As for the change in accounting policy it is an argument about legal form (these loans are ‘working capital’) vs ‘true and fair (the club cash flow statement shows the increase in debt in these periods is predominantly due to stadium costs). It is messy but true and fair over rides are only meant to be used in exceptional circumstances. How to judge that is subjective.
It is a dispute that should be going to the Financial Reporting Council or the regulatory authority of the club’s auditors. Only if they rule the change in policy is incorrect should a PL commission be invoked IMO. Accounting policy debates should not judged in that forum by a group of unqualified amateurs (typically only one of three commissioners is an accountant and they are not usually a technical expert).
This makes me a grumpy accountant!
It's over isn't it.
https://www.theguardian.com/football/2024/apr/12/everton-paid-30m-interest-lender-rights-media-funding-links-with-tax-exile-documents-suggest
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