The greatest trick the accounting devil ever pulled was stating that writing off goodwill/intangibles is 'non-cash' and has no impact on operating cashflows. That is only true in the current period, it says nothing about the past malinvestment - that was paid in cash - to acquire the now written-off assets... Such a joke of a statement every time I read it...and literally every co, good or bad, trots it out to be lapped up $EVO.AX
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