Hi jfc,
It happens - I'm not. The fact that ASIC may have some difficulties in working out how to calculate revenue recognition should not be considered a let-off for any company, let alone for NTG.
Revenue recognition is a difficult proposition for many companies to encounter, particularly those in the:
1)
telco sector (of which, your great mate, UEC springs eternally to mind, having regard to the past experiences, along with the likes of NTG, CDR, and any company involved in the supply of handsets on plan);
2)
the financial services industry (where companies like Challenger come quickly to mind);
3)
the insurance and re-insurance industries (where any number of companies come to mind);
4)
in the development and construction industry (where % of completion is the most often used and recognised method of revenue measurement, etc); and
5)
in the broadcast industry (where the likes of VRL quickly come to mind with its film financing unit which will not start revenue recognition until 2006).
NTG
national telecoms group limited
