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Enterprising Investor

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Re: couldbebetter post# 186

Wednesday, 11/08/2017 12:04:07 PM

Wednesday, November 08, 2017 12:04:07 PM

Post# of 1492
Unearned revenue is a liability.

Under the current standard, payment is received and revenue is amortized over the life of the contract.

Going forward, the revenue will be booked in the period that the payment is received.

The result will be restated financial statements that will convert $37,436,192 from a liability into revenue.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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