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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 336.57-0.3%Dec 8 4:00 PM EST
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To: Wally Mastroly who wrote (1606)11/29/2001 1:35:58 PM
From: Boca_PETE   of 10065
 
Wally: RE:("estimate restructuring costs for the next 12 months and post them as a one-off charge in the current quarter")

JMHO. Seems like the FASB / SEC accounting prescription is reasonable since the losses actually occurred in 2001. Reporting them as incurred (expended) would distort future quarters with charges that relate to year 2001 loss. But one could guess that corporate managements also might want to get these costs behind them so that corporate profits for future periods look better in comparison. It is hard to argue that the costs are not an "Extraordinary Item" (hopefully a one-time event).

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