Fin 46, the Ugly Gift Enron Keeps Giving You
The ingenious folks at Enron used hundreds of dummy corporations which no one seemed to own, to avoid taxes and hide boatloads of debt. The Federal Accounting Standards Board (FASB) came up with FASB Interpretation Number (FIN) 46 to avoid this problem in the future. This is a complicated economic test of related corporations to […]
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