Current Assets was $23,382 Mil. Total Assets was $51,245 Mil. Property, Plant and Equipment(Net PPE) was $4,167 Mil. Depreciation, Depletion and Amortization(DDA) was $1,401 Mil. Selling, General, & Admin. Expense(SGA) was $10,859 Mil. Total Current Liabilities was $18,009 Mil. Long-Term Debt & Capital Lease Obligation was $2,354 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (13664.847 / 64896.464) | / | (12227.186 / 64111.745) | |
= | 0.210564 | / | 0.190717 | |
= | 1.1041 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (20731.607 / 64111.745) | / | (21162.317 / 64896.464) | |
= | 0.323367 | / | 0.326094 | |
= | 0.9916 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (20857.781 + 4278.515) / 55932.363) | / | (1 - (23381.931 + 4167.486) / 51245.305) | |
= | 0.550595 | / | 0.462401 | |
= | 1.1907 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 64896.464 | / | 64111.745 | |
= | 1.0122 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (1400.755 / (1400.755 + 4167.486)) | / | (1430.042 / (1430.042 + 4278.515)) | |
= | 0.251561 | / | 0.250508 | |
= | 1.0042 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (11128.03 / 64896.464) | / | (10858.572 / 64111.745) | |
= | 0.171474 | / | 0.169369 | |
= | 1.0124 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((2448.118 + 18976.127) / 55932.363) | / | ((2353.807 + 18009.038) / 51245.305) | |
= | 0.383038 | / | 0.39736 | |
= | 0.964 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (7264.787 - -109.811 | - | 9131.027) | / | 55932.363 | |
= | -0.031403 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Accenture has a M-score of -2.44 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Accenture's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Ellyn Shook | officer: Chief Human Resources Officer | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Joel Unruch | officer: General Counsel, Sec & CCO | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Kathleen R Mcclure | officer: Chief Financial Officer | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Leonardo Framil | officer: CEO-Growth Markets | 500 W. MADISON STREET, CHICAGO IL 60661 |
Julie Spellman Sweet | officer: General Counsel, Sec & CCO | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Jean-marc Ollagnier | officer: Group Chief Exec-Resources | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Gilles Pelisson | director | 161 N. CLARK STREET, C/O ACCENTURE CORPORATE SECRETARY, CHICAGO IL 60601 |
Manish Sharma | officer: Chief Operating Officer | 161 NORTH CLARK, CHICAGO IL 60601 |
John F Walsh | officer: Grp Chief Exec-Com, Med & Tech | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Melissa A Burgum | officer: Chief Accounting Officer | C/O SRA INTERNATIONAL, INC., 4300 FAIR LAKES COURT, FAIRFAX VA 22033 |
Jaime Ardila | director | 300 RENAISSANCE CENTER, M/C: 482-C25-A36, DETROIT MI 48265-3000 |
Paula A Price | director | ONE CVS DRIVE, WOONSOCKET RI 02895 |
Alan C. Jope | director | 500 W. MADISON STREET, CHICAGO IL 60661 |
James O Etheredge | officer: Group Chief Exec-North America | C/O ACCENTURE, 161 N. CLARK STREET, CHICAGO IL 60601 |
Gianfranco Casati | officer: Group Chief Executive?Products | C/O ACCENTURE, 161 N. CLARK STREET, CHCIAGO IL 60601 |
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