UACA appears to have changed its accounting according to its latest 10-Q
"During June 2000, the Company moved to a risk based pricing model and is continually assessing and refining its pricing strategies. The risk based pricing model rewards those customers with good credit quality with lower rates and also prices higher risk accounts at higher rates. The average credit score of newly acquired receivables was 685 and 664 for the quarters ended March 31, 2001 and 2000, respectively. The Company has been utilizing its risk based pricing strategy to enable it to curtail acquisition volume while at the same time pricing receivables acquired with a view of achieving its targeted return on managed assets. Because the Company limits the receivables it acquires if the receivables cannot be priced at a level required to achieve the Company's targeted return on managed assets, depending on market and competitive factors, the Company's acquisitions may fluctuate from period to period. Moreover, the Company plans to attain receivable acquisition growth, gradually increasing from current acquisition levels, based on the capital resources it has available over time and its targeted return on managed assets. The Company is currently seeking to price its receivable acquisitions such that they will ultimately support a return on managed assets of 1.5% after the next several years. In particular the Company believes that the pricing of receivables acquired during the nine months ended March 31, 2001, if viewed as a discrete portfolio, should ultimately support a return on managed assets of at least 1.50%. A number of factors, including loss and credit performance estimates inherent in the Company's pricing strategies, and other factors impacting the Company's results of operations, will affect whether it can achieve that targeted performance level and the number of years it may take it to do so. "
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