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| Quote ="Mrs Barista"Why are you asking me?
For someone so keenly versed in business and finance I'm amazed the accruals concept has passed you by.'"
So basically you don't know with respect to Manu and are guessing
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| Quote ="Doom&Gloom Merchant"icon_lol.gif
'"
DAB...bingo, you really are an obvious waste of server space
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| Quote ="Mrs Barista"Deary me. What sort of accounts wouldn't "mention called up share capital"? Of course there are loans, but there's no detail. The crystallisation of the liability re Manu's EBT is ambiguous, but appears potentially to straddle the 2014 year end. As for Sneyd, the accounts are clear that the fee is amortised over the life of his contract.'"
I didnt mention Sneyd, as generally in puffball and RL fees are run over contracts.
Anyway
My post assumed there would be no detail in the accounts, thank you for confirming that, its all i simply asked, no need to jump up and down.
My point about the EBT
AP has presided over 2 years of non payments, that were probably in the accounts as paid
Plenty on here jumping up and down wanting "forensic audits" of the SMC accounts,
i hope ours are clean........
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Club Coach | 29802 | No Team Selected |
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| Quote ="knockersbumpMKII"So basically you don't know with respect to Manu and are guessing
'"
The question was whether Manu's payout, reported as £200k, was included in the £74k loss. Given it accrued over several years I expect it would have been reflected over a longer period in the accounts. You were challenging the principle. Cash accounting isn't really on trend in the UK. Policy of amortisation on Sneyd's fee is explicit.
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| Quote ="frepneyboy"I didnt mention Sneyd, as generally in puffball and RL fees are run over contracts.
Anyway
My post assumed there would be no detail in the accounts, thank you for confirming that, its all i simply asked, no need to jump up and down.
My point about the EBT
AP has presided over 2 years of non payments, [uthat were probably in the accounts as paid[/u
Plenty on here jumping up and down wanting "forensic audits" of the SMC accounts,
i hope ours are clean........'"
I don't get what you mean. If there's a liability created, it hits the P&L and you either pay it out in cash or create a provision in the balance sheet.
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| Quote ="Mrs Barista"I don't get what you mean. If there's a liability created, it hits the P&L and you either pay it out in cash or create a provision in the balance sheet.'"
Lets talk laymens terms for the viewers benefit.
Say Manu did 5 years here, each year £40k went into the pot, so every year the accounts show £40k paid to the pot.
The money never went
So for 5 years accounts this payment was never made. Where did the £200k go?
And as AP has now had to pay the full £200k, he'll stump that in personally, still doesnt say what happened to the £200k that "had been paid" but infact never was.
Follow the cash.......
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| Quote ="frepneyboy"Lets talk laymens terms for the viewers benefit.
Say Manu did 5 years here, each year £40k went into the pot, so every year the accounts show £40k paid to the pot.
The money never went
So for 5 years accounts this payment was never made. Where did the £200k go?
And as AP has now had to pay the full £200k, he'll stump that in personally, still doesnt say what happened to the £200k that "had been paid" but infact never was.
Follow the cash.......'"
Years 1-5 Debit P&L, Credit Provisions in the balance sheet, no impact on cash.
Payment - Debit Provisions, Credit either cash or loans.
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| Quote ="frepneyboy"Lets talk laymens terms for the viewers benefit.
Say Manu did 5 years here, each year £40k went into the pot, so every year the accounts show £40k paid to the pot.
The money never went
So for 5 years accounts this payment was never made. Where did the £200k go?
And as AP has now had to pay the full £200k, he'll stump that in personally, still doesnt say what happened to the £200k that "had been paid" but infact never was.
Follow the cash.......'"
You're not an accountant then?
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| Quote ="Jake the Peg"You're not an accountant then?'"
What do you do for a toil?
I dont need to be an accountant to ask Barista a question, and she doesnt need to be an accountant to answer it.
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| Quote ="frepneyboy"What do you do for a toil?
I dont need to be an accountant to ask Barista a question, and she doesnt need to be an accountant to answer it.'"
No, but you pretend you know what you're talking about when you clearly don't
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| Quote ="Jake the Peg"No, but you pretend you know what you're talking about when you clearly don't'"
Dab
And your contribution to the debate is?
I dont profess to know this or that, i dont squawk about what i do or dont know. I only asked a question
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| Lots of dabbing going on by Bumby & Freppers, our resident financial experts.
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| Quote ="frepneyboy"Dab
And your contribution to the debate is?
I dont profess to know this or that, i dont squawk about what i do or dont know. I only asked a question'"
Really? Have the players been paid this month?
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| Quote ="Jake the Peg"Really? Have the players been paid this month?'"
Ask 1865 easthullfc
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| Quote ="frepneyboy"Ask 1865 easthullfc'"
I'm asking you as you seem to be the only one posting on the subject
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| Quote ="Jake the Peg"I'm asking you as you seem to be the only one posting on the subject'"
As i understand it, this thread isnt about players being paid on time, its about the accounts
But seen as you asked, someone posted on here the players got paid 5 days late ater the Udders home game.
I've since been told by a different source this to be correct.
Have you joined Baristas playground gang or summat?
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| Quote ="frepneyboy"As i understand it, this thread isnt about players being paid on time, its about the accounts
But seen as you asked, someone posted on here the players got paid 5 days late ater the Udders home game.
I've since been told by a different source this to be correct.
Have you joined Baristas playground gang or summat?'"
No, coffee woman stays away from me as she's always wrong when she disagrees. You're the only one I've ever seen post about late payments so maybe you can point me in the direction of the poster who broke this news?
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| So, in a nutshell, were 74k in the red for 2014/2015.... lets end it there, bacause all these accountants on here summising are getting right on my tits...... unless you work for fc, or sadofskys, id take all opinions with a pinch of salt if im honest....
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| Quote ="berro's best mate"So, in a nutshell, were 74k in the red for 2014/2015.... lets end it there, bacause all these accountants on here summising are getting right on my tits...... unless you work for fc, or sadofskys, id take all opinions with a pinch of salt if im honest....'"
And we'll just ignore yours. There, we're all happy now.
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| Quote ="Hessle Roader"And we'll just ignore yours. There, we're all happy now.'"
Since when was you the voice of the nation? Id like to think everyone on here has a level of opinion, to choose there own, they dont need a dictator to choose there opinions for them.... just a thought
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| Quote ="berro's best mate"Since when was you the voice of the nation? Id like to think everyone on here has a level of opinion, to choose there own, they dont need a dictator to choose there opinions for them.... just a thought'"
Coming from you, that's rich.
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| Quote ="Hessle Roader"Coming from you, that's rich.'"
Who's rich, dont know him....
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| Serious question ... What's dabbing mean ?
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| Quote ="Legends and Icons"Serious question ... What's dabbing mean ?'"
It's when your seeing a berd, but you want to keep it casual, nowt serious - that's dabbing.
"Gettin serious bruv, she'll be moving in next"
"Nah mate, just dabbing"
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| Quote ="Barnabus"It's when your seeing a berd, but you want to keep it casual, nowt serious - that's dabbing.
"Gettin serious bruv, she'll be moving in next"
"Nah mate, just dabbing"'"
Cheers mate
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