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-在線瀏覽
2024-07-23 16:02本頁(yè)面
【正文】 d 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。 services, each of which either currently is used in accounting practice by one or more clubs, or is used in some form in the existing market place for players. In this section, information provided by a major club during a series of visits to the club is used to illustrate these methods, along with an additional method based on directors39。 valuation model (Method 3) in this case involves capitalizing the players at a value provided jointly by the Chairman and Manager. An independent multiple player evaluation model (Method 4), involves various informed and knowledgeable sources providing a value for the players of the club in question. This model is based on a model set out by Ogan (1977) for valuing US professional sports teams. HISTORICAL COST: METHOD Three Scottish clubs, Celtic, Heart of Midlothian and Rangers capitalize those players bought by the club on the transfer market at their cost of registration in their accounts. A survey of English clubs identified four clubs also following this accounting treatment (Touche Ross, 1994, ). The corresponding 1993 survey concluded that mercial logic supports a historical cost capitalization approach, given the value of current transfers and player squads (Touche Ross, 1993, ). Table I sets out the information that would be recorded for the case study club under this method: Table1. FIRST TEAM SQUAD HISTORICAL COST AT YEAR END 1993 COST OF REGISTRATION RESIDUAL VALUE PER UEFA COEFFICIENT FACTOR AMORTISATION CHARGE 1993 NET BOOK VALUE WRITE DOWN TO NET REALISABLE VALUE YEAR END BALANCE SHEET VALUE 163。000 163。000 163。000 1950 2624 88 1683 308 1375 In practice the cost of registration would be amortized over the length of a player39。s cost of registration has been amortized over the period since he joined the club until the end of his existing contract, consistent with the regular review and revision of the useful life of assets as suggested in SSAP 12, paragraph 18 (ASC, 1987). The residual value has been estimated using the Union of European Football Associations coefficient factor formula by reference to a player39。s earnings over the most recent season have been used within the multiplier formula to establish the residual value. Consequently the residual value of each player has been inflated and in many cases is considerably in excess of the acquisition cost. The use of the UEFA multiplier to establish residual values on this evidence, notwithstanding the distortion caused by using current earnings to calculate residual value mentioned above, would seem to be open to question. In all but
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