The accounting version will analyse whether a company "sticks out from the pack" in areas such as accruals, which are non-cash entries that can be manipulated by management.

CNN: SEC to roll out 'RoboCop' against fraud

We note low inventories, low real interest rates, rational consumer resilience, high levels of bank cash (since the write-downs are generally non-cash accounting entries), small business flexibility and reasonable output gains apart from housing, autos and finance.

FORBES: Muddle-Through, Part Two