Done with Fuji and Adorama forever...

[Doppler9000]

Particularly when it comes to an entirely new and unique product.

I'd be more inclined to blame the nonsensical, cavalier nature of the tariff landscape more than anything else.

As someone who has worked side by side with PMs on forecasts I know I'd be recommending shifting shipments to other markets instead of the clown show here in the US until things settle down.

(as also posted on another forum on Open Talk Forum):

https://bythom.com/newsviews/the-tariff-changes-update.html

One correction. Thom says (not yet corrected as of 8:15AM PST),

• Fujifilm — announced that at least temporarily, the X100VI, GFX100RF, and X-M5 will not be available (they're made in China)."

My GFX100RF on the back says, Made in Japan.

That does not mean that some subassemblies or components are not made in China. The BMW X series is made in Greenville South Carolina USA. Made in America so you would hear. However, the motor and most of the drive train comes from Germany, most of the electronic components come from China and parts and subassemblies come from Mexico and a lot of the steel comes from Canada. It is assembled in the US. Tariffs have to be paid on the engine those components and subassemblies as they come into the US. Apple is a US company - your iPhone, iPad and Mac are made manufactured in China with most of the processors coming from Taiwan. Nvidia is a US company - all its top in chips are manufactured in Taiwan. The list is almost endless.

Since the 1980's the US has been promoting a global supply chain. This trend was started for very good reasons in 1972 by then President Richard Nixon opened up China to the world. It has resulted in economic growth and created a global economic interdependency. Many small companies in the US depend on manufacturing of its good off shore and many in China and they have to pay tariffs when they bring those items in the US to sell in the US. Many can't afford the tariffs to bring in their inventory so it sits in China. Just one of many examples.

https://www.theguardian.com/us-news/2025/apr/10/trump-tariffs-small-businesses

The biggest long term disruption of these insane tariffs will come from the destruction of a well oiled global supply chain which brings economic efficiency. What we are seeing now is most likely just the tip of the iceberg. No Walmart is not going to "eat the cost of the tariffs," the US consumer will be the one paying assuming he/she can even get the articles.

We should have learned our lesson from the impact of the of the Smoot-Hawley Tariff Act in 1930. It seems we haven't. We should have learned the lesson from the supply chain crisis of the pandemic years, we didn't. President Harry Truman famously said, "The only thing new in the world is the history you don't know. The next generation never learns anything from the previous one until it's brought home with a hammer".

That hammer is getting ready to fall.

Fujifilms seems to has created new products that have generated high interest. Products that target new younger audiences. While Sony, Canon and Nikon are pushing technology in the top end "SLR style" cameras, these are traditional products whose customer base is not growing all that much. The X100 was a creative product that caught fire with the X100V as its exposure on social media (free advertising for Fuji) generated interest in a new demographic. The XT50 another creative product emphasized the unique color science of Fuji to take advantage of its extensive library of film simulations to stimulate interest in new potential customers - mostly younger. It is interesting to follow the negative responsive to the XT50's dedicated film simulation dial on the FujiX forum by the "old timers." However, it was not for them that Fuji designed this camera - it was potential new customers. The GFX100RF has put the X100 concept on steroids to bring medium format to a wider audience. It seems these efforts were successful.

So product wise to use a sports analogy - the X100V and X100VI were home runs. While the XM5 and XT50 may not have been home runs they were good solid doubles - clearing the bases. It seems the GFX100RF may also be a home run. The soon to be released half frame camera, also one that generates distain on the FujiX forum will probably be a good solid base hit that could stretch into a double. Fuji over the past two or so years has generated new buzz and brought in new customers as is clear from the increase in revenues. That success has stressed the production capacity and the tariffs have put a constrain on how they can respond to the demand. I and sure the creative and marketing departments and share holders are cracking open the bubbly to celebrate while the production engineers are pulling their hair out trying to meet the demand. On the other hand for Fuji that is a good problem to have. For the consumer - it means lines , inflated used prices and scalpers.

I worked for a German equipment manufacturer. One of our most popular machines was 100% made in turkey, without the electric motors. It was imported, painted, and SEW motors put on it. And, MADE IN GERMANY nameplates were attached to it.

Made in any country is a farce....

The regulations regarding attribution vary by country - one can’t sensibly generalize regarding this issue.

it is a marketing ploy for many companies and not a statement of universal quality like it was until the Clinton years. There is some amazing stuff actually being made in China, and some junk with the label 'Made in Germany' being sold across many industries.

