Recently, there were several notable efforts to create criteria of prediction of the financial state of the enterprise. Altman, created a Z-Score designed to predict bankruptcy (Altman, 1968) . Beneish, 1999 designed several ratios, which showed statistically different results for known manipulators with the financial statements as opposed to non-manipulators. Combining these ratios into one regression formula was largely unsuccessful and produced slightly over 50% success in detecting manipulators.