Exactly, and for some reason west believes it appropriate for this year's bad debt to be accrued and spread in prior years...
It doesn't make a different if bad debt is this year or last because it still needs to be accounted for. It may distort the figures but so be it, the company should of had better credit control.
It laughable bad debt is 29% of last year's receivables. It begs the question who they're selling services to. How can schools not pay their bills? Aren't they state funded?
Ann: Update on 2017 Financial Results, page-20
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