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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (47249)2/5/2002 3:51:52 PM
From: Charles Tutt  Read Replies (3) of 64865
 
In that case, let me ask you some accounting-type questions relating to that whole Enron mess. As I understand it, if you have a controlling (i.e. >50%) interest in another corporation (a subsidiary or affiliate), you need to issue consolidated financials. But now I have heard that it's acceptable to own as much as 97% of a partnership and still not consolidate its financials. Have I got that right? What's the theory? Is it that only the GP is normally fully liable? If side agreements effectively make a non-GP liable for the partnership's debts, aren't they in essence a GP? What theory allows sidestepping accounting for the liability under such an agreement?

I'm trying to sort out in my own mind where the breakdown occurred.

I'll understand if you prefer not to comment.

Charles Tutt (TM)
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