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Technology Stocks : DELL Bear Thread -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (2292)	11/12/1998 7:56:00 PM
From: Chuzzlewit	Respond to of 2578

Dave, you asked Why are these companies allowed to keep 2 sets of books (1 for IRS and 1 for wall street)? It's called GAAP! And accounting standards are still a matter of trust and faith. Auditors are useless except in cases of out and out fraud (and only then when they can spot it), because the issues usually raised are things like the proper depreciation rate to use, or the quality of the accounts receivable. And fuzzy and misleading accounting really gets crazy when companies merge and we get a series of one time write-offs (which seem to occur regularly every quarter). But not to worry. We'll just ignore all of those recurring nonrecurring charges. TTFN, CTC