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Enron
Term category: Companies
In 10 words or less:  A company that imploded in 2001 due to a wave of accounting scandals.

Definition: Enron was a company that went filed for bankruptcy in 2001 following an accounting scandal.  At one time, Enron  was the 7th largest company in the United States.

Advice: Essentially what happened was Enron created a bunch of off-balance sheet partnerships to hide its debt and improve its financial picture in order to gain more favorable credit terms and pump up its stock price.  Eventually, this scandal became known and the company came crumbling down.

 

 

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