Grant, the cash receipt figure is adjusted as per revised 2014 accounts - double checked spreadsheet it appears to be correct as per my opening post.
You are correct that disbursements are recorded as a receivable and as a cash receipt when paid. However, the gist of careless posters is that Slater do not generate cash of substance and revenue is a mirage. In time I will account for it all
I have more to say on the WIP, disbursements and revenue myth latched onto by the unclean. It will be fun.
Meanwhile just a thought bubble. Would Westpac and NatWest happily hand over the readies without thoroughly examining the historical flow of cash compared to profits? Not a reason to believe in itself but a damned good litmus test.
SGH Price at posting:
89.5¢ Sentiment: Buy Disclosure: Held
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