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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2013 |
Essay's paper body
In short, it was the unraveling of the accounting system of the US businesses.
As an example, Enron was able to hide its precarious financial position and highly risky business operations by exploiting the loopholes in the existing accounting rules. This was done mainly through the use of hundreds of Special Purpose Entities (SPEs) that enabled the company to park its losses in off-balance sheet transactions while artificially showing increased earnings in its balance sheets...
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The surprising aspect of the scandal was that according to the prevalent accounting rules, SPEs were legitimate instruments .(Reinstein & Weirich 22).
Another loophole in the accounting practice was the massive use of stock options, which does not have to be included in the financial statements as an expense, but can be treated as an expense by the firm for tax purpose...
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General points of the essay
Accounting Essay w/ Enron Scandal
An Interface Between Financial Accounting And Cost & Management Accounting And Some Concepts Of Strategic Cost Management
Choose A Current International Accounting Standard (Ias) Or International Financial Reporting Standard (Ifrs). Briefly Summarise Its Provisions And Assess Whether The Standard Can Be Considered To Be ‘Principles-Based’ Or ‘Rules-Based’, E...
china's international accounting rules
discuss the role of the financial accounting and managerial accounting functions in organizations
enron accounting ethics
Financial and Business accounting
Managerial Accounting Vs Financial Accounting
Managment Accounting, Financial Control, Management Control, Strategic Management Accounting (Sma)
Principles-Based Accounting And Rules-Based Accounting
The Differences Between Financial Accounting And Management Accounting
The Sarbanes - Oxley Policies And Relationships In Business
The Sarbanes-Oxley Act and Business Ethics
What's at heart of Enron case, accounting or 'lies and choices'?
Financial Accounting
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