Re: [ISN] What's a Little Hacking Between Friends?

From: cult hero (jerichoat_private)
Date: Wed Jun 02 1999 - 04:20:22 PDT

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    Reply From: Woodchuck <djvat_private>
    > Reply From: Don Tobin <dontat_private>
    > Therefore, it is very likely the companies did not lie in their
    > interpretation of what is allowed by law, or mine.  Anything expended in
    > the detection, tracking, and recovery is allowed to be deducted as an
    > expense, and it likely is if you dig through the several thousand pages of
    > expense sheets accompanying an annual report. 
    The magnitude of the losses claimed should have mandated their
    line-item report to the stockholders. Sound accounting practise
    would mandate their entry into the corporate P&L.
    Large, one time charges are routine items in annual reports.
    Events out of the normal run of business need to be reported.
    I will defer to a CPA on this, but there is something suspicious
    about claiming a loss to throw a man in jail, but not accounting
    for it on one's books.
    You will recall that these losses were far beyond detection and
    tracking, and that in most cases, there was no "recovery". (I.e.
    nothing was "taken" or "damaged"). IIRC, among the losses were the
    complete R&D costs of SunOS. "Losses" like this are among those
    that have raised eyebrows.
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