The Messenger said:
I think his comment Pep gives us a pretty good idea of his of his accounting understanding and background ..
I wonder how many businesses each day receive payment in cash and somehow that is forgotten to be included in the accounting books. 
I wonder how many times services are exchanged as currency in real life ..
I wonder if a company owns multiple businesses like Hockey and Basketball and the Arena they play in.. When a sponsors sends in their money in order to have the owner put up his Nike or Ford banner in the arena .. I wonder if its perfectly legal to record that money against either Hockey or Basketball or Arena books? Whatever suits your financial means best?
Now, Massager, I have been advised by another poster that you claim to be an accountant in that big bad metropolis of Kelowna, where we know ALL the big deals are made.
Assuming that is the case, and that you are not actually a candidate for a grade ten Adult Education Diploma that I assumed you were, your post is actually very cleverly worded. You actually didn't come out and say that what I posted was incorrect, did you?
The fact is that I know and understand accounting principles very well. I am required to. My posting confirms that fact.
Secondly, receiving payments in cash or not has nothing to do with the discussion. There is no usggestion in this thread that underreporting of revenue will take place. The point was quite the opposite.
Thirdly, in order for players to agree to a linkage concept, there will need to be controls put in place, assumng they are not currently in place. Are you suggesting that the PA will go into a linkage deal that would permit NHL teams to skim gate receipts?
As for services in replacement of cash, or "payment in kind", that legally needs to be recorded in books as well and is taxable income. Otherwise, there is no ability to match revenue with expense - what is known as a red flag in the auditing business.
As for the assignment of revenue form signage, etc., again assumng you are not a grade ten candidate, you should be familiar with GAAP. A business is not entitled to assing revenue where it suits them. They are required to justify the assingment of the revenue.
As I said before, NHL teams have accounting firms sign off on their URO's. To state otherwise is false.
But then again, Massager, you didn't really say that, did you? You didn't really say anything about my original post. You just wrote a bunch of "I wonder" statements.
*Edited*
