Discusión crítica sobre la valoración de los activos mas relevanters en los clubes de futbol: Visión de auditores
Critical discussion regarding the valuation of the most relevant assets in soccer clubs: Auditors´insights
Resumen
Este artículo demuestra que, según las NIC/NIIF actuales, los activos más relevantes de todos los clubes de fútbol profesionales al final del año, los denominados "Derechos de Traspaso de Jugadores", pueden medirse y divulgarse a su valor razonable. La investigación se basó en un enfoque de triangulación. En primer lugar, se realizó una discusión teórica sobre la viabilidad de la contabilidad a valor razonable en comparación con la contabilidad a coste histórico, que actualmente se aplica. En segundo lugar, se analizó en profundidad una técnica de evaluación extracontable, utilizada esporádicamente por los clubes. En tercer lugar, se realizó un trabajo de investigación cualitativa, que incluyó encuestas y entrevistas a auditores externos de estados financieros de los clubes de fútbol. El trabajo realizado evidencia cuán poco fiables son las cifras de estos intangibles de los clubes de fútbol en sus estados financieros y, en consecuencia, la falta de transparencia generada al aplicar la inadecuada valoración contable actual. También evidencia la necesidad de aplicar una técnica de valoración externa válida y factible a valor razonable, que cumpla con los requisitos de las NIIF. Como contribución novedosa, se sugiere una propuesta de valoración y divulgación, que podría resolver esta deficiencia contable actual, ayudando no sólo al proceso de toma de decisiones de las partes interesadas en los clubes de fútbol, sino también a la UEFA en su regulación "Financial Fair Play"1 para controlar las finanzas de los clubes.
Descargas
Citas
Allen, F., & Carletti, E. (2008). Mark-to-market accounting and liquidity pricing. Journal of Accounting and Economics. 45 (2-3), 358-378. https://doi.org/10.1016/j.jacceco.2007.02.005
Amir, E., & Livne, G. (2001). Accounting for Human Capital When Labor Mobility is Restricted. London Business School Accounting Subject Area No. 002, Cass Business School Research Paper, Available at SSRN: https://ssrn.com/abstract=202328 or https://doi.org/10.2139/ssrn.202328
Amir, E., & Livne, G. (2005). Accounting, Valuation and Duration of Football Player Contracts. Journal of Business Finance & Accounting, 32 (3-4), 549-586. https://doi.org/10.1111/j.0306-686X.2005.00604.x
Ayres, L. (2008). Semi-Structured Interview. The SAGE Encyclopedia of Qualitative Research Methods. 811-812. Thousand Oaks, CA: SAGE Publications.
Barth, M. E., & Landsman, W. R. (2010). How did Financial Reporting Contribute to the Financial Crisis? European Accounting Review,19 (3), 399-423. https://doi.org/10.1080/09638180.2010.498619
Barajas, A. (2002). Professional Football and Stock Exchange: Experience in several European Leagues. Communication at 10th EASM Congress, Jyvaskyla (Finland).
Barajas, A. (2004). Modelo de Valoración de clubes de fútbol basado en los factores claves de su negocio, Doctoral Thesis, 2004. MPRA Paper13158. Munich, Germany: University Library of Munich. Available at https://mpra.ub.uni-muenchen.de/13158/1/MPRA_paper_13158.pdf
Barker, R., & Schulte, S. (2017). Representing the market perspective: Fair value measurement for Non-financial assets. Accounting, Organizations and Society, 56, 55–67. https://doi.org/10.1016/j.aos.2014.12.004
Bengtsson, W. (2014). Accounting and disclosure of football player registrations: Do they present a true and fair view of the financial statements? Master’s thesis. Jönkoping University. Available at https://www.diva-portal.org/smash/get/diva2:721716/FULLTEXT01.pdf
Biancone. P. (2011). Intangible Assets in the Sport Industry: the valuation of multiannual rights to exploit the performance of professional footballers. GSTF Business Review, (CBR), 1 (1), 57.
Bryman, A. (2012). Social Research Methods. Oxford, UK: Oxford University Press.
