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CPE Credit: 2
Course Level: Intermediate
Prerequisite: None
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Description:
It was the largest collapse of a financial institution in history; Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. The use of certain repurchase transactions (Repo 105) played a major role in the balance sheet manipulation leading up to the bankruptcy filing. This course will use the Lehman collapse to illustrate how rules-based accounting (GAAP) can be easily manipulated and how management can knowingly shop for legal opinions in order to cover questionable transactions.
You Will Learn How To:
Identify the purpose of repurchase agreements and the rules that regulate them
Recognize balance sheet manipulation
Identify how rules based accounting (GAAP) can be easily manipulated
Identify the consequences of Lehman Brothers’ use of repurchase agreements
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PRESENTERS: Bruce Dubinsky, CFE, CPA, CVA, CFF
RECORDING DATE: November 21, 2013
DURATION: 100 MINUTES
FIELD OF STUDY: Accounting
Last Updated: February 2018
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