Booking Holdings (formerly Priceline) Message Board

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Technology Stocks : Booking Holdings (formerly Priceline)

BKNG 5,050

-1.6%

Dec 3 3:59 PM EST

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To: AmericanVoter who wrote ()	3/15/2000 4:11:00 AM
From: Gerald Walls	Read Replies (1) of 2743

I thought this was interesting in light of some of the past discussion here of what qualifies as "revenue": Wednesday March 15, 3:46 am Eastern Time Study shows U.S. firms change revenue booking -WSJ biz.yahoo.com NEW YORK, March 15 (Reuters) - At least 32 companies have changed the way they book revenue following U.S. Securities and Exchange Commission scrutiny of revenue accounting practices, the Wall Street Journal said a Bear Stearns Cos. Inc. (NYSE:BSC - news) study shows. The findings come about three months after the SEC issued a bulletin about accounting practices, according to the Journal's Wednesday edition. Recently regulators have focused on the way companies book certain revenue to make their results appear better than they were, the Journal said. For example, certain Internet companies counted the value of sales of an actual purchase rather than the transaction fee the company, as an agent, collects for the sale. Pat McConnell, a Bear Stearns senior manager, told the Journal that revenue recognition issues were among the most serious financial reporting problems and can lead to serious cash flow problems, stock plunges, and companies going out of business, the Journal said. The study cites two companies that have voluntarily change their accounting following the SEC guidelines: defence contractor Raytheon Co. (NYSE:RTNa - news) and clothing retailer Limited Inc. (NYSE:LTD - news)

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