From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Wed Oct 30 2002 - 08:18:37 EST
Re Tony T's [7869]: > Accounting numbers may be tempered by reality, but there is no strict correspondence between the fortunes of businesses, and the figures in the financial statements. Accordingly, a degree of subjectivity underpins all accounting disclosure, and what is published, and what is allow 'by the rules', is always subject to negotiation (between the auditor, client, SEC, FASB, and sometimes Congress). That said: yes you can reconstruct the numbers to obtain a better picture (but you need a decent accounting education to be able to do that). If you'd like to see more stuff on the accounting specifics at Enron, I've prepared a PowerPoint & HTML presentation at : http://zicklin.baruch.cuny.edu/critical/. Just follow "Enron: the Movie!" link on the homepage. < I enjoyed your movie, however, I think it needs a bit more polishing before it is ready to be premiered at the Cannes Independent Film Festival. My impression is that very few of those who undertake Marxian empirical research on value have what you might call a "decent accounting education". But, I might be wrong. To be able to meaningfully work with national income accounts, is a decent accounting education also needed? Why or why not? I noticed that Rob Bryer, a Marxian accountant, teaches financial reporting at the Warwick Business School in the UK. (For the benefit of others here's the person I'm asking about: http://users.wbs.ac.uk/index.cfm?section=people&group=af&leftcolumn=academic&leftsubcolumn=Research&context=bryeraccounting for valueDo you know what his take is on the Enron and Anderson et al scandals? btw, you guys know each other, right? Is there any material in print where the two of you critique each other's perspectives? > If anyone would like a copy of a paper that provides a fuller exposition of the accounting issues: "Enron Lays Andersen", that is currently under r eview, let me know and I'll send a copy. < Thanks. I'd like a copy. In solidarity, Jerry
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