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54.5¢ slater & gordon limited

AG & Co accounting practices were analogous to 'count all the...

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jimk3758

23,273 Posts.

83

26/09/17

07:40

Post #: 27452235
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Originally posted by keith200 ↑

When dealing with uncertain assets such as case wins you should apply conservative accounting standards to your figures.

Aggressive is one way to describe WTG's standards. Another way is literal fraud. Going back to Dr's ship example, WTG essentially booked all of the ship's profits up front and deferred all the expenses until later, and assumed that they will sell their ship for a hefty profit - despite never having built a ship before or sold any in the market.

No idea about SGH's accounting standards

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AG & Co accounting practices were analogous to 'count all the chickens before they hatch' method. The unforgivable thing is they never said anything when they failed to hatch. Is that an oversight or was it fraud?

Last edited by jimk3758: 26/09/17

SGH Price at posting: 7.5¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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