Carmichael, F., & Thomas, D. (1993). Bargaining in the transfer market: theory and evidence. Applied Economics, 25(12), 1467-1476. https://doi.org/10.1080/00036849300000150
Carmichael, F., Forrest, D., & Simmons, R. (1999). The Labour Market in Association Football: Who gets transferred and for how much? Bulletin of Economic Research, 51, (2), 125-150. https://doi.org/10.1111/1467-8586.00075
Cannon, N., & Bedard, J.C. (2016). Auditing Challenging Fair Value Measurements: Evidence from the Field. The Accounting Review, 92 (4), 81-114. https://doi.org/10.2308/accr-5156
Cañibano, L., & Gisbert, A. (2008). Los intangibles en la regulación contable. Madrid, Spain: AECA.
Chen, C.-S. (2016). The effect of mandatory disclosure requirements and disclosure types of auditor fees on earnings management: Evidence from Taiwan. Asia Pacific Management Review, 21(4), 181–195. https://doi.org/10.1016/j.apmrv.2015.12.002
Chesaina, R. (2018). Should European Football Clubs use Fair Values to account for players contracts? Research Report for the degree of Master Commerce. Johannesburg, South Africa: University of Witwatersrand. Available at https://wiredspace.wits.ac.za/server/api/core/bitstreams/e5f2865d-7766-45b4-ab49-e604dd3163e8/content
Coluccia, D., Fontana, S., & Solimene, S. (2018). An application of the option-pricing model to the valuation of a football player in the “Serie A League”. Int. J. Sport Management and Marketing, 18(1/2), 155-168. https://doi.org/10.1504/IJSMM.2017.10012018
Dawson, P., Dobson, S., & Gerrard, W. (2000). Estimating Coaching Efficiency in Professional Team Sports: Evidence from English Football Association. Scottish Journal of Political Economy, 4 (4) 399-421. https://doi.org/10.1111/1467-9485.00170
Dias Da Silva Rodrigues, F., Cañibano, L., & da Costa Carvalho (2008). La Incidencia de los activos intangibles en las S.A.D. cotizadas. Una aplicación de los modelos de Ohlson y Feltham-Ohlson. Revista Española de Financiación y Contabilidad, 139, 603-605.
Desai, N., & Nagar, N. (2016). A research note: Are auditors unable to detect classification shifting or merely not willing to report it? Evidence from India. Journal of Contemporary Accounting & Economics, 12(2), 111–120. https://doi.org/10.1016/j.jcae.2016.06.002
Eriksson, P., & Kovalainen, A. (2008). Qualitative Methods in Business Research. London, UK: SAGE Publications Ltd.
Etikan, I., Musa, S. A., & Alkassim, R. S. (2016). Comparison of Convenience Sampling and Purposive Sampling. American Journal of theoretical and Applied Statistics, 5 (1),1-4. https://doi.org/10.11648/j.ajtas.20160501.11
Firmin, M. (2008). Unstructured Interview. The SAGE Encyclopedia of Qualitative Research Methods. 907-908. Thousand Oaks, CA: SAGE Publications.
Flamholtz, E. (1999). Human resource accounting. Advances in Concepts, Methods and Applications (Third Edition). Norwell, Massachusetts, USA: Kluwer Academic Publishers.
Garcia del Barrio, P., & Pujol, F. (2016). Economic evaluation of football players through media value. Research paper series, 9 (3). Birbeck, UK: University of London.
Grojer, J.E., & Johanson, U. (1991). Human costing resource and accounting. Stockholm, Sweden: Arbetarskyddsnamndem.
Heaton, J.C., Lucas, D., & McDonald, R.L. (2010). Is mark-to-market accounting destabilising? Analysis and implications for policy. Journal of Monetary Economics, 57 (1), 64-75. https://doi.org/10.1016/j.jmoneco.2009.11.005
Hoque, Z., & Hopper, T. (1997). Political and industrial relations turbulence, competition and budgeting in the nationalised jute mills in Bangladesh. Accounting and Business Research, 27(2), 125-143. https://doi.org/10.1080/00014788.1997.9729539
Hoque, Z. (2006). Triangulation approaches to Accounting Research. In Z. Hoque (Ed.), Methodological Issues in Accounting Research: theories, methods and issues (Chapter 23). London, UK: Spiramus Press.
Hoque, Z., Covaleski, M. A., & Gooneratne, T. N. (2013). Theoretical triangulation and pluralism in research methods in organizational and accounting research. Accounting, Auditing and Accountability Journal, 26 (7), 1170-1198. https://doi.org/10.1108/AAAJ-May-2012-01024
International Auditing and Assurance Standards Board (IAASB) (2009). International Standard on Audit 210: Overall objectives of the independent auditor.
