Enough is enough

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MelbournedeeNovember 3, 2017 at 23:31 EASYJAMBONOVEMBER 3, 2017 at 23:00 The costs …

Comment on Enough is enough by Bogs Dollox.

melbournedeeNovember 3, 2017 at 23:31
EASYJAMBONOVEMBER 3, 2017 at 23:00 The costs of acquiring a player, plus his contract (wages) for the period of his contract, are recorded as “intangible assets”, e.g. if a player is bought for £1.5m, and is paid £500k a year for 3 years, then that player represents an intangible asset of £3m in the accounts (£1.5m + 3 x £500k). ——————————————————————————————————————Easy,
The future wages for the player won’t be included in the intangibles figure, only any “up front costs” that need to be paid to secure the contract, then amortised over the life of the contract or written off when the player leaves the club (e.g. Garner, whose remaining value will need to be charged to next year’s accounts).
The accounts specifically mention agents fees and I would expect sign-on bonuses would also be included.
Wages would be charged to the income statement as earned/paid.
Having been advisor to three football clubs that is also my understanding of the accounting.

The funniest thing I did see was a big dispute over agents fees from one manager where he expected them to pay but they refused and took it out of his dough. Boy was he a grumpy git from that point on.

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Enough is enough
upthehoopsNovember 9, 2017 at 07:19
AULDHEIDNOVEMBER 9, 2017 at 01:24  If a picture paints a thousand words what is this still from Mark Daly’s documentary on tax avoidance saying?
In my opinion it is saying that persons at the BBC (not necessarily Mark Daly), want to link Celtic’s name to tax avoidance even the story is nothing to do with the club.  They stressed often enough there was ‘nothing illegal’ about the story, but never once stressed the football club is not linked to it. The simple fact of life is the picture you show is enough for some people, either through ignorance, bias, or lack of intelligence, to assume Celtic have been caught embroiled in tax avoidance.  It is cheap journalism, and in my view quite sinister as well, but it is a result for those in the Scottish media who are desperate to find some sort of equivalence.  Over the past years we have had spurious and misleading headlines about state aid, and film company tax avoidance, and the BBC has been right there at the head of the queue.  
The more things change, the more they stay the same. 
Stuart Cosgrove was talking to John Beattie on Radio Shortbread earlier today about the “doorstepping” of prominent people during investigative journalistic projects. His view on Daly and Crick was that it is essentially “theatrical journalism” used because it attracts attention, in a visual way, to complex matters where there are large numbers of documents and it is not possible to present those to the viewer in a meaningful way.
He thought most of this approach was inappropriate (he didn’t agree with what Daly did re DD) because it usually ends in chasing people down the street shouting questions at them and adds nothing to the understanding of the viewer other than to create a visual spectacle where the target is seen to be evasive. Its an interesting take that I generally agree with.
Re Broadfoot – he really hasn’t got the right temprement or intellectual wherewithal to do the job he does. He’s way out of his depth with his adverserial approach which is completely counterproductive to the aims of his clients at the SFA. Others have said he shouldn’t be on the BBC because of they way he behaves. I disagree the more people hear from him, the more they grow to understand how useless he is and they start to wonder what all the bluster is designed to deflect from.

Enough is enough
I have yet to speak to a Celtic fan who supports super wealthy people avoiding tax that others have no choice but to pay.  I have also yet to speak to one who doesn’t believe the BBC are casually linking Celtic’s name to dodgy tax avoidance without making it clear the Dermot Desmond story is not linked in any way to the business affairs of the club. They have never shown any concern before as to what the Swiss taxpayer may or may not have lost out on. I only wish they showed the same concern regarding what many inhabitants of their Sportsound studio owe the UK taxpayer through undisputed unlawful tax avoidance. 
They know exactly what they are doing in my view. 

EJ has called it right Re DD. Your point about the BBC not taking the EBT tax dodgers to task is also valid but couched in such a way as to be interpreted as a deflection away from DD’s predicament.

