2017 Chat with the Club - now with answers see OP

[Sanders]

Only if you cant read. Its literally all there in Note 5, on page 30 of the 2015 Annual Report

So it's 460k

 

[Elite Crow]

So it's 460k

But the comparison was gross merchandising revenue

 

[feenix67]

Tick tock.

Will be delayed by a day or two - life stuff etc.

PS. until you're paying me to do it, dont whinge

 

[Sanders]

But the comparison was gross merchandising revenue

Its * all is what it is

If we have 600,000 supporters or whatever we claim, making 75c each seems a rubbish result

And how does that $800k look in this context?

 

[Kane McGoodwin]

How much money do we make from merchandise? 460k or 1,320k

Seems hard to get a straight answer

Well for someone who claims to be awesome in business, you appear to not understand the basic concepts lol!

Firstly, you asked about revenue, which is gross sales of $1320k, which The_Wookie answered correctly...so no need to be usual rude self.

Now you are asking how much did we make on those sales after costs, which is $460k net profit... which is a different question to you're original.

 

[WaynesWorld19]

Well for someone who claims to be awesome in business, you appear to not understand the basic concepts lol!

Firstly, you asked about revenue, which is gross sales of $1320k, which The_Wookie answered correctly...so no need to be usual rude self.

Now you are asking how much did we make on those sales after costs, which is $460k net profit... which is a different question to you're original.

Which is also wrong ! .....it's gross profit

Net EBIT is less selling expenses via on-line and the shop .....they do have sales staff to sell the merchandise don't they ? ......shop rent, and yes that is applicable in any direct cost analysis

 

[Geoffa32]

Which is also wrong ! .....it's gross profit

Net EBIT is less selling expenses via on-line and the shop .....they do have sales staff to sell the merchandise don't they ? ......shop rent, and yes that is applicable in any direct cost analysis

Is a bit of that included in COGs?

Staffing would be a separate line in the financials as well.

Sent from my SM-G930F using Tapatalk

 

[Southerntakeover]

Only if you cant read. Its literally all there in Note 5, on page 30 of the 2015 Annual Report

How did we manage no net revenue from match day merchandise sales in '14?

Sans that outlier, we've actually made less in 2015 than 2014.

 

[Kane McGoodwin]

Which is also wrong ! .....it's gross profit

Net EBIT is less selling expenses via on-line and the shop .....they do have sales staff to sell the merchandise don't they ? ......shop rent, and yes that is applicable in any direct cost analysis

Would have thought that was included in COGS as run by a 3rd party, so should be same... but in theory you have a point.

 

[Pdub]

How did we manage no net revenue from match day merchandise sales in '14?

Sans that outlier, we've actually made less in 2015 than 2014.

It probably wasn't measured in 2014 but it's something they wanted to measure in 2015 and going forward. I think that's more likely than not earning a single cent from game day sales. In fact if they legitimately ended up with $0.00 on their balance sheet for game day sales at the end of the year, they would put $0.00 in the document, not -.

 

[Thetrader15]

So it's 460k

How are they only making 50% margin on their COGS? Those scarves, hats etc should be more like 80%. Find another supplier I think

 

[Pdub]

How are they only making 50% margin on their COGS? Those scarves, hats etc should be more like 80%. Find another supplier I think

Would depend on if the expenses include the costs of running crowmania, staff costs, the costs of running their pop-up shops at AO, the costs of running the website, the cost of designing the merch etc. It's generally more than just what a scarf sells for minus what it costs. Was 2015 the year the club had a second crowmania in rundle mall?

 

[GreyCrow]

Love seeing accountants fight. Pocket protectors at 10 paces

 

[WaynesWorld19]

Would have thought that was included in COGS as run by a 3rd party, so should be same... but in theory you have a point.

Online maybe ....but not retail shop sales, where rent and staff salaries are expensed items ....would think you can deduct at a minimum, another $100K - $120K off the reported gross profit figures

 

[Thetrader15]

Would depend on if the expenses include the costs of running crowmania, staff costs, the costs of running their pop-up shops at AO, the costs of running the website, the cost of designing the merch etc. It's generally more than just what a scarf sells for minus what it costs. Was 2015 the year the club had a second crowmania in rundle mall?

Depends if they have allocated this to COGS or have it as general o/head. Design would be considered 'r&d' so shouldn't be COGS, but yes crowmania, etc may have been included

 

[arrowman]

Where I come from, gross profit = sales revenue - cost of goods sold, and COGS is only purchase price of the product.

NET profit = gross profit - expenses, and expenses is where electricity, rent, wages etc come in.

 

[1970crow]

How are they only making 50% margin on their COGS? Those scarves, hats etc should be more like 80%. Find another supplier I think

AFL get a cut for use of their logo and BLK is really just a middle man.

 

[1970crow]

Where I come from, gross profit = sales revenue - cost of goods sold, and COGS is only purchase price of the product.

NET profit = gross profit - expenses, and expenses is where electricity, rent, wages etc come in.

COGS is costs incurred in making the product available for sale. Includes freight.

 

[arrowman]

COGS is costs incurred in making the product available for sale. Includes freight.

Yes, fair call.

 

[MRB37]

This is my general reaction when people start talking about accounting.

 

[Southerntakeover]

It probably wasn't measured in 2014 but it's something they wanted to measure in 2015 and going forward. I think that's more likely than not earning a single cent from game day sales. In fact if they legitimately ended up with $0.00 on their balance sheet for game day sales at the end of the year, they would put $0.00 in the document, not -.

Look, I'm not sure that's the case. It's not presented as an additionally captured metric that doesnt change the bottom line. It's set out as an addition to revenue from sales, and it appears to be the most significant distinction between the two years.

 

[Thetrader15]

COGS is costs incurred in making the product available for sale. Includes freight.

Absolutely. COGS includes directly costs associated with aquiring said goods

 

[ad victoriam]

Guy and Girls If you have a problem ask the Club, March 2 members meeting,
"Chairman Rob Chapman and Chief Executive Andrew Fagan will address the room and Members will have the opportunity to ask questions."

http://www.afc.com.au/news/2017-02-20/members-meeting-on-march-2

 

[Kane McGoodwin]

Guy and Girls If you have a problem ask the Club, March 2 members meeting,
"Chairman Rob Chapman and Chief Executive Andrew Fagan will address the room and Members will have the opportunity to ask questions."

http://www.afc.com.au/news/2017-02-20/members-meeting-on-march-2

Elite Crow - the floor is yours...

 

[Elite Crow]

Elite Crow - the floor is yours...

Can I wear my Elite Crow costume as my name is on the agitator list at the club.