Business
What’s with the Buddy (ASX:BUD) share price today?
The Buddy Technologies Limited (ASX: BUD) share price is one to watch this morning after reporting inflated revenue figures and a major supply chain error.
Why is the Buddy share price on watch?
The internet of things (IoT) and cloud-based solutions provider updated on the market after trade closed last night on its March 2021 quarterly results.
Buddy has identified a reporting error in its internal management reports and accounts for the March sales data. That error was the incorrect inclusion of intercompany accounts, which would usually be cancelled out in internal accounting.
As a result of the error, Buddy’s management accounts for March had incorrectly included intercompany accounts, which inflated the quarterly revenue…
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