Analysis AFC finances - Rich Club, Poor Club?

[Jenkins4]

A lot of weird things from last years financials, we might get some clarity around

Particularly the Unearned Income. $6M!!!

What are they playing at?

May sure but could it be a bereavement. Has anyone of wealth, as $6,000,000 is a bit of money died and bequested money to the club.

 

[Deaneus!]

May sure but could it be a bereavement. Has anyone of wealth, as $6,000,000 is a bit of money died and bequested money to the club.

No, that wouldn't be unearned income. Unearned income is income you've received, which you may have to return as you've not yet fulfilled whatever it is you're supposed to get the income for.

 

[Drugs Are Bad Mackay?]

Would sporting clubs have life insurance taken out on key staff and players?

 

[Deaneus!]

Would sporting clubs have life insurance taken out on key staff and players?

I'd think so. Basic keyman insurance is pretty common, so you'd certainly hope that a leading one like ours would.

EDIT: i mean, imagine if Phil Harper left suddenly - who would make the coffees?

If you'r reading this, just kidding Phil. I'd have used Trigg but he's not there anymore, and i wouldn't have been sorry about it. I apologise.

 

[Jenkins4]

No, that wouldn't be unearned income. Unearned income is income you've received, which you may have to return as you've not yet fulfilled whatever it is you're supposed to get the income for.

So like sponsorship?

Could it be the money from BLK?

 

[GreyCrow]

So like sponsorship?

Could it be the money from BLK?

It was my understanding they didnt have the money to pay

 

[Geoffa32]

Got a note from the club, the 2017 financials will come out on March 1, 2018 (or thereabouts) when we have the AGM

As usual i'll read through and put up the comparison to previous years

Hopefully we make a multi million dollar (pre and post Depretiation/Amortisation/Donut expenses) profit.

Who cares if it means debt goes up and Football Department spend goes down.

Show me the profit.....


AmIdoingthisrite?

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[Jenkins4]

It was my understanding they didnt have the money to pay

I’m not an accountant by any means but was that $6,000,000 monies we were owned and did not receive or money have have been given but not yet fulfilled our obligation?

 

[Deaneus!]

I’m not an accountant by any means but was that $6,000,000 monies we were owned and did not receive or money have have been given but not yet fulfilled our obligation?

the latter

EDIT:

Google says

https://www.accountingcoach.com/blog/unearned-deferred-revenue

 

[Geoffa32]

the latter

EDIT:

Google says

https://www.accountingcoach.com/blog/unearned-deferred-revenue

Someone gave the club $6m to win the Premiership?

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[CrowsB4hoes]

May sure but could it be a bereavement. Has anyone of wealth, as $6,000,000 is a bit of money died and bequested money to the club.

Start recording the bereavements if anyone not dead as “unearned income”?

That’s genius.

And you say you’re not an accountant.

 

[Deaneus!]

Start recording the bereavements if anyone not dead as “unearned income”?

That’s genius.

And you say you’re not an accountant.

You're thinking of assassins, not accountants.

"I've got the money, but i haven't killed the guy yet, so i can't claim it as income."

Genius!

 

[Deaneus!]

Balance sheet over the years



things that grind my gears - having an Other Current Assets line where everything "else" gets lumped together, but it ends up being bigger than all the other items in current assets.

current loans & borrowings = 0, non-current = $2M. well, at least it's next year...

 

[AmericanCrow]

Geeze a guy floats the team a little get ahead money and it becomes a big mystery.

 

[Markthirtytwo2]

Wonder if any investment with crypto currencies?

 

[Deaneus!]

Wonder if any investment with crypto currencies?

I did think that earlier, and laugh, what if we've gone all in on Bitcoin?

...probably not

 

[GreyCrow]

The BeanCoin Chief comment reminded me of the eSports investment

Would the unearned income be a part of that start up?

 

[Geoffa32]

Wonder if any investment with crypto currencies?

It is how we fund Legacy.....

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[Deaneus!]

I can see next year's financials now...

Other Revenues $534M associated with Legacy eSports

http://www.abc.net.au/news/2018-01-28/coincheck-worlds-biggest-cryptocurrency-hack/9368056

 

[Doc_]

http://www.afc.com.au/news/2018-03-01/crows-report-multimillion-dollar-profit

 

[jo172]

Cash profit.

Still a very healthy operating profit and debt repayment.

Astonished (and skeptical) that AFLW drew a profit in year 1

 

[Elite Crow]

Cash profit.

Still a very healthy operating profit and debt repayment.

Astonished (and skeptical) that AFLW drew a profit in year 1

$648k stat profit? Wasn’t Ports $10?

 

[MatthewB]

Cash profit.

Still a very healthy operating profit and debt repayment.

Astonished (and skeptical) that AFLW drew a profit in year 1

the premiership and funding from the AFL probably helped the AFLW profit

 

[Vooligan]

Woweeeee. Keep going like this and there’s no excuse for not moving to a city base.

 

[WAG]

In layman's terms, what does this mean for the club moving forward?