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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: Lizzie Tudor who wrote (1563)5/18/1998 4:43:00 PM
From: Melissa McAuliffe  Read Replies (2) of 6974
 
It's possible everyone is jumping to some conclusions here. I went back and reviewed the last two 10-Q's filed in August and November of 1997. Unless I missed something, it doesn't appear to have been sebl's practice to detail their revenue recognition policy except in the 10-K. It even refers the reader to the 10-K for detailed information regarding accounting policies. So instead of saying it is conspicuously absent in this 10-Q maybe one should review the prior 10-Q's first.

Shege--How much more do you want them to say with respect to their policies? It seems to me they've pretty much covered the bases and appear to be in compliance. Unless you think there is something more they should have mentioned?? If so, could you let us know.

Also, one note here---due to the fact that sebl has fewer but larger deals, I can guarantee that the auditors reviewed these contracts in extensive detail before signing off on the audit. If there were hundreds upon hundreds of smaller deals that wouldn't necessarily be the case. But there's just too much at stake not to and they are also subject to the same class action suits as sebl should dubious revenue recognition policies be discovered.

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