Remember all the VGI and poor old Joe carry on about payables to suppliers and employees not making sense and not lining up with receipts bla bla and therefore must be dudded etc and therefore the CTD accounts are bogus etc, etc.
Well it took all of 3 minutes for this average (ok if I am honest maybe a little below average) Year 11 Accounting graduate to put this simple table together demonstrating that comparing 2019 to 2018 Operating Cash receipts to cash payments for suppliers and employees is remarkedly consistent on a year to year basis.
2019 2018 1 Receipts from clients 455131 337468 2 Payments to suppliers/employees 292252 217621 3 Difference receipts/payments 162879 119847 4 Difference as a % of receipts 36% 36% 5 % Payments/Receipts 64% 64%
You can bet VGI overcomplicated their analysis and spent hundreds and hunderds of hours on it. My old Year 11 teacher always said - keep it simple. VGI fell for the classic trap of of comparing half to half. In my earlier post I clearly demonstrated with reasons why this is not effective for a business like CTD unless you fully understand the business.
VGI/poor oldJoe will not comment on all this because they know i am right.
Its hard to believe that all the Financial Journalists working for the AFR writing about this subject have fell for all the crap being spun!!! Maybe they just do not have an investigative nature and an understanding of the very, very basics of accounting!! So sad!!
And talk about the now infamous 'sniff' can anyone else smell a rat!!
Still rating that article about Ewen Crouch and due diligence as a disgrace to journalism!!
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