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DewDiligence

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DewDiligence

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Re: None

Wednesday, 02/11/2009 7:36:43 PM

Wednesday, February 11, 2009 7:36:43 PM

Post# of 252484
ZGEN accounting quiz (medium difficulty): Pursuant to the IFN-Lambda collaboration (#msg-34768182), BMY committed to pay ZGEN $105M unconditionally (as well as further milestones that are conditional on achievement of specified goals). Under GAAP, unconditional up-front collaboration fees must be amortized over the expected life of the collaboration rather than being recognized as revenue when received. However, ZGEN nevertheless recognized the first $21M payment from BMY as revenue during 4Q08.

Q: Why was ZGEN able to do this?


“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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