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To: patron_anejo_por_favor who wrote (146633)	1/28/2002 6:46:55 PM
From: reaper	Respond to of 436258

Patron, please see Message 16973430 The accounting at Expedia is by all indications clean and appropriate. There is a very good business reason for the deferred revenue account in their business to be down substantially from its seasonal peak in June (note that it is up over 2.5x on a year-over-year basis from last December). The posters on that Yahoo! thread don't really know what they are talking about; they are taking a very generalized tactic in analyzing financial statements (checking the direction of deferred revenue) but not taking into account how the inherent business changes these accounts from period to period. This is exceptionally lazy "accounting analysis", no less lazy in fact than just taking a P&L at face value. Cheers