He added: "But there are still some very competitive deals on the market, offering significant savings against the average big six standard
variable plan.
This is not enough data for stakeholders to give truly informed input on impairing the duplex gap, let alone the impact of a
variable plan more generally.
The
variable plan term assumes values between 0 and 25 years, with mean and median around 4 years and standard deviation of 3.97 years.
Moneycorp offers better rates than the bank as well as fixed and
variable plan options giving customers the ability to then 'lock' into favourable exchange rates," said Jackson.
As restated, the net loss for fiscal 2003 of $6,956,000 includes a
variable plan accounting charge of $1,141,000.
During the most recent quarter the company booked $13.2 million in noncash charges, including $10.4 million related to store closings and impairment and $2.63 million resulting from
variable plan accounting for stock-based compensation.
will result in
variable plan treatment." In fact, accountants need to be mindful at all times, not only during the transition period.
Once an option price is lowered to increase its value as compensation or to broaden its appeal, the option must be accounted as "
variable plan." Additional changes or repricing in a
variable plan must be recorded as a charge against earnings until the options are exercised.
Conversely, compensation cost would generally be reduced for entities that rely predominantly on performance-based or other
variable plan awards.
Noncash items in the fiscal 2003 quarter included a $58.7 million charge related to store closings and impairment, $528,000 in closed store liquidation expenses, $6.75 million of income resulting from
variable plan accounting for stock-based compensation, the aforementioned $1.4 million gain from early debt extinguishment, and $5,000 in other income.