As a public company they are fully audited. The new Accounting Standard doesn’t allow them to bring unrealised revenue to account without 100% surety of recoverability.
If they bring dubious income to account it would be matched with a provision for doubtful debts, so there is no point doing it.
The reality is they wouldn’t have brought the income to account yet, otherwise the tax payable would be disproportionate to profits, hence any recovery now will go to the bottom line.
As a public company they are fully audited. The new Accounting...
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