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Re: hotmeat post# 466288

Thursday, 10/27/2016 5:33:53 PM

Thursday, October 27, 2016 5:33:53 PM

Post# of 726454
hotmeat, sorry, I believe it is an incorrect...

...understanding of the liquidation basis of accounting.

...an "entity" adopts such when the circumstances require such.

...and it is applied.

...it is not selectively applied.

...for example, to believe assets are coming back from JPM or the FDIC, an entity under the liquidation basis of accounting would have to estimate what is expected to come back.

...not in just current period, but such assessments to all potential assets.

...so, of note, the WMILT REPORT $-0- estimated from such under the liquidation basis of accounting.

...easily confirmed with a simple phone call or email to the Liquidating Trustee.


...liquidation basis of accounting is easy to embrace, especially with EBK.

...GLTY.

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