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Old 4 Jul 2017, 03:10 (Ref:3748753)   #1
Terry S
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CAMS 2016 Financial Report

Interesting that this report has just been released today, yet all the directors and auditors reports are dated 21 April. Why the delay?

Also do not include the remuneration of the CEO and senior management as found in all public company financial reports.

http://media3.speedcafe.com/wp-conte...16_Digital.pdf
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Old 4 Jul 2017, 03:23 (Ref:3748759)   #2
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Originally Posted by Terry S View Post
Interesting that this report has just been released today, yet all the directors and auditors reports are dated 21 April. Why the delay?

Also do not include the remuneration of the CEO and senior management as found in all public company financial reports.

http://media3.speedcafe.com/wp-conte...16_Digital.pdf
It's an Annual Report with the financial report one part only. This type of delay is not uncommon, it takes a whole to put these reports together but agree that sooner would have been nicer.

Public Companies have different reporting requirements on salaries - that's why they are reported they way they are. No need for CAMS or anyone else to publicly list what individual deals are.
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Old 4 Jul 2017, 03:30 (Ref:3748763)   #3
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as per Note 1 to the report

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FINANCIAL REPORTING FRAMEWORK
The company is not a reporting entity because in the opinion of the
directors there are unlikely to exist users of the financial report who
are unable to command the preparation of reports tailored so as to
satisfy specifically all of their information needs.
Accordingly, this ‘special purpose financial report’ has been
prepared to satisfy the directors’ reporting requirements under the
Corporations Act 2001.
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Old 4 Jul 2017, 04:46 (Ref:3748788)   #4
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Did not find anything in the report about the 400K they lost
on the F4's in the last 12 months.
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Old 4 Jul 2017, 04:51 (Ref:3748789)   #5
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Originally Posted by Scrut View Post
Did not find anything in the report about the 400K they lost
on the F4's in the last 12 months.
report represents only 6 of the last 12 months and there would be no need to mention it anyway

is that a rumour or a fact from know source?
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Old 4 Jul 2017, 11:36 (Ref:3748878)   #6
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Did not find anything in the report about the 400K they lost
on the F4's in the last 12 months.
Only 400k?
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Old 4 Jul 2017, 22:36 (Ref:3748980)   #7
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Originally Posted by peckstar View Post
report represents only 6 of the last 12 months and there would be no need to mention it anyway

is that a rumour or a fact from know source?
As quoted to me from a CAMS Board member.
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Old 4 Jul 2017, 22:44 (Ref:3748982)   #8
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Originally Posted by Scrut View Post
As quoted to me from a CAMS Board member.
cheers
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Old 5 Jul 2017, 03:10 (Ref:3749004)   #9
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Originally Posted by peckstar View Post
report represents only 6 of the last 12 months
It appears you haven't even read the report.

On the first page it says Clearly "ANNUAL REPORT 2016".
What is your definition of annual?

It is clearly mentioned throughout that it is for the YEAR ENDED 31 December 2016.

See top of page 24, pages 26 to 30 and 32 to 43.

Financial matters are obviously not your area of expertise.
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Old 5 Jul 2017, 03:37 (Ref:3749007)   #10
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Quote:
Originally Posted by Terry S View Post
It appears you haven't even read the report.

On the first page it says Clearly "ANNUAL REPORT 2016".
What is your definition of annual?

It is clearly mentioned throughout that it is for the YEAR ENDED 31 December 2016.

See top of page 24, pages 26 to 30 and 32 to 43.

Financial matters are obviously not your area of expertise.
very good.

Now put it back into the context of what i was responding too with scruts question who asked about the last 12 months of which the annual report only represents 6 months off.
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Old 5 Jul 2017, 05:07 (Ref:3749014)   #11
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Quote:
Originally Posted by Scrut View Post
Did not find anything in the report about the 400K they lost
on the F4's in the last 12 months.
Quote:
Originally Posted by peckstar View Post
report represents only 6 of the last 12 months and there would be no need to mention it anyway

is that a rumour or a fact from know source?
Quote:
Originally Posted by Scrut View Post
As quoted to me from a CAMS Board member.
Here's the context, you've got me stumped.

The report covers 12 months, and doesn't mention any F4 losses. Which are real, and as quoted to Scrut by a CAMS Board member....what am I missing?
Did you read the report? What is your definition of annual? Are financial matters your area of expertise?
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Old 5 Jul 2017, 05:21 (Ref:3749015)   #12
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Originally Posted by bludvl_x19 View Post
Here's the context, you've got me stumped.

The report covers 12 months, and doesn't mention any F4 losses. Which are real, and as quoted to Scrut by a CAMS Board member....what am I missing?
Did you read the report? What is your definition of annual? Are financial matters your area of expertise?
your making me laugh. last night you complained about people swinging their bits and now you are doing the same thing for no reason

Scrut on July 3 asked if there was any mention of F4 losses for the last 12 months, I took that as July 2016 to June 2017

I replied that report only covered 6 months of that period ie July 2016 to December 2016

I also pointed out that there is no need to mention those losses in an annual report
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Old 5 Jul 2017, 06:08 (Ref:3749019)   #13
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Originally Posted by peckstar View Post
your making me laugh. last night you complained about people swinging their bits and now you are doing the same thing for no reason

Scrut on July 3 asked if there was any mention of F4 losses for the last 12 months, I took that as July 2016 to June 2017

I replied that report only covered 6 months of that period ie July 2016 to December 2016

I also pointed out that there is no need to mention those losses in an annual report
Ah, so there was a misunderstanding, thanks for clearing that up. An easy mistake to make when the report is for 2016 not any other period. I could see what Scrut wrote, I quoted it.

