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Apr 17, 2011 · An Explanation of Off-balance Sheet Financing at Enron Enron’s use of off-balance sheet financing, namely through Special Purpose Entities (SPEs), is one of the most clear abuses of rules-based GAAP in the entire breakdown of this scandal. of benefits as a result of an improved balance sheet, possibly including directly lowering other borrowing costs that may be a function of leverage ratios. We review the requirements for achieving off-balance-sheet treatment for trade receivables securitizations under International Financial Reporting Standards (IFRS). Off-balance sheet financing enables a company to make use of expensive assets without having to invest large sums of money in buying them. It also enables a company to keep its LONG-TERM CAPITAL EMPLOYED as small as possible, improving its measured RETURN ON CAPITAL EMPLOYED . It is Off-balance-sheet financing. Off-balance-sheet financing listed as OBSF ... Suggest new definition. ... Off-Balance Sheet Financing; Off-Balance Sheet Instrument; Off-balance sheet (OBS), or incognito leverage, usually means an asset or debt or financing activity not on the company's balance sheet. Total return swaps are an example of an off-balance sheet item. Off-balance-sheet financing is most often used in order to comply with financial covenants. However, companies also use off-balance-sheet financing to preserve borrowing capacity (for example, when a company is close to hitting its limit on a borrowing line or would like to use its borrowing line for something else), lower their borrowing rates, or manage risk.