International Auditing and Assurance Standards Board (IAASB) (2009). International Standard on Audit 540: Auditing accounting estimates, including fair value accounting estimates and related disclosures.
International Accounting Standards Board (IASB) (2004). International Accounting Standard 36, Impairment of assets, and International Accounting Standard 38, Intangible assets. London, UK: International Accounting Standards Board.
International Accounting Standards Board (IASB) (2012). International Financial Reporting Standard 13: Fair value measurements. London, UK: International Accounting Standards Board.
Instituto de Contabilidad y Auditoría de Cuentas (ICAC) (2015). NIA-ES 540, Norma Técnica de Auditoría sobre el valor razonable. Madrid, Spain: ICAC.
Jönsson, F., Johansson, K., & Aronsson, S. (2004). Accounting for football – let’s give it a shot. A delineation of financial statements within Swedish football clubs. Göteborg, Sweden: University of Göteborg. Available at https://gupea.ub.gu.se/bitstream/handle/2077/1571/03-04-107.pdf?sequence=1&isAllowed=y
Kerlinger, F. (1997). Investigación del comportamiento. México D.F., México: McGrawHill.
Kulikova, L.I., & Goshunova, A.V. (2014). Human Capital Accounting in Professional Sport: Evidence from Youth Professional Football. Mediterranean Journal of Social Sciences, 5(24), 44. https://doi.org/10.5901/mjss.2014.v5n24p44
Laux, C., & Leuz, C. (2009). The Crisis of Fair-Value Accounting: Making Sense of the recent Debate. Accounting, Organizations and Society, 34, 826-34. https://doi.org/10.1016/j.aos.2009.04.003
Laux, C., & Leuz, C. (2010). Did Fair-Value Accounting Contribute to the Financial Crisis? Journal of Economic Perspectives, 24, (1), 93–118. https://doi.org/10.1257/jep.24.1.93
Laux, C. (2012). Financial instruments, financial reporting and financial stability, Accounting and Business Research, 42 (3), 239-260. https://doi.org/10.1080/00014788.2012.681857
Livne, G. (2014). Accounting for Human Capital. In C. L. Cooper (Ed.), Wiley Encyclopedia of Management. Chichester, West Sussex, United Kingdom: Wiley.
Magnis, C., & Iatridis, G. E. (2017). The relation between auditor reputation, earnings and capital management in the banking sector: An international investigation. Research in International Business and Finance, 39, Part A, 338–357. https://doi.org/10.1016/j.ribaf.2016.09.006
Martín-Lozano, F.J. (2016). Doctoral Thesis: Discusión crítica sobre valoración y revelación contable de “los Derechos de Traspaso” de los jugadores profesionales en las SAD/clubes de futbol. Seville, Spain: University of Seville
Martín-Lozano, F.J., & Carrasco, A (2011). Deficits of accounting in the valuation of rights to exploit the performance of professional players in football clubs: Case Study. Journal of Management Control, 22, 335–357. https://doi.org/10.1007/s00187-011-0135-6
Menicucci, E. (2015). Fair Value Accounting: Key Issues Arising from the Financial Crisis. New York, USA: Palgrave Mcmillan.
Michie, J., & Verma, S. (1999a). Accounting for Footballers and Football Clubs. London, UK: Birbeck College Football Governance Research Centre.
Michie, J., & Verma, S. (1999b). Corporate Governance and Accounting Issues for Football Clubs. London, UK: Birkbeck College Football Governance Research Centre.
Modell, S. (2005). Triangulation between Case Study and Survey Methods in Management Accounting Research: An Assessment of Validity Implications. Management Accounting Research, 16, 231-254. https://doi.org/10.1016/j.mar.2005.03.001
Mora, A., Barth, M.E., McGeachin, A., Barker, R., Wagonhofer, A., & Joos, P. (2019). Fair Value Accounting: The Eternal Debate. Accounting in Europe, 16 (3), 237-255. https://doi.org/10.1080/17449480.2019.1664754
Morrow, S. (1992). Putting people on the balance sheet: HRA applied to professional football clubs, Royal Bank of Scotland Review, 174, 10-19.
Morrow, S. (1995). Recording the human resource of football players as accounting assets: establishing a methodology, Irish Accounting Review, 2 (1), 115-132.
