Share-based payments
proportion to the degree of truth which it contains." Henri Frederic Amiel Builder. ai, a UK start-up (founded a.o. by Microsoft, Quatar Invest. Authority), restated their 2023 revenue down to $140 million. ✍ Builder. ai also appointed a new auditor (BDO) after accusations of corporate governance issues. 🔎 As Builder. ai do not publish their financial statements, I used some deduction to illustrate the issue and possible root causes. The basis is the five-step model of the IFRS 15 Revenue from Contracts with Customers: 1. Identifying the contract. 2. Identifying performance obligations. 3. Determining the transaction price. 4. Allocating the transaction price to performance obligations. 5. (Pattern of) satisfaction of performance obligations. *Source: Financial Times.