In general, when is it ok to present a COGS smoothing adjustment, essentially adjusting monthlies to annual % of revenue. Is there a specific industry or situation where it’s acceptable? I’ve seen a lot of back and forth on this topic.

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Have never personally done this. Might make sense for a subscription based businesses - you take revenue throughout the year but incur 80% of cost to service at the subscriptions inception (onboarding, outfitting, etc.) so you defer some of the costs throughout the life of the contract? A typical “smoothing” adjustment would move revenue based on actual costs incurred as others have mentioned.

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Can be seen in industries with ETC / contract accounting (defense / construction / etc)

I'm not sure I've ever done this. Only if there were something underlying (accounting issue or non-recurring issue) causing it

Isn’t that hindsight usually a revenue adjustment, rather than a COGS adjustment?

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