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Politics : Ask Michael Burke
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To: Don Lloyd who wrote (76292)2/20/2000 9:18:00 PM
From: Michael Bakunin  Read Replies (1) of 132070
 
Don -

I think I realize why we will never be able to settle our argument in re: employee options grants. That is because accrual accounting is not inspired by economic costs, and your thought experiments are.

I'm not wedded to accrual accounting, but when it comes to reporting to shareholders, GAAP is the best we've got. I criticize GAAP's flaws, while you appear to criticize its basis, accrual accounting.

Am I wrong?

-mb
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