I think it boils down to the interest charges on a loan they took out to fund the stadium - or so they claimed - with the loan actually being used to fund the day to day running of the club, and thus the interest not being deductible.
How will you know the accounts for even one of the months to compare with the other if you dont prepare the accounts monthly? There's plenty more going on in a club's accounts outside a transfer window. Accounts arent ruled by newspaper headlines.
You don't need to know the accounts for each of the months ffs, that's the entire point. If you're going to make the case there's plenty going on in a clubs accounts you can't at the same time say that they can be prepared in the space of 4 days.
Can't you read what I said? I didnt say football club accounts and audit should be completed in four days. I said they should be completed in one month. Stop all your straw man arguments. An interim audit is when an audit of the accounting records and systems are carried out prior to the year end. This means there's less work to do at the year end. A top 4 firm of accountants at an accounting backwater like Australia is a lot different to carrying out audits in a top 4 firm in London.
Would you just do them monthly for Manchester City Football Club Limited? Or also for Manchester City Limited? And City Football Academy Manchester Limited? And Manchester City Investments Limited? And City Football Group Limited? And City Football Services Limited? And City Football Marketing Limited? And Manchester City Women's Football Club Limited? They'd need more accountants than players.
Accounting backwater. The dick swinging continues. Imagine being that full of yourself for working at a ****ing accounting firm.
Nobody has ever saaid a Premier League club's accounts can be prepared in 4 days. I said a Premier League club's accounts can be prepared and audited within a month of the year end. This is helped by "interim audits" - something you dont seem to have come across. If you think I did suggest 4 days please show me.
You’ve misread my post I didn’t categorically say Luton had , I qualified my suspicion by saying if they had been ‘honest’ then applaud them and Bournemouth for surviving.
All companies would be done monthly. If companies want to be set up for multiple cost centres then they can prepare the accounts for multiple cost centres. Are you saying that setting up multiple companies should result in a free pass to not keep track of finances?
In fairness I went off what OLM said rather than reading your entire post because it was so utterly mad so that's on me, but I'm going to leave it there because this has already carried on far too long.
I haven't misread anything, I pointed out your suspicion was unfounded based on empirical evidence. I didn't say that you had categorically said anything.
To me, a non-accountant, it is all very simple. So simple, even Micawber had it worked out. If you spend more than you have coming in, you are in the smelly brown stuff. The points deductions handed out are nothing more than an attempt to stave off an independent regulator. If, as suggested in an earlier post, Everton used new stadium loans for the day to day running of the club. Very naughty. And, if you are skint, sell some players. So simple, even Ehab worked that one out.
The irony with all this, is that the Premier League clubs set their own rules, they all agreed to them, then spend the following years trying to get round them. It's not as if they're sneaky with it either, Everton and Forest spent money they didn't have in the full knowledge that they were breaching the rules. They're not appealing because they're not guilty, they're just appealing because they haven't got away with some of the things they expected to get away with and they didn't expect the penalties to be so severe.
Got so many charges it's going to take ages to come to a conclusion. Allegedly. I'll believe it when I see it.
Just make a Premier League club max its wages based on TV money received. Any other income (sponsorship, tickets, food etc) can fund transfer fees and any other costs. Make a loss? Relegated. Soon sort it The issue with football is we simply play players too much money.
