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Exactly Tarvold - the exact comment is "While the balance sheet...

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    Exactly Tarvold - the exact comment is "While the balance sheet impact is relatively insignificant, that outcome may bemore significant to the profit reported for the period."
    So Balance Sheet impacted in a minor fashion - but auditors might be contending that the only significant asset we have viz "Financial assets at fair value through profit or loss" is overstated and they want to create a corresponding liability to reflect revenue/profits in advance

    Journal entry:
    Debit "extraordinary expense" and credit Revenue in advance.

    Impact would be the asset value is preserved at the current value but this years profit is hit to leg by the adjustment.
    Perplexing and inexcusable given this has been debated from the 1H results.
    All parties including ASIC should hang their collective heads in shame.

 
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