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Technology Stocks : All About Sun Microsystems
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To: Charles Tutt who wrote (47010)1/25/2002 5:32:16 PM
From: alydar  Read Replies (1) of 64865
 
<< don't think pro-forma has much to do with Enron. The GAAP numbers were out there for all to see. Special entities may soon be a thing of the past, though.>>

i agree with you on this point. but i think that the major wall street brokerage houses are guilty of accepting this distorted reporting. there has to be a separation between investment banking and brokerage as much as there has to be a separation between auditing and business consulting.

having been a corporate financial analyst at one time. when we generated pro-forma statement(s) they meant nothing more than a forecast or prediction into current or future events. in other words, they were meaningless. for seasoned wall street analysts to accept this garbage reporting is beyond my scope of comprehension.

all jmho, rocky.
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