Hello, I am looking for someone to write an essay on ENRON Case Study. It needs to be at least 1500 words.
? What is so staggering, so appalling, so outrageous is that this once $50 billion company melted to nothingness during the period November 8, 2001, when it restated its earnings retroactive to 1997, to December 2, when it filed bankruptcy (Hartgraves, 2002)”.
On October 16, 2001, Enron Corporation of Houston, Texas, one of the largest corporations in the world, announced it was reducing its after-tax net income by $544 million and its shareholders equity by $1.2 billion. On November 8, it announced that, because of accounting errors, it was restating its previously reported net income for the years 1997–2000. These changes reduced its stockholders equity by $508 million. Thus, within a month, Enrons stockholders equity was lower by $1.7 billion (18% of previously reported $9.6 billion at September 30, 2001) (Hartgraves, 2002).