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Why would they want to waste their time making a massive post when you'll still think you're right at the end of it anyway?ferrarilover wrote:As amusing as this all is, no one has yet demonstrated, using maths rather than jargon, why my sums are wrong.
Jonny, shouldn't you be 'helping officers with their enquiries' regarding Operation Yewtree?
Matt.
cambgull wrote: Why would they want to waste their time making a massive post when you'll still think you're right at the end of it anyway?
That cheered my Monday right up!! It's because accountancy is a bit like being in the magic circle - information is not shared with outsiders as it could destroy the illusion.ferrarilover wrote:As amusing as this all is, no one has yet demonstrated, using maths rather than jargon, why my sums are wrong.
But we're not paying it off over 50 years, we've paid it in one go (in my example, if not in reality).SteveDeckchair wrote:Matt
650k spend on a new stand, which will last 50 years. Each year, 650 / 50 or 13k will hit your profits.
still think our hundred thousand loss is down to our capital investment?
If you're going to attempt to assume the intellectual high ground, perhaps work on your English.EddUK12 wrote:matt
what are the one off costs you talk about?
more then happy to you an accountancy lession but you might be better off using google before you post on here to understand how things work.
cash is not the same as profit. players can be sold in jan and the cash isnt handed over untill they complete a certain number of games which could be months later by which time cash has been paid out and the club cant pay its bills and goes in to administration even though itis still owed money by another club.
its a crude example of acconting but keeping it simple would help you to start with
for matt, probably not..........exilegull wrote:Matt,
Stevedeckchair doesn't ever say it is paid off over 50 years - he says it will last 50 years.
Assume at the end of 2010/11 the club has £650k in cash. In the year 2011/12 the club uses the cash to build the bench and it is finished at the end of that financial year. So the club has spent £650k, however the balance sheet shows at the end of 2010/11 an asset in the form of cash of 650k and at the end of 2011/12 an asset in the form of a new stand worth £650k. As profit and loss is a reflection of changes in the balance sheet, there is no profit or loss - again despite spending £650k in cash.
Now the stand is due to last 50 years - so at the end of 50 years it will be worth zero. Each year 1/50th of the value will be reduced from the asset on the balance sheet. So at the end of 2012/13 the asset will be worth £637k and the club will record a loss of £13k - despite no cash actually having been spent.
Does that help?
Your quote here shows why you have no wish to actually understand what the issue is. I must therefore assume you are on a wind up.ferrarilover wrote:
But we're not paying it off over 50 years, we've paid it in one go (in my example, if not in reality).
Considering my example is oh-so-stupid, you're all making a right meal of offering an alternative.
I've not once suggested I'm right, I'm sure I'm not, all I ask is that someone explains (using maths, not bullspit terms) what the situation is.
Matt.
exilegull wrote:
It's because accountancy is a bit like being in the magic circle - information is not shared with outsiders as it could destroy the illusion.
Loving the subtitles on that one!forevertufc wrote:If we had an award for most entertaining thread of the year this would win it hands down.
Matt, my tip of the day. I am both part-time employed and part-time self employed, when I need advice on my tax return I talk to an accountant, when my van is not running right I talk to a mechanic, if I need legal advice I would speak to some one like yourself, hope that helps...
I.M.O. this accountancy thread is only half as interesting, informative & entertaining as the Exeter City Forum accountancy thread! ( "the word on Well Street", "Tisdale taking 200k of the budget" )forevertufc wrote:If we had an award for most entertaining thread of the year this would win it hands down.
Matt, my tip of the day. I am both part-time employed and part-time self employed, when I need advice on my tax return I talk to an accountant, when my van is not running right I talk to a mechanic, if I need legal advice I would speak to some one like yourself, hope that helps...
wodger of awabia wrote:
I.M.O. this accountancy thread is only half as interesting, informative & entertaining as the Exeter City Forum accountancy thread! ( "the word on Well Street", "Tisdale taking 200k of the budget" )
It is also only about a quarter of the length!, "do buck up !"
There is also a thread on Rene Howe.......