Not a good look I have to admit. The downgrade of revenues certainly explains why they took their time as the board was probably fighting back with the auditors and lost. AASB15 is only "recent" (FY19) so depending on the accountant/auditor they may not pick up the changes as I would guess they have just been doing what they had always been doing. Then a new auditor/partner comes along and realises - "hold up there's a 5 step model to AASB15".
DUB probably (this is a guess only) has a contract at a price in place...but cannot recognise the revenue as you they are only allowed to... "Allocate the transaction price to the performance obligations THEN Recognise revenue when (or as) the performance obligations are satisfied."
Not a good look I have to admit. The downgrade of revenues...
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Last
2.9¢ |
Change
-0.001(3.33%) |
Mkt cap ! $27.78M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1137385 | 2.9¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 3.0¢ | 922440 | 6 |
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| Last trade - 12.45pm 10/10/2024 (20 minute delay) ? |
| DUB (ASX) Chart |