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2.8¢ dubber corporation limited

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demolay

629 Posts.

96

07/10/22

21:15

Post #: 64093108
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Originally posted by cv02 ↑

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."

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Spot on its worth while noting the $10m in revenue reduction which relates to IFRS15 would be timing related and should be recognised in a subsequent financial period i.e. revenue in FY23 onwards will be higher

hence the boards statement that the changes have no material impact on the financial position of the business

DUB Price at posting: 55.5¢ Sentiment: Buy Disclosure: Held
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Last 2.8¢		Change 0.009(47.4%)		Mkt cap ! $38.84M

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