Think about this for a minute: From DD's conver
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Posted On: 03/15/2020 11:40:09 PM
Think about this for a minute:
From DD's conversation with SB he was told:
Accts Rec: Over $4 million owed, the rest is inventory. Has changed terms for faster payment.
If the rest is inventory then it should not have been book as sales, correct?
Why is the inventory not shown on the Balance Sheet?
So is the CEO admitting here that he inflated revenue by $4.6 million?
And the $4 million that is owed in A/R is still 236 days outstanding. Personally I think most of that $4 million is either on consignment or just paper invoices supported by the terms of sales contracts for customers that don't exist.
If you don't think this is right, I'd love to hear everyone's explanation.
From DD's conversation with SB he was told:
Accts Rec: Over $4 million owed, the rest is inventory. Has changed terms for faster payment.
If the rest is inventory then it should not have been book as sales, correct?
Why is the inventory not shown on the Balance Sheet?
So is the CEO admitting here that he inflated revenue by $4.6 million?
And the $4 million that is owed in A/R is still 236 days outstanding. Personally I think most of that $4 million is either on consignment or just paper invoices supported by the terms of sales contracts for customers that don't exist.
If you don't think this is right, I'd love to hear everyone's explanation.
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