Featured Post

Ancient Teachings

Genesis 1, 28 says that we should "go forth and multiply, and replenish the earth." Not all Bibles have this "replenish the e...

Sunday, July 17, 2016

Tread Carefully. David Lipschitz letter to the Cape Times published Thu 9 Jun 2016

​Your Business Report article​ on June 7, about accounting for income derived from one's clients
​for cloud ​computing ​services, refers.

Whilst I don't want to point a finger at any particular cloud provider​ as I do not have knowledge of these companies' accounting practices​, I do wish to remind people that if one takes the entire contract's income and profit up front, then one is practicing "m​ark-to-market" accounting, which is what crashed Enron.

No comments:

Post a Comment