Accounting/finance lessons of Enron [[electronic resource] ] : a case study / / Harold Bierman, Jr

• Record Nr.: UNINA9910453569003321
• Autore: Bierman Harold
• Pubbl/distr/stampa: Hackensack, NJ, : World Scientific, c2008
• ISBN: 1-281-93830-0; 9786611938307; 981-279-031-4
• Descrizione fisica: 1 online resource (215 p.)
• Disciplina: 364.1680973
• Soggetti: Corporations - Corrupt practices - United States; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: 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 ActivitiesIncome 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 TrialLay'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 ChewcoJEDI; 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
• Sommario/riassunto: There is a great deal of confusion regarding the factors that led to Enron's collapse. This important book addresses this problem by providing a coherent explanation of the accounting and finance problems associated with the collapse. The Skilling-Lay trial, as it is related to accounting or finance issues, is critically described as well. Through its well-balanced take on events surrounding the trial, the book therefore enables readers to analyze the validity of the arguments offered by the U.S. attorneys.