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ZERO-101
Sounds of Silence Crimson Evolution
1
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Posted - 2012.05.25 22:06:00 -
[1] - Quote
Its such a massive push to sell plex on the part of ccp, they created this whole thing to make more revenue, start of inferno and a new plex mega sale.
You can see the effect the extra plex has already had on its price. The volume sold is almost steady at 3000 a day.
I remember reading an email from one of there bosses about AURA sales and how excited he was when we where buying them.
I hope they put all this cash to good use and spend it on us instead of themselves |
Surfin's PlunderBunny
Hulkageddon Orphanage
1257
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Posted - 2012.05.25 22:12:00 -
[2] - Quote
CCP is a business that tries to make money??? OMG! |
IHaveCandyGetInTheVan69
Angry Mustellid Iron Oxide.
171
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Posted - 2012.05.25 22:16:00 -
[3] - Quote
They have to make money to fund things like:
Planetside : Playstation
The new Inventory
The runners up Alliance tournament X |
Bootleg Jack
Potters Field
98
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Posted - 2012.05.25 22:17:00 -
[4] - Quote
You of course know that PLEX that doesn't go to AUR is a liability on the books? I'm an American, English is my second language... |
ZERO-101
Sounds of Silence Crimson Evolution
1
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Posted - 2012.05.25 22:18:00 -
[5] - Quote
Surfin's PlunderBunny wrote:CCP is a business that tries to make money??? OMG!
Nothing worng with that, but theres too many nagging issues that they wont address.
Customer service with GM's is way too long.
Putting items up for contract and in the market and to have it vanish, there's no log to prove this happened.
It seem's geared to keeping pvp players happy.
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Corina Jarr
Spazzoid Enterprises Purpose Built
786
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Posted - 2012.05.25 22:21:00 -
[6] - Quote
Bootleg Jack wrote:You of course know that PLEX that doesn't go to AUR is a liability on the books? No it isn't its already been paid for, so no problem for CCP. Also, in general PLEX cost more than a sub. |
Vaal Erit
Science and Trade Institute Caldari State
281
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Posted - 2012.05.25 23:31:00 -
[7] - Quote
Corina Jarr wrote:Bootleg Jack wrote:You of course know that PLEX that doesn't go to AUR is a liability on the books? No it isn't its already been paid for, so no problem for CCP. Also, in general PLEX cost more than a sub.
There's a slight difference between getting cash for a PLEX sale and being able to count it for revenue. CCP can't recognize PLEX sale as revenue until it is applied in some way.
So while CCP will be able to record all PLEX sales as revenue eventually, it makes their bottom line look better if PLEX are used up quicker |
Herping yourDerp
Federal Navy Academy Gallente Federation
612
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Posted - 2012.05.25 23:38:00 -
[8] - Quote
when you buy a plex they get the money pretty much instantly how is it not revenue on the books? whether its used for game time, lost in a ship cargo, or turned into aurum doesn't matter, its like a gift card kinda. |
Daneirkus Auralex
The Foreign Legion Test Alliance Please Ignore
135
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Posted - 2012.05.25 23:43:00 -
[9] - Quote
http://archiwum.polygamia.pl/files/CCP_registration_2.pdf
Deferred income, sure. But cash flows and IFRS or GAAP liabilities are two different things.. While a balance sheet may show unearned revenue, it doesn't mean that cash is unavailable for use. Especially since we have to option to reverse-transact PLEX for RL cash. |
Daneirkus Auralex
The Foreign Legion Test Alliance Please Ignore
135
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Posted - 2012.05.25 23:44:00 -
[10] - Quote
oh wait, I'm in the CFC - SPERG PUBBIE YOU IDIOTS BLAH BLAHBLAH
ARE YOU NOT ENTERTAINED?!?!!!! |
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Nick Bison
Bison Industrial Inc Thundering Herd
277
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Posted - 2012.05.25 23:45:00 -
[11] - Quote
Vaal Erit wrote:Corina Jarr wrote:Bootleg Jack wrote:You of course know that PLEX that doesn't go to AUR is a liability on the books? No it isn't its already been paid for, so no problem for CCP. Also, in general PLEX cost more than a sub. There's a slight difference between getting cash for a PLEX sale and being able to count it for revenue. CCP can't recognize PLEX sale as revenue until it is applied in some way. So while CCP will be able to record all PLEX sales as revenue eventually, it makes their bottom line look better if PLEX are used up quicker
Bolded the part I think may be wrong. If that were true, then there would be no way CCP would allow it to be a destroyable item. That would mean CCP looses X real life money each time a PLEX is destroyed?
Of course, I could be missing something ... searched but couldn't find anything yet.
Nothing clever at this time. |
sabre906
Old Spice Syndicate Sailors of the Sacred Spice
81
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Posted - 2012.05.26 00:01:00 -
[12] - Quote
IHaveCandyGetInTheVan69 wrote:They have to make money to fund things like:
Planetside : Playstation
The new Inventory
The runners up Alliance tournament X
World of Darkness. Yeah, it's back alive again.
Also, kitchen renovations. Yeah, CCP has a kitchen in their office. The place is like an art-deco exhibit, as opposed to an office. Guess where the money for that comes from. |
Sup B1tches
Quovis CORE Alliance
51
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Posted - 2012.05.26 00:06:00 -
[13] - Quote
sabre906 wrote:IHaveCandyGetInTheVan69 wrote:They have to make money to fund things like:
Planetside : Playstation
The new Inventory
The runners up Alliance tournament X World of Darkness. Yeah, it's back alive again. Also, kitchen renovations. Yeah, CCP has a kitchen in their office. The place is like an art-deco exhibit, as opposed to an office. Guess where the money for that comes from.
