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Poorly worded on my part. Take out and 'added to customer's...

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Tattiebinger

286 Posts.

23

19/09/17

08:13

Post #: 27304878
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Originally posted by Tattiebinger ↑

Hi Madtrader,
The change in revenue recognition relates primarily to late fees for loans in arrears (I have confirmed this with Management but will double check). If a customer misses a payment, then a late fee (e.g. $25) is charged. Previously this fee was immediately recognised as revenue in the P&L and added to the customer's overall outstanding balance. It will now be recognised as revenue over the life of the loan as the balance is repaid i.e. more in line with actual cash receipts. I'll try find out more info on the provisioning effect. cheers T

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Poorly worded on my part. Take out and 'added to customer's overall outstanding balance'.

MNY Price at posting: $1.45 Sentiment: None Disclosure: Held
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