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To: ahhaha who wrote (4680)	7/2/2002 4:57:31 PM
From: Keith Monahan	Read Replies (1) of 24758

Please try to argue your position though, because I want to show what fraud accountancy has been forced to embrace by tax collecting governments. What exactly are they being forced to embrace? If the accountants want to change the standards and treat capital as a cost in the period incurred then they should do it. The adjustments can then be made for tax reporting. I am not arguing in favor of distributing capital costs over time. In fact, I think it is a terrible idea. Management is not held fully accountable for the spending on large capital projects. Since the P&L impact is deferred, these mega-projects never seem to get the scrutiny they should. Then you end up with big writeoffs for failed projects.

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