Enough is enough
easyJamboNovember 4, 2017 at 00:47
melbournedee & Bogs Dollox ————————– Well you live and learn, I’ve always understood that the players contracts were included, not just the acquisition costs, as part of the intangible asset.
I guess that it makes sense to treat a player’s wage as being the cost associated with maintaining him as an asset, just like repairing the roof of a stand.
The asset being acquired by paying a transfer fee is the player registration not the player.

Recent Comments by Bogs Dollox

It Is Better To Offer No Excuse Than A Bad One
I’d estimate King’s exposure as between £2m-£4m.
I’d estimate it at 12 months in the pokey.

It Is Better To Offer No Excuse Than A Bad One
Cluster OneDecember 22, 2017 at 21:24
BOGS DOLLOXDECEMBER 22, 2017 at 21:00 There must be institutional investors who would grab the 20p because they need to make some sort of recovery on their initial investment.I bet there are a few individual investors who are a bit cheesed off with Dave. ————– Is there anyone left who may have 1p shares from the start? 19p profit right there
Didn’t the 1 pees later buy in for the same number of shares at a higher value thus making their average price paid much higher?

It’s a no brainer for the non emotionally involved at 20p.

It Is Better To Offer No Excuse Than A Bad One
HomunculusDecember 22, 2017 at 20:42
Just one thing that confuses me.
If people are claiming that the shares are currently trading at 27p, it’s a nonsense but just for the sake of the question.
Do they think that if they double the number of shares available then they will stay at the same price.
It’s a share in a business ffs, surely if there are more of them issued then each one is worth less (or worthless in this case).
So let’s say here’s the scenario. You have shares in a business worth say 14p each. The business is making losses, every year. It’s £16m in debt, and admitting it’s going to lose more this year, and next. Predictions are of the business being £23m in debt, at least. It’s also a toxic brand, operating in a field (pardon the pun) which traditionally does not make money.
Someone comes along and offers you 20p for your shares, no questions asked, no haggling, a straight 20p a share.
You knock this back … really. 
There must be institutional investors who would grab the 20p because they need to make some sort of recovery on their initial investment.
I bet there are a few individual investors who are a bit cheesed off with Dave.

It Is Better To Offer No Excuse Than A Bad One
essexbeancounterDecember 22, 2017 at 20:28
Bogs Dollox StevieBCDecember 22, 2017 at 18:29Guess that the CoS result could /should trigger a couple of events in the short-term;– King resigns from RIFC & – the auditors Campbell Dallas ‘do walking away’ ?You would think…?  +++++++++++++++++++++++++++++++++++++Their reputation is on the line. I would think ICAS practice regulation are keeping a close watch on this one._______________________________________________________ ICAS Practice Regulation only get upset when recalcitrant, (no, not “concomitant”) members, like me, fail to return meaningless checklists or forms in time. Please believe me…I have “got form” in this area…. Only when a serious complaint from “members of the public” is received, would any notice be taken…and minimum action result… Please remember, that ICAS members, at least 20 in number, have been involved in this whole RFC/MIH/TRFC/TRIFC omnishambles over the last 20 years or so….and….yup…a big fat zilch from the “public”… I rest my case….
Is it possible to complain anonymously? Or is it necessary to leave the country soon after complaining about “accounting concerns” ?

It Is Better To Offer No Excuse Than A Bad One
Cluster OneDecember 22, 2017 at 20:18
SANNOFFYMESSSOITIZZDECEMBER 22, 2017 at 18:42 2 0 Rate This https://philmacgiollabhain.ie/2017/12/22/sevco-prepares-for-a-post-king-scenario/ ——————– Wow! they want the ex -city trader to be understanding about his severance claim. ————- Mr king has already stated this matter had been delt with.Or was this glib and shamless lier not telling the truth once again
This is like fending of HMRC in the days when 1872 was a club.

Back then the chat to the HMRC was “Look guys can you hold off for a bit from chasing the Wee Tax Case liability because new owners have taken over and we need some time to sort it all out – youse will get your doh!”
I recall the Daily Record often insisted Mark Warburton was a really smart guy.

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