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To: Zeev Hed who wrote (55156)	9/26/2000 8:33:38 AM
From: GVTucker	Read Replies (1) \| Respond to of 93625

Zeev, RE: Dan, a CFO that does not take every single expense he is legally entitled to (rather than capitalize it) is not doing his job. If companies could charge to expense Cap-Ex they would, yes it will hit the bottom line first, but that is also a major reduction in taxes they have to pay, and thus from the point of view of cash flow and taxation, you always take what you can and classify as many of the startup costs as expenses rather than capitalize these. Zeev, GAAP books are very different than tax books. CFOs are always very aggressive in expensing as many items as possible for tax purposes but capitalizing those same items for reporting/GAAP purposes.