Union Acceptance Corp. UACA Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Union Acceptance Corp. UACA

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: kendall harmon who wrote (37)	8/30/2001 12:50:39 PM
From: Carey Thompson	of 39

That was not the area of UACA's accounting where I had the problem. I am concerned with Gain-on-Sale recognition of revenues. With Gain-on-Sale accounting, revenues are booked on the income statement months, sometimes years, before the dollars are collected. Gain-on-Sale accounting does not work during economic downturns and recessions when car buyers are not paying their car notes because their cash is short. In downturns UACA gets a double whammy, 1) current revenues drop and 2) future revenues (that have already been booked) never materialize. BTW, I sold UACA over 1 year ago. If you choose to buy UACA -- first look over your alternatives. Carey Thompson

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next