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Message: RE: Advance payments on purchase orders

RE: Advance payments on purchase orders

posted on Feb 03, 2005 11:23AM
When reading the Dec 22 guidance the word obfuscate comes to mind.(def: to make dark or obscure). I`m not one to pick nits and also not one to jump to conclusions.

So, completely out of character, I picked up the phone and called RP last week and took him to task over his ``guidance``. I quoted FASB rules to him (federal accounting standards board) which clearly state that advanced payments, deposits etc. cannot be taken as revenue, and why would he deliberately state the guidance in such a fashion..he quickly reverted to RPspeak and said the guidance was the guidance. the conversation did not leave me with with a good feeling for a Q over Q raise..I hope I`m dead wrong. OFarmer

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