Accounting Standards usually require the spreading of an upfront payment over the term of the benefit. So If RFG negotiated an upfront amount of say $5m, whilst the cash would be received in January, the profit an loss account would be progressively credited with the $5m over a number of years ( assuming that is the term of the agreement).
This may be the case with RFG, and they have not sat down with the auditors to agree the term of the benefit - hence the weak wording. Maybe they thought they could book the entire amount in Dec in the last profit forecast and now realise their error.
I just do not think they are on top of their numbers, which is disappointing
Any thoughts?
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Last
7.2¢ |
Change
0.008(12.5%) |
Mkt cap ! $176.8M | |||
| Open | High | Low | Value | Volume |
| 7.0¢ | 7.5¢ | 7.0¢ | $3.249M | 46.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 396987 | 7.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.5¢ | 3615392 | 10 |
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| Last trade - 16.10pm 13/06/2024 (20 minute delay) ? |
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Last
7.4¢ |
Change
0.008 ( 15.6 %) |
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| Open | High | Low | Volume | ||
| 6.7¢ | 7.4¢ | 6.7¢ | 11773943 | ||
| Last updated 15.59pm 13/06/2024 ? | |||||
| RFG (ASX) Chart |