What? He was talking about Lenegahn writing off loans that I correctly stated would be disclosed as an extraordinary item so bore off you whopper. If you think a material related party write off shouldn't be disclosed in the accounts you need to go and resit your btec bookkeeping course

Regards

King James

I don't think I ever suggested they wouldn't be clearly evident to the user of the accounts? That's the whole point - whatever these owners or clubs do, ultimately any accounting treatment usually gives us a view of what's going on.

The idea that they anything nowadays would be "extraordinary" though.... if we're being picky about accounting standards extraordinary items don't in reality exist any more.

I simply said it wasn't an extraordinary item. you're very touchy.

I'm a Fellow of the Institute of Chartered accountants in England and Wales by the way old bean. So toddle along with your amateur accountancy.

My point exactly.

Not a good analogy, in my opinion. Our losses were so high because we had a terrible squad. We turned ourselves from super e to league winners. The investment was worth it as we now have our noses firmly in the CL trough, bring in high commercial revenues and football is yet to fully exploit its market. For the record, we are now profitable.