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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (483928)5/28/2009 2:22:11 PM
From: i-node  Read Replies (1) of 1574059
 
It's more like a business counting all it's costs in the years going forward without counting any of it's revenue. By your measure every business is BK.

Oh.

I guess that explains why private pension funds are required to accrue past service costs in the periods in which benefits become determinate. NOT.

I guess that explains why publicly held companies report as expense the amounts that are actually PAID during the accounting period rather than those that are OWED. NOT.

I guess that explains nobody believes SS has a problem. NOT.

I guess that explains why the APB in Opinion # 8 (Nov, 1966) set out in precise terms how accruals for past service costs are to be determined and made, and the FASB went so far as to revisit and expand on the subject in SFAS No. 87 (Dec, 1985) to require accruals to prevent understatement of liabilities. NOT.

Give it up, man. You don't know WTF you're talking about. So just quit talking.
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