Lockout VII: I've walked for miles, my feet are hurting
View Single Post
01-05-2013, 08:26 PM
Join Date: Feb 2004
Originally Posted by
Under an audit, the related party transactions would be duly noted. Therefore, hardly 'fantasy'.
Only if you're using US Generally Accepted Accounting Principles (aka what they'd be using if the hawks were a publicly listed entity). Since they're not, they could be using any criteria for their accounting.
I suspect - and this is just a guess - that they are using the definition of hockey related revenue as noted in the CBA (for revenue). For costs - they can come up with whatever definition they want for their auditors to use (since its not in the CBA). Debt service costs (regardless of related party) would probably fall under that...
View Public Profile
The Legend's albums
Find More Posts by The Legend