By Tom Winnifrith | Friday 21 May 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In an article the other day, I posed a few questions about how the fraud Zoetic International (ZOE) should recognise revenue in respect of its “orders” of $1 million which are almost certainly not repeatable. A kind reader has forwarded me the helpful PWC publication “IFRS 15 solutions for the retail and consumer industry”, its guide to IFRS 15. The new revenue recognition standard published in June 2018. It is most illuminating.
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