Brief: Australia's ASIC Says Data#3 Changes Accounting Policy For Indirect Software Rev

Data#3

20/03/2024 01:29

March 20 (Reuters) - Australia's ASIC- 
    * DATA#3 ANNOUNCES CHANGE TO ACCOUNTING POLICY FOR INDIRECT
SOFTWARE REVENUE RECOGNITION FOLLOWING ASIC REVIEW
    * DATA#3'S RESTATEMENT RESULTED IN A$1.67 BILLION DECREASE
TO
REVENUE FOR YEAR ENDED 30 JUNE 2023
    * DATA3 CHANGED ACCOUNTING POLICY TO RECOGNISE REVENUE FROM
CONTRACTS FOR SALE OF SOME SOFTWARE PRODUCTS AS AGENT RATHER
THAN A PRINCIPAL
    * DATA#3'S RESTATEMENT RESULTED IN A$761 MILLION DECREASE TO
REVENUE FOR HALF YEAR TO 31 DECEMBER 2022

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