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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Patrese who wrote (7924)	11/18/1997 6:03:00 AM
From: Tumbleweed	Respond to of 13949

Why a Silver Bullet wouldnt work even if it worked! From the net... Meantime however, at least Boeing Corp is taking the problem seriously and changed its computer systems to handle 4-digit dates early to avoid Y2K problems. However, terminal users were so used to typing in the last two digits for the year, they simply typed in "97" twice for the date because the machines won't budge unless it gets four digits. However, the company's warehouses were suddenly bulging with goods - all scheduled for delivery at various dates in 9797. A little education for users could surely have prevented the problem...... Possibly apocryphal but amusing nontheless Joe C

To: Patrese who wrote (7924)	11/18/1997 10:28:00 PM
From: David Eddy	Respond to of 13949

Patrese - he IRS is going to allow companies a choice of either expensing their Y2k costs like they would do with research & development costs, OR they can choose to amortize them over a period of up to 5 years. I'm NOT a tax attorney, however... This is just how the IRS will accept reporting expense/capital numbers to it. What counts is what FASB has said: current period expense. I believe it is FASB ruling that detemine how the numbers are reported to the financial world... IRS is a different set of books... Isn't that why they call it double entry book keeping? <g> - David