Hmm good question and smart way to try validate the accounting.
Positive inference:
Gst is input less output, so will be substantially less than straight 10% of sales.
Negative:
Accrual basis uses invoiced amounts not collections in a period. But since BIG has such a large collection, it stands to reason that its been invoiced in the current or prior period. So we should see large GST paid now or in prior period when invoices were raised.
Also, since we are at about ~40% margins there wouldn’t be that much expenses (prepaid or otherwise) to substantially reduce GST liability.
Question is which scenario is closer to reported GST?
- Forums
- ASX - By Stock
- BIG
- BIG and the ATO
BIG and the ATO, page-23
-
- There are more pages in this discussion • 11 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BIG (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online