The Economist this week referred to the City's stock of 'due diligence accountants' being 'second to none'. The Economist clearly hasn't much first hand experience of the City's stock of due diligence accountants. Nevertheless, Excel Chimp salutes The Economist.
9 comments:
Is it wrong that all your accounting related innuendo gives me a woody?
Dear Friend,
This is not wrong, provided that you select an appropriate treatment and apply it consistently.
With very best wishes
Dear Tall Dog
I'm afraid aforesaid treatment yields what I call 'accummulated appreciation' with a large write down imminent.
How do I treat the resultant yield?
Well, under IFRS, that would be treated as a non-recurring operational outflow, which would have a dilutive effect, depending on the treatment of the disposal.
What about capitalisation of the proceeds as research and development? After all in some cases the aforementioned is indeed an essential element of organic growth (also it would bolster my balance sheet considerably as I have engaged in many similar transactions in the past - primarily a function of sole trading)
Hmm, I hadn't appreciated that you were such a committed sole trader.
I see where you're coming from with the capitalisation angle. The problem is, you'd have to retain the proceeds and subject them to regular impairment testing, which would increasingly unpleasant as the months roll by.
Although not strictly permissible under UK GAAP, I would strongly recommend the provision of a big bath immediately following the transaction, to clean up the books in a timely manner. You may have trouble getting it past the auditors, though.
So you're saying I should have a bath after every w*nk.
Your words, anon, not mine. You might try a joint venture, although these entail considerable downside risk over the medium term (new subsidiaries are expensive and time consuming)
I told her to shut up and sit down. Weird tosee that kind of thing in a combat uniform.
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I told her to shut up and sit down. Weird tosee that kind of thing in a combat uniform.
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