Hi,Can anyone help me out and explain in simple terms what the...

Hi,
Can anyone help me out and explain in simple terms what the specific accounting implications/breaches ABC encountered with the Childcare Licences on the balance sheet. i.e. what they were trying to achieve and how it was actually in breach of accounting standards I am interested as i, like many other, did a lot of coin on this mob and just want to understand what was going on with thier Statements so it doesnt happen again!!
Cheers