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To: Keith Monahan who wrote (4670)	7/2/2002 10:33:13 AM
From: GraceZ	Respond to of 24758

Having said all this, I must say my warped accounting mind cannot figure a way to justify capitalizing telecom line costs, as appears to be the case at WCOM. Thanks for confirming my thoughts. There are a lot of obvious gray areas and there are areas that are not gray in the slightest. If they chose to capitalize rented lines then I think jail time might be in order.

To: Keith Monahan who wrote (4670)	7/2/2002 10:51:15 AM
From: Ahda	Read Replies (1) \| Respond to of 24758

Kieth i was sitting here thinking this morning the general consensus on WCOM around me it was an outright fraud I guess i know many warped thinkers. That brought to mind IRS forms they are standardized whatever program you use there is uniform procedure. I am aware there are variables in accounting many questions could be eliminated if we had standard forms that came from the SEC you fill in the blanks as we request. We make the laws now it is your obligation to follow them. This would reduce costs create a far more simple method of accounting by reducing grey areas. The SEC has large problem as they don't have the legal back up that corporations have. Yet here we are so far to many legal running close to illegal due to interpretation. It is not impossible to do. It would create a great deal of backlash because this would amount to a set standard of figures that would reduce the question of who treats what how.