AyrshireBear79
Well-Known Member
Thanks for the update.I'll be disgusted if we lose Aribo for those figures quoted.
Thanks for the update.I'll be disgusted if we lose Aribo for those figures quoted.
Always hated geography at school. Looks like I should HAVE listened.No, south west England
Just catching up, who are the 2 players?He said he knows 2 players names.
We need more than 2.
Obviously next years accounts will state £6m.
If you're in doubt about the full transfer fee (minus sell-on bonus) we'll receive for Aribo, then it's the following years and then possibly the year after that too, that you want to look at.
Should have listened in English too.Always hated geography at school. Looks like I should of listened.
That doesn't make sense to me. Is that really how it works?If its a guaranteed £10m over time (£6m now and another £4m in future instalments) then the full amount of £10m will be in this years accounts.
If the £4m is dependent on Aribo hitting targets then only the £6m will be in this years accounts.
Depends whether 8m is out of out price range. Not impossibleBongonda out-with our price range?
Depends whether 8m is out of out price range. Not impossible
Where's £8m coming from mateDepends whether 8m is out of out price range. Not impossible
Edit: Misunderstood post.That doesn't make sense to me. Is that really how it works?
The curse has struck, nextJust googled Bongonda as have no idea who he is , someone already has his Wikipedia that he’s signed for us
We spent 7 on Kent?Where's £8m coming from mate
Well it's Wednesday night, he gets to stay up late.According to that 50 year old virgin on twitter, that chugs over graphs in his Maws basement all day .. every one of our players is sh1te and every player we are linked with is also sh1te. Good feeling his real name is Declan otool
Was talking about source for the fee, don't think there is any way we would be spending that kind of money on one player.We spent 7 on Kent?
Who knows but I can’t see him going for 8 anyway, more like 4
I excelled in Biology thanks to your mumShould have listened in English too.
Did you prefer English?Always hated geography at school. Looks like I should of listened.
Yes. That is how it works (USA Certified Public Accountant here).That doesn't make sense to me. Is that really how it works?
Most transfers are done in instalmentsMost transfers are done in instalments.
Release clause needs to be paid upfront.
I think we’ve agreed to instalments in this case, to insert a sell on %age with the club.
I must have misunderstood your initial post then, apologies.Most transfers are done in instalments
I know that.
Release clause needs to be paid upfront.
No it doesn't, if the selling club agree to it otherwise.
I think we’ve agreed to instalments in this case, to insert a sell on %age with the club.
Correct. (You've contradicted yourself)
Sorry mate picked you up wrong, hope we can still be palsWas talking about source for the fee, don't think there is any way we would be spending that kind of money on one player.
I was under the impression he would cost nowhere near that, hence my question.
Just seen him valued around that. Dont believe a word out my mouth as ive no idea just seen that and believed it lolWhere's £8m coming from mate
Did she explain osmosis and Pleurococcus to you?I excelled in Biology thanks to your mum
I find it strange how it can be classed as £10m earned in a single financial year, when only £6m is coming in on the first year and more money incoming in following year(s). The total money won't all be transferred to the bank account in that single financial year so surprised it would be counted in full for one year only.Yes. That is how it works (USA Certified Public Accountant here).
Revenue is only recorded on the Income Statement when it is 100% earned and it has to be recorded in the period that it is earned.
Interesting.Yes. That is how it works (USA Certified Public Accountant here).
Revenue is only recorded on the Income Statement when it is 100% earned and it has to be recorded in the period that it is earned.
sales are recognised in the period in which they occur.I find it strange how it can be classed as £10m earned in a single financial year, when only £6m is coming in on the first year and more money incoming in following year(s). The total money won't all be transferred to the bank account in that single financial year so surprised it would be counted in full for one year only.
Not doubting you, as an accountant obviously. I just find it strange.
One in four goals and one in six assists, matches I mean.Bongonda would be a good buy I think.
His numbers are very good for a LW. 289 games, 67 goals and 51 assists.
And if the player has a strategic plan to see out the contract? Then what?Maybe don't allow his contact to run down to the final 12 months in the first place. It's called strategic planning.
Revenue recognition and cash can be differentI find it strange how it can be classed as £10m earned in a single financial year, when only £6m is coming in on the first year and more money incoming in following year(s). The total money won't all be transferred to the bank account in that single financial year so surprised it would be counted in full for one year only.
Not doubting you, as an accountant obviously. I just find it strange.
No problem budSorry mate picked you up wrong, hope we can still be pals
Yeah I just figured that annual financial accounts was basically money in/money out for any given financial year, with any of the following year installments for a deal made that year, accounted for in the forecast for the following year. That would make sense to me.sales are recognised in the period in which they occur.
the cash can be recognised over a period of time. sales do not equal cash. The sale would be recognised in full within the relevant period.
I find it strange how it can be classed as £10m earned in a single financial year, when only £6m is coming in on the first year and more money incoming in following year(s). The total money won't all be transferred to the bank account in that single financial year so surprised it would be counted in full for one year only.
Not doubting you, as an accountant obviously. I just find it strange.
Should've listened in English as well.Always hated geography at school. Looks like I should of listened.
sales are recognised in the period in which they occur.
the cash can be recognised over a period of time. sales do not equal cash. The sale would be recognised in full within the relevant period.
annual accounts reflect the transactions that took place within that financial year, in full. if we sell Aribo and the amount is 10m, albeit the cash to be paid in instalments, the sale will be recorded in full at 10m in this financial year.Yeah I just figured that annual financial accounts was basically money in/money out for any given financial year, with any of the following year installments for a deal made that year, accounted for in the forecast for the following year. That would make sense to me.
But I'm not an accountant by any means.
YesIs Kent in Portugal?
Okay, cheers for that. I feel like i've basically got a HNC in accountancy now. Might start applying for jobs!If the £10m is earned now (no future contingencies tied to it or doubt on actually earning it) and only £6M is received NOW with future payments in other years, then the entry would be:
Cash £6M DB
Accts Receivable £4m DB
Revenue £10m CR
That is how it would be recorded in the period in which it is earned.
When the money is received, the entry would be
CASH £??? DB
Accounts Receivable £??? CR
_____________
If any of the future money has contingencies attached, the revenue would not be recorded until the contingencies are 100% earned. For example, if there is a £4M contingency payout based on reached a certain number of games or goals, and £6M transfer fee, the entry would be
Cash £6M DB
Revenue £6m CR
Last season it was a goal contribution every 155 minutes which isn’t bad and the season before he had 18 goals and 10 assists from 39 games (goal contribution every 113 minutes)One in four goals and one in six assists, matches I mean.
That’s a low return isn’t it?
I see some trumpet has edited his Wiki page.
That doesn't make sense to me. Is that really how it works?
dont do it. fucking shite.Okay, cheers for that. I feel like i've basically got a HNC in accountancy now. Might start applying for jobs!
There was a tweet flying about saying he'd been left behind while they went on their preseason as he was being sold.Bongonda out-with our price range?
Good we need goals…we have Kent for assistsSo from my mate with corporate tickets at Genk.
Bongonda is a tricky winger. Very good on his day. Not much of team player and scores more than he assists (scores roughly every 3 games and assists less than that)
Hey....it served me well for a number of years.dont do it. fucking shite.
So from my mate with corporate tickets at Genk.
Bongonda is a tricky winger. Very good on his day. Not much of team player and scores more than he assists (scores roughly every 3 games and assists less than that)
still serving me to this day...!Hey....it served me well for a number of years.