Re: Thanks to the kind person at RBC.
in response to
by
posted on
Jul 26, 2012 12:39PM
Sorry Truck but must disagree with your comment: 'Speculatin' that we will hear about that on Nov. 28 when year end whoopla is out. Would make sense to change accounting method on the year end'.
From an accounting perspective this is a moving forward application of an accounting policy to record revenue as revenue. No restatements of prior years or no fancy calculations needed. It makes sense and, I think to meet accounting standards, it must start as soon as the required performance criteria are achieved.
So I hope this is not something you picked up from Gary cause I think that would be very disappointing to hear it is going to take another 5 months to achieve the base standard for revenue recognition. I actually think they will announce this milestone after the July month end close, so early August. The consecutive monhts of May, June and July were post issue production months, so this in itself calls for an update one way of another.
CS