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20:48
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Originally posted by madau:
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Manabouttown, I work in Corporate Finance so pulling apart accounts is my day job. Let's get some facts out there rather than your continued distortion of the truth and unfounded allegations such as in your previous words: carbon credits being given away, directors doing a "dodgy" deal on the station plus numerous others. Now you are alleging the directors are again deficient their duties with your comment "Missing cattle and no questions..." Nowhere does it say they lost any cattle. The exact wording in the accounts: " As at the 31 December 2021 management was not capable of performing a stocktake of the cattle given the size and nature of the station". " The directors of the company have determined that a provision for impairment should be recognised as they believe that the livestock should be only recorded in the accounts based on the net realisable value of the livestock that are accounted for." Therefore prudent and conservative accounting. As they trap and sell cattle (which they also state is an ongoing process) there will be adjustments made in the accounts for the numbers. It's that simple. We see it all the time when an accurate assessment of an asset as part of an annual stocktake (in this case cows wandering around half a million acres) cannot be made at that point in time. And your exaggeration of $2M is yet more misinformation given they received $158k for 170 sold as stated in the same paragraph. Oh and by the way, the carbon credit scheme sees an increase in the rate paid when stations de-stock (i.e. have less co2 emitting sources) so they actually should get an increase in revenue here. But let's not get a little thing like facts and accounting standards get in the way of your venom for this company shall we.
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Your interpretation of deals is what?
and balanced of course.
