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Accounting/finance Lessons Of Enron
- Author / Creator
- Available as
- Online
- Physical
Details
Checking for availability...
- Format
- Books
- Language
- English
- Publication
-
- 1st ed
- Singapore : World Scientific Publishing Company, 2008
- ©2008
- Physical Details
-
- 1 online resource (215 pages)
- ISBNs
- 9812790306, 9812790314, 9814338311, 9786611938307, 9789812790316, 9789812790309, 1281938300
- OCLC
- ocn652201760, ocn245537230
- Intro -- Contents -- Introduction -- Acknowledgments -- 1 The Enron Success and Failure -- Rich Kinder -- John Wing -- The Year 2001 -- Five Business Segments -- The Three Components -- The Enron Hedge Fund -- A Distraction -- Rush to Judgment -- The Activities of Kenneth L. Lay -- The Path of the Enron Stock Price -- The Indictment -- Conclusions -- Reference -- 2 Enron as of 31 December 2000 -- Azurix -- The Trial -- Cash Flows -- Operating Segments -- Other Income -- Lines of Credit -- Return on Sales -- Return on Equity -- Capitalization -- Financial Risk Management -- The Audit -- The Balance Sheet -- Mark-to-Market -- Securitizations -- Guarantees -- Merchant Activities -- Income Taxes -- Unconsolidated Equity Af.liates -- Azurix (p. 43) -- Derivatives (p. 44) -- Pension and Other Bene.ts (pp. 45-46) -- Related Party Transactions (pp. 48-49) -- Conclusions -- References -- Chapter 2 - Case Enron (2000) Annual Report -- 3 First Six Months of 2001: Before the Storm -- Dabhol Power Company -- Business Segment Information -- The Trial: Broadband -- Derivatives -- Related Party Transactions -- Real Volumes -- Financial Condition -- Return on Revenue -- Return on Equity -- Conclusions -- Chapter 3 - Case -- 4 Sherron Watkins' Letter to Kenneth L. Lay -- The Two Gains -- Actions by Lay -- The Trial -- Lay's e-Mail and Stock Transactions -- The First Doubters -- The Trial -- Conclusions -- Chapter 4 - Case -- 5 The Clouds Burst -- The 1.2 Billion Reduction to Stock Equity -- The Relevance -- Adjustments to Net Income -- The Special Committee -- Related Party Transactions -- Further Adjustments -- 14 November 2001 -- The Triggers -- The Loyal Investors -- The Trial -- Conclusions -- Chapter 5 - Case -- 6 The 100-Year Flood -- Liquidity Actions -- The Dynergy Merger -- The Restatement -- The Triggers -- Conclusions -- Chapter 6 - Case
- 7 JEDI and Chewco: Not the Movie -- SPEs -- Status -- The Use of Special Purpose Entities (SPEs) -- The Equity of Chewco -- JEDI -- Gains and Losses from Stock Investment -- JEDI's Management Fee -- The Gains of Kopper -- Accusations of Evil-Doing -- The Importance of Chewco -- Conclusions -- 8 LJM1 and Rhythms -- The Board Approval -- Rhythms and Enron -- A Valid Hypothetical Hedge -- The Enron "Hedge" -- A Price Decline -- Forward Contacts -- Buying of Forward Contracts -- Consolidation -- Unwinding: Rhythms -- Con.icts with Banks -- The Controls -- An Illustrative Example -- Conclusions -- 9 LJM2 and Raptors I and III -- The Raptors -- Raptor I and Enron Puts -- Raptor I and the Hedging of Merchant Investments -- The AVICI Swap -- The New Power Company (TNPC) -- Raptor III -- The IPO -- The Adjusted Incomes -- Accounting Implications -- Raptor Restructuring -- The "Costless Collar" -- The End of the Raptors -- The New Power Holdings -- Conclusions -- 10 LJM2 and Raptors II and IV -- The Contingent Contracts -- Asset Sales to LJM2 -- The Board and LJM1 and LJM2 -- Naming the SPE -- Conclusions -- 11 Other Transactions -- Prepaid Swaps -- Swaps of Capacity -- Enron Energy Services -- The Trial -- The White Affair -- The Southampton Place Partnership -- The Bonuses -- Other Transactions -- Conclusions -- 12 The Collapse -- Factors That Did Not Cause the Collapse -- Factors Contributing Indirectly -- Factors Leading to Collapse -- The Accounting -- Mark-to-Market Accounting -- A Summary of Accounting Issues -- The 401K Mess -- Enron Really Lost Money -- Feeble Humor -- A Neglected Signal -- Evaluating Arthur Andersen -- Kenneth L Lay -- Jeffrey Skilling -- Andrew Fastow -- Three Transactions -- The International Bubble -- Other Dif.culties -- A Tragedy -- The Extent of Corruption -- Sharing the Blame -- Conclusions
- 13 The Indictment of Lay and Skilling -- The 51 Counts -- Reference -- 14 The Trial -- The Charges -- Mark to Market Accounting -- Michael Ramey -- The Testimony of Lay -- Skilling -- Demeanor -- Testimony -- The Duration -- An Observation -- The Judge's Charge to Jury -- Insider Information -- Skilling's Departure -- The Verdict -- Reference -- 15 A Slice of the Skilling-Lay Trial -- The Accounting Issue -- The Year 2000 Enron Annual Report -- Enron's Form 10-Q for Quarter Ending 30 September 2001 -- Enron 8-K of 8 November 2001 -- Enron 10-Q of 19 November 2001 -- Subjective Evaluation of Enron's Actions -- The Trial -- Conclusions -- References -- 16 The Skilling-Lay Trial: Fair or Foul? -- Earnings Management: Academic Literature -- The Indictment -- The Concluding Comments of US Attorneys -- Conclusions -- References -- 17 Mark to Market Accounting: Feeding the Growth Requirement -- The Mark to Market Issue -- Complexities -- The History -- A Mark to Market Rule Target -- Feeding the Growth Requirement -- A Three Period Example -- The Trial: Mark to Market -- Conclusions -- References -- 18 Concluding Observations -- The Trial -- The Pro forma Earnings -- The Jaedicke Factor -- The Arthur Andersen Memorial Award -- The Ostrich Defense -- The Amount of Loss -- The Reasons Enron Failed -- Conclusions -- A Postscript -- References -- Index