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Politics : Ask Michael Burke

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To: S. maltophilia who wrote (28614)	5/29/1998 10:27:00 AM
From: Kathleen capps	Read Replies (2) of 132070

For all those interested in the subject, todays Herb Greenberg's column at TheStreet.com has an excellent article on recent accounting tricks used by THNK. Makes great reading. Some excerts: "...Trick No. 1: Making a change in auditors seem like a good thing... Trick No. 2: Bolstering revenues by reversing noncash deferred revenues into actual revenues in recent quarters.... Trick No. 3: Making earnings look better than they really are by reversing previously taken charges... Trick No. 4: Bracing investors for a sudden shortfall in profits after you run out of charges to reverse.... Trick No. 5: Sugar-coating a CEO's resignation. CEO Scott Mednick suddenly quit a week ago." Kathleen

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