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PFAB (Portugal Football Association Board) is recognized as a non-profit
organization. The main objective of association is to uplift the
performance of its national football team and promote this game in the
country. However, other responsibilities are also include the making of
effective decisions with regard to managerial and financial domains. As a
non-profit organization, it is also responsible to publish its
financial statements in accordance with International Accounting
Standards and Local Laws. “Christiano Ronaldo” is
one of the world’s renowned and star footballers of Portuguese team
which enabled the association to generate huge funds by using his fame.
He has announced to retire soon after “FIFA World Cup 2010” held in
South Africa.

You are required to identify whether this information is relevant to
disclose when PFAB will publish its financial statements as annual
report or not? Your comments must be confined in two lines.    

answer it plz
i think it is not to disclose because it is not an financial entry that we disclose it in financial statments

Views: 184

Replies to This Discussion

In my opinion this information is relevant to disclose because it is material and will be useful for the users of financial statements
but yar problem is that financial statment are in terms of values so what a value will be attached?
information regarding the retirement of C.R 10 (if this is true, i hope he don't) should be disclosed (it may result in financial crisis for the organization, but nondisclosure of this information will be unethical, and may result in information asymmetry, which further result in making wrong decisions, and can affect the financial conditions of other stakeholders).
In My opinion this information is material and should be disclosed to the financial statement and as we know from the Info that Chiristino Ronaldo is helpful in generating funds from his fame to the PFAB. Non Disclosure will affects the finacial statements of the PFAB. As most of the non Profit Org. Disclose the material info. like less donation due to catostrophy and donor's iability etc. such like this Info. is also neccessory, So that in the notes to the financial statement that info should be disclosed.
Thanks And Regards,
Gud »✖ohaib« keep it up :-)


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