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To: ild who wrote (200828)	10/29/2002 10:58:20 AM
From: ild	Read Replies (1) \| Respond to of 436258

10:03 ET New accounting rules could have material effect on IT service co's - Merrill Lynch : Merrill Lynch says that new accounting rules proposed by the SEC and FASB could create considerable near-term confusion and put pressure on CSC, EDS, ACN, BE, and other IT services co's; changes would likely eliminate some percentage of completion accounting and would be effective next year on contracts signed after Jan 1; may impact current year earnings ests on a one-time basis, while the impact on 2003 EPS and beyond may not be as negative or possibly even positive. Where is IBM on this list? Wasn't it the most aggressive in revenue recognition on service contracts?