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Unformatted text preview: Dustin Taylor FIN-301 TESC Module 7 Discussion Board Introduction In 2000, Enron had been named America's Most Innovative Company for the sixth year in a row by Fortune Magazine. Time Magazine had listed it as one of the 100 Best Companies to Work For In America ("The enron scandal," 2007) . Enron Corporation went from being the largest energy trading company in the world to a company filing for bankruptcy in a matter of months. Due to less than ethical accounting practices and the help of Arthur Andersen, one of the big five accounting firms, Enron was went bankrupt in 2001. What could happen that fast that would bring such a great company to its knees? Mark-to-Market Accounting What is mark-to-market accounting? It's something that most people have probably never heard of. Under mark-to-market accounting rules, whenever companies have outstanding energy-related or other derivative contracts (either assets or liabilities) on their balance sheets at the end of a particular...
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This note was uploaded on 08/11/2011 for the course FIN 301 taught by Professor Crisonino during the Spring '11 term at Edison State College.
- Spring '11