The Agenda (Merged)

[Prestwich_Blue]

Under normal accounting procedures:

Timing of payment is usually not a factor in deciding when the purchase that it is associated gets recorded in the books of account as an asset or expense.

If part of a fee is contingent on something that has not happened yet, it is not normally be deemed a liability until the contingent event actually - if ever - occurs and therefore there is no asset or expense to record.

So let's say we agree a fee for Bony which is structured so we pay a guaranteed £15m, with a contingency of up to £10m extra payable in 2015/16 and up to £5m in 2016/17 based on achieving certain targets.

I take it that we'd book the £15m right away, together with a contingent liability (and presumably a creditor?) of £15m. So the transfer spend reported is £15m. Then any payments that were called off in those two years are added to the value of the contract and reduce the liabilty. Is that correct?

You are correct that we would record the £15m as an asset at the outset and that would appear in the balance sheet and be amortised to the income statement over the contact term.

The contingent liablity would be recorded as a note to the financial statements but no asset or liability is recorded in the accounting records. The note in the published accounts would be adjusted according to the circumstances prevailing at the balance sheet date.

If one of the contingent events occurs, the cost would be recorded in the books of account at that point by debiting "cost of player registrations" and crediting "trade creditors".

Contingent liabilities are not recognised as accounting entries.

Thanks, as ever. I couldn't work out the double entry for the contingent liability but as you've said, there isn't any.

 

[Blue Beard]

Morinho : "There is a campaign against Chelsea. I don't know why there is this campaign and I do not care.

So there we have it, the man understands what a campaign is, and he has played his part in the anti-city campaign.
We do know why there is a campaign against us, lead by David Gill & Co and also supported by Chelsea, Arsenal and Liverpool.
Our continued progress is even more astonishing in the face of those who have tried to stop us in our tracks.
Good for you Manseur, blue moon still rising

FFP is a disgraceful stitch up, aimed at slowing us down so they can catch up. And one day the truth will come out

 

[Bill]

Morinho : "There is a campaign against Chelsea. I don't know why there is this campaign and I do not care.

So there we have it, the man understands what a campaign is, and he has played his part in the anti-city campaign.
We do know why there is a campaign against us, lead by David Gill & Co and also supported by Chelsea, Arsenal and Liverpool.
Our continued progress is even more astonishing in the face of those who have tried to stop us in our tracks.
Good for you Manseur, blue moon still rising

FFP is a disgraceful stitch up, aimed at slowing us down so they can catch up. And one day the truth will come out

on the money.

 

[SilverFox2]

You infer as you please
It's just that it is usually at odds with most City fans

I think I agree with you there SF.

However, do we as City fans ,have our own Agenda that seeks to criticise everything that is not 100% pro City ?.

no we don't. we don't want bias either for or against us. a lot to ask a journo but just tell the fucking truth.

I suggest you do not read newspapers then because they all deliberately sell their wares in a way that distorts the truth to sell papers, its the way they generate their profits by pandering to the needs of their mainstream potential customers.
Telling the news as it is will reduce their sales which is likely to cause a change of editor sooner rather than later.

 

[Ricster]

Maureen down at Chelsea now playing the game.
We need our manager to take a few examples and at the next pre/post match presser, go over some of the articles we've been quoted in and name and shame those wankers in front of everyone else, speak minimally about the game, don't answer questions, shoot both barrels at the journo's, and finish in Mike Bassett style, "City will play 4-4 -fucking-2
That should give them something to write about

 

[prestonibbo_mcfc]

Simon Mullock's sub-editor is a disrespectful motherfucker.

Any chance you could keep a list of all the disrespectful motherfuckers?

It's an ever-evolving, moveable feast.

Maybe a venn diagram of disrespectful motherfuckers and small time cunts.
It would be interesting to see any correlation ;-)

 

[BlueRockape]

You infer as you please
It's just that it is usually at odds with most City fans

I think I agree with you there SF.

However, do we as City fans ,have our own Agenda that seeks to criticise everything that is not 100% pro City ?.

All most of us want (I would say) is fair and balanced reporting on our club. No reasonable person supporting any club could expect that club to be immune from criticism. Furthermore, no City fan I know wants the levels of fawning the media display toward united and Liverpool to be replicated when reporting on City.

The reason that posters are so tetchy is because there is a constant, prevailing background noise of inequitable reporting on our club. It isnt everywhere, but it's ubiquitous enough to create a discernible nuisance at the very least. It is perfectly natural to react robustly when something you care about is denigrated unfairly. This thread is a manifestation of that urge.

Any blue who cannot see the utter disparity in how we are reported on, compared to united and Liverpool in particular, has got serious Uncle Tom syndrome issues imo. Whether that impacts upon the standing of the club in any meaningful way, and to what extent, is entirely another debate, however. I would say to a limited extent.

As long as there are disrespectful motherfuckers running our club down I (and others, I would expect) reserve the right to point their failings out, not only in terms of their reporting on City, but also more generally. The fact that their journalistic shortcomings make this a relatively easy task perhaps goes some way to explaining the volume of content in this thread.

This.
Great post blue

 

[schfc6]

Apparently Everton going into our game with a huge injury list according to SSN, missing wait for it Hibbut, Pienaar, Gibson. Have they played more than 5 games between them in 2 years? Granted Howard, Distan and McCathey are out, hardly Kompany, Aguero and Toure..

 

[willipp]

Well for once SSN were left with zero wiggle room to slag us off around FFP. The piece was all around how can City possible afford Bony with FFP. THey went to their expert in the City to discuss and he effectively shot them down. He said we were financially solid, heading to profit, wages to turnover ratio under 60%. Basically said we were in a great place financially and 30 mil is not a problem.

The SSN presenter who is a complete muppet every time he ever talks about City was left with nowhere to go what so ever. What will be interesting now is to see if they repeat the interview every hour or its ditched as it didnt fit the direction they wanted it to go.

 

[unexpected item]

Well for once SSN were left with zero wiggle room to slag us off around FFP. The piece was all around how can City possible afford Bony with FFP. THey went to their expert in the City to discuss and he effectively shot them down. He said we were financially solid, heading to profit, wages to turnover ratio under 60%. Basically said we were in a great place financially and 30 mil is not a problem.

The SSN presenter who is a complete muppet every time he ever talks about City was left with nowhere to go what so ever. What will be interesting now is to see if they repeat the interview every hour or its ditched as it didnt fit the direction they wanted it to go.

Heard a similar thing last night on talkshite. Saggers had some financial journo on and when he asked for his views on City's finances the guy says 'they are in a very good position, possibly the best run club in the prem and their latest figures are very positive for the future. ' He had been at the opening of the CFA and said everything was in place to keep City at the top. There was an audible silence as Saggers swallowed hard and quickly changed to another subject. Then, after an ad break, he was desperately casting around trying to find something wrong about the Lampard situation.

Oh and Mark Saggers, hear this... When you google yourself and this pops up in the results...Fuck off, you City hating twat.