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CWB lost $467M on Hedging Activity

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    #16
    Charlie,

    Does this make any sense to you?

    "28. Comparative figures [assumption that adding 000 to all numbers quoted]

    Certain of the prior year’s figures have been reclassified to conform to the current year’s presentation. The July 31, 2007 Combined Statement
    of Operations includes $4,527,378 of combined pool earnings plus $92 from cash trading operations, less $1,066,304 in payments to
    producers and other expense under the PPO programs which were previously shown only in the statement of PPO program operations but are
    now reflected in Grain Purchases, resulting in net earnings of $3,461,166. Last year, the statement of operations for each pool and program
    was presented separately. The pool statements were the only statements that also had a combined statement. This year all statements of
    operation from all pools and programs are combined resulting in the reclassifications noted above."

    Comment


      #17
      Auditors ghave let us down.

      Fancy auditing

      The auditors should be brought to task for custom-designing books.

      Auditors should be doing their job and laying out a FACTUAL, NON-SPIN, CONSISTENT REPORT. A report that is not meant to hide information or put information in a different light.

      pars

      Comment

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