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Re: mschere post# 22915

Monday, 05/05/2003 2:56:27 PM

Monday, May 05, 2003 2:56:27 PM

Post# of 432690
mschere, regarding accounting for Q1

Question..While IDCC closes its first quarter 3/31/03..How long after but prior to 5/13..can IDCC re-adjust its books to reflect new material financial information regarding its first quarter income? TIA

I am a CPA, but I have focused on the tax side for the last 10 years, so I welcome anyone who wants to correct me, but as I remember, hindsight should be used to get accurate figures on the books. If we are not booking any revenue from Nokia because there is still uncertainty, and that uncertainty goes away before reporting, then the revenue would be booked.

Don't take it to the bank, but what I think.
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