Financial Status Of SANFL Clubs 2014.

[Wedgie]

A hot shower won't be enough to get rid of this feeling....I agree with you.

Suggesting a cold shower might be higher on your needs list.

Any shower is a good shower for a Port supporter.

Even a golden shower?

[CUTTERMAN]

Beads, golden showers they're all one club

[topsywaldron]

Yes, your proof is indisputable ...

My proof is waaaaay bigger than yours.

Play on.

[Maddawg]

FFS, Glenelg's annual report laid it all out to bare last year as it should have. If you know how to read it you could easily see whether the issues were. There was no hiding and no financial auditor would sign off on so called 'cooked books'.

You clearly don't understand financials.

So you don't believe SANFL clubs move money around their various entities at various times of the year to suit their reporting periods or aims of showing improved financial performance etc etc? It happens all the time and for you not to believe it shows how naive you are about the real world.

Plus I know, for an indisputable fact, it does happen at this level.

????? Do the Glenelg Football Club have multiple entities??? If so income could be generated by these entities but to transfer funds to another entity that would be classified as a loan and doesn't sit on a P and L but on a balance sheet. So if income was transferred the Auditors would look at pretty closely if it couldn't be justified as an income and if so what were the expenses for generating that income.

You simply cant transfer money from one entity to another without justification, PS all companies run to this principal as there is an organisation called the ATO that ensure it! THAT IS THE REAL WORLD

[dedja]

Yes, your proof is indisputable ...

My proof is waaaaay bigger than yours.

Play on.

LOL, publicly published financial reports in yearly annual reports vs something someone you know who used work somewhere who told you some stuff.

Yep, you've got me.

[topsywaldron]

Yes, your proof is indisputable ...

My proof is waaaaay bigger than yours.

Play on.

LOL, publicly published financial reports in yearly annual reports vs something someone you know who used work somewhere who told you some stuff.

Yep, you've got me.

Took you a while.

Enjoy your spoon.

[dedja]

Maybe the Bays could wipe out their debt by selling off their clubrooms ... oh, hang on

[Spargo]

WHACK!

[Jim05]

Maybe the Bays could wipe out their debt by selling off their clubrooms ... oh, hang on

Would rather flags then clubrooms

[dedja]

keep out of this Jim ...

Anyway, any chance of keeping this thread to club financials?

Feel free to abuse me in other threads.

Cheers.

[topsywaldron]

I'm trying to discuss club financials, you just keep banging on about some scrawled notes on the back of an envelope Chiggy's showed you.

I'm sure it'll all work out though. In the magic fairyland you live in the public reports of an amateur sporting organisation are their actual financial position.

[dedja]

FFS, I refer to the audited annual reports like everyone else in the real world. You refer to some conspiracy which defies logic.

As previously mentioned, if you believe there has been financial impropriety by any SANFL club, please feel free to refer that to the appropriate authorities with any supporting evidence you have, because it's against the law to doctor the books.

I'll repeat again, anyone who can read and understand financial statements will find the information that they are looking for in any club's statements. Any accounting measures used by clubs are in accordance with the law and are subject to independent financial audits.

All you have is hearsay and an illogical grasp of financial principles.

Have you any experience in running a business?

Finally, if this statement is correct, then your 'contact' is either negligent, incompetent, legally culpable or lying.

I will also make sure I disregard the considered opinion of someone who oversaw communication with the SANFL about financial reporting and the production of those accounts for nearly a decade, he obviously knows zero about how these things work .

[topsywaldron]

LMAO, this post proves you've got zero idea what goes on at an SANFL club.

[dedja]

QED

[Maddawg]

LMAO, this post proves you've got zero idea what goes on at an SANFL club.

Im still grasping at how you can suggest funds can be transfered through a Profit and Loss statement?????????

Please explain KPMG wuld love to know it may save there clients millions if they could get away with it!!!!!!

[johntheclaret]

FFS, Glenelg's annual report laid it all out to bare last year as it should have. If you know how to read it you could easily see whether the issues were. There was no hiding and no financial auditor would sign off on so called 'cooked books'.

You clearly don't understand financials.

So you don't believe SANFL clubs move money around their various entities at various times of the year to suit their reporting periods or aims of showing improved financial performance etc etc? It happens all the time and for you not to believe it shows how naive you are about the real world.

Plus I know, for an indisputable fact, it does happen at this level.

????? Do the Glenelg Football Club have multiple entities??? If so income could be generated by these entities but to transfer funds to another entity that would be classified as a loan and doesn't sit on a P and L but on a balance sheet. So if income was transferred the Auditors would look at pretty closely if it couldn't be justified as an income and if so what were the expenses for generating that income.

You simply cant transfer money from one entity to another without justification, PS all companies run to this principal as there is an organisation called the ATO that ensure it! THAT IS THE REAL WORLD

Not necessarily. Funds could be moved between companies in the form of management fees which would then appear as P&L entries

[Maddawg]

True those management fees would need to be justified, remeber its not individuals its companies we are talking about! So another Glenelg associated company (are there any its all here say) would need to contract out its service and justify it, purely so that the books are telling evryone they are making a bigger loss than was actually the case. What are the benfits of increasing your loss from $100k Loss to $500K loss. I can see the benefits in decreasing profit. So makes absolutely no sense what so ever.

[johntheclaret]

True those management fees would need to be justified, remeber its not individuals its companies we are talking about! So another Glenelg associated company (are there any its all here say) would need to contract out its service and justify it, purely so that the books are telling evryone they are making a bigger loss than was actually the case. What are the benfits of increasing your loss from $100k Loss to $500K loss. I can see the benefits in decreasing profit. So makes absolutely no sense what so ever.

My company regularly charges my other company management fees.
I'm not sure of the benefits of distorting profit just to pay more tax though.

As for the rest, I have no idea what Glenelg FC is or isn't up to. I was just making a point that with numerous companies within a group and associated companies not in a group, management fees can be used to move profit around and if those associated companies have a different year end then the reality is a little more difficult to see.

[dedja]

The Glenelg Football Club financials are all in order ... period.

[stan]

Im sure Glenelg will be massing all there shell corporation's this year again [emoji12]