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Dennis,
You don't have to be a reformed accountant to realize that this is a bizarre development, nor to correctly point out, as you do, that it flies in the face of what underlies all of GAAP. I think your example of what happens if an agreement is terminated shows just how wrong-headed this approach is -- acceleration of revenue recognition upon early termination just shows that the wrong event is being used to trigger recognition. This isn't rocket science, but it does seem to require more (un)common sense than some people who should know better can muster.
Curt Carmack - Posted by: curtiscarmack Posted on: 04/07/09 You are currently: a Guest | Members login | Terms of Use
Couldn't agree more
curtiscarmack | 04/07/09
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