Given the authenticity of the financial statements presented, accruals based on accrual accounting should be able to reflect valuable information about the company's current position and future market prospects. In this case, profits may reflect the personal interests of managers and cause analysts to err in their forecasts and lead to incorrect valuation of profits by the market. Now this research was to examine whether the management of excessive threshold profits will mislead the market or not? By applying the proposed restrictions, 167 companies listed in the 10-year period between 2011 and 2022 in the Tehran Stock Exchange have been selected as a sample of this study. The result of testing the first hypothesis shows that at the 99% confidence level there is a significant direct relationship between earnings forecast error and earnings management. Confirmation of this hypothesis means that by manipulating earnings through accruals, there is a significant difference between earnings per real share and earnings per forecast. The results of testing the second hypothesis indicate a significant positive relationship between earnings forecast error and abnormal returns of new shares listed on the stock exchange, which ultimately indicates the content of variable earnings information. In other words, the announcement of a projected profit causes a deviation in the average abnormal rate of return on stocks. In general, the results of this study show that if managers make mistakes in their calculations for forecasting next year's profit or change their forecasts, investors will have a higher rate of return on capital in proportion to the increase in the percentage of profit forecast errors and the number of times the managers revise their forecast. They demand it themselves. Companies that do not achieve the expected profit or constantly change their forecasts do not have much stability, so they may not meet the expectations of investors.