Berkshire Hathaway 1998 Annual Report Download - page 66

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65
BERKSHIRE HATHAWAY INC.
COMBINED FINANCIAL STATEMENTS
BUSINESS GROUPS
Berkshire's consolidated data is rearranged in the presentations on the
following six pages into four categories, corresponding to the way Mr.
Buffett and Mr. Munger think about Berkshire's businesses. The
presentations may be helpful to readers in making estimates of Berkshire's
intrinsic value.
The presentations in this section do not conform in all respects to generally
accepted accounting principles. Principal departures from GAAP relate to
accounting treatment for assets acquired in business acquisitions, although
students and practitioners of accounting will recognize others.
Opinions of Berkshire's independent auditors were not solicited for this
data. The four-category presentations in no way fell within their
purview.