From: CurtAdams@aol.com
Date: Mon Aug 12 2002 - 13:18:03 MDT
In a message dated 8/12/02 12:15:26, mlorrey@yahoo.com writes:
>One big problem is that a large portion of this 'accounting fraud' is
>simply horse manure being produced for political purposes. Take
>depreciation, for example. Moore's Law illustrates that computer
>hardware and software depreciates in real terms by 50% every 18 months,
>and companies like Enron, Global Crossing, etc were using accounting
>standards that recognised this fact. A few democrat senators and
>congressmonsters wanting their party to win big in this coming election
>only needed to lean on some people at the IRS and SEC to force these
>companies to use the old rules of depreciation, that only let you
>depreciate at rates of less than 10% a year, and voila, the regulators
>have 'discovered' billions and billions of dollars in 'hidden losses'
>that the companies 'fraudulently hid' using 'fraudulent accounting
Un,
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