Ann: CORONEO Australia New Zealand Distribution Partnership-AHZ.AX, page-60

Wow, some odd ball takes on a simple accounting concept going on here.

In "cash accounting", revenue is recognized when cash is recieved. Great if you're a coffee shop or a cafe, but what if you have customers that you extend payment terms or an account?.... Enter accrual accounting.

In accrual accounting, revenue is recognised when a sale is made (regardless of payment terms). If no payment is recieved at the time of sale, the amount is recorded as "Trade debtors" on the balance sheet. This amount will be collected within the timeframe of the payment terms, and which time "cash in" will increase on the balance sheet, and trade debtors will be reduced.

In Admedus' case, we've deduced from available data that most of their CC customers are on 30 days end of month payment terms (payment falls due at the end of the following month - max of 60 days).

Therefore "sales" and cash received will never reconcile for the same period.
We will get quarterly cash flow statements (that we're saying should roughly equal sales from a 3 month block from 2 months ago), and twice yearly we'll get full profit and loss statements with actual "sales" made in the period so we don't have to try to extrapolate using the cash flow statemen and ad hoc sales / procedures reporting that we're drip fed intermittently.

I'd love to see this 4C out early, and not the usual leave it to the 11th hour attitude. It would be a good look for Wayne and his new stated objectives of better shareholder communication and transparency. Small gesture, but it would show they're listening and that their addressing perceptions.