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To: Logain Ablar who wrote (514)3/22/2000 6:45:00 PM
From: George Papadopoulos  Read Replies (2) | Respond to of 717
 
>GAAP is pretty clear on revenue recognition guidelines...

As a CPA and former auditor I must say that I totally disagree with your statement.



To: Logain Ablar who wrote (514)3/22/2000 6:53:00 PM
From: eddie  Respond to of 717
 
Reply to 515

TO MANDRAGORAN

You are right about the GAAP rules. Large contracts like these usually stretch out over a long period. If they would have followed the "PERCENTAGE OF COMPLETION RULES", which allows you to only book revenues when is it earned, they would have been okay.

thanks

eddie


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