contra revenues offers redeem

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  • panjandrum

    Lapsed Moderator
    English-Ireland (top end)
    Hello PilarIDP and Welcome:)

    It would help us to help you if you could give us some context - even the sentence that includes this phrase would help.
     

    panjandrum

    Lapsed Moderator
    English-Ireland (top end)
    I guessed it was from an accounting context.
    We can't help you if you don't give us at least the sentence this strange phrase is used in.
    Let me illustrate our confusion:
    Is offers a verb or a noun?
    If it's a verb, it does not agree with what might be the subject - but we don't know what the subject is.
    Surely redeem is a verb?
    If so, the preceding words must be the subject of the verb? But that is not sensible?

    Give us more context please.
     

    PilarIDP

    New Member
    Spanish - españa
    panjandrum said:
    I guessed it was from an accounting context.
    We can't help you if you don't give us at least the sentence this strange phrase is used in.
    Let me illustrate our confusion:
    Is offers a verb or a noun?
    If it's a verb, it does not agree with what might be the subject - but we don't know what the subject is.
    Surely redeem is a verb?
    If so, the preceding words must be the subject of the verb? But that is not sensible?

    Give us more context please.
    Im so sorry but I haven´t more context to give you: It´s in a excel sheet, under expenses items, and it is all I know

    Thank very much for helping me, but
     

    panjandrum

    Lapsed Moderator
    English-Ireland (top end)
    Im so sorry but I haven´t more context to give you: It´s in a excel sheet, under expenses items, and it is all I know
    Apology not required:)
    Now we know such a lot that we didn't know before.

    1. This is an item description in an expenses spreadsheet.
    2. It is not part of a sentence in a textbook or journal.
    3. It may have been typed in a hurry - so may be incorrect in some way.
    4. It is there as a note to explain the expense - it's a reminder, not a detailed literary description.
    5. It's from a cell on a spreadsheet so it is very likely to be deliberately concise - more significance later;)

    What follows is guesswork, but it is much more informed guesswork than I could have offered without your very valuable additional information.

    contra - it is an amount received that is being entered in an account that normally only includes expenditure - it will therefore be entered as a negative amount.
    revenues - either the amount is recorded in the revenues column, or perhaps the original expenditure was recorded in the revenues column.
    offers redeem - I guess that the spreadsheet display, or print, has omitted ed from the end of offers redeemed. The amount has been received (or is offset against expenditure) as a result of offers having been redeemed. I don't know for sure what that means of course, but it kind of makes sense to me.

    So, there you go.
    I look forward to hearing what you think of this:D
     

    coconutpalm

    Senior Member
    Chinese,China
    http://sec.edgar-online.com/2003/03/31/0000311049-03-000001/Section9.asp
    quote: EITF 00-14 requires that cash or equivalent amounts provided or returned to customers as part of a transaction should not be shown as an expense but should be an offset to the related revenue. The Company offers certain incentives to its customers to encourage visitation and play at the casino. Per the consensus, with prior year restatement also required, the cost of these programs should be reported as a contra-revenue, rather than as an expense.

    Pilar, I hope this can help you.
    Mod: The passage quoted contains 3 sentences.
     

    panjandrum

    Lapsed Moderator
    English-Ireland (top end)
    Thanks coco.
    I am sorely tempted to say "Bingo" - but I won't.

    contra revenues - this amount is of the type coco's link defines

    offers redeemed - this amount represents the cost of incentives that have been offered to customers, probably as some kind of vouchers that have been presented as part-payment, ie they have been redeemed.

    Good teamwork there, I think:)
     
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