安然公司破产案例-英语课题.ppt

安然公司破产案例分析;Basic?Situation?of?Enron;Enron Corporation was founded in 1985, the merger of Houston Natural Gas Corporation ( Houston Natural Gas ) and the Northern Alliance ( Inter North ). With a creative approach, Enron transplanted the concept of financial markets in futures, options to energy trading, supplied energy futures, options trading, and constantly opened up new markets, became energy oligarchs. On December 2, 2001, Enron filed for bankruptcy protection .;The?Cause?Analysis?of?Enrons?Bankruptcy;The reasons which caused yesterday energy oligarchs to file for bankruptcy protection are complex and multi-faceted including changes in the macroeconomic environment, financial, accounting and auditing system deficiencies , the company supervision mechanism and mode of operation and so on. They could be divided into the following areas:;A fragile bubble operation as a basis for the development of the company; Concealing debt , manipulated profits is unsustainable； Useless regulatory mechanism; Accounting and auditing system defects.;The Methods of the Enron’s Financial Fraud;The following analysis of Enrons management how to obtain a non-legitimate interests of the approach, the Enron of the four methods are:;First, black-box operations, debt, bad debts transferred to the branch of the company. ;The media pointed out that the Enron approach is an accounting of Nirvana made. Enron said the discovery of how to make the traditional energy companies, became a high growth, high-profit new enterprise of the secret.“ But in fact, most of the company values are derived from the hidden debt.;On the one hand, Enron drilling GAAP They engaged in hiding the debt through the affiliated enterprises. According to GAAP, a number of subsidiaries of the individual statements do not need into Enrons consolidated statements, but these subsidiaries essentially controlled by Enron, but its liabilities have not been reflected in Enrons balance sheet. On the other hand, Enrons use of