cliffvb: re GV, hweb was correct imo .... the accrued bonuses mean that the 2005 bonuses were already expensed, but have not yet been paid .... so the cash flow has not yet occurred, but it's already been expensed on the income statement. However the expensing would have occurred on a quarterly basis, not just in Q4. Looking at the last 10Q, footnotes also refer to accrued bonus expense as 20% of the $499k increase in SGA y/y, so only about 100K greater in Q3 y/y. It could be that since they don't know the final amount of the bonus till year end, that a larger than average amount of bonus expense gets accrued in Q4 .... you might be able to deduce the amount by checking the 3 10Q's.
Of course, 2006 bonus expense will start accruing in the 1st quarter .... but should be less than the large expense accrued in Q4 ....
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