ACC 201 Week 1 Discussion 2

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ACC 201 Week 1 Discussion 2 Enron was a company that came together in 1985 and it was a merger of two companies, Houston Natural Gas Company and Omaha-based InterNorth Incorporated. Jeffrey Skilling joined the company at a very opportune time because deregulation of the energy markets allowed companies to place bets on future prices and Enron took full advantage of that (Segal, 2019). Skilling used mark-to-market (MTM) accounting to manipulate the system. According to Segal MTM method can be manipulated, since MTM is not based on actual cost but on fair value, which is harder to pin down (Segal, 2019). Being able to log projected profits as actual profits is what began to get Enron into trouble. It falsified the amount of profit being made. For example the...

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