Keith_Lard wrote:I am not confusing accumulated loses with a debt. What I was asking is where have the accumulated loses of £2.7 million come from? Barista recons there were accumulated loses of £2million showing on the 2011 accounts. Clearly not true looking at the accounts.
goodwill and intangible assets are charged to the profit and loss account (income statement) in the periods in which they are depleted. When an intangible asset is disposed of, the gain or loss on disposal is included in profit or loss
Really, you need to stop, it's not healthy to be obsessed by something you are clearly not familiar with.
Ok, read this a few times before responding.
The ACCUMULATED loss. The net balance of net profit less net loss since incorporation. Now, like it or not the historic company of Hull FC didn't disappear., it merged with another company( which incidentally also had a 600k loss accumulated in just 12 months) . At that point the historical company had accumulated losses of over £1.5m . This is really not hard to work out. Time passes, some losses are made and a few years of small profits are made. It left the company in 2010 having an accumulated loss of circa £2m.
I got incorrectly accused of googling earlier, never could an ill judged post prove a point of plagerism than yours. LISTEN AND READ CAREFULLY. Internally generated intangibles. Virtually impossible to recognise in the accounts as it's difficult to identify a realisable measurement of value. Hence the auditors qualified their report as it disagreed at the time with both SSAP13 and FRS 11. Hull FC created a reserve (ie a transaction direct to equity, not to p/l) of the valuation of players (under contract under the age of 24). Any movement in that value would have been altered via the reserve which backed it up and never affecting the p/l account.
That, as they say, is tHe final word. Please don't bore the rest of the forum users with a contrary response, you will be wrong.
