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Technology Stocks : Compaq
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To: rudedog who wrote (59811)4/24/1999 7:41:00 PM
From: Chuzzlewit  Read Replies (2) of 97611
 
I don't think there are accounting irregularities, but there are accounting problems. The nature of the business means that inventory sits in the channel and is counted as revenue. Unsold inventory causes problems because it either comes back out or it is sold at deep discount depressing sales of current models. The second problem is the use of factors. That means that the DSO numbers are meaningless. So the real question is what do the accounting numbers account for?

TTFN,
CTC
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