Recent content by AnAspiringAccountant

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    UK EFL Amortisation Appeal- EFL vs Derby (again)!

    Forgot to add, you might be interested in this one @Fidget . Hope you are well.
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    UK EFL Amortisation Appeal- EFL vs Derby (again)!

    Long story short, the EFL and Derby County are in and have been in a dispute for some time and this is unusual- they Account for Player Registration Amortisation using Residual Values as opposed to what seems to be the UK football Industry Standard of Straight Line- ie Transfer...
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    UK "Making the Financial Statements look better" UK Law

    Hi @Fidget Hope you are well. Wrong accounting period, but deliberate backdating dismissed is absolutely what happened. I actually got Kieran Maguire's first edition when it came out and will be looking at getting the 2nd one too. Some of it was incredible- Shaun Harvey seemed to be actively...
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    UK Loans and Profit and Loss- Charges basically

    If I borrow against a fixed asset, should or indeed would that be likely to go into the P&L? In the UK, under FRS 102 I mean. Loans tend not to, tend to help the Balance Sheet and perhaps Cash Flow but if it is secured against a fixed asset or a set of fixed assets or companies, does this boost...
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    UK "Making the Financial Statements look better" UK Law

    To make the financial statements of a company look better- when does this cross the line into Practices that run the risk of erroneous accounting at best? Interesting q in this day and age IMO- and the company is run by a private individual so no loss potentially but... In particular, note...
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    UK Technical query- what constitutes a post balance sheet event?

    Hi @Fidget Hope you are well. 1) Apparently Sheffield Wednesday choosing to do the stadium thing but not executing it in time was deemed a factor of such mitigation, this was post appeal, to halve the deduction- unbelievable! 2) Derby were found innocent of both the Stadium valuation plus the...
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    UK Technical query- what constitutes a post balance sheet event?

    Hi @Fidget Hope you are well- some more updates and hope you are still keeping well and safe. 1) Sheffield Wednesday deducted TWELVE points- to take effect in 2020-21 season- there is some fury among clubs that the points have not been docked in the season in which they were charged- 2019/20...
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    UK Do Loans count as profit?

    Ah yeah, was going to post a bit about FFP- depreciation adjustment eh? Interesting! The gain on disposal was £36m or thereabouts. Sadly my print screen doesn't allow me to post it as before- is this in terms of profit on disposal when it's paid for in the form of other loans? The cash basis...
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    UK Technical query- what constitutes a post balance sheet event?

    Hi @Fidget A couple of updates you might be interested in. Hope you are keeping well and safe in these extraordinary times. Update 1. The charges against Chansiri, Meire and Redgate were dropped by the EFL. Update 2. Derby were charged in January- the Pride Park valuation (see my first thread...
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    UK Do Loans count as profit?

    Just seen this and checking in. Thank you. Gains and Losses on disposal go through the P&L. Non-cash item, depreciation adjustment? Read elsewhere that it is in the form of loans, or indeed offsetting. Given that Depreciation is excluded under FFP, ie if you have say £2m on depreciation in...
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    UK Do Loans count as profit?

    Aah think I'm getting there? Accruals- though being in the form of Loans seems an odd method of payment?
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    UK Do Loans count as profit?

    Asset sale and leaseback and recognition as profit. Essentially, in 2019, a company sold their fixed asset to a commonly owned company for £56.7m. What I found interesting was that it was classified under "Debtors" and the category was "Other Loans". Unsure where the other £5m arises though...
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    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    Those said attachments. I have my scepticism as to whether FFP should just clear this.
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    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    Well their accounts are out. Couple of interesting notes on the ground thing. £56.7m price paid- yet all under "Other Loans Receivable"- banked the profit last season though in the P&L. How they came to that price and profit is also curious. Will post some attachments later.
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    UK Impairment under FRS 102- effect on value of fixed tangible assets?

    Football appears to be a bit of a treasure trove for interesting accounting practices! My posts aside, it's an interesting research area subject IMO. Nonetheless I do believe that if the Impairments, the valuations, the swings in value or the profit cannot be justified in accounting and...
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