 

[JimKasson]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Under U.S. GAAP (and similarly under IFRS), revenue is recognized according to the five-step model in ASC 606:

1. Identify the contract with a customer
2. Identify the performance obligations
3. Determine the transaction price
4. Allocate the price to the performance obligations
5. Recognize revenue when (or as) performance obligations are satisfied

For physical goods, revenue is recognized when the product ships, and control passes to the customer (typically FOB shipping point or FOB destination — depending on the terms).

I stand corrected....thank you Jim.

Thanks for that.

It has been a few years since business school and I was thinking about managerial accounting, missing the GAAP requirements for reporting standards. The private companies I worked for used a deposits as the trigger to show sales, and paid our performance bonuses on this.

There are a different set of criteria for recognizing bookings. And sales bonuses are sometimes based on bookings, with the potential for clawbacks.

 

[jerseyinHK]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Under U.S. GAAP (and similarly under IFRS), revenue is recognized according to the five-step model in ASC 606:

1. Identify the contract with a customer
2. Identify the performance obligations
3. Determine the transaction price
4. Allocate the price to the performance obligations
5. Recognize revenue when (or as) performance obligations are satisfied

For physical goods, revenue is recognized when the product ships, and control passes to the customer (typically FOB shipping point or FOB destination — depending on the terms).

I stand corrected....thank you Jim.

Thanks for that.

It has been a few years since business school and I was thinking about managerial accounting, missing the GAAP requirements for reporting standards. The private companies I worked for used a deposits as the trigger to show sales, and paid our performance bonuses on this.

There are a different set of criteria for recognizing bookings. And sales bonuses are sometimes based on bookings, with the potential for clawbacks.

That company manufactured large machinery for the heavy clay industry. Sales were nearly all completed through a distributor network. I also think much of the accounting was done for their 'internal financing', as the owners self-financed the company rather than using a bank line of credit. Orders were processed and booked for our monthly reporting, then materials were ordered to manufacture the equipment.

 

[SilverEagle1962]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

 

[SeeingSomeThingsMissingMany]

This GFX100RF experience was an eye opener to me on how things are handled nowadays from business aspect in retail stores like Adorama and from camera manufacturers like Fuji…..I am done with Fuji's games FOREVER and done with Adorama's disrespect to a customers willing to fork 5K for a point and shoot camera.

I canceled my Preorder for GFX100RF.

Such a relief….!!

For everyone who got his camera I wish you the best and I will still enjoy what you capture with it.

Perhaps it's the Universe protecting you.

Who knows maybe one day you were out with 100Rf, something untoward happens because someone else (violently) wanted your 100Rf.

Silver lining and all that.

--
Photography after all is interplay of light alongside perspective.

 

[SilverEagle1962]

This GFX100RF experience was an eye opener to me on how things are handled nowadays from business aspect in retail stores like Adorama and from camera manufacturers like Fuji…..I am done with Fuji's games FOREVER and done with Adorama's disrespect to a customers willing to fork 5K for a point and shoot camera.

I canceled my Preorder for GFX100RF.

Such a relief….!!

For everyone who got his camera I wish you the best and I will still enjoy what you capture with it.

Perhaps it's the Universe protecting you.

Who knows maybe one day you were out with 100Rf, something untoward happens because someone else (violently) wanted your 100Rf.

Silver lining and all that.

Or may be faulty on off switch will show up after warranty is over….who knows ….

 

[Doppler9000]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

 

[SilverEagle1962]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

I am positive there is something to the creepy PREORDER….done it once , cancelled it …will never do it again.

--
https://www.flickr.com/photos/151760793@N02/

 

[JimKasson]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

There appears to be an agenda here, with confirmation bias at work. I can understand your frustration, but I think you are attributing dark motives without evidence.

I am positive there is something to the creepy PREORDER….done it once , cancelled it …will never do it again.

--
https://blog.kasson.com

 

[SilverEagle1962]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

There appears to be an agenda here, with confirmation bias at work. I can understand your frustration, but I think you are attributing dark motives without evidence.

I am positive there is something to the creepy PREORDER….done it once , cancelled it …will never do it again.

????????

