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Technology Stocks : All About Sun Microsystems
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To: QwikSand who wrote (35144)9/10/2000 6:14:12 AM
From: JDN  Read Replies (1) of 64865
 
Dear QS: No, I dont get Barrons, and am not a subscriber so they wouldnt let me follow the link. PM it if you like, but I will tell you right now without even reading it its all BS.
In the USA accounting is absolutely governed by the Principles of the AICPA and APB (American Institute of CPA's and Accounting Principles Bulletins)plus the FASB (Financial Accounting Standards Bulletins). This whole thing is STRONGLY REGULATED by the SEC. There is NOT A CPA FIRM IN AMERICA that would even THINK about violating those standards. Now, I will tell you there OBVIOUSLY must be different acceptible accounting methods for a SOFTWARE COMPANY than for a GROCERY STORE. To attempt to compare the two is ridiculous. So, to that extent sometimes you see principles that appear to differ but if you look WITHIN THE SAME INDUSTRY they will not. When I was YOUNG often we did have choices even within the Industry and many people felt that was the way to go as special situations often arise HOWEVER, the powers to be didnt like that so for years now every effort has been made to STANDARDIZE accounting principles WITHIN THE GIVEN INDUSTRY.
My Specialty for many years was SEC reporting. I have spent much time in my past arguing with the SEC as to correct reporting and I even contributed to the Opinion on "Audits of Banks" long ago. I dont know who the author is of that article, but I suspect I have FORGOTTEN more then he will ever know about SEC reporting. Barrons is becoming IMHO a piece of junk for authoratative reporting on anything. JDN
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