IFRS and football finance

What do the IFRS Interpretations Committee do?

Translate accounting standards into global languages

Respond to questions regarding the application of accounting standards

Issue new accounting standards

Obtain funding for future IFRS projects

What set of rules deal with the financial state of football in Europe?

Level playing field rules

Financial Fair Play

Football fairness

Equitable finance project

The majority of footballers currently accounted for under which standard?

Off-balance sheet

IAS 38

IAS 2

IFRS 15

Which, if any, of the following statements is/are correct? Statement 1: -Sales of players are currently regarded as a disposal of a non-current asset, or Statement 2 - Cash flows from the disposals will be shown in investing activities

Neither statement

Statement 2 only

Both statements

Statement 1 only

Which of the following represents the specific decision reached by the Committee?

The proceeds should be recorded in revenue

None of the above

Only the gain on disposal should go into the statement of profit or loss

The gain on disposal should be deferred over the remaining life of the contract

How much would be able to be recorded in revenue in respect of the disposal queried?

The gain on disposal

The selling price divided by the contract length

The selling price

Nothing

What is the only circumstance that a player sale could be recorded in revenue?

None of the above

If the registration right was held as an intangible

If the registration right was previously unrecognised

If the registration right was held in inventory

Which, if any, of the following statements is correct? Statement 1 - A registration right can only be recorded in inventory if the plan upon acquisition is to sell the player on, or Statement 2 - All registration rights can be recorded in inventory for all clubs

Both statements are correct

Statement 2 only is correct

Neither statement is correct

Statement 1 only is correct

If registration rights were held as inventory, what would the impact on the statement of profit or loss be?

There would be no amortisation recorded

Revaluation gains would occur more frequently

Gains or losses on disposal would be shown as exceptional items

There would be no impact

Which, if any, of the following statements is/are true? Statement 1 - If accounted for as inventory, the registration may hold its value longer, or Statement 2 - Revaluation of registrations is currently not likely under IAS 38 rules

Statement 1 only

Neither statement

Statement 2 only

Both statements

IFRS and football finance

What do the IFRS Interpretations Committee do?

What set of rules deal with the financial state of football in Europe?

The majority of footballers currently accounted for under which standard?

Which, if any, of the following statements is/are correct? Statement 1: -Sales of players are currently regarded as a disposal of a non-current asset, or Statement 2 - Cash flows from the disposals will be shown in investing activities

Which of the following represents the specific decision reached by the Committee?

How much would be able to be recorded in revenue in respect of the disposal queried?

What is the only circumstance that a player sale could be recorded in revenue?

Which, if any, of the following statements is correct? Statement 1 - A registration right can only be recorded in inventory if the plan upon acquisition is to sell the player on, or Statement 2 - All registration rights can be recorded in inventory for all clubs

If registration rights were held as inventory, what would the impact on the statement of profit or loss be?

Which, if any, of the following statements is/are true? Statement 1 - If accounted for as inventory, the registration may hold its value longer, or Statement 2 - Revaluation of registrations is currently not likely under IAS 38 rules

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