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Technology Stocks : Information Architects (IARC): E-Commerce & EIP
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To: JDN who wrote (6169)5/10/1998 11:48:00 AM
From: sibe  Read Replies (2) of 10786
 
First off, there is NO revenue recognition method allowable for public
companies that allows recognition of any upfront deposits as revenue.
That would be the cash receipts method only acceptable for private NON
CORPORATE taxpayers not any corporations or certainly PUBLIC
corporations. The must use the ACCRUAL method which is broken down
further to COMPLETED CONTRACT and PERCENTAGE OF COMPLETION methods.
--JDN

From Alydaar 10-K, Alydaar post #5601:

techstocks.com

"The standard contract employed by the Company generally requires
payment
of an initial percentage of the contract price after receipt and count
of the client's code, a further percentage upon delivery of the code
back to the client and a remaining small percentage at the end of the
testing period."

To JDN,
Do you see any problem with how Alydaar is doing its accounting? I'm not suggesting anything improper, but perhaps misleading when looking at total revenues, which may include billing for work not yet done.
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