Ann: CLH ASX Release, page-39

I have always thought that CCP can decide its profit through a number of methods. If the collections percentage isnt as expected then you have to take a write-off. However if you have purchased a lot of PDL's I would presume you would cherry pick and the overall.percentage collections in the cycle could be slower.
Then you have to do a valuation to determine the carrying value at year end. That is another opportunity to decide a value. So this is one business I don't think any accounting standard ever contemplated a standard that would work.
My valuations have always been to look at the value of the book on which they have a payment plan. That however doesn't cover the loan book.
Cash flow doesn't work as they pay upfront for an amortisation and profit. They can therefore even play thst game in the short-term.
In many ways you have to trust management. There is a lot of that now but it hasn't always been there.
I think its cheap and recently have switched a bit more into here from EQT which I think has slso got a stable calculation tyoe business. This is just cheaper in my opinion. After all.share investing is just a payment to get dividends and asset value.