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Technology Stocks : Broadcom (BRCM)
BRCM 54.670.0%Feb 9 4:00 PM EST
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To: Roger Hess who wrote (4142)8/15/2000 4:05:20 PM
From: Raymond Duray  Read Replies (2) of 6531
 
Hi Roger,

I can't educate you as well as the CPA's around here might regarding the practices of the profession. I do know that the FASB and GAAP are no way near recognizing the tremendous thrust of obsolescence caused by the rapid advance of technology. And thus are taking retrograde steps like eliminating the pooling-of-interests accounting that has been a standard feature of technology company merger accountancy for many years. By trying to solve one problem, they will inadvertently enter the realm of the "law of unintended consequences", IMO. Look for a plethora of deals in the fall, as the deadline to end pooling-of-interests accounting is the end of the year.

If there are any accountants or tax professionals here who can explain to me why eliminating pooling-of-interest accounting is a good thing, I'd love to hear the justifications. So far, everything I've gotten from industry mouthpieces simply does not ring true.

Comments and corrections welcomed.

JM2C, Ray
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