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Stamps held by the public and USPS revenues



 
 
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Old August 12th 16, 10:12 PM posted to rec.collecting.stamps.discuss
Victor Manta
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Default Stamps held by the public and USPS revenues

In Linn's Stamp News, August 10, 2016, from the article: "Why the U.S.
Postal Service’s net losses for the year are growing" by Bill McAllister, I
learned as follows:

"One of the changes USPS made in the quarter was a revision to how many
stamps are held by the public.

That revision added $1 billion to postal revenues in the latest quarter.

The Postal Service does not record postage as a revenue item until the stamp
purchased is used in the mail. It notes how many stamps the public has
purchased and records this number as a “deferred revenue-prepaid postage
liability.” "

Can anybody explain what kind of revision was the one mentioned above, and
why did it add so much to the postal revenues? TIA.

Victor Manta, PWO

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