Off-Balance Sheet

Definition

Financial obligations kept hidden from the balance sheet through technically legal accounting shenanigans, perfected by Enron.

Example Usage

We structured the acquisition off-balance sheet using a special purpose vehicle, which is totally not fraudulent.

Origin

Accounting terminology popularized during Enron scandal in 2001

Fun Fact

Enron's use of off-balance sheet structures was one of history's most expensive accounting failures

Source: Advanced accounting and corporate finance terminology

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