RE:RE:RE:RE:RE:RE:RE:RE:RE:CC2020oilgamble wrote: Sorry to rain on the parade guys....but cash based accounting is a whole different ball game than the rationale and math you guys are playing with.
My business has been cash based for 17 years. A/R do not apply in the normal sense of the word....
if the cash isnt there, neither is the revenue,neither is the A/R as two sided accounting does not allow for it.
No cash...no revenue, no A/R
Things actually began to look A LOT better because of this revelation. It explains why the latest qtr revenue missed your expectations,
I for one am overjoyed. I added 2/3 to my position on the low, because I never thought we would see these prices again.
Cheers!!
brad129 wrote: If you look at the financials there is a column showing "accounts Receivable" that scenario would fall under that and included in the quarter work was performed.
it'S the same if they bought test kits in that quarter that weren't sold, they go into "inventory" and doesn't affect the quarter financials as well.
quote=Skrit37]correction
"so for example if SZ tested for a nursing home on august 1st.....this revenue will not be realized if invoiced until/within 45 days later which falls within Q 4" i meant to say sept 1st..not august 1st
Skrit37 wrote: Ill try and explain myself in an other way...sometimes i dont explain whats in my head to computer the same way haha
So Q1(jan1-march31),Q2(april1-june30),Q3(july1-sept30) have a 45 day grace period following the final day of the quarter to report finiancials to shareholders
any income "recieved" within each quarter has to be reported..
any income that has not been recieved within this quarter does not have to be reported until the following quarter
so for example if SZ tested for a nursing home on august 1st.....this revenue will not be realized if invoiced until/within 45 days later which falls within Q 4
therefore SZ will not have included this revenue in Q3 even though the revenue was recieved within the 45 days
IMO this is how understand it...
revenue recieved within the quarter is what we are shown...not revenue recieved after the Q's ending date..... even though the testing was done within the quarter
i hope this helps a bit more......im no accountant obviously....so if im wrong im all ears and will learn something new haha
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I see...well i think thats along the lines of what im getting at, if i understand you correctly......
any time now we shall see ..hopefully mr tripp gives us first 6 weeks q4 haha