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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.71

+0.9%

1:13 PM EST

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To: nihil who wrote (21198)	1/26/1999 8:31:00 AM
From: Cynic 2005	Read Replies (3) of 77397

<<A firm can write off R&D it performs. >> Huh! If compaq acquired DEC for 10 billion and takes a 5 bil R&D write off for the acquisition, how can one justify that? How much of it is real and how much is from future costs. When future costs are written-off it is easy show profit boost even with no revenue gain. Ask Gateway. The next thing these accounting shenanigans and the "see no evil and hear no evil shareholders want" is to write-off salaries paid as one time cost and report higher profit on an "operating basis." Well, I take that back - they are already doing it in the form of stock options. The funny thing is when it all blows-up, a la Sunbeam or Cendent, you can lynch the auditors and management who did it in the first place with pressure from management who did it due to the pressure from the shareholders. Just like this Clinton deal, nobody wants to take responsibility anymore. It is easy money, why bother?

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