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Strategies & Market Trends : Value Investing

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To: Bob Rudd who wrote (16770)	4/8/2003 5:44:00 AM
From: TimbaBear	of 78687

Bob Rudd Thanks for posting the article, and you're correct, I did find it interesting. WHAT MAKES THEM LOOK EVEN LEANER AGAINST COMPETITORS IS AN APPROACH TO ACCOUNTING FOR INVENTORY THAT ONLY DELL EMPLOYS. I find myself always checking my pockets to see what's missing when a company employs an accounting "convention" that no one else does. It never bodes well for my interests as a passive owner. DELL, THE WORLD'S SECOND-LARGEST PC MAKER BY UNITS SHIPPED, TREATS IN- TRANSIT PCS DIFFERENTLY, MIXING THEM WITH ``OTHER CURRENT ASSETS.'' DELL is pretty arrogant and it doesn't surprise me that they felt like they had to reinvent the wheel because they were the first one to have ever run across the issue of making something and then shipping it to a customer and faced with the really perplexing question: "What category do we put the stuff into that we've sold and shipped?" ``It's totally variable,'' Michael Dell said in an interview. ``There's NO STANDARD WAY OF ACCOUNTING FOR INVENTORY IN THE CHANNEL. Dell doesn't have any inventory in the channel; we have Dell and we have the customer.'' Isn't that just so special? PosFCF

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