Enron Scandal

Essay specific features

 

Issue:

Business

 

Written by:

Rebecca M

 

Date added:

January 10, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 434

 

Was viewed:

9818 times

 

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Essay content:

The result was that many of Enron's debts and the losses that it suffered were not reported in its financial statements. Many companies use SPEs as a common financing system. Companies can cut their risk by moving assets into separate partnerships or a limited company of some type, which can be sold to outside investors...
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In Enron’s case, assets that were losing money were sold to partnerships. Enron then listed the sales of these assets as earnings. Yet, to be legitimate, accounting rules require that an SPE be isolated from the company that created it. But not in Enron’s case, because the SPEs relied upon Enron’s managers for leadership and Enron’s stock for capital...
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