In: Accounting
Do you believe Enron's accounting treatment fell within Generally Accepted Accounting Principles (that is Generally Aaccepted Aaccounting Principles in the year 2000, not Generally Aceepted Accounting Principles of today)?
No.
It hadn’t been fell within the Generally Accepted Accounting principles exist in the year 2010 as Enron’s Scandal was emerged by way of using accounting loopholes, incorrect accounting practices and poor financial reporting which were certainly against the Generally Accepted Accounting principles.
The key Accounting areas in which the scandal has taken place are stated hereunder;