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An Nguyen/Accounting journal article NYTIMES:Wielding Derivatives as a Tool for Deceit By FLOYD NORRIS Published: June 27, 2013Warren Buffet once called derivatives the financial weapon of mass destruction. In the accounting world, they can also be the weapon of mass deception according to a article by the New York Times. There have been many instances where companies, such as Enron, or government like Italy, utilize this financial instrument as an accounting wizard tool to conceal their true financial health. For some derivatives, a desire for deception is the only reason they exist. That deception can allow those who own derivatives to evade taxes or accounting rules. It can allow activity that might otherwise be illegal, were it not called a derivative, or that would face regulation if it were labeled what it truly is. Enron was a pioneer for such use of derivatives. It used derivatives called “prepaid forward”