[jwalsh07]

What Byron doesn't mention is this fact. Every other public company of Halliburtons size and scope books overruns exactly the same way and exactly in conformance with GAAP.

[Howlin]

Exactly. And neither does anybody else. And from what I have read, changing the reporting the way they did made their finances MORE accurate than they had been before.

[BlackRazor]

"What Byron doesn't mention is this fact. Every other public company of Halliburtons size and scope books overruns exactly the same way and exactly in conformance with GAAP.

A couple weeks ago, Fox News reported that 10 of the 15 largest comparable companies to Halliburton used the same accounting practices. They also reported that the IRS advises this is the appropriate way to account for scope overruns, because it allows taxes to be collected more expeditiously. Finally, it should be noted that the 89 million dollars of additional revenue this gave Halliburton was less than 1% of their total revenue for the year (more like half a percent).