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To: rkral who wrote (33)6/13/2002 2:34:51 PM
From: ClarksterhRespond to of 786
 
Ron - Does that mean you and Huey have agreed that the Cash Flow Statement SHOULD BE ADJUSTED?

No, I only agreed that they COULD be adjusted, not that they SHOULD be adjusted. To restate my philosophical point more strongly, cash flow should never be adjusted. There should remain in any reporting at least one thing which is unfoolable (i.e. without adjustments) and that is cash flow. Only earnings should be adjusted, and always only to smooth out the lumps in cash flow so that one months earnings is comparable to the next months.

Clark