Announcement: Talk with Prof. Neal Stoughton,
University of California
Date: 22.05.2002
Time: 04:00 pm
Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien, Mezzanin
Title of the talk: Off Balance: Earnings Mismanagement through Special
Purpose Entities
Abstract: The extraordinary demise of the Enron Corporation has
highlighted the fallacy behind the use of earnings as a measure of value
in modern financial corporations. As details have emerged from other firms
in financial distress such as Global Crossing it has become apparent that
the current GAAP methods are unacceptable in the modern financial
environment. Even presumably successful corporations such as GE and IBM
have been significantly affected in recent months. We will discuss the
various accounting tricks that have been employed through special purpose
entities and how a new framework for analysis should be developed to put
the risks of special purpose entities back in proper balance.
registration: until 17.05.2002 under sonja.zeiner(a)gutmann.at or phone:
01/502 20-357