Seeking Alpha

In addition to banks and regions, Spain includes a $32B bailout of its power industry in its...

In addition to banks and regions, Spain includes a $32B bailout of its power industry in its 2013 budget. In an accounting move worthy of Enron, power companies for a decade have been allowed to book more revenue than they actually received, driving their accounts receivable - along with the liability side of the balance sheet - sky high. Now the bill comes due.
Comments (2)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    That which cannot go on forever, won't. See also, U.S. budget deficit.
    3 Oct 2012, 07:39 AM Reply Like
  • youngman442002
    , contributor
    Comments (5129) | Send Message
     
    pro forma revenue...where have we seen that before....lol
    3 Oct 2012, 07:47 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs