Quote from: Risso on February 27, 2017, 08:10:32 PMQuote from: Ad@m on February 27, 2017, 07:35:45 PMQuote from: Risso on February 27, 2017, 07:22:49 PMQuote from: CT Villan on February 27, 2017, 07:09:49 PMQuote from: Risso on February 27, 2017, 07:04:28 PMSorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts. So what would be asset on the balance sheet to offset the player's liabilities, ie. contract, signing-on fee, etcNothing. Signing on fees are a P&L expense.Not so.Per the 2015 accounts 'the costs associated with the acquisition of players' registrations are capitalised as an intangible fixed asset at the date of acquisition'. Whilst it's not explicit I think it's safe to say this would include all incremental costs associated with the acquisition of player registrations, including signing on fees.Indeed so. That's the actual cost of the player that gets capitalised. The note about players' signing on fees and loyalty fees gives a bit of a clue as how they're accounted for, if you're struggling, i.e. "Signing on fees payable to players.....are recognised in operating expenses as incurred." Deary me, with comments like that it's no wonder you make friends so well around here.The bit you conveniently missed out of that section relates to loyalty fees and what happens when players are sold midway through a contract. If you read the whole note it's pretty clear signing on fees aren't always "incurred" at the start of the contract.
Quote from: Ad@m on February 27, 2017, 07:35:45 PMQuote from: Risso on February 27, 2017, 07:22:49 PMQuote from: CT Villan on February 27, 2017, 07:09:49 PMQuote from: Risso on February 27, 2017, 07:04:28 PMSorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts. So what would be asset on the balance sheet to offset the player's liabilities, ie. contract, signing-on fee, etcNothing. Signing on fees are a P&L expense.Not so.Per the 2015 accounts 'the costs associated with the acquisition of players' registrations are capitalised as an intangible fixed asset at the date of acquisition'. Whilst it's not explicit I think it's safe to say this would include all incremental costs associated with the acquisition of player registrations, including signing on fees.Indeed so. That's the actual cost of the player that gets capitalised. The note about players' signing on fees and loyalty fees gives a bit of a clue as how they're accounted for, if you're struggling, i.e. "Signing on fees payable to players.....are recognised in operating expenses as incurred."
Quote from: Risso on February 27, 2017, 07:22:49 PMQuote from: CT Villan on February 27, 2017, 07:09:49 PMQuote from: Risso on February 27, 2017, 07:04:28 PMSorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts. So what would be asset on the balance sheet to offset the player's liabilities, ie. contract, signing-on fee, etcNothing. Signing on fees are a P&L expense.Not so.Per the 2015 accounts 'the costs associated with the acquisition of players' registrations are capitalised as an intangible fixed asset at the date of acquisition'. Whilst it's not explicit I think it's safe to say this would include all incremental costs associated with the acquisition of player registrations, including signing on fees.
Quote from: CT Villan on February 27, 2017, 07:09:49 PMQuote from: Risso on February 27, 2017, 07:04:28 PMSorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts. So what would be asset on the balance sheet to offset the player's liabilities, ie. contract, signing-on fee, etcNothing. Signing on fees are a P&L expense.
Quote from: Risso on February 27, 2017, 07:04:28 PMSorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts. So what would be asset on the balance sheet to offset the player's liabilities, ie. contract, signing-on fee, etc
Sorry, that's not right. If you sign a player on a free, then the value on the balance sheet is £nil. Same with kids that come through the academy. Whatever you get in insurance has nothing to do with their value in the accounts.
Quote from: brian green on February 27, 2017, 08:22:16 PMI like the way this thread is going.Two accountants fighting. It's even more fascinating than the Newcastle pre-match thread.
I like the way this thread is going.
When you move to Ely dear boy, you will be Sexual Ely. I do hope you come, the Fens do so need men in green visors.
Quote from: Richard E on February 27, 2017, 08:37:23 PMQuote from: brian green on February 27, 2017, 08:22:16 PMI like the way this thread is going.Two accountants fighting. It's even more fascinating than the Newcastle pre-match thread.An Internet slanging match is a bit unedifying though, I'd think pistols at dawn would be more appropriate for the professions?
Yes, ideally involving the words 'I shall revert in due course'. Or is it just you solicitors that are allowed to use that?
Quote from: PeterWithe on February 27, 2017, 09:09:46 PMQuote from: Richard E on February 27, 2017, 08:37:23 PMQuote from: brian green on February 27, 2017, 08:22:16 PMI like the way this thread is going.Two accountants fighting. It's even more fascinating than the Newcastle pre-match thread.An Internet slanging match is a bit unedifying though, I'd think pistols at dawn would be more appropriate for the professions? That or an exchange of tersely worded emails.
YESSSSSSSSSSSS! I'm going to buy a green viser and some of those elbow shirt clips. I've instructed my agent to get me a move to Guernsey. I appreciate your interest, Risso, and good luck for the rest of the season.
Don't Accountants ( including Chartered ) communicate in Excel spreadsheets ? ( Or - given our current sponsors - Quick Books )
Quote from: Sexual Ealing on February 27, 2017, 07:57:54 PMYESSSSSSSSSSSS! I'm going to buy a green viser and some of those elbow shirt clips. I've instructed my agent to get me a move to Guernsey. I appreciate your interest, Risso, and good luck for the rest of the season.SE before you disappear to shores richer can you use your new found expertise to help me understand Anglian Windows discount policy?
Please donate to help towards the costs of keeping this site going. Thank You.
Author
Topic: The Long Awaited Accounts.... (Read 128331 times)
