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>> And I don't believe that estimates and projections have a place on the balance sheet of a company. In fact I'm quite sure that it is some of that stuff that has companies in trouble now.
I should have qualified my statements to be regarding corporate reporting. <<
Of course. And income statements and balance sheets are both full of estimates and projections. Not necessarily nefariously, either. There are things which need to be accounted for but the costs are not clear. This is standard G.A.A.P., not Accounting Principles According To Enron and WorldCom.
Mike
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