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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 283 / 352

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© D.L. Crumbley

Red Flags or Fraud Identifiers (contd…)

Hyped Sales: hyped sales by using his ample personal fortune to fund purchases.

Reducing Expenses: Rent-Way reduced the company’s expenses—a reduction of $127 million.  

Ebitda: Earnings before interest, taxes, depreciation, and amortization is a popular valuation method for capital-intensive industries.

Off-Balance Sheet Items: Enron had more than 2,500 offshore accounts and around 850 special purpose entities.

Unconsolidated Entities: Enron did not tell Arthur Andersen that certain limited partnerships did not have enough outside equity and more than $700 million in debt should have been included on Enron’s statements.

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