Special Purpose Entity (SPE) & synthetic lease

[Bapopik at AOL.COM]

   Christopher Byron explains a form of "Enron accounting" in his column in today's NEW YORK POST, 11 February 2002, pg. 31.
   He writes that Special Purpose Entities (SPEs) have been used to hide assets/liabilities from the balance sheet.  A Krispy Kreme "SPE" involved a "synthetic lease" arrangement.
   "SPE," according to Byron, has become a big accounting buzzword--but in a negative sense.

(Sorry for the extra "Caramel"...AOL is finally working--BP)