Ann: 2017 Half Year Financial Report, page-104

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Thesi

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30/08/17

19:20

Post #: 26876061
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Originally posted by saltpeppersquid ↑

No .. you can not declare it as revenue just because you received the cash, it remains as "Revenue received in Advance" which is a liability. If you guys are right, GXY have called it a "Prepayment".

Not trying to get into a little argument with you all, but you should at least have some accounting/financial knowledge if you're going to analyse the company's financial reports and make investment decisions on them.

The example you have given (when you declare the cash you received as your assessable income in the same period you received it), is called cash accounting which is acceptable if you're a small business. Just so you know, GXY is not a small business, and therefore accounts on an accruals basis.

But come on @Cadel, its clear you don't get it, but you don't have to get worked up. Hope your 10 year old doesn't grow up to be as ignorant as you

If you're talking about the cash flow statement though, it doesn't focus on revenue and expenses, and therefore timing is not important. It's just a statement of your cash inflows and outflows for the period. This is where all this confusion came from.

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Is Galaxy making money or not?

Arguing over if something should go in the liability or revenue column is a bit backwards...

No one really cares...

It's about the bottom line.

If you don't like the bottom line move on and find something more attractive to you that is making more money.

Are there other lithium companies making more money on the ASX right right now?

GXY Price at posting: $1.76 Sentiment: Buy Disclosure: Held
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Ann: 2017 Half Year Financial Report, page-104

Top Stories

Rio Tinto confirms it's lobbed a takeover offer at Arcadium Lithium

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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