It is strangely true that this report brought clarity to the world in terms of revenue, sadly it does not highlight the profitability.. guess it is not concerns for most auditors and consultants!?
Of course, it has not relationship with real reason for the report, PR, excuse to be closer to those has most cash and hence maybe more audit & advisory work.. and highlighting profitability just might not make sense, lets not annoy future and/or existing customers!?
below's blog post is interesting to read for sure.. :
“Revenue is vanity, profit is sanity, cash is reality.”
To help maintain some sanity on FML day, here are some figures for 2009/10 for the seven English clubs who appear in the Top 20 of the FML.
* Arsenal turnover excludes property development
** Liverpool figures assume flat costs on 2008/09 and are proforma to exclude all interest payments (to reflect pay down of debt)
*** Villa figures assume flat costs on 2008/09"
To help maintain some sanity on FML day, here are some figures for 2009/10 for the seven English clubs who appear in the Top 20 of the FML.
* Arsenal turnover excludes property development
** Liverpool figures assume flat costs on 2008/09 and are proforma to exclude all interest payments (to reflect pay down of debt)
*** Villa figures assume flat costs on 2008/09"
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