Van der MoodHoover Posted June 25, 2021 Share Posted June 25, 2021 1 minute ago, MuespachRam said: If it was some shady foreign owner of, lets say, Forest, you would be all over it calling them every name under the sun, but because its Mel and he is "one of our own" and it is DCFC then surely it must be all ok.... it isnt, they knew the rules and ignored them and if you were honest with yourself you know that. Coincidentally, several years ago I drew up an approach for amortising deferred acquisition costs for my financial services employer. Two or three years on, the auditors came back and said "your approach isn't the same as emerging market practice, which means that your profit profile looks different and market analysts won't be able to compare you with other companies". We argued that our approach suited us, we understood it, and the accounting standards didn't prohibit it. They had to agree, but fell back on the "market practice" line and indicated that a special note would have to be put in the audit report, which never is a good thing. So we changed. With very ill grace. I see parallels here. Dcfc are being pulled up on amortisation. Not Enron style valuation of fictional assets and hidden captive entities where all the losses are hidden to present a fictional view of the club to the world. The policy was no doubt adopted to enable a short term increase in wiggle room. In the knowledge that it's the end points that are important and if contracts/registrations ultimately expire for nothing then there will be a reckoning, as there has been, which is being fully recognised. I have no idea what other variations clubs might use in other parts of the accounts. All sorts might be going on. If forests Greek owner can do favourable deals between his 2 clubs then that's a fault in the rule drafting. Foreveram, lrm14, LeedsCityRam and 2 others 5 Link to comment Share on other sites More sharing options...
BramcoteRam84 Posted June 25, 2021 Share Posted June 25, 2021 35 minutes ago, MuespachRam said: Well I don't I hang out on a Derby fans forum for the upbeat light hearted japes..... I just find it amazing that people are so blinded that they cant admit that what we have done is wrong....its as simple as that, we bent every rule possible to breaking point, broke a lot of rules and are getting called out on it, so thanks to the shambolic running of the club we should suck it up and take the punishment. Completely not true. Our amortisation method was accepted then the EFL changed its mind. The DC found a minor finding that we should have made it clearer. Everything else we were accused of we were not guilty. The LAP disagreed with the finding, and said at worst we misled the EFL, didn’t say deliberately. That’s now what the LAP will need to determine on the inevitable appeal. As for the key question - did we gain an advantage? If we breach FFP and resubmission then yes, if we’re still within limits then no we didn’t!! So no the Wycombe chairman’s comments are complete and utter baalocks and also libellous. Starting to think you’re just a WUM, you may as well be a red dog with some of your comments Foreveram, Kathcairns, The Scarlet Pimpernel and 6 others 2 7 Link to comment Share on other sites More sharing options...
Mucker1884 Posted June 25, 2021 Share Posted June 25, 2021 7 hours ago, Steve How Hard? said: Looking like that, he should probably worry more about Operation Yew Tree catching up with him. Steve How Hard? 1 Link to comment Share on other sites More sharing options...
Gaspode Posted June 25, 2021 Share Posted June 25, 2021 3 minutes ago, Van der MoodHoover said: Coincidentally, several years ago I drew up an approach for amortising deferred acquisition costs for my financial services employer. Two or three years on, the auditors came back and said "your approach isn't the same as emerging market practice, which means that your profit profile looks different and market analysts won't be able to compare you with other companies". We argued that our approach suited us, we understood it, and the accounting standards didn't prohibit it. They had to agree, but fell back on the "market practice" line and indicated that a special note would have to be put in the audit report, which never is a good thing. So we changed. With very ill grace. I see parallels here. Dcfc are being pulled up on amortisation. Not Enron style valuation of fictional assets and hidden captive entities where all the losses are hidden to present a fictional view of the club to the world. The policy was no doubt adopted to enable a short term increase in wiggle room. In the knowledge that it's the end points that are important and if contracts/registrations ultimately expire for nothing then there will be a reckoning, as there has been, which is being fully recognised. I have no idea what other variations clubs might use in other parts of the accounts. All sorts might be going on. If forests Greek owner can do favourable deals between his 2 clubs then that's a fault in the rule drafting. The problem is that if the governing body do not state the approach that must be taken, then people will be creative in order to gain an advantage - particualrly whereby the rules prevent owners from competing with others that seem to have an unfair advantage (as is the case with parachute payments) - being creative may be questionable ethically, but it's quite clearly not cheating if the governing body has been too lax to set out (in advance) what is and what isn't allowed. A one line change to the rules when we first started with our 'unusual' depreciation method would have sorted this - the EFL were too incompetent to think through the implications and let it go for several years. We have not breached their rules because their rules are badly written/implemented and allowed us to take the approach that we did..... Van der MoodHoover, LeedsCityRam, Gisby and 5 others 3 5 Link to comment Share on other sites More sharing options...
