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Acxiom didn't say how much of the restatement was due to improperly accrued revenue and how much to misclassification of deferred costs.
Having accrued revenues of PS2m in its first year, Goodfellows is now poised to grow the workforce to meet the increasing demands from clients, and brand awareness is also set to soar through a planned TV project.
In theory, an entity's operating cash flows should correspond to its accrued revenues and expenses within one operating cycle before or after accrual.
Summary: MAKKAH: Hotels and furnished apartments in Aziziyah district in Makkah have accrued revenues of more than SR250 million during Ramadan due to the large number of domestic pilgrims keen to spend the holy month at the Grand Mosque.
TCL Financial, which also provides business payroll services, accrued revenues of $250,000 in 2006.