Good post, but I would say what you have reasoned would imply that management would know the cash receipts by end of year, not the revenue. The reason is that we could reasonably expect the accounts receivable (which as you mentioned make up part of revenue) would be bigger at year end as more customers complete the 'pipeline' - but by how much will it grow? Management may be able to estimate how much accounts receivable will grow by, which leads them to state that they will achieve target or not, but they don't 'know' for sure yet. However it gives confidence when they restate they are on target, and the closer we get, the more accurate their estimates should become.
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