August 20, 2017

When is revenue not revenue?

  One of the accounting challenges that face businesses is the timing of the recognition of revenue – exactly when can revenue be recognised in the income statement. The answer to that question is crucial as it has a huge impact on when profits are earned and reported to shareholders. For some sectors – like […]

Financial fantasies in football

Why is it that Football clubs think that they are immune to the effects of continuing operating losses? In every other private sector business, it is understood that losses cannot be sustained indefinitely. Continuing financial losses lead inevitably to job losses, cuts in salary costs and sometimes complete closure, but not in football apparently? #146275737 […]

When the Accounts Preparation process goes wrong and losses are hidden…

For any company, loss incurrence is distinctly bad news – for its shareholders, employees, customers and suppliers alike.  Most companies adopt a conservative approach to operating losses and recognise them as early as possible, no matter how bad the news might be. Often, loss incurrence leads to changes in management and the new management team […]