Profit Account for November & December 2011

Evekill statistics for Nov/Dec 2011:

• Kills: 55
• ISK destroyed: 5.56 billion
• Losses: 6
• ISK lost: 0.15 billion
• Efficiency: 97.3%
• Kill/Death ratio: 9/1

Battleclinic Rank: 22,103 (+1,654)

As I mentioned last month, problems with the patch prevented me from selling my loot, making any accounts I prepared for the that month and this misleading. Instead, I decided to roll them together into a single accounting period, so that the discrepancies cancel each other out.

Given that these accounts cover a two month period, my kills are fairly low, but then I was unable to log on at all for two weeks, and then holidays also cut into my play time. I'm pleased with the efficiency I maintained, however. Battleclinic API reader has not yet picked up my last four kills, so my rank is lagging a little.

October's figures can be found here.

Schedule of Income

Solo Income

Dropped modules and other loot

ISK 75,956,248

Ransoms

ISK 8,000,000

Jimmy English (ISK 5,000,000)

Shin VanKaundur (ISK 3,000,000)

Total Solo Income

ISK 83,956,248

Group Income

Dropped modules and other loot

ISK 203,000,000

Malediction et alia v Vargur (ISK 190,000,000)
Purifier 1.3 (ISK 13,000,000)

Ransoms

Nil.  

Nil.

Total Group Income

ISK 203,000,000

Total Income

ISK 286,956,248

Schedule of Expenses

Solo Expenses

Reasonable losses (see note 1)

ISK 47,542,568

Malediction (ISK 14,535,324) - Malediction v Bellicose.

Vengeance (ISK 33,007,244) - Vengeance v Bellicose.
 

Avoidable losses (see note 2)

Nil.

Nil.

Other expenses

ISK 609,323

Repairs (ISK 517,523)

Ransom CSPA (ISK 11,800)

Contract fees (ISK 80,000)

Total Solo Expenses

ISK 48,151,891

Group Expenses

Reasonable losses (see note 1)

ISK 30,410,648

Malediction (ISK 14,535,324) - Malediction v Harbinger; disposable fleet tackler.
Malediction (ISK 14,535,324) - Malediction v Bubble Camp; trying to get home after roam. 
Pod (ISK 1,340,000) - See above Bubble Camp.

Avoidable losses (see note 2)

ISK 25,614,150

Purfier (ISK 25,614,150) - Fleet Purifier; small micro error at wrong time.

Total Group Expenses

ISK 56,024,798

Total Expenses

ISK 104,176,689

Schedule of Profit (Loss)

Total Income

ISK 286,956,248

Less

Total Expenses

ISK 104,176,689

Net Profit (Loss) (see note 3)

ISK 182,779,559

Appendix 1: Comments & Criticism

Another month, another profit. And what a profit! I've already spent most of it, buying a Drake, a Caracal and a handful of Crows. It's allowed me to splurge a little on some Caldari ships, and start the new year off on the right foot!

That said, I was lucky. I would have ended the year with quite the loss if not for the fluke Vargur kill that covered my losses - and then some!

Still, I'll not complain about a little good luck.

Income

Aside from the Vargur, my profit arose mostly from my solo exploits; the usual collection of loot and salvage that I haul back to Jita. I like to think that there are a few items that keep finding their way back to me; sort of a lucky penny, if you will.

I did manage to pick up a few very small ransoms, which was nice. While not the big bucks, getting ransoms at all is a pretty good feeling, and if I go too long without finding a ransom I worry that I'm doing something wrong.

Expenses

My losses come in two flavours, bad luck and bad flying. Dying to gate camps, for example, is usually bad luck, and I had my share of that. Some of my other losses were just due to being rusty (Malediction & Vengeance) or unfamiliar with the ship (Purifier). November was was an expensive month.

Improving Performance

I've stopped flying bombers for the minute; the Tuskers seem to have stopped doing black ops as soon as my bomber training finished, so I've not had much opportunity to fly in a group, which is where I need to be while I'm still developing the relevant player skills.

I've also been flying Interceptors more, which brings the value of my losses down. The Crow, in particular, has made me very happy as a solo platform, and I expect that my performance will improve as I max out the relevant skills.

Appendix 2: Explanatory Notes

Accounting basis

This profit account has been prepared on the basis of income received and expenses incurred. That is, income is only recorded when the ISK has actually been deposited in my wallet and the expense of purchasing a ship is recorded only when the ship has been destroyed.

All accounts have to make decisions about when, and how, to record income, and each method has it's own advantages and disadvantages. I prefer the income received basis because it takes the guesswork out of preparation, but I recognize that this means that there will be cases where a profitable month may show a loss, simply because the bulk of the faction loot is still on contract in Jita. The reverse is also true. However, as long as the accounts are consistent, long term trends in profitability can be reliably monitored, especially if we remain alert to the possible biases.

All figures are rounded to the nearest ISK, and are derived from character and alt wallets unless otherwise stated.

Capital & Liquidity

These accounts also do not address issues of liquidity or capital. Although I may be profitable, for example, I may have no ISK in my wallet because I have converted those funds into ships and modules.

I have chosen not to address capital or liquidity for two reasons. First, this adds a great deal of additional work to the accounts, for very little additional gain. Capital and liquidity matter in the real world, where a corporation's ability to offer security for debt (capital) and meet the interest payments on that debt (liquidity) are critical issues. New Eden, mercifully, does not work like that.

Second, it would provide just a little too much information about me. If I ever have to pay a ransom, I'd really prefer that whomever is ransoming me cannot see, to the nearest ISK, how much money I have!

Notes

Note 1: "Reasonable losses" includes all losses where it was reasonable for me to engage the target and no fundamental play error occurred during the fight. Evekill costs, net of insurance, are used for simplicity, and dropped modules count as destroyed for the purpose calculating these costs, unless those modules were recovered after the fight. Manual adjustment sometimes occurs where modules have been overvalued compared to the actual price paid.

Note 2: "Avoidable losses" includes all losses where it was unreasonable for me to engage the enemy or a fundamental play error occurred during combat. Evekill costs, net of insurance, are used for simplicity, and dropped modules count as destroyed for the purpose calculating these costs, unless those modules were recovered after the fight. Manual adjustment sometimes occurs where modules have been overvalued compared to the actual price paid.

Note 3: In this line, a figure in brackets indicates a loss rather than a profit.