Day Posted June 25, 2021 Share Posted June 25, 2021 This is all getting very sad, and very desperate. Remember when QPR got busted for FFP when they beat us to go up? Back in your box Wycombe, you didn’t even get into the Championship on merit you fools. NottsRam77, r_wilcockson and Derby4Me 1 2 Link to comment Share on other sites More sharing options...
MuespachRam Posted June 25, 2021 Share Posted June 25, 2021 35 minutes ago, Rambalin said: We have been found guilty of a technicality hence a fine of 100k please tell of what other rules we broke. I suggest you listen to the Rams review podcast so you get your facts correct. so....lets get this straight.......we HAVE been found guilty....? Link to comment Share on other sites More sharing options...
Sparkle Posted June 25, 2021 Share Posted June 25, 2021 It’s about time we put in a transfer bid of £5 million for the Wycombe centre forward - we clearly have no money apparently so it wouldn’t do any harm would it and let all the news outlets know about the bid ( obviously pull out when it comes to signing the paperwork) Link to comment Share on other sites More sharing options...
Van der MoodHoover Posted June 25, 2021 Share Posted June 25, 2021 1 minute ago, Gaspode said: The problem is that if the governing body do not state the approach that must be taken, then people will be creative in order to gain an advantage - particualrly whereby the rules prevent owners from competing with others that seem to have an unfair advantage (as is the case with parachute payments) - being creative may be questionable ethically, but it's quite clearly not cheating if the governing body has been too lax to set out (in advance) what is and what isn't allowed. A one line change to the rules when we first started with our 'unusual' depreciation method would have sorted this - the EFL were too incompetent to think through the implications and let it go for several years. We have not breached their rules because their rules are badly written/implemented and allowed us to take the approach that we did..... It's what happens when there's a mish-mash of principles, objectives, detailed rules all within the same document. People naturally think everything is codified and there is no ambiguity but it simply isn't like that. Link to comment Share on other sites More sharing options...
Eatonram Posted June 25, 2021 Share Posted June 25, 2021 I think all fans including Muespach listen to the Rams Review podcast with Kieran Maguire. It is very enlightening. Link to comment Share on other sites More sharing options...
atherstoneram Posted June 25, 2021 Share Posted June 25, 2021 2 minutes ago, Eatonram said: I think all fans including Muespach listen to the Rams Review podcast with Kieran Maguire. It is very enlightening. Do you mean the Kieran Maguire who everyone was slagging off a couple of weeks ago. RadioactiveWaste 1 Link to comment Share on other sites More sharing options...
RadioactiveWaste Posted June 25, 2021 Share Posted June 25, 2021 2 minutes ago, Gaspode said: The problem is that if the governing body do not state the approach that must be taken, then people will be creative in order to gain an advantage - particualrly whereby the rules prevent owners from competing with others that seem to have an unfair advantage (as is the case with parachute payments) - being creative may be questionable ethically, but it's quite clearly not cheating if the governing body has been too lax to set out (in advance) what is and what isn't allowed. A one line change to the rules when we first started with our 'unusual' depreciation method would have sorted this - the EFL were too incompetent to think through the implications and let it go for several years. We have not breached their rules because their rules are badly written/implemented and allowed us to take the approach that we did..... Well, it's been found that we did, but it certainly wasn't an open and shut case and took a lengthy process to decide the point - we did "systematicaly cheat for years" because poorly drafted rules did not interprate the point on ammortisation. If the rules were better writen, we wouldn't have done it and even now we're found to be in the wrong, it is not the case that we knowingly and persistently did wrong "because we're cheats" no matter how much other fans and chairmen go around shouting that. Link to comment Share on other sites More sharing options...
