1、本科毕业论文（设计） 外 文 翻 译 原文 ： Football Players as Human Assets. Measurement as the Critical Factor in Asset Recognition: A Case Study Investigation The system, he Charlie Sear, PFA Secretary 1898 continued, caused players to appear as prospectuses, as more or less valued assets of a limited liability comp
2、any. It had destroyed the old personal bond of friendly feeling between us and club managers .and brought the latter to regard us as chattels to be bought and sold. .We have to thank the transfer system for bringing us down to the level of beasts in the market place. The commodity - the player - has
3、 no locus standing (Harding 1991,).Important differences between professional sportsmen and other employees are well documented by human resource accounting academics. In the United States many authors have considered the issue in detail while throughout the world many authors make passing reference
4、 to professional sport (for example, Johanson, 1991, Hekimian and Jones, 1967, Dyson, 1992). Surprisingly human resource accounting issues within the UKs most popular professional sport, football, have not been as extensively researched. Contemporary work has been carried out in the area (Morrow, 19
5、92, 1995； Touche Ross, 1992, 1993, 1994), however most of the research has either been carried out some time ago (Dobbins and Trussel, 1975)； been mentioned within a more general article concerning football finance (Temple, 1991) or been concerned with some specialized aspect of the subject, for exa
6、mple consideration of clubs recruitment policies as investment decisions (Sutherland, 1986), or the operation of the transfer system and its implications for players (Sloane, 1969； Stewart, 1986； Moorhouse, 1992). Human resource accounting since the 1960s has been dominated by two issues - firstly,
7、can human resources be satisfactorily defined and recognized as accounting assets and secondly, can a satisfactory valuation methodology be provided to reflect those assets. In this paper both these issues are addressed in the context of one particular type of human resource. The paper firstly consi
8、ders whether an accounting asset is created by virtue of the fact that a club holding a players registration has the rights to the services provided by that player. It is intuitively appealing to think of football players as assets: other than a clubs ground or facilities they are often the only ite
9、m of value to a club. Robinson (1969) argues that the main difference between investment in humans and investment in property lies in the fact that the earning power of an individual, unlike that of property, is not a saleable commodity. The transfer system in which players at all levels of the game
10、 are bought and sold is an exception to this rule. The historical roots of this transfer system can be traced to a clause inserted in the regulations of the English Football Association in 1885 which required all players to be registered annually with the association. The clause, which was designed
11、to prevent the poaching of players or players club-hopping, instead resulted in the registration becoming something to be bought and sold in its own right (Miller, 1993). It is not however, the player himself who is the asset, but rather the provision of services, although as noted in the Chester Re
12、port of the Committee on Football, this distinction is somewhat technical. The transaction may be wrapped up in the jargon of registrations, but in effect it is payment for a man. (Department of Education and Science, Point 286, 1968). The approach adopted in this paper is based on that used by Barw
13、ise et al (1989) in examining the issue of accounting for brands. The paper first examines the fun-dementia issues of accounting for an intangible asset, namely the services provided by a football player on behalf of the club holding his registration. Webb and Broadbent (1986) have identified where
14、the information requirements of parties interested in the financial affairs of football clubs differ from those of orthodox commercial organizations. This paper contends that those requirements are not being addressed in respect of this intangible resource. Difficulties in this area are founded on p
15、roblems of definition and recognition and the approach adopted has been to test the claims of this asset against the UK Accounting Standards Board criteria for definition and recognition of assets. By adopting this approach, the paper aims to demonstrate the argument for the conceptualization as an
16、accounting asset of the services provided by a football player on behalf of the club holding his registration, and to identify the legal and economic realities that differentiate football players from other human resources. The paper secondly considers capitalization of the intangible under differen
17、t accounting models, examining the validity of the usual distinction between purchased and internally developed intangibles. The paper does not seek to provide a complete measurement model for accounting income, rather concentrating on the capitalized valuation of the intangible in the balance sheet
18、. Morrow (1995) identified and evaluated three valuation methodologies appropriate to the human resource of football players services. Each model is either currently used in accounting practice by one or more clubs or in some form in the existing market place for players. In this paper these valuati
19、on methodologies are tested using case study data. A major Scottish club made available the sensitive information that was required to carry out the study. Other knowledgeable sources assisted as explained in the paper. VALUATION METHODOLOGIES Having demonstrated the case for definition and sufficie
20、ncy of evidence for recognition, the next consideration is the method of valuation of such assets on the balance sheet and ensuring the reliability of measurement. Morrow (1995) evaluated three valuation methodologies appropriate to the human resource of football players services, each of which eith
21、er currently is used in accounting practice by one or more clubs, or is used in some form in the existing market place for players. In this section, information provided by a major club during a series of visits to the club is used to illustrate these methods, along with an additional method based o
22、n directors valuation. The historical cost model (Method 1), involves capitalizing players acquired by the club via the transfer market on the balance sheet at their cost of registration. The earnings multiplier model (Method 2), involves applying a multiplier to a players earnings to produce a current valuation of that player. The directors valuation model (Method 3) in this case involves capitalizing the players at a value provided jointly by
