Enron, what's an audit committee to do?
Roman Weil how to prevent another Enron, and the V. Duane Rath
professor of accounting in the Graduate School of Business tells
a parable about leases. "If a company leases a plane from
another company," he posits, "whose balance sheet should
list the plane?" The company leasing the plane doesn't own
it and won't think to list it as an asset. Then again, because
the lease is long-term the plane's lessor has essentially removed
it from its inventory and turned a profit on it-so why, the leasing
company's managers demand of their accountants, should the plane
sit on its balance sheet?
politics of free trade
trade, most observers acknowledge, brings long-term economic gain.
But does it also carry political consequences? Lloyd Gruber, associate
professor in the Irving B. Harris School of Public Policy Studies,
believes it does-and notes that they may be negative.
A time before
East vs. West
stark, otherworldly images of Afghanistan filling newspaper pages
and television screens have made many Americans feel exactly that:
as if the Middle East is another world.
94, Number 4
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