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To: qgambit who wrote (82616)	6/16/2002 12:59:08 PM
From: Dan3	Respond to of 275872

Re: What you meant to say was that intel should EXPENSE all their capex COSTS Your words reflect more correct usage. I was trying to explain, from a direct induction perspective, why capex costs in profit calculations are not simple. A company can (and often should) be more conservative than GAAP in its accounting, otherwise you run the risk of NT style writeoffs, instead of consistent, quarterly adjustments to GAAP. Remember NT, unlike Enron, wasn't violating any GAAP rules, yet they still came up with a surprise loss of almost $20 Billion dollars in one quarter.