1. What brought about Enron's col
Enron, the Houston, Texas based company, created in 1985, grew into the nation's seventh largest company in revenue by providing electricity to its consumers. ... Enron's reported revenue was based on its exploitation of a loophole in accounting rules that allowed it to book revenue from huge energy-derivative contracts at their gross value, not their net value as done with other securities dealings. In actuality, it used complex partnerships to keep some $500 million in debt off its books and hide its financial troubles so it could continue to get cash and credit to run its trading...
- Word Count: 510
- Approx Pages: 2
- Grade Level: Undergraduate