"How can we publish our results if we can't say where the red ink will stop on Nimrod and Astute?" asked an executive. "The lack of co-operation from the Government is astounding."
Another said: "This will make it enormously difficult for us to draw up our accounts."
This is
pathetic. Didn't they realise the implications of a fixed price contract when they took it on?
Many other companies have no problems presenting accounts when they are on fixed price contracts with possible exposure to losses. Companies with leasing arms also have to account for possible unquantified losses. None of them start to whine that they don't know how to present their accounts.