 

[JimKasson]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Let's say the company doesn't practice accrual accounting, but uses cash accounting, which would be unlikely. In that case, you can't book revenue until you get the cash or cash equivalent. That would mean that revenue recognition would occur after the card is charged, not after the credit hold is instated.

 

[DavidMillier]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Let's say the company doesn't practice accrual accounting, but uses cash accounting, which would be unlikely. In that case, you can't book revenue until you get the cash or cash equivalent. That would mean that revenue recognition would occur after the card is charged, not after the credit hold is instated.

That's got to be the first reference to cash accounting v accruals I've ever come across on DPR in 25 years (I used to work for the UK National Audit Office, so the terms are very familiar to me)

 

[JimKasson]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Let's say the company doesn't practice accrual accounting, but uses cash accounting, which would be unlikely. In that case, you can't book revenue until you get the cash or cash equivalent. That would mean that revenue recognition would occur after the card is charged, not after the credit hold is instated.

That's got to be the first reference to cash accounting v accruals I've ever come across on DPR in 25 years (I used to work for the UK National Audit Office, so the terms are very familiar to me)

Glad to help you relive old memories.

 

[SilverEagle1962]

I find it rather odd Jim when you accuse me of having an AGENDA when you could not refute another member mentioned it is a common practice, so I follow dark movies but you do not when making such accusation? .

Let me tell you this and I will conclude with it may posts on this thread I initiated.

I am a board certified Internist been practicing medicine since 1985, and still, I love photography it is my hobby and I love everything about it from film to digital sans dark room where I do not want to immerse myself with chemicals or deal with it ( so it is develop film at home then scan and print…missing a lot but still rewarding experience)

I never had the experience of preorder …all those years it has been: I choose what I want to purchase check my cart out , pay for it , get it.

This was the first preorder experience I had and it was against my instinct , and it turned out my instinct was right.

I placed the preorder on April 7th and since then 2 emails to fuji with inquiries …non returned…about 7 emails to Adorama , non returned and almost every other day on the chat with Adorama rep. plus calls to their customer service to get ONE QUESTION ANSWERED….JUST ONE:

What is my rank on the preorder of the unfulfilled list?

I do not need to know how many , just my rank…I told them many times you have the time stamp of all the preorders to the second, and supposed to fill it first come first served, if you call most busy companies/stores on the phone including Adorama they will tell you in an automated message you are caller number 10 or 15 estimated time of waiting is 14 min or so do you want to continue holding or you want us to call yo back, yet they will never ever tell me what my rank is ….if this is not shady I do not know what is? they say fuji did not give us an estimated time of fulfilling the preorders, I say what fuji has to do with this , it is Adorama who has the time stamp of preorders and it is Adorama who knows what my rank is , fuji has nothing to do with it….no answer …THAT IS IN MY BOOK SHADY.

It made me think of something to the preorders compared to buying stuff on the shelf and another commenter confirmed my suspicion , I said many times I do not have a proof, just an instinct, which it totally different from an AGENDA…!

At the end I do respect you Jim as a moderator and it is my last comment on this thread , but accusing me of an Agenda is sad to me at least.

I wish whoever got the camera to enjoy it and I will as I said before enjoy what they capture with it, but I AM DONE WITH ADORAMA , PREORDERS, FUJI.

--
https://www.flickr.com/photos/151760793@N02/

 

[Doppler9000]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

You find it interesting because in spite of being untrue, it is consistent with your hypotheses, it seems. Internally, for bonuses or whatever reasons, companies can do whatever they like with accounting.

They cannot, however, recognize revenue in audited statements or public filings unless specific criteria have been met. Preorders don’t count as events that allow revenue recognition.

The claim that preorders as recognized revenue is standard accounting practice isn’t true, and doesn’t support the notion that nefariousness is afoot.

As a doctor, you should look to objective facts and evidence, not biased theories, to inform your decision-making.

I am positive there is something to the creepy *PREORDER*….done it once , cancelled it …will never do it again.

 

[JimKasson]

I find it rather odd Jim when you accuse me of having an AGENDA when you could not refute another member mentioned it is a common practice,

I consider this a refutation:

Under U.S. GAAP (and similarly under IFRS), revenue is recognized according to the five-step model in ASC 606:

1. Identify the contract with a customer
2. Identify the performance obligations
3. Determine the transaction price
4. Allocate the price to the performance obligations
5. Recognize revenue when (or as) performance obligations are satisfied

For physical goods, revenue is recognized when the product ships, and control passes to the customer (typically FOB shipping point or FOB destination — depending on the terms).

