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Analytic Flying @analyticflying on x 1654 followers
Created: 2025-07-27 09:09:01 UTC
Accounting standards! Lease fees are written up as an expense in period they are incurred, whether or not they actually paid then (accrual accounting).
SG were behind on lease payments & lessors wrote-off some of that debt. When that happened, SG had to reverse portion of historic lease expense that was written-off, but instead of revising historic financials they did that in the periods when the debt was written-off rather than when it was incurred. Even though it boosts income, it doesn't generate cash!
XX engagements
Related Topics happened debt accounting