Abstract: . . .  development costs are capitalized and subsequently reported at the lower of unamortized cost or estimated net realizable value. Capitalized costs are amortized based on current and future revenue for each product with annual minimum amortization equal to the straight-line amortization over the remaining estimated Notes to Consolidated Financial Statements Page 30 28 economic life of the product, which ranges from three to eight years. . . .
. . .  that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications Certain reclassifications have been made to the prior years’ financial statements in order for them to conform to the current presentation. . . .
. . .  of SFAS No. 133 will not have a material impact on its financial posi- tion, results of operations or cash flows. The Company will be required to implement SFAS No. 133 for the year ending June 30, 2001. In March 2000 , the FASB issued Interpretation No. 44, “Accounting for Certain Transactions In . . .
. . .  Statements. Page 29 27 Note 1. Summary of Significant Accounting Policies Business Activities The Company is an international information systems and high technology services corporation. It is a leader in computer-based information technology systems, custom software, integration and operations, communi- cation and network services, imaging and document management, simulation, and proprietary database and software products. The Company . . .
. . .  27 Note 1. Summary of Significant Accounting Policies Business Activities The Company is an international information systems and high technology services corporation. It is a leader in computer-based information technology systems, custom software, integration and operations, communi- cation and network services, imaging and document management, simulation, and proprietary database and software products. The Company provides . . .
. . .  are making it happen by leveraging our legacy capabilities and extending our presence in emerging areas of the Internet age. Through these efforts, we intend to fulfill our customers’ unique needs, in a process that begins with a vision , results in a solution—and happens at CACI. Dr. J.P. (Jack) London Chairman of the Board, President, And Chief Executive Officer, CACI International Inc 3 These and other accomplishments will support . . .
. . .  value. The lines of credit have floating interest rates that vary with current indices and, as such, the recorded value approximates fair value. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities . . .
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