I'm not doing anything other than trying to make some sense of whats written. It makes communication on a forum where intonation and body language can't be conveyed in any meaningful way. Any thoughts of other agendas simply aren't there.
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Old 5 Jul 2017, 09:09 (Ref:3749043)   #14
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A financial report would _normally_ be for a financial year, but this is CAMS Annual report, for 2016 Calendar year.
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Old 5 Jul 2017, 09:12 (Ref:3749044)   #15
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Originally Posted by peckstar View Post
report represents only 6 of the last 12 months and there would be no need to mention it anyway?
Not every institution reports on a July-June financial year. Independent schools for example commonly report on a January-December financial year, as it fits with the school year. The same would apply to CAMS I would think, as it would fit with the competition year. I would suggest that the report is for a full 12 months, not just 6.
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Old 5 Jul 2017, 09:23 (Ref:3749049)   #16
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Originally Posted by GeoffR View Post
Not every institution reports on a July-June financial year. Independent schools for example commonly report on a January-December financial year, as it fits with the school year. The same would apply to CAMS I would think, as it would fit with the competition year. I would suggest that the report is for a full 12 months, not just 6.

Suggest you read post #12
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Old 5 Jul 2017, 09:23 (Ref:3749050)   #17
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Originally Posted by Mixer View Post
A financial report would _normally_ be for a financial year, but this is CAMS Annual report, for 2016 Calendar year.
as per the constitution

Quote:
Financial Year means the year ending 31 December in each year
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Old 5 Jul 2017, 09:33 (Ref:3749053)   #18
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Originally Posted by ForumNick View Post
Suggest you read post #12
You mean the one that is incorrect??
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Old 5 Jul 2017, 09:43 (Ref:3749055)   #19
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You mean the one that is incorrect??
its totally correct

if you think its incorrect then you are taking it out of context and interpreting as something that was not part of the discussion

The annual report/financial report covers the period 1 Jan to 31 Dec 2016

Scrut asked on 3 July about the last 12 months which i interpreted as 1 July 2016 to 30 June 2017 (maybe i interpreted it wrong but that how i interpreted it. Scrut seemed to have no issues with the response)

Thus only 6 months of the last 12 months 1 July 2016 to 31 Dec 2016 are in the annual report. The other 6 months 1 Jan to 30 June 2017 occur in the current year and are not in the report

Is it spelt out clear enough now for those that are not even part of the conversation but merely seem to be trying to correct something.
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Old 5 Jul 2017, 09:44 (Ref:3749056)   #20
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Originally Posted by Mixer View Post
A financial report would _normally_ be for a financial year, but this is CAMS Annual report, for 2016 Calendar year.
Financial year ends vary all over the place.

Three of the big banks (ANZ, NAB and Westpac) have 30 September year end, department store Myer has 30 July. SUbsidiaries of Japanese companies have 31 March.

Just a couple of examples.
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Old 5 Jul 2017, 10:03 (Ref:3749062)   #21
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Originally Posted by peckstar View Post
its totally correct

if you think its incorrect then you are taking it out of context and interpreting as something that was not part of the discussion

The annual report/financial report covers the period 1 Jan to 31 Dec 2016

Scrut asked on 3 July about the last 12 months which i interpreted as 1 July 2016 to 30 June 2017 (maybe i interpreted it wrong but that how i interpreted it. Scrut seemed to have no issues with the response)

Thus only 6 months of the last 12 months 1 July 2016 to 31 Dec 2016 are in the annual report. The other 6 months 1 Jan to 30 June 2017 occur in the current year and are not in the report

Is it spelt out clear enough now for those that are not even part of the conversation but merely seem to be trying to correct something.
Large corporations and institutions may routinely publish mid year (6 month) performance reports, but the only ever publish ONE annual (full financial year) report each year. I struggle to understand why some people would think the CAMS financial year would be July-June when their competition year is January-December. Revenue and expenditure would not match with the actual year result if there was a mis-match in dates. The report is titled ANNUAL (ie 1 year) report, not 6 months of the actual annual report!
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Old 5 Jul 2017, 10:19 (Ref:3749073)   #22
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Originally Posted by GeoffR View Post
Large corporations and institutions may routinely publish mid year (6 month) performance reports, but the only ever publish ONE annual (full financial year) report each year. I struggle to understand why some people would think the CAMS financial year would be July-June when their competition year is January-December. Revenue and expenditure would not match with the actual year result if there was a mis-match in dates. The report is titled ANNUAL (ie 1 year) report, not 6 months of the actual annual report!
correct, not sure your point really.
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Old 5 Jul 2017, 10:26 (Ref:3749076)   #23
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correct, not sure your point really.
Just that it is a 12 month/full financial year report, not just 6 months of 12 months.
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Old 5 Jul 2017, 10:36 (Ref:3749077)   #24
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Originally Posted by GeoffR View Post
Just that it is a 12 month/full financial year report, not just 6 months of 12 months.
yes, as per the report

dude i really have no idea where toy are going, so i will leave this for now
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Old 5 Jul 2017, 11:10 (Ref:3749085)   #25
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Oh. My. Goodness.

A whole page of navel gazing over a report which is clearly dated as to which bit of which years it covers...

Come on, guys, you can do better than that. Dullest discussion ever. Just talk about the sport for goodness sake.
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