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Q: how did David's scheme affect the overall appearance of Global's financial statement?
A: David provided statements that did not reflect the company’s current financial crisis, falsely misleading information about the corporation’s financial condition to creditors and investors. [ By borrowing more money, it would have showed that the company was in the process of losing assets and that would have sent red flags to stockholders to pull out and not invest any more money with the
company. “Enron allowed its chief financial officer, Andrew Fastow, to set up a fund called LJM and engage in suspect deals that made Enron's books look better.” This is similar to what David and his friend did, started up a sister company to Global to make their books look good. ]
Expert answered|Kaysha|Points 5895|
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Asked 4/3/2013 2:45:46 PM
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