The problem is that the best of all worlds involves a lot of accounting legwork and judgment. FASB already has a separate project dealing with accounting and disclosure for financial guarantees. Other gnarly issues include determining when off-balance-sheet contingencies are probable enough to become actual liabilities that require recognition in the financial statements. In the wake of the Enron scandal, FASB may be less inclined to leave matters of judgment to corporate finance departments and their auditors. —A.O.
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Inside this Report
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Feature Articles
- New SEC Rules Right On Time
- Off-Balance-Sheet Deals: C'est la Vie?
- Off the Balance Sheet, in a Nutshell
- Alternatives to Off-Balance-Sheet Deals
Recommended Reading on Off-Balance-Sheet Financing
- Complex Financing and Cost of Capital
- Disclosure and Investor Trust
- Supersizing Annual Reports
- Banks Coming Clean about Their Leverage
- Bigger Corporate Balance Sheets
- Synthetic Leases, Real Problems
- New Life for Synthetic Leases
- Synthetic Real Estate Leases
Enron Archive
- Beyond Enron
- Preventing Future Enrons
- The Amazing Disintegrating Firm
- What Andrew Fastow Knew
- Are Fastow's Partners on the Hook?
- Independent SPEs?
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