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Microcap & Penny Stocks : Financial Shenanigans: Stocks Looking for a Fall -- Ignore unavailable to you. Want to Upgrade?

To: Anaxagoras who wrote (104)	11/14/1998 4:13:00 PM
From: Anaxagoras	Respond to of 108

Of similar nature is something you'll find at the AICPA site, aicpa.org Once you're there, click on the link to <<SEC Chief Accountant's October 1998 Letter to AICPA on Auditing and Financial Reporting Concerns>> This is a very long letter that I haven't finished wading through, but which is very informative concerning what the SEC this year is most focused on as far as accounting irregularities are concerned. Rich source of info, even though a bit dry. Anaxagoras

To: Anaxagoras who wrote (104)	11/15/1998 4:59:00 AM
From: HeyRainier	Respond to of 108

Good stuff Anaxagoras; thanks very much for the contribution. I guess I'll be wading through those links for a little while longer; they indeed are quite long. Regards, Rainier

To: Anaxagoras who wrote (104)	11/17/1998 8:20:00 AM
From: Anaxagoras	Read Replies (1) \| Respond to of 108

Just realized that the issue of aggressive write-off of IPR&D was at the heart of ENVY's restatement of earnings. ENVY is a somewhat popular short on SI. Here's an extract from their press release, FWIW: NASHVILLE, Tenn.--(BUSINESS WIRE)--Nov. 16, 1998--ENVOY Corporation (Nasdaq/NM:ENVY - news) today announced that it has resolved the issues raised by the staff of the Securities and Exchange Commission (the ''SEC''), relating to the Company's accounting treatment for acquired in-process-research and development technology for certain acquisitions. Recent speeches and other public announcements by the Chairman of the SEC and members of the SEC staff have expressed concerns over the nature and appropriateness of the valuation methodology utilized by the accounting profession and other professionals in valuing in-process research technology, and the Company has previously disclosed that similar concerns were expressed to the Company by the SEC staff. etc., etc. Here's the rest, if ya care: biz.yahoo.com Anaxagoras