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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: bigcue2000 who wrote (25368)2/14/2002 11:21:15 PM
From: Larry Brubaker  Read Replies (1) of 27311
 
Bigcue, I see the write downs of assets as an accounting gimmick to "clear the books" of ongoing depreciation of equipment and amortization of intellectual property. By taking these charges now, they don't have to be taken a little at a time each quarter, which will make future quarterly earnings look better.

What doesn't pass the smell test to me is how can they write down the value of equipment and at the same time claim they are ramping up production on presumably that same equipment? IMO, this is clearly an accounting gimmick to make future results look better by taking big charges now. On the other hand, these types of accounting shennanigans are quite common.
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