Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (55961)	5/9/2000 8:47:00 PM
From: The Phoenix	Read Replies (2) of 122087

A@P, Accounting fraud? I believe CSCO is following FASB. Sure I do agree with you that earnings based solely on operation is a better mearsure but FASB allows companies to include acquisition costs, investment income, tax benefits from stock programs, etc... Given this companies will structure their business with the goal of reaching target earnings and taking advantage of all the tools provided by the FASB. I see that Bloomberg decided to report earnings removing these FASB allowed categories and therefore appears to have warped the actual picture.. but CSCO has been reporting this same way for 40 quarters. Should FASB do something to provide a better picture onto operating earnings - Yes. Is there a fraud case here - No. Will companies run their businesses different if the FASB changes the rules - Absolutely.... they'll probably be less acquisitive for sure. Here's a pretty accurate assesment on the CSCO thread of what I said. Message 13653006 OG

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