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Enron: A Fraud Example What were the failures that allowed the Enron fraud to occur?
Depreciation Expense
The allocation of the cost of a tangible fixed asset over its useful life, reflecting wear and tear, deterioration, or obsolescence.
Income Statement
A financial statement that reports a company's earnings, expenses, and net income over a specific period.
Ending Inventory
Merchandise value ready to be sold at the close of an accounting cycle.
Retained Earnings
The portion of net earnings not distributed as dividends, but retained by the company to be reinvested in its core business or to pay debt.
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