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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (62313)	8/3/2019 10:08:42 AM
From: Spekulatius	Respond to of 78816

Re FLR - they use percentage of completion accounting (POC). This means that they can unbilled work in their current assets. When you look at FLR last quarterly numbers, their cash and debt actually didn’t change, but their current assets (the unbilled part) grow written done, because FLR projects weren’t as completed as the accounting indicates. it’s pretty likely that some managers got bonuses when they shouldn’t. last year, FLR out in their annual report that they are ready for the contract of the now more demanding customers. It turned out that they pretended for a while and now the jig is up. The company is uninvestible imo, but has been so for a while quite frankly.