BYJU’s. India’s most valuable startup. The world’s most valuable ed-tech company. These are BIG milestones for any company — even though VC/private equity valuation is a number cooked up in thin air based on rosy and unrealistic forecasts — you’d think that BYJU’s must be one of the best run companies in the world.
“The company says that’s because of a change in the revenue recognition policy where they weren’t allowed to record all of the upfront payments received in a single year.”
Isn’t this simply the difference between cash and accrual accounting?