And don't forget nerf guns for cube warz! |
Daneirkus Auralex
The Foreign Legion Test Alliance Please Ignore
136
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Posted - 2012.05.26 00:18:00 -
[14] - Quote
Nick Bison wrote:Bolded the part I think may be wrong. If that were true, then there would be no way CCP would allow it to be a destroyable item. That would mean CCP looses X real life money each time a PLEX is destroyed?
Of course, I could be missing something ... searched but couldn't find anything yet. Say you purchase a $15 gift card to Starbucks. Starbucks creates an accounting entry for a $15 debit to liabilities under "unearned revenue," "prepaid revenue," "deferred income" or something similar. Their cash balance has increased by $15.
When you spend $5 bucks from the card on a coffee, there's no change to starbucks' cash balance (they already have your money), but deferred income decreases by $5 while revenue increases by $5. This continues until the card is depleted, bringing deferred income to 0 and earned revenue to 15.
If the card gets lost or destroyed (and Starbucks was able to know right away) they'd zero out deferred income and credit revenue for the full $15. (This assumes they have a no refund policy). Since they can't possibly know right away, they instead subtract an annual or monthly fee from the card's balance and perhaps provide an expiration date at which it looses all value.
CCP on the other hand, does have the means to know right away - they can just get a report to tell them how many PLEX were destroyed during a given period, or a report on how many PLEX were injected for game time. At that point, they could reduce deferred income and credit revenue/sales accordingly.
Financial accounting aside, none of CCPs revenue recognition policies change the fact that once your cash is in their hands, its theirs to use as they please, presumably after a sensible cool-down period. There are no refunds for PLEX, at least as far as I'm aware. This difference between accounting "revenue" and actual cash flow is one of the reasons behind the need for both an Income Statement and a Statement of Cash Flows in corporate financial statements. |
Tyraeil Starblade
Ronin Wing
13
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Posted - 2012.05.26 00:40:00 -
[15] - Quote
Pretty sure every PLEX is purchased either through GTCs or outright as PLEX. You could consider the revenue at the point of sale as when they make their money.. |
AFK Hauler
State War Academy Caldari State
168
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Posted - 2012.05.26 00:41:00 -
[16] - Quote
Daneirkus Auralex wrote:Nick Bison wrote:Bolded the part I think may be wrong. If that were true, then there would be no way CCP would allow it to be a destroyable item. That would mean CCP looses X real life money each time a PLEX is destroyed?
Of course, I could be missing something ... searched but couldn't find anything yet. Say you purchase a $15 gift card to Starbucks. Starbucks creates an accounting entry for a $15 debit to liabilities under "unearned revenue," "prepaid revenue," "deferred income" or something similar. Their cash balance has increased by $15. When you spend $5 bucks from the card on a coffee, there's no change to starbucks' cash balance (they already have your money), but deferred income decreases by $5 while revenue increases by $5. This continues until the card is depleted, bringing deferred income to 0 and earned revenue to 15. If the card gets lost or destroyed (and Starbucks was able to know right away) they'd zero out deferred income and credit revenue for the full $15. (This assumes they have a no refund policy). Since they can't possibly know right away, they instead subtract an annual or monthly fee from the card's balance and perhaps provide an expiration date at which it looses all value. CCP on the other hand, does have the means to know right away - they can just get a report to tell them how many PLEX were destroyed during a given period, or a report on how many PLEX were injected for game time. At that point, they could reduce deferred income and credit revenue/sales accordingly. Financial accounting aside, none of CCPs revenue recognition policies change the fact that once your cash is in their hands, its theirs to use as they please, presumably after a sensible cool-down period. There are no refunds for PLEX, at least as far as I'm aware. This difference between accounting "revenue" and actual cash flow is one of the reasons behind the need for both an Income Statement and a Statement of Cash Flows in corporate financial statements.
You are not accounting for the fact that a coffee is an actual item that has overhead.. While a PLEX is not an actual item, so it has inferred expenses. they can spend it at will w/o incurring overhead
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Elessa Enaka
State War Academy Caldari State
87
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Posted - 2012.05.26 00:49:00 -
[17] - Quote
You are obviously someone planted within the CFC by someone else (my guess is some uber-bitter former BoB member).
There is no other explaination, you make far too much sense. Devour to survive, so it is, so it's always been Eve is a great game if you can get past all of the asshats.... |
Daneirkus Auralex
The Foreign Legion Test Alliance Please Ignore
136
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Posted - 2012.05.26 00:50:00 -
[18] - Quote
Tyraeil Starblade wrote:Pretty sure every PLEX is purchased either through GTCs or outright as PLEX. You could consider the revenue at the point of sale as when they make their money.. Perhaps, but page 48 of their registration doc linked above would indicate otherwise, under "revenue recognition."
To AFK Hauler, I don't know what you mean. I'm talking about revenue recognition, which doesn't have too much to do with variable or fixed expenses.
On a side note, here's some interesting math about the PLEX for NVidia GPU deal - under the assumptions that the GPU cost 20 PLEX, and each PLEX costs $17.50:
GÇó Retail cost of GTX 560 ~= $180 (not accounting for presumed wholesale discount) GÇó Trading cost of GPU in USD = $17.50 x 20 = $350 GÇó Number of cards exchanged = 100
This deal presumably net CCP a gain of at least $17,000 on the PLEX to GPU conversion, as each 20 PLEX that were traded in were done so at a $170 premium to CCP. |
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