Morrow, S. (1996). Football players as human assets. Measurement as the critical factor in asset recognition: a case study investigation. Journal of Human Resource Costing & Accounting, 1 (1), 75-97. https://doi.org/10.1108/eb029024
Morrow, S. (2005). The Business of Football: Image Management in Narrative Communication. Edinburgh, UK: Institute of Chartered Accountants of Scotland.
Morrow, S. (2013). Football club financial reporting: time for a new model? Sport, Business and Management: An International Journal, 3(4), 297-311. https://doi.org/10.1108/SBM-06-2013-0014
Nuta, F.M. (2015). Fair Value Accounting Crisis Debate-A review. Annals-Economy Series, 1, 136-139.
Oprean, V., & Oprisor, T. (2014). Accounting for soccer players: capitalization paradigm vs. Expenditure. Procedia Economics and Finance, 15, 1647-1654. https://doi.org/10.1016/S2212-5671(14)00636-4
Pavlović, V., Milačić, S., & Ljumović, I. (2014). Controversies about the Accounting Treatment of Transfer Fee in the Football Industry. Management: Journal Of Sustainable Business And Management Solutions In Emerging Economies, 19(70), 17-24. https://doi.org/10.7595/management.fon.2014.0001
Plantin, G., Sapra, H., & Shin, H. S. (2008). Marking-to-Market: Panacea or Pandora’s Box? Journal of Accounting Research, 46(2), 435–460. http://www.jstor.org/stable/40058101
Plantin, G., Sapra, H., & Shin, H.S. (2008b). Fair Value Accounting and Financial Stability. Chicago GSB Research Paper No. 08-15. Available at SSRN: https://ssrn.com/abstract=1275395 or https://doi.org/10.2139/ssrn.1275395
Risaliti, G., & Verona, R. (2013). Players’ registration rights in the financial statements of the leading Italian clubs. Accounting, Auditing and Accountability Journal, 1, 16-47. https://doi.org/10.1108/09513571311285603
Ryan, B., Scapens, R., & Theobald, M. (2002). Research Method and Methodology in Finance and Accounting, 2nd ed. London, UK: Dexter Haven Associates.
Ryan, S.G. (2008). Accounting in and for the subprime crisis. The Accounting Review, 83, 1605-1638. https://www.jstor.org/stable/30243808
Suddaby, R., Cooper, D. J., & Greenwood, R. (2007). Transnational regulation of professional services: Governance dynamics of field level organizational change. Accounting, Organizations and Society, 32(4-5), 333-362. https://doi.org/10.1016/j.aos.2006.08.002
Tunaru, R., Clark, E., & Viney, H. (2005). An Option Pricing Framework for Valuation of Football Players. Review of Financial Economics, 14, 281-295. https://doi.org/10.1016/j.rfe.2004.11.002
Véron, N. (2008). Fair Value Accounting is the Wrong Scapegoat for this Crisis. Accounting in Europe, 5 (2), 63-69. https://doi.org/10.1080/17449480802510542
Yang, D., & Sonmmez, M.(2005). Intangible Balls. Business Strategy Review,16(2), 9-44. https://doi.org/10.1111/j.0955-6419.2005.00361.x
Zéghal, D., & Maaloul, A. (2011). The Accounting treatment of intangibles-A critical review of the literature. Accounting Forum, 35, (4), 262-274. https://doi.org/10.1016/j.accfor.2011.04.003
Derechos de autor 2023 Revista de Contabilidad - Spanish Accounting Review
Esta obra está bajo una licencia internacional Creative Commons Atribución 4.0.
Las obras que se publican en esta revista están sujetas a los siguientes términos:
1. Ediciones de la Universidad de Murcia (EDITUM) y ASEPUC conservan los derechos patrimoniales (copyright) de las obras publicadas, y favorece y permite la reutilización de las mismas bajo la licencia de uso indicada en el punto 2.
2. Las obras se publican en la edición electrónica de la revista bajo una licencia de Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Internacional. Permite copiar, distribuir e incluir el artículo en un trabajo colectivo (por ejemplo, una antología), siempre y cuando no exista una finalidad comercial, no se altere ni modifique el artículo y se cite apropiadamente el trabajo original. Esta revista no tiene tarifa por la publicación Open Access. ASEPUC y EDITUM financian los costes de producción y publicación de los manuscritos.
3. Condiciones de auto-archivo. Se permite y se anima a los autores a difundir electrónicamente la versión publicada de sus obras, ya que favorece su circulación y difusión y con ello un posible aumento en su citación y alcance entre la comunidad académica.
