Recent content by AnAspiringAccountant

  1. A

    UK Technical query- what constitutes a post balance sheet event?

    Yeah, quite possibly. It's worth stressing that they are still confident about their case. The last CEO...ha what can I say about him without running into possible issues.
  2. A

    UK Technical query- what constitutes a post balance sheet event?

    https://www.swfc.co.uk/news/2019/december/club-statement/ Stakes raised!! Were it down to my mate who is an ardent Bristol City fan, they'd think about looking at scope for suspension here- suspension of membership. Still though, things are definitely getting very interesting. The reaction...
  3. A

    UK Technical query- what constitutes a post balance sheet event?

    They are- not seen his latest ones yet, but it looks like things have escalated somewhat... https://www.telegraph.co.uk/football/2019/12/02/exclusive-sheffield-wednesday-chairman-could-banned-football/
  4. A

    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    Thank you- will link to the accounts now. The name has changed a lot in the last few years so maybe tricky to keep up with it- I know I found it a bit! ;) How far back do you want to go with it? Regardless, it's the accounts from 2016...
  5. A

    UK Technical query- what constitutes a post balance sheet event?

    BOOM!! It would appear that there is a case to answer- for Sheffield Wednesday at this stage. Note- this relates to the Reporting period vs transaction date. The question of whether the ground was overvalued is either moot or still being investigated along with Derby, Reading, Sheffield...
  6. A

    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    Thanks for that- I'll get onto that later- but an important update to another thread to make first.
  7. A

    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    This one will probably be nice and easy for the experienced accountants on here- I however am not one. ;) If an asset impaired- say a football stadium, and I've touched upon this elsewhere but it intrigues me, but impaired on relegation and a takeover- does that broadly reflect the fair market...
  8. A

    UK Technical query- what constitutes a post balance sheet event?

    Thanks for that- it puts my mind at rest. The investigation continues. https://www.telegraph.co.uk/football/2019/10/16/efl-step-investigation-derby-sheffield-wednesday-reading-stadium/
  9. A

    UK Technical query- what constitutes a post balance sheet event?

    Yeah, I noticed that. Thanks. Puzzling because- well accounting rules can be so creative can't they that you can bank £60m (well around a £38m profit) in one year yet it shows on the cash flow as 8 years or £7.5m in that season and £52.5m subsequently! My concern there is that they benefit...
  10. A

    UK Technical query- what constitutes a post balance sheet event?

    Thank you, this clears a few things up. So if I am understanding this right, what you're saying is that if the contract was in place/drawn up by July 31, then all okay? The date of the contract, when it was drawn up, with obligation/provision to buy sounds like it's pretty important here! I am...
  11. A

    UK Technical query- what constitutes a post balance sheet event?

    Really, I suppose my main point is which regulation allows for this, I've looked at them and it seems tricky. Post Balance Sheet? Mike McCarthy of BBC Sheffield who stated that it was a Post Balance Sheet Event couldn't or wouldn't elaborate when a Twitter user asked them to do so and state...
  12. A

    UK Technical query- what constitutes a post balance sheet event?

    Thanks. So between May 31st 2018- latterly July 31st 2018- and June 20th/June 21st 2019 then, in this instance? I'd say it was an adjusting event- £38m profit on transaction, turned a major loss into a profit of £2.5m! Is a £38m profit on a fixed asset sale and leaseback considered material...
  13. A

    UK Technical query- what constitutes a post balance sheet event?

    Hi. Currently doing some research for purely interest but also as I have an interest in accounting and what better place to come than an Accounts forum! Yet I am looking at accounting as I'm alright with numbers. Already touched upon it elsewhere on the forum but this is quite specialised...
  14. A

    UK FRS 102 RPTs- Sale and leaseback of Football Grounds

    What do we think then- are these all on point do we think, these valuations? To edit and update my first post, Sheffield Wednesday one was for £60m- which sounds reasonable maybe but then again in 2014 it was revalued at drc. £22.25m, as of 31st May 2017 ie their Reporting Period until then the...
  15. A

    UK Test- Where did my thread go?

    Thanks- still finding my way round the forum! Dunno where it briefly went, doesn't really matter.
Top