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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Stcgg who wrote (23300)9/30/2000 1:43:05 PM
From: Jorj X Mckie  Read Replies (2) of 436258
 
Though I have no doubt that the investing world will latch on to that latest filing. That information has been in previous filings since the SEC and FASB started talking about these isssues....in other words: Old News

Taken from CSCO's 10-Q dated 6/13/2000:
10kwizard.ccbn.com
Also in the 10-Q dated 6/15/1999
10kwizard.ccbn.com
WE CANNOT PREDICT THE IMPACT OF RECENT ACTIONS AND COMMENTS BY THE SEC AND FASB
Recent actions and comments from the SEC have indicated they are reviewing the current valuation methodology of in-process research and development related to business combinations. The SEC is concerned that some companies are writing off more of the value of an acquisition than is appropriate. We believe we are in compliance with all of the rules and related guidance as they currently exist. However, there can be no assurance that the SEC will not seek to reduce the amount of in-process research and development previously expensed by us. This would result in the restatement of our previously filed financial statements and could have a material adverse effect on our results of operations and financial condition for periods subsequent to the acquisitions. Additionally, the Financial Accounting Standards Board ("FASB") has announced that it plans to rescind the pooling of interests method of acquisition accounting. If this occurs, it could alter our acquisition strategy and potentially impair our ability to acquire companies.
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