Other operating costs (ooc)

[Bunners]

I think this is one of the most crucial tfer windows we have had in a while and clearly teh £ available is going to play an important part. I was discussing this on another forum and the accounts came up.

I had to look at the accounts to answer a query and am obviously aware of the infamous ooc. Now obviously the accounts have been signed off by the auditors however........

As a bit of background im an auditor and if there is a balance that is material to the accounts, which ooc would be then imo, further disclosure is required.

Has this question been asked of the auditors, the reason for this requirement is essentially to stop things getting "hidden"

Im not here to Board bash etc but just wondered if this had been discussed or questions asked of the auditor??

 

[Big Fat Sam]

OOC will have risen by 15m.

 

[Big Doug]

imagine how shocked football (not just Everton fans would be, if it came out Kenwright was taking money out the club for Green etc. would be the ultimate wolf in sheeps clothing

 

[Coach]

Sigh.

 

[Pat's Van]

grass cannot cut itself

 

[lmurkder]

I think this is one of the most crucial tfer windows we have had in a while and clearly teh £ available is going to play an important part. I was discussing this on another forum and the accounts came up.

I had to look at the accounts to answer a query and am obviously aware of the infamous ooc. Now obviously the accounts have been signed off by the auditors however........

As a bit of background im an auditor and if there is a balance that is material to the accounts, which ooc would be then imo, further disclosure is required.

Has this question been asked of the auditors, the reason for this requirement is essentially to stop things getting "hidden"

Im not here to Board bash etc but just wondered if this had been discussed or questions asked of the auditor??

Who are the auditors?

PWC is the accountants isn't it.

 

[larrygobfiend]

All went on the new street end bogs lads. Case closed.

 

[The Equaliser]

imagine how shocked football (not just Everton fans would be, if it came out Kenwright was taking money out the club for Green etc. would be the ultimate wolf in sheeps clothing

conspiracee theory #5853978. That is not happening, firstly and foremostly because it would be illegal.

What he is hoping to do is sell the club at a massive profit, thereby ensuring Green/Earl & Co make a profit on their investment. (Ref: Destination Kirby)

Which is not the same as syphoning the Club's money into the pockets of the major shareholders.

 

[mooseatingnome]

I think this is one of the most crucial tfer windows we have had in a while and clearly teh £ available is going to play an important part. I was discussing this on another forum and the accounts came up.

I had to look at the accounts to answer a query and am obviously aware of the infamous ooc. Now obviously the accounts have been signed off by the auditors however........

As a bit of background im an auditor and if there is a balance that is material to the accounts, which ooc would be then imo, further disclosure is required.

Has this question been asked of the auditors, the reason for this requirement is essentially to stop things getting "hidden"

Im not here to Board bash etc but just wondered if this had been discussed or questions asked of the auditor??

If its not disclosed separately then presumably there is no one item making up other operating costs that is material to the accounts?

 

[Big Doug]

conspiracee theory #5853978. That is not happening, firstly and foremostly because it would be illegal.

What he is hoping to do is sell the club at a massive profit, thereby ensuring Green/Earl & Co make a profit on their investment. (Ref: Destination Kirby)

Which is not the same as syphoning the Club's money into the pockets of the major shareholders.

bloody hell lad I was taking the piss, agree on him trying to flog the club for a massive profit

 

[Bunners]

It Deloittes .....one of the worlds big 4 so no worries there

Like I say I would just expect any "other" balance that is material to be broken down into sub headings via a note to the accounts, my initial post says requirement but it would actually be more of an expectation?

 

[Chang Elephant]

I trust Bill, it's not his fault if money just disappears, and at least he's not some sort of foreigner like Tan.

 

[Bunners]

If its not disclosed separately then presumably there is no one item making up other operating costs that is material to the accounts?

hence the note -where it would be broken down in general headings......i.e. merchandising or such like...obviously having no idea what is in there makes it imporrible to suggest what those headings would or could be

 

[lmurkder]

If its not disclosed separately then presumably there is no one item making up other operating costs that is material to the accounts?

The statement of accounts is just a summary with minimum that must be legally disclosed.

Not the actual full accounts.

What we need is a forensic accountant.

 

[Bunners]

Id love to do it

i picked arsenal for instance http://www.arsenal.com/assets/_file...1349166617_ARSENAL_HOLDINGS_plc_ANNUAL_RE.pdf

now they have large OOC as well but at least there is a (very brief) commentary on page 19 of the balance that makes up ooc...if you read back over time this would give a good indication of the nature of the balance