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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (64025)	5/14/2003 10:05:20 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

So according to you we should eliminate bad debt reserves, inventory reserves, revenue contracts estimated on a percentage of completion basis, goodwill amortization/writeoff estimates, depreciation estimates, estimated pension liabilities based on actuarial estimates, and estimated tax deferrals? They are all estimates, so in BWAC's new accounting principles, none of them count. So if we just start to book what we know for sure without any estimates, let's just get rid of the income statement altogether and just use cash flows statements. But OOPS! If you want to know what slice of the pie from cash flows that belongs to you as a shareholder, you'll have to estimate dilution from all those instruments out there that might one day be converted to shares, which will decrease your piece of the pie. Or maybe in BWAC's new accounting principles, you only divide the PV of future cash flows by shares that are outstanding today and forget all about estimated fully diluted shares? If that is the case, I think you and I need to strike up a business relationship right now. I'll run out and buy up every share I can get my hands on and resell it to you for the amount that you calculate using your estimate-free accounting theories. Good luck, BWAC. If you truly believe in some of the things you are saying, I fear you may find yourself a very poor retiree one day.