I think I need to get off my butt and read this thing properly
I have puzzled quite a bit over the material difference between expenses on income statement and cashflow. Trying to get to the bottom of this....
Note that (unlike every other year) in 2012 expenses on the income statement were higher than on cashflow statement. This goes against what you are saying somewhat, though it's possible that a different accounting method was being used prior to the IPO in 2013.
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 1 Income Statement 2017 2016 2015 2014 2013 2012 2 Revenue 165 151.5 150.9 115.8 105.4 88.4 3 Employee Expense 82.1 77.3 68.9 52.9 49.9 38.2 4 Other Expense 48 48.3 37 28.3 27.1 23.3 5 Employee + Other 130.1 125.6 105.9 81.2 77 61.5 6 Cashflow Statement 7 Customer Receipts 162.2 152.9 134.6 101.7 92.9 59.3 8 Payments to suppliers and employees 142.9 134.1 121.6 91.1 84.2 50.4 9 Difference (income statement - Cashflow) 10 Money in 2.8 -1.4 16.3 14.1 12.5 29.1 11 Money out -12.8 -8.5 -15.7 -9.9 -7.2 11.1 12 Difference as % Income statement 13 Money in 2% -1% 11% 12% 12% 33% 14 Money out -10% -7% -15% -12% -9% 18%
Also note that the AASB15 rules don't apply to any of these figures as these rules have not been implemented yet.
There's also the fact that employee expenses are incurred unrelated to work directly billable to clients. What you're saying is that leads are some special case that drops off the income statement while other employee expenses remain. Not saying this is wrong but it is interesting. It would also need to account for a $13m difference (being costs spent on leads that have not become cases yet). If true this would make lead generation a very significant expense.
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