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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: jlallen who wrote (142449)	8/3/2004 10:20:15 PM
From: steve dietrich	Read Replies (1) \| Respond to of 281500

Read about Cheney and the SEC on WSJIE, SEC found that the accounting change was within acceptable GAAP. They just neglected to inform anyone of the change of accounting method for a year and a half. I do believe that any material change in accounting method is required to be disclosed in the footnotes of the annual financial statements, so if they didn't follow the FASB,I don't see how they could be in compliance with GAAP or the SEC. Hope congress digs a little deeper into this one, if we can spend all those millions investigating whitewater, we can spend a little for the REpublicans. The CFO was fined 50,000, now that ought to send a strong signal to any other big corporation that wants to mislead investors by not telling them of accounting treatment changes!