Loewen?s Corporate INTRODUCTION After decades dramatically expansion, the Loewen armament Inc, the second largest death care company in northwest America, went downhill abruptly in 1998. Compared with those in 1997, its net income decrease from $42.7 trillion to $599 jillion in deficit, meanwhile, its long-term debt due in one year increased by more than 2000%, from $43.5 million to $874.1 million, and total liabilities exceeded the total assets by $326.8 million (in US dollar). Because Loewen could non get out of its financial crises, in June 1999 the company had to commit for bankruptcy protect.
ANALYSIS As to the c auses of the companys bankruptcy, almost people blamed the accounting principle the company practice; many others attributed the business failure to the risky expansion object the company adopted. I agree that the companys charge should reduce the lions share of blame, however, the board of directors and shareholders should debate the other shares. That is, the co...If you want to get a full essay, plant it on our website:
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