Eatonram Posted June 25, 2021 Share Posted June 25, 2021 2 minutes ago, atherstoneram said: Do you mean the Kieran Maguire who everyone was slagging off a couple of weeks ago. Why not just listen to it. I'm not sure what point you are trying to make. Link to comment Share on other sites More sharing options...
Half Fan Half Biscuit Posted June 25, 2021 Share Posted June 25, 2021 Next Wycombe will be complaining we disadvantaged them by taking 3 points off them when we beat them 1-2 in February. Link to comment Share on other sites More sharing options...
Steve Buckley’s Dog Posted June 25, 2021 Share Posted June 25, 2021 After considering the Wycombe chairman’s views I have decided the appropriate retort is: Take your hat and f-off home, take your hat and f-off home Repeat ad nauseum until he has an undistorted view of what football means in this country. Derby4Me 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 25, 2021 Share Posted June 25, 2021 40 minutes ago, Eatonram said: I think all fans including Muespach listen to the Rams Review podcast with Kieran Maguire. It is very enlightening. Good or bad enlightening? Link to comment Share on other sites More sharing options...
NottsRam77 Posted June 25, 2021 Share Posted June 25, 2021 42 minutes ago, Eatonram said: I think all fans including Muespach listen to the Rams Review podcast with Kieran Maguire. It is very enlightening. Can u link it I can’t find it on apple poscasts Link to comment Share on other sites More sharing options...
S8TY Posted June 25, 2021 Share Posted June 25, 2021 This really is a calamitous mess and could've all been sorted ages ago now the EFL will appeal ducking Wycombe are on about suing us and we don't have a pot to p*** in ....This could all have been avoided and as much as we've been guilty the EFL could've nipped this in the bud ages ago...its a ducking joke and as usual has Zero to do with the actual game we love...I'm sick of all of this .....the EFL are a bunch of complete ******* How about trying to help clubs stay afloat during tough times,,,No!!!! instead lets look at books from years ago!! complete and utter joke!! Why don't we now go after QPR and Villa for breaking FFP and beating us at wembley ( not that I'd want us too! ) This has spiralled out of control and not sure how its going to be resolved now but one thing I know is....the EFL could've handled this much better....bunch of ***** Gisby and Kathcairns 2 Link to comment Share on other sites More sharing options...
Rambalin Posted June 25, 2021 Share Posted June 25, 2021 38 minutes ago, atherstoneram said: Do you mean the Kieran Maguire who everyone was slagging off a couple of weeks ago. The very same I am not his greatest fan but both on Radio Derby and the podcast he was very good at explaining what has happened and what may happen. It is well worth a listen.... I would suggest fans from other clubs especially a certain one and his deranged followers on a Bristol forum take a listen and educate themselves. Link to comment Share on other sites More sharing options...
Ramslad1992 Posted June 25, 2021 Share Posted June 25, 2021 1 hour ago, MuespachRam said: So its ok to murder someone because "Peter Sutclifffe did".......? What a completely ridiculous example to use. from what I can gather using loopholes to get around things before the loopholes have closed is a bit different from murdering someone. Link to comment Share on other sites More sharing options...
Carnero Posted June 25, 2021 Share Posted June 25, 2021 12 minutes ago, NottsRam77 said: Can u link it I can’t find it on apple poscasts https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy9jYThjYTMwL3BvZGNhc3QvcnNz/episode/MTkzNmIyNTgtYzk2OC00MjBkLTk0MTUtMGEzNDhmNjkzMmE1?ep=14 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account.
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now