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“Whatever was on the left-hand side(liabilities) was not right and whatever was on the right-hand side(assets) was not left.” What was comment about?

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تم إضافة السؤال من قبل Vinod Jetley , Assistant General Manager , State Bank of India
تاريخ النشر: 2014/12/20
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
من قبل VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Liabilities was not right  (= not Real)

Right hand side was not left (=No balance with assets)

Muhammad  Sultan
من قبل Muhammad Sultan , construction foreman , Alwasead Alaqarya

Thanks for invitation 

Very nice question 

Agree with senior's 

Kathy Mustafa
من قبل Kathy Mustafa , Personal Assistant to CEO- Managing Sales and Marketing Departments , Saudi Kinda Real Estate

It sounds like an Enron  or Arthur Andersen case... Of course I had to use google and found out that this happened to a Bank in India... " It was reported that the assets of Lehman Brothers were worth only a fraction of their book value and they had little capital to tap into to pay their creditors"

 

http://www.dnaindia.com/analysis/column-basel-iii-on-the-way-it-s-advantage-india-1692884

 

 

 

Vinod Jetley
من قبل Vinod Jetley , Assistant General Manager , State Bank of India

One of the interesting comments on the Balance Sheet of Lehman Brothers, after its fall in September2008.

souha safir
من قبل souha safir , إدارية , قطاع التربية

Thanks for colleagues on these answers

Basit Ali
من قبل Basit Ali , Director of Engineering , Laverda Suites & Villas / Blue Bay Resorts

Agree with Venkitaraman

sivanka De silva
من قبل sivanka De silva , Floor Manager , Al Madina Hypermarket

in this question this basic accounts first sentence left side Colum of the accounts sheet liabilities figure was in correct and basically right hand side of the account sheet assets should be balance, but was not left, means nothing left, this could be bankrupt.

Snezana Brankovic
من قبل Snezana Brankovic , • Senior Consultant in Marketing Department , „Stankom” Business System

The comment in simple terms illustrates the rot that crept into the financial sector as a result of factors like loose lending standards, poorly underwritten subprime mortgages, shadow financing, unbridled speculation, gross asset-liability mismatches and inadequate liquidity buffers. With little owned funds left with and liquidity dried off, the banks went begging with their hats on hand to the taxpayer to bail them out. That was the scene we saw in2008 when the financial sector in the western world went berserk. 

Monsuru Shittu
من قبل Monsuru Shittu , Revenue officer in Department of Tax Assessment and Audit Department , Kwara state Internal Revenue Service.

it implies, in business any thing that has an utmost importance should be given priorities compare to the less important

Wolf Klaas Kinsbergen
من قبل Wolf Klaas Kinsbergen , Managing Director, Designer , ingenieursbureau KB International NV

somebody fell a sleep during setting up the contracts, otherwise what is right is left and what is left is right

Muhammad Usman Tariq
من قبل Muhammad Usman Tariq , Visiting Faculty , National University of Science and Technology

both were not left.