FormerXBC Inc XEBEQ

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Xebec Adsorption Inc designs, engineers, and manufactures products that are used for purification, separation, dehydration, and filtration equipment for gases and compressed air. The company operates in three reportable segments: Systems, Corporate and other, and Support. Its product lines are natural gas dryers for natural gas refueling stations, compressed gas filtration, biogas purification, associated gas, engineering services, and air dryers. The company's geographical segments are United States, Canada, China, Other, Korea, Italy, and France.

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FormerXBC Inc > Is this a change in Accounting

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Comment by Ciaoon Nov 11, 2021 7:57am

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Post# 34113857

RE:Is this a change in Accounting

savyinvestor333 wrote: " As the company transitions to standardized products such as Biostream, revenues will be recognized on delivery."

So how much did this effect revenues in the quarter and why the change?

I'm guessing that this is the correct way to recognize revenues and units are now stardard whereas before it was project. I believe the %age of completion method was what got them in trouble before. So they fixed this on issue with standardized units and accounting principles.

https://www.investopedia.com/terms/r/revenuerecognition.asp

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