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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Link Lady who wrote (4243)3/2/1999 3:10:00 PM
From: Zeev Hed  Read Replies (2) of 4697
 
Wendy, I believe these were differences in accounting practices between what the SEC requires and what the IRS does. The IRS wants its tax and try not to recognize some type of losses (particularly writing up or down assets due to currency fluctuations until the assets are actually sold), while the SEC wants companies to be "honest" and mark to market all assets on the book, thus at the end of the year if an assets that was acquired in Wons for instance is worth less, they require it be reflected on the book. It has no impact on cash flow nor profits.

Zeev
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