Ann: Quarterly Activities Report and Appendix 4C, page-7

Thanks, dc3 - that's some bedtime reading!

So I have looked through AASB15 and found this:

Page 12 (of 66!)

Satisfaction of performance obligations

31 An entity shall recognise revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (ie an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset.

I imagine Bod invoiced on delivery for the $1.257m reported (they are clear that the approx $1m binding purchase orders from H&H are not a part of this).

Furthermore, about these additional purchase orders, which they state will be delivered this quarter - that seems to be actual stock which will have an invoice raised upon actual delivery, with the cash coming in according to the payment terms:
'In addition, Bod has received binding purchase orders from H&H Group of approximately $1m, which will be delivered and invoiced as sales during the June quarter.'

So that's not included in their sales figures for the last quarter ... specifically which sales figures are in question here? They are permitted to let us know about purchase orders they have received. I'd put money on them announcing to the market sales according to the correct rules. I suppose the question is whether we value the reputation of Bod reporting H&H orders less than posters on here with throwaway comments! Am I missing something?

Rob
DYOR - I did mine