View Single Post
Old 01-09-2014, 04:33 PM   #8
bill_mchale
Wizard
bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.bill_mchale ought to be getting tired of karma fortunes by now.
 
Posts: 1,451
Karma: 1550000
Join Date: Sep 2008
Location: Maryland, USA
Device: Nook Simple Touch, HPC Evo 4G LTE
Quote:
Originally Posted by nesler View Post
Um, they've already received payment, at the point at which the gift cards were purchased. So shouldn't that income already be accounted for?
Nope. I am pretty sure accounting rules require that gift card income not be counted until the gift cards are used. In part, I think that is due to the fact that you never can be sure of the profit until you know the wholesale cost of the items purchased with the gift card.

--
Bill
bill_mchale is offline   Reply With Quote