December 2014
Beginner
352 pages
13h 51m
English

Financial risk
1992 Terry Smith publishes Accounting for Growth, an insider exposé of accounting practices in big businesses.
2001 The spectacular collapse of Enron shows that practices such as off-balance-sheet accounting are not just obscure talking points.
2010 Lehman Brothers bank is revealed to have used “Repo 105” and “Repo 108” repurchase transactions to temporarily remove some loans and investments from its balance sheet for 7 to 10 days, creating a misleading picture of its activities and value.
2011 UK care provider Southern Cross collapses due to off-balance-sheet debts to the value of $8 (£5) billion.
The balance ...
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