8 Oct
2024
8 Oct
'24
8:31 a.m.
On 07/10/2024 22:28, Kaj Niemi wrote:
Sort of tangential, on page 9 bad debt and depreciation, both non-cash items originating from the balance sheet and being written off as expenses, are attributed 17 and 29 euro respectively out of 1800 euro paid for membership. From an accurate income statement point of view, it is true and correct. From a cash flow perspective there is nothing there (non-cash items, remember?) and the 46 euros of the membership fee are spent elsewhere really.
Page 11 mentions 375K of bad debts. Can we get an explanation of what that entails? Is this LIRs who have not paid their membership? That would represent quite a number of LIRs. Regards, Hank