As I have said before it's possible that consignme
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Posted On: 02/05/2020 10:25:34 AM
As I have said before it's possible that consignment is going on but the problem with that scenario is revenue is not allowed to be booked until the units are actually sold by the dealerships. Remember, under consignment accounting, On4 still actually owns the units.
ONCI is booking everything as revenue up front before any of the units are being sold by the dealership.
There are no inventory entries on On4's financials. You would have to have some sort of consignment inventory account to indicate the goods have been consigned to an agent (the dealerships).
ONCI is booking everything as revenue up front before any of the units are being sold by the dealership.
There are no inventory entries on On4's financials. You would have to have some sort of consignment inventory account to indicate the goods have been consigned to an agent (the dealerships).
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