Elwood P Dowd

What can he say to mitigate his position he was the man in charge. He thought he was doing his best for the club but he took too many gambles that didn’t payoff.

What can he say to mitigate his position he was the man in charge. He thought he was doing his best for the club but he took too many gambles that didn’t payoff.

What can he say to mitigate his position he was the man in charge. He thought he was doing his best for the club but he took too many gambles that didn’t payoff.

Ravel will be more effective when he plays further forward I am looking forward to him and Belick playing together

Ravel will be more effective when he plays further forward I am looking forward to him and Belick playing together

If the accounts now conform to FRS 102 then thats all thats required in the current EFL regulations ? 

Doesn’t matter which accounts the embargo charges relate to. We can wipe the charges by filing the relevant accounts in our preferred  form. Problem we’ve got I think is EFl are saying: ‘well we’ve looked at your resubmitted accounts and we don’t accept them as compliant with the accounting standards. So accept a penalty OR submit them as final and we’ll raise formal charges against you.
 
 I think that’s how all this works and what is probably going on.
 
I think it’s likely we’ve filed accounts based on a new amortisation profile that is not straight line but which is favourable to our P&S position. And that Mel is saying: ‘ I’ve got accountants lining up saying these accounts reflect FRS 102, so bog off with your points deduction. 
 
problem Mel has of course is, even if he’s right, he doesn’t want further proceedings because they make a sale difficult and they could go on for a long time 
The EFl are going to have to change the rules to require straight line depreciation I think. The LAP decision didn’t say you need to use straight line. It said our old version did not reflect the standard 

And it was an away win ? 

Nixon is nonspecific so until he names other clubs who have defaulted on payments we can only assume Nixon has contrived a story without any facts to substantiate it, not unusual the world of journalism .

I doubt they are making it up as they go along, they probably are just incompetent, making it up as you go along requires some thought.

I understand Nixons article was nonspecific however, it doesn’t take a genius to work out that the majority of clubs outgoings have exceeded their income since the first Covid lockdown.
Nixon may have indulged in a little journalistic speculation but I imagine he’s probably not that far from the mark.

The explanation for EFLs stance on none payments is simple, none of the other clubs who have missed payments are called Derby County?‍♂️?‍♂️

The explanation for EFLs stance on none payments is simple, none of the other clubs who have missed payments are called Derby County?‍♂️?‍♂️

The explanation for EFLs stance on none payments is simple, none of the other clubs who have missed payments are called Derby County?‍♂️?‍♂️

When I was young it was called the Boys enclosure\ corner you had to be under 15 to get in, that was in the 50s/60s

A 3 point deduction with a 3 points suspended would be an excellent result.
 
 

A 3 point deduction with a 3 points suspended would be an excellent result.
 
 

I read in The Accountancy Today magazine that basicaly there are only three types of accountants those that can count and those that cannot count ?

I maybe wrong but I think we could appeal against the punishment the EFL give us but not the verdict.
It makes sense to agree the punishment as it brings the issue to a close for both parties and removes the need for further appeals
If Percy is right it looks like we really breached the FFP in a number of seasons ???
9 points ????

I read in The Accountancy Today magazine that basicaly there are only three types of accountants those that can count and those that cannot count ?

I read in The Accountancy Today magazine that basicaly there are only three types of accountants those that can count and those that cannot count ?

I read in The Accountancy Today magazine that basicaly there are only three types of accountants those that can count and those that cannot count ?

I read in The Accountancy Today magazine that basicaly there are only three types of accountants those that can count and those that cannot count ?

Salah and 10 million or they can do one.
Hey B4, I’m learning. ?

It doesnt realy matter how we got here, the £100k fine and the slap on the wrist are not the real issue here they are only a minor anoyance, its the outcome of the instruction to, submit restated accounts for financial years ending 30 June 2016, 2017 and 2018 that meet the requirements of FRS102, together with updated Profit & Sustainability calculations if necessary, that may come back to bite us
Although, in June we were issued  sanctions for not meeting standard FRS102 the real issue is the amortisation policy the club used in 30 June 2016, 2017 and 2018 accounts. Perhaps the EFL have been quite clever here in that they have used the Disciplinary Commission to open up and force the club to restate the accounts, probably in the hope we have breached FFP.
The Disciplinary Commission's findings in June only added to our issues with the EFL.
from June 2021
In May, an Independent League Arbitration Panel ruled that the Disciplinary Commission was wrong to dismiss the League’s expert accountancy evidence, which demonstrated that the Club’s policy regarding the amortisation of player registrations was contrary to standard accounting rules. 
More specifically, the panel determined that the Club’s policy was not in accordance with accounting standard FRS102 because it failed to accurately reflect the manner in which the Club takes the benefit of player registrations over the lifetime of a player’s contract. 
Tonight, the Disciplinary Commission has announced that the sanction to be imposed in respect of those breaches, is a financial penalty of £100,000 to be paid to the EFL and a reprimand for the Club as to its future conduct regarding the preparation of its Annual Accounts.
In addition, the Club has also been ordered to file restated accounts for financial years ending 30 June 2016, 2017 and 2018 that meet the requirements of FRS102, together with updated Profit & Sustainability calculations if necessary.
https://www.efl.com/news/2021/june/-Derby-county/
https://www.frc.org.uk/getattachment/69f7d814-c806-4ccc-b451-aba50d6e8de2/FRS-102-FRS-applicable-in-the-UK-and-Republic-of-Ireland-(March-2018).pdf