6 + 2 Point Deductions

[pfim]

A company can't tell anyone auditor what to do. The company prepares the accounts and presents them to the auditors for review. If the auditors disagree they state that the accounts don't show a true and fair view. That is not the case here. If the auditors get that wrong, they could be sued or/and lose the licence.

I don't understand your second point.

I've never seen that audited numbers are the starting point to calculate the Adjusted Earnings Before Tax. You can make that assumption, but the calculation has nothing to do with GAAP so it's meaningless assumption and a meaningless starting point.

You can negotiate with auditors. I did last year. I didn't say you can tell an auditor what to do.

What has changed from last year to this year to allow the capitalization of those costs? If the loan documents have been amended, then it's open and shut in our favor.

If they were not, then we're either in breach of PSR or we're in breach of the loan documents. Both can't be true.

New auditors...doesn't seem like we were getting what we wanted out of the process.

https://www.[Publication is blackli...nials-finance-expert-shares-worrying-verdict/

 

[Andy Gray Diving Headers]

The mess continues but to be honest, 2 points is better than I was expecting. Fair play for the club to be appealing but does anyone know what they are hoping the outcome will be (fine, 1 point deduction, suspended points deduction, etc)?.

 

[MIKE85]

You haven't highlighted anything they said about it. They said it wasn't unfair.

I stand corrected, it's under 265. Got red-faced and skipped that part lol

 

[roy vernon]

Thanks mate.

Dave, where you been mate? I've missed the banter and interaction.

 

[ToffeeTim]

I've never seen that audited numbers are the starting point to calculate the Adjusted Earnings Before Tax. You can make that assumption, but the calculation has nothing to do with GAAP so it's meaningless assumption and a meaningless starting point.

You can negotiate with auditors. I did last year. I didn't say you can tell an auditor what to do.

What has changed from last year to this year to allow the capitalization of those costs? If the loan documents have been amended, then it's open and shut in our favor.

If they were not, then we're either in breach of PSR or we're in breach of the loan documents. Both can't be true.

New auditors...doesn't seem like we were getting what we wanted out of the process.

https://www.[Publication is blackli...nials-finance-expert-shares-worrying-verdict/

Audited accounts are where you get your profit before tax figure.

I dont really understand your argument.

The accounts are the important financial document for any company and are filed publicly at companies House.

 

[Eggs]

The claim that this process is independent in any way was just demolished with that later announcement that the commission would revisit the PL's complaint over stadium spending.

The whole thing is an attempt to take this club down. The whole world sees this now.

….lets not forget, some months ago the Parliamentary Select Committee asked Masters for the minutes of the PL Board Meeting where Everton’s points deduction was discussed. A few weeks later the Select Committee chair received a letter from PL saying ‘we are a private company and not required to provide you with the minutes of Board meetings’

Clearly something to hide, those minutes could be dynamite if they haven’t already been shredded or doctored.

(By the way, it’s great to see you back, Dave.)

 

[matty1878]

Means they can/ will revisit at a later date.

but now they can’t?
and … how can they not season on if

it’s then old rules?

 

[summerisle]

 

[matty1878]

but none of this will get us the 2 pts back

 

[pfim]

Audited accounts are where you get your profit before tax figure.

I dont really understand your argument.

The accounts are the important financial document for any company and are filed publicly at companies House.

My point is that PSR is not a GAAP figure

 

[LEONARD]

Giving evidence to the independent commission, Kevin Thelwell, Everton's director of football, said the club was already changing and moving away from its previous business model towards a more sustainable recruitment strategy, but added that "it's a big old ship to turn round".

​

 

[ToffeeTim]

My point is that PSR is not a GAAP figure

But if something is capital in accounts then why would it not be capital for PSR?

PSR makes adjustments to accounting profits so the accounts are clearly still important.

 

[blulouie]

but now they can’t?
and … how can they not season on if

it’s then old rules?

Doesn't have a date on it Matty , could happen anytime.

 

[LouReedwalkonthewildside]

If this interest has been treated as capitalised in our accounts, which are audited, then I dont understand this at all. Are the league actually going to argue against our accounts?

I find this all extremely bizarre. The league just have no clue how to run the game properly.

Are the prem trying to say that we’re cooking the books?

 

[pfim]

But if something is capital in accounts then why would it not be capital for PSR?

It is not a GAAP figure so the PL don’t need to follow GAAP.

The expense wasn’t allowed last year, what has changed?