Charles Green – What Will Football’s Authorities Do?

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Charlie Brown says: September 19, 2012 at 18:10 Essex beancounter says: September …

Comment on Charles Green – What Will Football’s Authorities Do? by essexbeancounter.

Charlie Brown says:

September 19, 2012 at 18:10

Essex beancounter says:
September 19, 2012 at 17:52
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precisely the reason why the football authorities should mandate a uniform & simplified standard set of accounting information that all clubs should and must provide concerning their operating income and expenditure, liabilities and cash-flow so that all clubs can be compared on a like for like comparison and to ensure that clubs can be evaluated to see if they are operating within key metrics like % of wages / income etc. The English Football League have implemented a set of budgetary and financial information clubs must provide and in future will refuse to accept player registrations if clubs are failing to achieve agreed parameters or would do so by agreeing contracts or future liabilities that would push them outwith safe / agreed limits.
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Charlie…your ideas and sentiments are admirable and I am aware of the English FA “regulations” re financial information.

However, who will act as the “referee” in cases of dispute(s)? THe existing firms of accountants/auditors?

We have already seen the banking crisis of 2008 in which banks failed or nearly failed, a few days after receiving a clean audit report from the so called “independent auditors”.

However, I do think it is worthwhile pushing for a standard set of accounts and related information “across the board”, particularly with football clubs. There is unfortunately a big mountain to climb before such “standardisation” is accepted.

essexbeancounter Also Commented

Charles Green – What Will Football’s Authorities Do?
jocky bhoy says:

September 19, 2012 at 16:15

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OK – one for the beacounters (not just Essex btw):
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JB…no need for any tin hat as far as I am concerned.

I do commend your efforts and understanding the accounting treatment involved here and credit to Paul67 for “spreading the word” in words of one syllable which both the MSM (no laughing at the back!) and I can understand.

I would however, point out two areas of possible confusion arising from the accounting information put into the public domain by all club/corporate entities, as well as Celtic:

1) The “accounting policy” adopted by the Club(s) must be publicly stated and be consistent with that adopted by other clubs, otherwise cross-club comparison is impossible.

2) The tax treatment of the policies in question must also be consistent with HMRC accepted practices as regards the definition of trading income/expenditure (please no one even mention EBTs!) as opposed to capital expenditure.

I must assume that Celtic would adopt a conservative and acceptable approach to this area, after all their boards are well populated by accountants.

However, within the limits of commercial and accounting common sense, a club may adopt any policy it likes, as long as it accounts correctly for the tax treatment…now where have I heard that little nugget before…?

I hope my paltry post helps.


Charles Green – What Will Football’s Authorities Do?
Judging from the initial rection to “Downfall” by PMG, it would certainly appear that followers of the Ibrox/Sevco franchise still do not want to be acquainted with the cold true facts of the financial scandal which has engulfed RFC(IA) and its followers/supporters.

I would contend the main reasons are:

1) “Downfall” has been written by PMG, a journalist (not a churnalist or presstitute!)
2) Scottish MSM simply cannot swallow what is left of its pride and admit they were way behind all the time since they were choking on “succulent lamb” and drowning in “the finest red”…in the Channel Islands, chez (-S)DM
3) Scottish MSM could not run with the truth since most of their hard copy sales are to fans of RFC(IA) and profits would slump
4) No one in Scotland “REALLY” believed that the establishment side would in fact go into administration/liquidation (John Clarke alluded to this but was slightly misunderstood, I think!)

I am left with one question, that, taking into account that the “non-believers” would not accept the truth from Alex Thomson or PMG….how would they have accepted the story had it been reported by John Rafferty/Ian Archer/Cyril Horne, assuming the ediorial line would have allowed it?…or is that latter aspect the real underlying qustion?


Charles Green – What Will Football’s Authorities Do?
Lord Wobbly says:
September 18, 2012 at 19:55
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Eastern ex-pat says:
September 18, 2012 at 19:00
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Even wih the range of information coming out today I am fairly confident that our papers will focus on the headline figure of a £7m loss at Celtic.
The diligent (no laughing at the back) hack may see the statement from the chairman of ‘debt free’ The Rangers highlighting the need to put any funds raised to paying off debt as warranting further investigation?
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While Celtic continue to struggle on all fronts, not least financially, Rangers are about to embark on a share issue which is set to send the Govan Giants over the top.
Celtic fans have joked about a succession of Rangers chairmen ranting uncontrollably as all around them fails but, all the while, Charles Green has been plotting a Rangers revolution from his Ibrox bunker.
Phil Mac Giolla Bhain recently wrote a much maligned book charting the downfall of Rangers, the release of which now seems extraordinarily premature. Perhaps he should consider writing a sequal, perhaps entitled The Upsurge – How Rangers Single-Handedly Saved Scottish Football.
By Keith ‘Sports Journalist of the Year’ Jackson Oct 2012

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LW…had this post not come from your known and trusted hand, I would have called your integrity into account and some…!

Would you please be good enough to post a link to this drivel…I am tempted to write to this clown!

Thank you in anticipation..

EB

Ps thanks also to Eatern ex-pat for the original “heads-up” post!

PPs I have already posted that I found “Downfall” a reasonable read, but short on original disclosure. I did however emphasise that all of his material or significant “revelations” have been shown to be accurate. So what is not to like by Jackson and his cronies…the truth?


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