Under the scheme, the complaints say, Enron executives shifted receivables owed by California utilities from the retail division to the wholesale division, effectively using the successful unit's profits to hide the losses.
One reason for that: For the six months ending Apr. 1, 2006, the latest for which this data is available, unsecured receivables owed to Apple by its manufacturers shot up by $706 million.
Pavlo employed an array of tricks taught to him, he says, at MCI to hide hundreds of millions of dollars in aging bad debts and clearly uncollectable receivables owed by a raft of upstart telecom resellers.
This includes cash (any money in bank accounts), accounts receivable (money owed to you), office supplies, and anything expected to be received or used up within a year.
Its business focuses upon the detection, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, governments, retailers and others.
Asset accounts, which are debit accounts, include cash, accounts receivable (money owed by others for goods sold on credit), inventory, prepaid expenses, plants and equipments, office supplies, and investments.
Use only those accounts receivable who owe something to you.
The inquiry focuses on accounts receivable -- money owed but not collected -- which is recorded as an asset on the balance sheet.
The price consists of $228 million cash and $17 million in accounts receivable, the amount owed to a business for products that have been purchased.
Assets: Income and also "receivables" which are owed to your company, but are not received as income yet but are listed and totaled in an asset account.
