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Now allow us to explore what exactly is economic accounting and why it is required with the companies and What exactly are its distinctive segments of which kinds a part of monetary accounting.

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As well as remaining the biggest personal bankruptcy reorganization in American background, the Enron scandal undoubtedly is the most important audit failure.[sixty five] It involved a economical scandal of Enron Company and their auditors Arthur Andersen, which was disclosed in late 2001.

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