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Putting my bean counter hat on here if someone invests in a business whether it be a gift or a loan it can't be in included as turnover it's merely recorded as a capital asset for the company.

 

A way round it and I would imagine the way round this for most is if the money is recorded as sponsorship I.e. Owner sponsors ground for £X although I believe at Uefa level atleast this is scrutinised.

I don't think GAAP applies, this is for a specific purpose rather than preparing financial statements. But I'm not an expert. Just going by other sources which unless I misread stated that gifts are acceptable.

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i wonder if his departure would've opened the door not just for Dunn but Whatmore as a direct replacement.

we may never know....

Word on the grapevine is Watmore will be seeing first team action this season at Sunderland.
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Putting my bean counter hat on here if someone invests in a business whether it be a gift or a loan it can't be in included as turnover it's merely recorded as a capital asset for the company.

 

A way round it and I would imagine the way round this for most is if the money is recorded as sponsorship I.e. Owner sponsors ground for £X although I believe at Uefa level atleast this is scrutinised.

 

I always use Hartlepool FC's FAQ on the SCMP which has proven to be very useful, it says:

 

'Any donation to a club can be included in the turnover figure, as long as when the money is given there is no expected repayment by the donor – clubs can’t rely on large cash loans to include in their income.'

Read more at http://www.hartlepoolunited.co.uk/news/article/060613-scmp-summary-857120.aspx#KGOhfBYOtetlCtvI.99

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