Have you looked at ASC 606?

https://www.google.com/search?q=asc+606+revenue+recognition

so I follow dark movies

Dark movies? Like cinema noir?

but you do not when making such accusation? .

--
https://blog.kasson.com

 

[SilverEagle1962]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

You find it interesting because in spite of being untrue, it is consistent with your hypotheses, it seems. Internally, for bonuses or whatever reasons, companies can do whatever they like with accounting.

They cannot, however, recognize revenue in audited statements or public filings unless specific criteria have been met. Preorders don’t count as events that allow revenue recognition.

The claim that preorders as recognized revenue is standard accounting practice isn’t true, and doesn’t support the notion that nefariousness is afoot.

As a doctor, you should look to objective facts and evidence, not biased theories, to inform your decision-making.

I am positive there is something to the creepy *PREORDER*….done it once , cancelled it …will never do it again.

I have to clear this:

I said clearly it is an instinct ( subjective) , I do not have proof ( objective)

You can pick and choose from what I said all day long.

 

[Doppler9000]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Interesting enough for me…!!!

You find it interesting because in spite of being untrue, it is consistent with your hypotheses, it seems. Internally, for bonuses or whatever reasons, companies can do whatever they like with accounting.

They cannot, however, recognize revenue in audited statements or public filings unless specific criteria have been met. Preorders don’t count as events that allow revenue recognition.

The claim that preorders as recognized revenue is standard accounting practice isn’t true, and doesn’t support the notion that nefariousness is afoot.

As a doctor, you should look to objective facts and evidence, not biased theories, to inform your decision-making.

I am positive there is something to the creepy *_PREORDER_*….done it once , cancelled it …will never do it again.

I have to clear this:

I said clearly it is an instinct ( subjective) , I do not have proof ( objective)

If you prefer to use instinct rather than evidence and logic, fill your boots. Expect the resulting assertions to be challenged, however.

You can pick and choose from what I said all day long.

If you are interested in learning more about the subject, search the term “channel stuffing”.

 

[jerseyinHK]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Just curious (and not trying to throw fuel on this), but I believe Adorama is a private S-Corp company, and they don't need to follow GAAP reporting?

 

[JimKasson]

Jim - receiving a deposit or a hold on your CC, and they can book the sale on their books, along with an accounts receivable. Some in management like to operate this way, particularly if they are rewarded on sales.

Do you have examples of companies booking preorders as revenue, or are you speculating?

Standard accounting practice....this is rather common

Very interesting……!!!

It may be interesting but it isn’t standard accounting practice. Companies may do whatever they like internally, but would get sued if they tried this with their public filings.

Just curious (and not trying to throw fuel on this), but I believe Adorama is a private S-Corp company, and they don't need to follow GAAP reporting?

While private S corporations are not mandated to adhere to Generally Accepted Accounting Principles (GAAP) for financial reporting, they are still subject to specific tax accounting rules established by the Internal Revenue Service (IRS). These rules are designed to ensure that revenue recognition is consistent, accurate, and not arbitrary.
Under the Internal Revenue Code, particularly Section 446, taxpayers are required to use a consistent accounting method that clearly reflects income. The IRS permits methods such as cash, accrual, or other approved methods, but once a method is chosen, it must be applied consistently. To change an accounting method, a taxpayer must obtain IRS approval, ensuring that income is not manipulated through frequent changes in accounting practices.IRS+3Wikipedia+3IRS+3IRS+1Wikipedia+1
For accrual-method taxpayers, Section 451 outlines the "all-events test," which stipulates that income is recognized when:IRS+3The Tax Adviser+3Wikipedia+3

1. All events have occurred that fix the right to receive the income.
2. The amount can be determined with reasonable accuracy.

This test ensures that income is reported in the correct period, aligning with the economic reality of transactions.
The IRS's emphasis on consistency and clear reflection of income means that S corporations cannot arbitrarily recognize revenue. Even without GAAP compliance, the tax accounting methods must provide a true and accurate representation of income. Failure to comply can result in the IRS mandating a change in accounting methods or imposing penalties.
While private S corporations are not bound by GAAP, they are still required to follow IRS tax accounting rules that govern revenue recognition. These rules are in place to prevent arbitrary financial reporting and ensure that income is accurately and consistently reported for tax purposes.