GRR 2.27% 22.5¢ grange resources limited.

Receivable reduction in Q3

  1. 4,160 Posts.
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    Not an accountant, so please forgive my ignorance if I am wrong:

    In Q3 Grange stated the $24.5m decrease of "receivable" is " Due to provisional invoice price adjustments".
    That indicates Grange has always treated "Provisional invoice" as "Receivables".
    However, in Australian's accounting system, provisional invoice is not a real invoice. Therefore, you would not record it in the accounts receivable system.

    Over the years I have focused in productions/costs/shipment, this is the first time I saw a $24.5m decrease in "Receivables", hence has my attention.

    Hope someone with accounting experience (sorry not for simply GRR enthusiasm!) to comment.
 
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