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Senator Robert Byrd
Calling heads of state pygmies, labeling whole countries as evil, denigrating powerful European allies as irrelevant-these types of crude insensitivities can do our great nation no good. We may have massive military might, but we cannot fight a global war on terrorism alone. We need the cooperation and friendship of our time-honored allies as well as the newer found friends whom we can attract with our wealth. Our awesome military machine will do us little good if we suffer another devastating attack on our homeland which severely damages our economy. Our military manpower is already stretched thin and we will need the augmenting support of those nations who can supply troop strength, not just sign letters cheering us on. . . .
We are truly "sleepwalking through history." In my heart of hearts I pray that this great nation and its good and trusting citizens are not in for a rudest of awakenings.
To engage in war is always to pick a wild card. And war must always be a last resort, not a first choice. I truly must question the judgment of any President who can say that a massive unprovoked military attack on a nation which is over 50% children is "in the highest moral traditions of our country." This war is not necessary at this time. Pressure appears to be having a good result in Iraq. Our mistake was to put ourselves in a corner so quickly. Our challenge is to now find a graceful way out of a box of our own making. Perhaps there is still a way if we allow more time.
-Byrd's speech implies concern about the breakdown of
IFRS
International Financial Reporting Standards, a set of international accounting standards stating how particular types of transactions and other events should be reported in financial statements.
Bank Overdrafts
An extension of credit from a lending institution when an account reaches zero, allowing the account holder to continue withdrawing money up to a certain limit.
Indirect Method
A way of reporting cash flows from operating activities by starting with net income and adjusting for non-cash transactions.
Direct Method
A way of presenting a cash flow statement where actual cash flows from operating activities are disclosed directly.
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