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Gold/Mining/Energy : Mirant Corporation (MIR) -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (601)7/8/2002 1:38:09 AM
From: Raymond Duray  Respond to of 903
 
Huh?

Here's what the Telegraph reported: "(REI) admitted late on Friday that it has artificially inflated its revenues by more than $7.9bn over the past three years."

Re: Roundtrip by there very nature do nothing to the Cash flow or earnings statement nor do they impact the balance sheet.

The whole purpose of bragawatts is to goose the income statement by creating phony assumptions about the future revenue stream. It most certainly does have an impact on the P&L.

Otherwise, what in the world are they restating for?

You seem horribly confused here. Wanna try it again?



To: Spekulatius who wrote (601)7/8/2002 6:55:10 AM
From: KyrosL  Read Replies (1) | Respond to of 903
 
I agree with you and will go a bit further: "revenue enhancing" tricks such as the wash sales of energy companies and Merck's reporting actually produce inferior income statements, by lowering reported profit margins. Ironically, one of the reasons Merck separated from Merck Medco was the low margins at Merck Medco.

Message 17704070

Kyros


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