In your interest.
Online Personal Finance Magazine
No beating about the bush.
In October 2000, a friend of Jim Chanos suggested that he read an article in The Texas Wall Street Journal, a regional edition, about accounting practices at large energy trading firms. The piece pointed out that many of these firms, including Enron, employed the “gain-on-sale” accounting method which allowed them to estimate the future profitability of a trade, calculate its present value and...