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Kurwitu HY16
Gatheuzi
#21 Posted : Thursday, September 22, 2016 7:35:58 AM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
Angelica _ann wrote:
Gatheuzi wrote:
Since when did Foreign Exchange Gain get treated as revenued'oh! d'oh! or do we have a different accounting standard for sharia compliance?

What if they trade in FX?

If this is their core business so be it. I would have expected this to be treated as "other income". Infact even interest income should also not categorized as revenue unless Kirwitu is a bank. So my take is that the company still has zero revenue.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
Gatheuzi
#22 Posted : Thursday, September 22, 2016 7:42:44 AM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
stock.enigma wrote:
They pay Ksh 12m to staff who earn the company Ksh 0.5m in six months

They have restated the numbers. The above was for last year. This year they paid 6M to staff who brought in zero in revenues. Only 14k came in as interest which we are being told that it is "revenue".
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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