足球運(yùn)動(dòng)員人力資本作為資產(chǎn)計(jì)量的關(guān)鍵因素的案例研究外文翻譯(完整版)
【正文】 is intangible resource. Difficulties in this area are founded on problems of definition and recognition and the approach adopted has been to test the claims of this asset against the UK Accounting Standards Board criteria for definition and recognition of assets. By adopting this approach, the paper aims to demonstrate the argument for the conceptualization as an accounting asset of the services provided by a football player on behalf of the club holding his registration, and to identify the legal and economic realities that differentiate football players from other human resources. The paper secondly considers capitalization of the intangible under different accounting models, examining the validity of the usual distinction between purchased and internally developed intangibles. The paper does not seek to provide a plete measurement model for accounting ine, rather concentrating on the capitalized valuation of the intangible in the balance sheet. Morrow (1995) identified and evaluated three valuation methodologies appropriate to the human resource of football players39。s most popular professional sport, football, have not been as extensively researched. Contemporary work has been carried out in the area (Morrow, 1992, 1995。 Touche Ross, 1992, 1993, 1994), however most of the research has either been carried out some time ago (Dobbins and Trussel, 1975)。 services. Each model is either currently used in accounting practice by one or more clubs or in some form in the existing market place for players. In this paper these valuation methodologies are tested using case study data. A major Scottish club made available the sensitive information that was required to carry out the study. Other knowledgeable sources assisted as explained in the paper. VALUATION METHODOLOGIES Having demonstrated the case for definition and sufficiency of evidence for recognition, the next consideration is the method of valuation of such assets on the balance sheet and ensuring the reliability of measurement. Morrow (1995) evaluated three valuation methodologies appropriate to the human resource of football players39。000 163。s estimate of realizable value if appropriate. Due to its nature the value of a player must continually fluctuate. However, given the widely held belief that all players are for sale at the right price, if the directors believe on the basis of their experience of the market place that the book value is not recoverable, then an immediate write off is appropriate. From Table I it appears that several players have been subject to permanent diminution in value. One explanation for this is the conditions of reemployment imposed on clubs by the Scottish League, whereby when a player reaches the end of his contract his employer must either offer him a new contract on at least the same basic terms or alternatively set the player free to arrange the transfer of his own registration. In the climate of recession which applied at the time of the exercise, clubs were using the free transfer as a means of avoiding future costs for many players who they believed had a realizable value, but in respect of whom the risks of being unable to arrange a sale and thus having to continue to meet the salary costs were considered too high. EARNINGS MULTIPLIER: METHOD The multiplier valuation approach is used in practice by UEFA to value outofcontract players who are transferring between two clubs within Europe, where the clubs are unable to agree a fee in
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