You are clearly afraid.
Very afraid.

I'm not against expansion, and as said I think Catalans is fantastic. If London's gates remain at 3kish after say 60 years and another assortment of people trying losing money on it, do we still continue? I just think the importance to Sky of London in the competition with embarrassingly low attendances is overstated. If without London there is no Sky money, then clearly it's something that needs to be continued otherwise there is no sport, but using the criteria of the last round of franchises they must be borderline.

TBH i'm not interested in where they are posted to in the accounts i just want to know why they bother doing it at all if it means nothing.

It can also help boost a company's credit rating

I wouldn't have thought the playing staff of any club had a residual value, it's not like football where transfer fees are the norm. In RL there are very few players who actually move for a transfer fee.

In a way the playing staff should be classed as a business liability as if a club gets to the point where it would need to cash in this asset it would more than likely just let the player go just to get the wage bill down.

Oh dear.

That’s not completely correct though is it Mrs Barista?!

There are instances within IFRS when the revaluation gain / loss goes directly through the Income Statement. For instance if a revaluation increase is reversing a previous impairment that went through the P&L.

Since the treatment of including players valuations on the balance sheet is not correct treatment in the accounts – who are we to say what is happening to any revaluation surplus or deficit anyway? That equally could be treated in a way that would best suit the ‘look’ of the accounts.

All I would say is while the clubs accounts are being qualified by the auditors it is best to take the profit figure with a pinch of salt, unless of course you get hold of a copy and can scrutinise the figures behind the profit.

If only Vince was here to sort this mess out for us.

Did you ring them ?

I don't know, Chillibeano seems to be sorting out Mrs Barista's inaccurasies

Good thread this. Any chance, GML, of merging this with something on www.accountantsarenotdull.com ?

Good thread this. Any chance, GML, of merging this with something on www.accountantsarenotdull.com ?

Rubbish. Why not download the accounts? You can see that the valuations impact the balance sheet only.

Fixed assets. 280,000 (within tangible fixed asset note in accounts to 2007)
Intangibles (player valuations) 942,500
Total. 1,222,500 Assets in balance sheet November 2008

Revaluation reserve 1,222,500 in balance sheet November 2008

Perhaps you can articulate the p&l impacts of these equal and opposite balance sheet items?

No problem with that Mrs B. Like I said, I've not checked the figures myself but if thats what you say they are fair enough.

The point still stands - and to be honest you have helped prove it - that with any accounts, you need to understand what is behind the headline figures in order to fully understand them.

Now then, I'm off to empty this keepnet. It's rather full.

Not good reading for us but its not hard to see where FC made a profit when you consider the quality of their squad over the last two years!

Maybe we should aim to finish near the bottom and save a few hundered grand in salaries?

nah, it'd be a lot easier to cheat the salary cap, play players against weaker sides that shouldn't be playing, get to wembley, lose (again) and be proud of your heritage. Then bank the receipts & stick 2 fingers up at the RFL.

Don't forget winning the cup and getting to the grand final
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That your plan isnt it hense your star player recruitment to date?

I think that is your aim looking at your recruitment for next year

I do hope Rovers comply with the rules when submitting their accounts. Apparently one club went against their accountants advice and included players transfer values as a tangible fixed asset. Not doing this would have reduced their fixed assets and reduce their capital and assests by £780,000.

Plain cheating or cooking the books ?

Surely one employs accountants and follow the rules.

I assume this club has been fined every year for the last 4 years then?

They don't. They're late year after year.

That did occur to me, although I would have thought that the qualification recorded against the accounts every year by the auditors would mitigate against that.

Remind us all which club has been fined for not following the rules and which hasn't.