PLL 0.00% 20.5¢ piedmont lithium inc.

Ann: Quarterly Report (Form 10-Q), page-54

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  1. 3,027 Posts.
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    I don't bother trying to follow what's happening in the SYA chat channels. I leave that to others with more patience and ability to read BS.

    When you have full group consolidation, every part of that group needs to get their financial statements prepared, there will be some intergroup consolidation adjustments that mean the group result is not simply the sum of all the individual entities. For example, if entity A has cash and lends to entity B there is within group borrowing but possibly no external borrowing. When I used to work at the NZ branch of Westpac, we had a very tight timeline on the NZ results so that they could be fed into the Australian group result. The Australian accountants then did their stuff with the NZ subsidiary and all other subsidiaries to get the overall group result which was then reported to the ASX/NZX.

    If you are incorporating an external, non-controlled third party into your accounts you may not have known or published results until after they are published which is unlikely to meet your reporting timeline (unconsolidated affiliate). The simple answer is to incorporate your share of the minority investments results on a 3-mth lag basis. Basically a pragmatic loss of timeliness tradeoff is accepted for increased accuracy in the result reported (the alternative would be guessing the affiliate's result and in the next period making another guess and including a wash-up variation on the error in the earlier guess). For example PLL learn what SYA's Dec Quarter result is perhaps around mid-late Jan or perhaps even into February. They then put that result into their March quarterly result. Sorry I haven't looked to see if this is the approach with both SYA and SYQ or just one or the other.

    My expectation is that any transaction that can be sourced from PLL's financial statements will be sourced from them. The key problems relate to not knowing the financial performance of SYA & Atlantic when each quarter's PLL results are prepared.

    I hope this helps in some way.
 
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