Grandiddlylonglegs, have an SEC accounting question for you

[NavigatorII]

@grandhavendiddy

Regarding rebate accounting, do the publicly traded firms have to adhere to GAAP on a quarterly basis, or just at year end? My question is regarding BUD sale rebates. I would think that BUD would have to book a liability for 6-30-23 for rebated product sold in this quarter, with a matching expense or contra sale offset. What say ye former general partner of a Big 4 Firm? I'm really curious if certain industries report non GAAP intra year?

 

[grandhavendiddy]

lol @ "long legs"

I was a former partner but on the Consulting/Strategy side. I am not a CPA by training (but have a lot of accounting background).

For the above, yes, they need to adhere to GAAP for every transaction and report out every quarter.
For BUD, do you mean Budweiser?

Yes, they will need to revise guidance and have expenses returned to sales, based on their contracts to distributors.

 

[NavigatorII]

lol @ "long legs"

I was a former partner but on the Consulting/Strategy side. I am not a CPA by training (but have a lot of accounting background).

For the above, yes, they need to adhere to GAAP for every transaction and report out every quarter.
For BUD, do you mean Budweiser?

Yes, they will need to revise guidance and have expenses returned to sales, based on their contracts to distributors.

Yes, exactly what I thought. Thank you! Put options are hot on the griddle! (again).

 

[nail1988]

@grandhavendiddy

Regarding rebate accounting, do the publicly traded firms have to adhere to GAAP on a quarterly basis, or just at year end? My question is regarding BUD sale rebates. I would think that BUD would have to book a liability for 6-30-23 for rebated product sold in this quarter, with a matching expense or contra sale offset. What say ye former general partner of a Big 4 Firm? I'm really curious if certain industries report non GAAP intra year?

You didn't ask Slippin Kal? 😂😂

 

[NavigatorII]

You didn't ask Slippin Kal? 😂😂

Oh hell naw! And you noticed, I didn't ask faux BScuck either. 😂

 

[BamaFan1137]

@grandhavendiddy

Regarding rebate accounting, do the publicly traded firms have to adhere to GAAP on a quarterly basis, or just at year end? My question is regarding BUD sale rebates. I would think that BUD would have to book a liability for 6-30-23 for rebated product sold in this quarter, with a matching expense or contra sale offset. What say ye former general partner of a Big 4 Firm? I'm really curious if certain industries report non GAAP intra year?

I find your question to be shallow and pedantic.