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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (44597)1/26/1999 12:23:00 PM
From: IceShark  Respond to of 132070
 
Mike-and-Will suggests that accrual accounting is partly to blame, but IRS prefers corporations to use accrual accounting.

No, it is a spineless AICPA and SEC that are over a decade behind the curve. Aided and abetted by Wall Street. Although, all this really doesn't matter on "fair" market valuation since the Street would just talk "investors" into believing that reasonable earnings multiples should be X times higher.

Wait a minute, the Street already convinced most everyone that earnings don't matter anyway in this new-pair-of-dimes. What was I thinking, silly me? Nevermind. -g-

Regards, Ice



To: Ilaine who wrote (44597)1/26/1999 12:23:00 PM
From: Mike M2  Read Replies (1) | Respond to of 132070
 
CB, I'm not making a judgement about accrual accounting but simply pointing out the fact that it allows more latitude for creative accounting. The SEC has made it's cover their butt remarks long after the damage has been done so they can say we warned the public but is much too late after the bubble has been inflated. Did u see me book recommendation Gary Shilling " Deflation" at B&N. hohoho Mike


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