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>Yes, that is tremendously important aspect here - the US tech would look better on paper

It's completely unimportant. Nobody is getting fooled "on paper" by amortized salaries.






Except for example the millions of stock market casual participants.

People is getting fooled by "adjusted" earnings that reduce salaries "on paper" by hiding the "non cash" component.

Want a bet?

I’ve seen it used in UK listed companies to massage the profit numbers and make divisions of the company seem more profitable than they are




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