Accounting

Accounting In the month of November Enron began to restate their profits from 1997 to 2000. In 1997 they reported $105 million in profit while in reality it was only $77 million. In 1998 they reported $733 million while in reality it was only $600 million. In 1999, $893 million was reported but in reality only $645 million was in profit. In 2000 they reported $979 million in profit when they only produced $880 million. They were in true debt for more than $628 million by the end 2000. More than $630 million came from improper accounting and another $296 million in profit came from hidden tax cutting transactions. This sent the stock plummeting from $70 to 60 cents and produced losses of more than $60 billion on paper. With this fall in stock accounting, million, reported, profit, reality, enron, 2000, while, testify, stock, produced, now, major, last, fifth, fall, congress, chosen, came, board, before, 1997, workers, weak, violations, trying, true, transactions, tax, step, skilling, since, signed, set, sent, senate