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To: steve harris who wrote (92346)	1/16/2003 11:19:34 AM
From: TGPTNDR	Read Replies (2) \| Respond to of 275872

Steve, Re: <Is Worldcom an example of what you are asking?> Yes. According to people familiar with the matter, Ms. Cooper soon found something that caught her eye. In quarter after quarter, starting in 2001, WorldCom's chief financial officer, Scott Sullivan, had been using an unorthodox technique to account for one of the long-distance company's biggest expenses: charges paid to local telephone networks to complete calls. Instead of marking them as operating expenses, he moved a significant portion into the category of capital expenditures. The maneuver was worth hundreds of millions of dollars to WorldCom's bottom line, effectively turning a loss for all of 2001 and the first quarter of 2002 into a profit. Ms. Cooper contacted Max Bobbitt, the head of WorldCom's auditing committee, setting in motion a chain of events that resulted in Mr. Sullivan's firing late Tuesday. The company said that it had turned up $3.8 billion of expenses that were improperly booked and will now be restated. mindfully.org At this point I'm just trying to get a handle on Accounts Receivable vs Revenue. And why What you are implying is not possible. Message 18450783 Just curiosity and lack of accounting knowledge on my part. -tgp