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clock Created with Sketch. 02/06/19
18:01
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Originally posted by vestro:
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Seems to me that given the accounting treatment now calls for revenue to be recognised only on delivery to customer (as opposed to previously being able to just book it on a purchase order), that almost everything at the moment being produced since last month will most likely fall into next quarter and financial year’s result.
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Did they recognize sales on purchase order before? I must have missed that somehow. but the FY18 Annual Report is pretty clear as follows?Sale of goods: Revenue is recognised on transfer of goods to the customer as this is deemed to be the point in time when risks and rewards are transferred and there is no longer any ownership or effective control over the goods.
(20min delay)