Although the FASB is going to converge with IASB on the notion of short-term and long-term (12 months and that’s that) .. and so this murder mystery will go away … i would like to see what anybody knows about this issue right now. The issue is what is current (or long term) depends on whether 12 months or the company’s normal operating cycle is longer. For years, i’ve looked up companies like Boeing and others that likely have a longer operating cycle. Never a mention anywhere in the financials. How would any analyst know this then? Seems odd, any insights anybody?

My colleague asked me the other day another related question. … how do companies who have all kinds of activities (e.g., drug company — lots of R&D and lots of short-production too) determine their normal operating cycle?

It’s murder mystery … at least a mystery.