SpyAli

This is really relating to the amount of accruals within the financials as measured by Balance Sheet and CF accruals. It's not relating to the life-cycle.

These aggressive/conservative decisions that managers make will either shot more/less revenues not and more/less revenues in the future. In the long term you should see earnings going back to normal levels (defining normal as whichever state the actual company is in its growth stage)

I hope I'm making some sense

- Guille