Tim,
You must let go of the spoon, it is not there. They do not account when they close files, this is just when they get paid, it is cash flow only, nothing else. You must walk away from what you know; A Tshirt seller puts in revenue as he sells his Tshirt, these guys order 10,000 Tshirts then work out how many they expect to sell.
Answer me this:
Shine is a new venture its lawyers collectively bill $10,000,000 in its first 6 months, but do not settle any cases. What is revenue ?
A) $0
or
B) $7,900,000 ($10,000,000 less 21% - $2,100,000 in provisions)
I hope the head is OK. NSW govt is going to change CTP compensations today, this is something that will materially effect the company, it is the only thing that will. The Goodwill writedown and what looks like low profitability, growth is of ZERO effect to the actual profitability of the company but keeps itss value understated (WHY ???????). People will cry and scream but Shine is a diversified business, it may not grow as fast as it has been, but it will continue to grow in profit and WIP; even though everyone will scream the sky is falling in.
A or B ?????????
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Tim, You must let go of the spoon, it is not there. They do not...
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