Practice Drills: Calculating Altman Z-Score on a Distressed Company

A practice-first companion to Deep Dive into Financial Statement Fraud and Forensic Red Flags. You already know what the Altman Z-Score is; this course makes you calculate it properly on distressed Indian companies, where the textbook inputs rarely sit cleanly on the face of the balance sheet. Working from Ind AS annual reports on NSE and BSE, Screener.in exports and the notes to accounts, you will rebuild all five ratios by hand, strip securities premium out of retained earnings, catch current maturities of long-term debt hiding outside short-term borrowings, normalise EBIT for exceptional items, and price equity through pledges and circuit-filter collapses. You will then pick the right model for manufacturers, service companies and private subsidiaries, stress the score for lease liabilities, contingent liabilities and corporate guarantees, learn exactly where the Z-Score breaks (NBFCs, banks, holding companies, manipulated books) and finish by writing a defensible Z-Score memo. Built for senior forensic auditors, chief compliance officers and financial crime investigators who need a distress score that survives cross-examination.