Another Trick Bashers use is....to talk about Accounting or Geology, believing that some people may feel intimidated by specialty subjects and hence gain an upper hand in their attempts to fudge and smudge.
Now let’s see how knowledgeable a basher can be:
_______________________________________________________________________
Enma’s Post #23703216
General accounting rule
NAG applies permit, the fee will be listed as Account payable since they still haven’t received the permit. Q2 ended at June 30, Nobody believes the NAG paid permit fees in full before June 30. KT, if you are one of the IRs, do you think we are all idiots to believe you?
In my judgement, I think NAG even doesn’t want to list the fee as account payable, since it has not happened yet.
._______________________________________________________________________
Accounts Payable are part of a company’s liabilities, i.e. owing something to another party such as a contractor who has rendered a service, or a vendor having delivered goods to NAG but not paid for yet and has to be paid in the future.
On the other hand, (if) NAG has paid a good sum of money to the Sask Ministry of Energy & Resources as a condition for coal permit applications, that will be akin to an investment in an aggregate of prospectively valuable mineral properties and becomes the company asset in case the permits are granted. If not those moneys will be returned to NAG as cash. Whatever case that may be, they form part of the company assets, i.e. something the company owns and belong to the Asset section in the financial statement.
So Enma, accounts payable or the liability section were the wrong places you had looked into, and of course you will never find anything in regard to permit application payments.
KT