Filing our accounts

[DCFC1388]

1 hour ago, Coconut said:

My theory / best guess is that our straight line method keeps 'just about' within the limits, but once submitted leaves us absolutely no room for manoeuvre and guarantees us living off scraps for the next few years, whereas...

 ..what we want to do is submit our new accounts using that extra £30m from the PPS sale and use the wriggle room we gain from it to remain competitive (but hopefully a bit more sensibly!) in the market.

If things don't work out how we want them to we can still bring in a few frees in an effort to ensure we survive, but if it does go how we want we can better support Rooney with the players we feel he needs to thrive.

I dont think the extra 30m will have any baring on our recent accounts as it will only count before the stadium sale

[May Contain Nuts]

10 minutes ago, DCFC1388 said:

I dont think the extra 30m will have any baring on our recent accounts as it will only count before the stadium sale

Good point (I assume? Haven't thought it through, don't have that brainpower!), the principle of our preferred method giving us extra leeway remains whether it's due to that particular accountancy trick or something else.

Edited August 12, 2021 by Coconut

[jono]

The sooner we all realise this is politics not accountancy the better. 
 

The argument is taking place within the EFL and it’s numerous committees and main board

It is those who want us punished, possibly because  Mel went to war with them but really because they will lose face if we aren’t  , Versus those who don’t because, right or wrong, things have gone far enough. 

The rest is window dressing and self justification. 

[gccrowdpleaser]

5 hours ago, MACKWORTHRAM said:

What happens if we get to the deadline on August 18th and the EFL still don't agree?

Hopefully these are being checked legally so we know beforehand whether or not the EFL have a leg to stand on.

I think we would have resubmitted them to the EFL and we are fine. Seeing this the EFL (probably expecting we wouldn't be and they would finally get the points deduction they so desperately crave)

Because if we had submitted them and breached the rules I'm sure the EFL would have took great delight in handing us a big points deduction.

What does concern me slightly is that season tickets go on sale on the 18th August.

I'm hoping this is just a coincidence but this is Derby County we are talking about so that's highly unlikely.

My worry is that by the 18th August we will know and if we are going to fall foul and get a 9-12 point deduction, some fans might stay away and not get the season ticket.

So Derby are essentially saying. Look this is it, we're getting deducted points, you know what's happening, everything is out in the open and there is nothing left to hide.

So now you know. It's entirely up to you whether or not to get the season ticket.

 

The ruling was that they had to be submitted to the independent panel by 18th. Not the EFL.  There was,a  agreement to submit them to EFL first to try and work together on it.

[kevinhectoring]

5 hours ago, Dean (hick) Saunders said:

Perhaps we want to stay in embargo until last minute to negotiate more of these cut price £4.5k/week with the next round of recruits.

Well that might be a by-product of the delay but not convinced it’s what is driving it. I think the accounts negotiations are all about FFP, past present and future. In that order 

[Eddie]

6 hours ago, Ted McMinn Football Genius said:

Both parties have probably signed a NDA ?????

Sorry couldn’t help it ??

NDA - "Not Doing Anything"?

[Ghost of Clough]

1 hour ago, DCFC1388 said:

I dont think the extra 30m will have any baring on our recent accounts as it will only count before the stadium sale

The stadium sale being in the 17/18 accounts means it appears in the 3 year P&S calcs up to 2020.

However, due to Covid, the 2021 period was extended to a 4 year period, so it will fall into that one too. 

[DCFC1388]

6 minutes ago, Ghost of Clough said:

The stadium sale being in the 17/18 accounts means it appears in the 3 year P&S calcs up to 2020.

However, due to Covid, the 2021 period was extended to a 4 year period, so it will fall into that one too. 

The extra 30m only counts before the stadium sale then the stadium sale counts from 17/18 onwards

[Carnero]

7 hours ago, DCFC1388 said:

The extra 30m only counts before the stadium sale then the stadium sale counts from 17/18 onwards

No, the "extra £30m" relates to potential additional profit on the stadium sale IE. Profit = Sale price less original costs, rather than Profit = Sale price less value in the accounts. If allowable if will appear when the stadium was sold (2017/18).

[Spanish]

10 hours ago, Rambalin said:

That's right but has nobody has any idea what the rules are because they change them on a whim, it would be interesting too see what would happen if they did. 

 

 

 

Don’t think they have changed the rules they need to be compliant with accounting standards. 

[QuitYourJibbaJivin]

Can’t wait for accounts deadline day next week on sky sports news.

[Eatonram]

21 minutes ago, Spanish said:

Don’t think they have changed the rules they need to be compliant with accounting standards. 

We’re they not already? Compliant with accounting standards but diverged from EFL rules and there is the problem? 

[Rambalin]

3 minutes ago, Eatonram said:

We’re they not already? Compliant with accounting standards but diverged from EFL rules and there is the problem? 

They were and the EFL did not have a rule saying which method that should be used 

[Spanish]

1 hour ago, Eatonram said:

We’re they not already? Compliant with accounting standards but diverged from EFL rules and there is the problem? 

 

1 hour ago, Rambalin said:

They were and the EFL did not have a rule saying which method that should be used 

We were fined and have to restate.  A professor of accounting said they were non compliant (some say that he had no practical experience and his opinions are worthless), DC1 and our auditors did not find our process to be non compliant.  It is all about the interpretation of normal accounting standards as arrived at by DC and LAP.

[duncanjwitham]

30 minutes ago, Spanish said:

 

We were fined and have to restate.  A professor of accounting said they were non compliant (some say that he had no practical experience and his opinions are worthless), DC1 and our auditors did not find our process to be non compliant.  It is all about the interpretation of normal accounting standards as arrived at by DC and LAP.

And by "some" you include the original DC panel.  This is what they thought of his evidence on the amortization issue and how it related to FRS102:

[Tombo]

Maybe it's just a debate on how many points is fair to deduct so we don't have to get it reduced upon appeal

[hintonsboots]

6 minutes ago, Tombo said:

Maybe it's just a debate on how many points is fair to deduct so we don't have any chance of survival.

FTFY

[Ghost of Clough]

50 minutes ago, Tombo said:

Maybe it's just a debate on how many points is fair to deduct so we don't have to get it reduced upon appeal

Erm... no

[Betty Swollocks]

20 hours ago, MACKWORTHRAM said:

What happens if we get to the deadline on August 18th and the EFL still don't agree?

Hopefully these are being checked legally so we know beforehand whether or not the EFL have a leg to stand on.

I think we would have resubmitted them to the EFL and we are fine. Seeing this the EFL (probably expecting we wouldn't be and they would finally get the points deduction they so desperately crave)

Because if we had submitted them and breached the rules I'm sure the EFL would have took great delight in handing us a big points deduction.

What does concern me slightly is that season tickets go on sale on the 18th August.

I'm hoping this is just a coincidence but this is Derby County we are talking about so that's highly unlikely.

My worry is that by the 18th August we will know and if we are going to fall foul and get a 9-12 point deduction, some fans might stay away and not get the season ticket.

So Derby are essentially saying. Look this is it, we're getting deducted points, you know what's happening, everything is out in the open and there is nothing left to hide.

So now you know. It's entirely up to you whether or not to get the season ticket.

I`d still get one for sure. Adversity should bring us all closer together

20 hours ago, MACKWORTHRAM said:

 

 

[Tombo]

57 minutes ago, Ghost of Clough said:

Erm... no

Well obviously