UCD finances

**Schumi** · 03/11/2009, 11:50 AM

Originally Posted by pineapple stu

We do pay an accountant to do our monthly accounts for licencing, by the way, just in case any think we get accounting undergrads to do it for us for free.

Not that the FAI would notice.

**pineapple stu** · 03/11/2009, 12:44 PM

Was actually thinking that. I know it's a relatively decent cost to get monthly accounts prepared and sent in* but you'd have to wonder what's the point if the FAI can't spot a Derry or Cork coming (or do anything about it if they do spot it) even while looking at their monthly accounts.

* I know we got fined once because we were late, but told the FAI where to go because they were told in advance that our accountant was on holidays, so we were going to be a couple of days late; in fact, I think we've wangled our way out of pretty much every silly FAI fine we've gotten

**Longfordian** · 03/11/2009, 2:36 PM

In fairness to the FAI they set up a template for the monthly accounts and you just have to follow those. Doesn't necessarily take an accountant to do it, somebody with a bit of basic book-keeping knowledge could do it. Though I believe we now have an accountant doing it he's doing it for a nominal fee or for free by all accounts (no bad pun intended).

**dynamo kerry** · 03/11/2009, 4:11 PM

Originally Posted by Longfordian

In fairness to the FAI they set up a template for the monthly accounts and you just have to follow those. Doesn't necessarily take an accountant to do it, somebody with a bit of basic book-keeping knowledge could do it. Though I believe we now have an accountant doing it he's doing it for a nominal fee or for free by all accounts (no bad pun intended).

there's penny pinching then there's just sillyness though.. is getting Jim from the bar to do the accounts something of a false economy.

Accountants are by nature conservative types - surely Irish footie clubs have financial directors or executive directors who are accountants?

**pineapple stu** · 03/11/2009, 4:13 PM

They may need to be externally done (and again, I don't know the exact requirements).

Two of our directors run businesses, so I assume they could get the books done up themselves, but I have heard them moaning about the extra expense it's brought. That's all I'm basing my comments on.

**Longfordian** · 03/11/2009, 4:31 PM

Originally Posted by dynamo kerry

there's penny pinching then there's just sillyness though.. is getting Jim from the bar to do the accounts something of a false economy.

Accountants are by nature conservative types - surely Irish footie clubs have financial directors or executive directors who are accountants?

OK, I'll rephrase that. I saw the set up for the monthly accounts last year and it's fairly basic, it's just columns of information with running totals. Obviously there needs to be preparatory work done to come up with the information, but this can usually be done by somebody within the club. For example the person doing ours at the time wasn't a fully qualified accountant but was well able to do them. They're not as detailed as the full end of year accounts in my view though I don't work in the accounting sphere.
Stu posted after I started my post but again as of last year there was no requirement for them to be externally done.

**Poor Student** · 03/11/2009, 7:47 PM

Originally Posted by pineapple stu

Was actually thinking that. I know it's a relatively decent cost to get monthly accounts prepared and sent in* but you'd have to wonder what's the point if the FAI can't spot a Derry or Cork coming (or do anything about it if they do spot it) even while looking at their monthly accounts.

* I know we got fined once because we were late, but told the FAI where to go because they were told in advance that our accountant was on holidays, so we were going to be a couple of days late; in fact, I think we've wangled our way out of pretty much every silly FAI fine we've gotten

In the absence of your proof of this I will retain my right to be of the opinion that the club uses the homeless man from the UCD restaurant to do our accounts and reserve the right to perpetuate this in the absence of cold proof of anything one way or another.