Winston-Salem, N.C. (Feb. 14, 2002) -- After published reports revealed the use of special purpose entities as a way to move debt off its balance sheet, cult favorite Krispy Kreme doughnuts agreed to change its accounting methods.

Krispy Kreme said it would move a $35 million expense, earmarked for a new doughnut factory, to its books instead of using SPEs -- the murky vehicle which ultimately caused the downfall of Enron.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access