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Royale Energy Inc. Message Board

  • fastball.98mph fastball.98mph Oct 7, 2013 7:15 AM Flag

    Statement of cash flow

    I noticed they have the entire $3.4m entered as cash received. They can book this on both income and balance as an accrual and receivable, but the cash flow statement zeros out accrual's. Is this an error, or am I missing something?...SOX auditor?

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    • You are talking about a company whose accounting procedures are more aggressive than 98% if other companies. Who knows how they booked it.

      Assuming they sold part of Alaska for $3.4 million. I would think they would book it as revenue and operating income to give the false impression they actually generated revenue and profit. I'm not sure why an accural would be necessary if the entire amount is earned. If they have an obligation, then the debit would be to cash, with a credit to a liability or contra-asset. Like unearned revenue.

      I have no doubt they will include the whole amount as revenue and operating income. #$%$ knows.

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