Take Two Interactive Software (TTWO: Nasdaq) taking off! Message Board

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Technology Stocks : Take Two Interactive Software (TTWO: Nasdaq) taking off!

TTWO 256.37

+1.4%

Oct 31 9:30 AM EST

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To: Chris Belk who wrote (164)	12/17/2001 8:32:29 AM
From: JakeStraw	of 191

SEC asks questions on Take-Two's accounting-Barron's biz.yahoo.com NEW YORK, Dec 16 (Reuters) - The Securities and Exchange Commission has asked video Take-Two Interactive Software (NasdaqNM:TTWO) to explain its accounting on certain impaired assets and one-time charges, according business magazine Barron's. The SEC in May asked Take-Two's chief financial officer why its books placed high carrying values on certain impaired assets, Barron's reported, citing researcher John Gavin who obtained the SEC's letters. In June, the agency asked the company how its one-time charges complied with accounting rules, the paper reported. In August, an SEC letter asked why the company grants 90 and 120-day payment terms and requested an accounting of cash payments on its receivables, Barron's said. The paper cited Gavin as saying that there was no evidence that the SEC's enforcement division is investigating Take-Two but that the letters suggest concern over its accounting for revenues and expenses. A Take-Two spokeswoman was not immediately available to comment. On Friday, Take-Two shares dropped by almost a third amid speculation that the company's results could be delayed and could disappoint investors braced for declining earnings.

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