07-07-2010, 12:53 PM
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.
Solution For Idea:
In my opinion this information is relevant to disclose because it is material and will be useful for the users of financial statements
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.
Solution For Idea:
In my opinion this information is relevant to disclose because it is material and will be useful for the users of financial statements