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| Quote Rogues Gallery="Rogues Gallery"According to todays League Express Hull FC present their accounts differently to every other club in that they they include a valuation of their players into their balance sheet.
The independent auditors have suggested that this (2008 valuation £942,500) should be removed from the balance sheet. The auditors have registererd a disagreement with the Hull directors.
It also appears that from 2009 all clubs have to lodge full accounts which includes a profit and loss account, so we should have some sort of conformity in the next set of presented accounts.'"
Which has the square root of nack all to do with profit and loss. |
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| Quote Kosh="Kosh"Which is why it's not standard accounting practice to include them. Player valuations are entirely subjective and situational - a player is basically worth what someone is prepared to pay for him so there is no way to objectively value one as an asset.'"
If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth  |
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| Player Coach | 5166 | No
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| Quote Gordon Gekko="Gordon Gekko"If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth
'"
Fits in with their fans perception of the club  |
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| Moderator | 12673 | Hull KR |
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| Jun 2007 | 18 years | |
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| Quote Gordon Gekko="Gordon Gekko"If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth
'"
I think you've answered your own question there. Though if somebody were stupid enough to fall for that trick when purchasing the club, they really shouldn't be trusted with that sort of money in the first place.
Has the list value of the players fluctuated to reflect the changes in the teams fortunes over recent seasons? Is it done player by player? I suppose you could do it as a proportion/multiple of their wage, for simplicity's sake. Or does somebody independent just have a best guess?
There's nowt wrong with it - it just seems a bit pointless... unless they really are hoping for a very gullible multi-millionaire buyer. |
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| Club Coach | 13126 | No
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| Quote Gordon Gekko="Gordon Gekko"If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth
'"
[url=http://www.hullfc.com/hullfc/contents/?page_id=4030Try here and report back if it's bothering you[/url |
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| Moderator | 36786 | Hull FC |
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| Jul 2003 | 22 years | |
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| Quote Gordon Gekko="Gordon Gekko"If that's the case why do Hull do include them as assets on their balance sheet at all??. Surely it overstates the value of the clubs total assets and therefore its net worth
'"
Exactly. It's a not-very-subtle bargaining device when it comes to discussions with potential buyers, otherwise as far as I can tell it has bugger all effect on anything. Net worth is meaningless unless you're either selling a business or winding it up. |
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| Quote Staffs FC="Staffs FC"[url=http://www.hullfc.com/hullfc/contents/?page_id=4030Try here and report back if it's bothering you[/url
'"
Touchy!  |
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| Quote Robbo4="Robbo4"Which has the square root of nack all to do with profit and loss.'"
Actually it 'potentially' does. Especially if you were required to remove them from your balance sheet.
If they were written off the balance sheet then this would mean the write down would either need to be shown as a cost in the P&L account or alternatively written off directly to reserves.
The thought has crossed my mind that the profit generated by FC for 2008 could potentially be purely due to an increase in the valuation of the players.
I am only summising and I wouldn't think this is likely, but you never know. Then again given last season I would think a reduction in the value of the players would be much more likely!! |
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| Quote Bobbin' Along="Bobbin' Along"Touchy!
'"
 Not at all.
The poster was confused about an accounting issue related to Hull FC's accounts. Thought I was helping that's all  |
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| Quote Staffs FC="Staffs FC"[url=http://www.hullfc.com/hullfc/contents/?page_id=4030Try here and report back if it's bothering you[/url
'"
Not at all. Just thought of our squads worth.
£920,000 |
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| Quote Chillibeano="Chillibeano"Actually it 'potentially' does. Especially if you were required to remove them from your balance sheet.
If they were written off the balance sheet then this would mean the write down would either need to be shown as a cost in the P&L account or alternatively written off directly to reserves.'"
The revaluation reserve. Which is completely separate to the Profit and Loss reserve, you mean.
Quote Chillibeano="Chillibeano"The thought has crossed my mind that the profit generated by FC for 2008 could potentially be purely due to an increase in the valuation of the players. '"
Sweet baby Jesus and the orphans. Get a copy of the accounts and check the balance sheet which includes a revaluation reserve. Just to spell it out in double-entry bookkeeping terms, the accounting entries go to fixed assets in the balance sheet, and the revaluation reserve, in the balance sheet, but not the P&L account, nor the P&L reserve. |
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They are in profit and let that be the end of it. 
