|
JAA’s accounting comes home to roost
Image Gallery (6 Images)

The JAA’s latest financial reports highlight a continuing decline in membership and profitability casting doubt over the legitimacy of its explanation of its 2024 financial performance, as well as the Board’s claims about the “Association’s overall financial position or direction”.

Joshua Sharp, JAA president: Under his tenure, the JAA stopped publishing membership numbers and/or breakdowns.

MEMBERSHIP INCOME: The first table shows the JAA’s reported membership income for CY24 and CY25, based on its claim that it needs an annual accounting adjustment. Now that CY25 is finalised, the real membership income averaged over the two years is $181,497, down from $252,225 in 2023.

TOTAL REVENUE: The first table shows the JAA’s reported revenue for CY24 and CY25, based on the JAA’s claim about needing an annual “accounting adjustment”. Now that CY25 is finalised, the real revenue averaged over the two years is $191,102, down from $254,627 in 2023.

RISING: While membership income and total revenue decline, staff expenses have risen for the JAA.

FINANCIALLY STABLE? - The JAA told members that a $21,000 loss in 2024 was only “a loss on paper” due to an accounting adjustment. However, now that the 2025 results have been reported, the combined result over two years is a $3,685 loss, or an average loss of $1,843 per year.
|
|
Search for Watch Dial Refurbishing
|
|