Extending accounts

[S6 Blade]

A fair few I here will know more about this than me. Seems a lot of clubs did this at the first opportunity. We’ve just waited a bit?

 

[diode_blade]

Pigs will say we are copying them....as with everything else they were first to do and invent songs etc...

 

[billyblademan]

Not necessarily a bad sign, but usually an indicator of some hiccup, either in the preparation of the accounts, or delaying whatever's inside them.

As Maguire says on Twitter though, its likely the accounts are decent given it will reflect our promotion/year in Prem.

We'll see I guess - but later than we'd previously have seen!

 

[Bladezz]

We knew the season was extended gave us more time.

This is bad news! They are trying to hide something what they are trying to hide I am not sure. The time frame to produce accounts is straight forward and it’s tactical to delay them.

Gives accountants more time to do special tricks.

 

[Mouth of the South]

There are many reasons for doing this - as many for positive reasons as negative. By itself, there's really no reasons for any hares to be setting running.

 

[norfolkblade]

We knew the season was extended gave us more time.

This is bad news! They are trying to hide something what they are trying to hide I am not sure. The time frame to produce accounts is straight forward and it’s tactical to delay them.

Gives accountants more time to do special tricks.

What are these “special tricks” you speak of?

 

[jono_t2000]

What are these “special tricks” you speak of?

 

[S64 Blade]

When they’re 8 months overdue, I’ll start worrying.

 

[The Crab]

When they’re 8 months overdue, I’ll start worrying.

 

[gordoncharles]

There are many reasons for doing this - as many for positive reasons as negative. By itself, there's really no reasons for any hares to be setting running.

The positive reasons are what, exactly?

30th June is the natural year end for any professional football club

 

[Trigger Blade]

We knew the season was extended gave us more time.

This is bad news! They are trying to hide something what they are trying to hide I am not sure. The time frame to produce accounts is straight forward and it’s tactical to delay them.

Gives accountants more time to do special tricks.

This isn’t just football though is it? My company accounts are supposed to be submitted by end Jan, but we’ve been given an additional month “because of Covid” even though I didn’t think we needed it. My lazy accountant feels differently, I’m not expecting profitability to be affected either way.

 

[Trafford]

This is bad news! They are trying to hide something what they are trying to hide I am not sure. The time frame to produce accounts is straight forward and it’s tactical to delay them.

I think that you’re referring to the publication of accounts being delayed, not the year end being extended. In that situation I would agree that it is normally a warning sign but I don’t think that's the case in this instance.

The 19/20 season should have finished in April 2020 but was extended until the end of July, so retaining the original June 20 year end would have meant that the accounts didn’t capture a full season’s income & expenditure. This year’s would similarly capture more than one season, so it makes complete sense to extend the year end.

Panic over....

 

[Mouth of the South]

The positive reasons are what, exactly?

30th June is the natural year end for any professional football club

Most commonly done for fiscal reasons. In this case, the reasons Trafford mentions above are the most likely drivers.

 

[Houston_Blade]

I’d expect the pigs to see this information and eulogise about our impending financial doom and invent another one of those ‘soft embargoes’ that only they seemed privy to.

Could have been done for a lot of reasons and not necessarily anything dodgy about it.

 

[robbiez666]

Blatant attempt to bury Mousse's Deliveroo bill.

 

[norfolkblade]

View attachment 105866

Haha, I’m just always intrigued what people think us accountants can do just because a period has been extended. It’s actually quite a pain in the arse from my experience!

 

[Old Programme seller]

They could be extending the financial year in the hope of deferring tax payment, one of many accountancy legal tricks/practices

 

[jono_t2000]

Haha, I’m just always intrigued what people think us accountants can do just because a period has been extended. It’s actually quite a pain in the arse from my experience!

Eh cmon. My brother and old man are accountants. It's all automated through computer software these days. They both spend most of their time on the golf course (still charging by the hour of course) and letting the machines do the work