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Financial Reporting in European Football Teams: A Disclosure Analysis of Player Registrations

Gazzola, P, Amelio, S and Papagiannis, F Financial Reporting in European Football Teams: A Disclosure Analysis of Player Registrations. International Journal of Accounting, Auditing and Performance Evaluation. ISSN 1740-8008 (Accepted)

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Abstract

Purpose – This paper critically analyses sustainable reporting and transparent valuation of the impairment test application (IAS 36) on intangible assets (IAS 38) in football clubs that prepare financial statements in accordance with IAS/IFRS.
Design/methodology/approach – The paper examines the financial statements of 13 companies listed on the STOXX Europe Football Index for a five-year period (from 2012 to 2016), following a three-step procedure. It focuses on the governing guidelines’ implementation relating to the UEFA Financial Fair Play Regulations (in September 2009), which was subsequently implemented in 2011/2012.
Findings – The research reveals some interesting and some controversial findings. Several football clubs exhibit a low level of disclosure and others a high one. Therefore, this study focuses on specific areas that primarily relate to economic and financial communication, as financial statements need to provide contextual disclosure. Simultaneously, the information disclosed to investors underlines the need for sustainable financing and social decision-making.
Research limitations/implications – The first limitation of the study regards the sample size; the number of observations is rather small given the exclusion of Turkish and Polish teams due to non-integral application of IAS/IFRS principles as well as other small-sized companies that do not fit the required company profile. The second limitation is that the players’ registration figures are analysed as aggregate values from a club-level perspective.
Originality/value – The study pioneers constructive criticism in relation to financial documentation and reporting produced by football companies. IAS/IFRS require further development in order to adapt typologies of specific sustainable business models for all the companies in the football industry.

Item Type: Article
Uncontrolled Keywords: 1501 Accounting, Auditing and Accountability
Subjects: H Social Sciences > HF Commerce > HF5001 Business
H Social Sciences > HF Commerce
G Geography. Anthropology. Recreation > GV Recreation Leisure > GV561 Sports
Divisions: Business & Management (new Sep 19)
Publisher: Inderscience
Date Deposited: 27 Jan 2020 10:05
Last Modified: 27 Jan 2020 10:15
URI: http://researchonline.ljmu.ac.uk/id/eprint/12101

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