Research the internet on the meteoric rise and fall of Enron. Specifically answer the following questions:

1. How did Enrons leadership fool investors and regulators in hiding their debts and toxic assets? Using what cost accounting method did they manipulate financial standing?

2. Which accounting firm was also held accountable for the Enron crisis and what happened to it?

3. What was the fallout from the Enrons collapse? What new legislation and regulation was proposed to promote financial reporting of publicly held companies.