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Technology Stocks : BMC Software

BMCS 0.00520

-36.6%

Nov 3 2:14 PM EST

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To: norm chin who wrote (571)	2/18/1999 12:04:00 PM
From: Chuzzlewit	Read Replies (2) of 1492

Norm, what a lot of people don't seem to appreciate is that these changes are reflective only of accounting policies, not performance. What will happen is that the assets will increase and a writeoff will be taken over a number of years. The effect will be to make operations more transparent. In effect, what companies were doing was to immediately recognize the anticipated expenses associated with the completion of acquired R&D. The SEC has said that these expenses must be amortized over the life of the project. These changes have no affect on taxes or cash flow. They will simply prevent companies from padding their earnings by hiding behind these estimated expenses. TTFN, CTC

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