- Mar 15, 2015
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- #81
Agreed, but it goes deeper than that very often.
Sadly, you have to be able to read and understand balance sheets as well as P&L accounts to understand how rich a company is, and I’ve never yet seen a report in a newspaper or anywhere else that does that properly. Most of the financial reporting we see, even (or especially) the Deloittes tables, is laughably superficial.
As an accountant, id say i know a thing or two about that. The deloitte money report tells you enough with turnover and wages to turnover to make a decent assumption on how rich a club is.
most clubs use 50% as a guideline.