Emmis Communications Corporation - (EMMS) Social Stream

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$EMMS issued its detailed performance in the past year yesterday. Unlike cash flows, the reported earnings include “accruals”, which is the forecast of benefits not yet collected. Yet, the forecast is subjective and thus could be biased. High accruals are therefore not necessarily realized in cash. So, supposed firms A and B have the same reported earnings. A is expected to have lower future earnings if it has high current accruals than B. Here is a quick method to estimate the quality of $EMMS ’s reported earnings, which is offered in the image below for details.