Borrowing, like any other method, has advantages and disadvantages. Among the disadvantages of using borrowing is the company's exposure to financial problems and related costs. Financial problems can include a wide range of problems, from a relative decrease in liquidity to the bankruptcy of the company. On the other hand, the goal of management is to show the company stable and dynamic in the eyes of investors and creditors. Acquiring a suitable position among competitors and the capital market makes investors and lenders have a more favorable opinion of the company and the company does not need to spend more money in competition with other similar companies and with a lower cost of obtaining credit. The relationship between real earnings management and debt contracts is considered as the main hypothesis, as well as the relationship between real earnings management and the company's total debt and cost of debt. The practical findings of the research are based on the information of 130 active companies in the Tehran Stock Exchange, which are active in the stock exchange between 1387 and 1400, and Excel, SPSS, and Eviews8 software and the panel data estimation method have been used. The regression model has six independent variables that express the real profit management variable and control variables, and the results of the data analysis show that the real profit management is on the company's total debt, the real profit management is on the cost of the company's debt and also the real profit management. It affects the company's debt contracts. In this regard, it is recommended that real profit management in companies can be considered as a negative stimulus for the company's debt ratio.