Profit Account for January 2012

Evekill statistics for January 2012:

• Kills: 17
• ISK destroyed: 0.48 billion
• Losses: 2
• ISK lost: 0.3 billion
• Efficiency: 93.19%
• Kill/Death ratio: 9/1

Battleclinic Rank: 20,201 (+1,902)

It's been a pretty good month for me. Although I've had higher kill counts, almost all of these kills were solo. My losses were part of my early drive to really push the Crow to the edges of its engagement envelope, and otherwise I've not lost a ship.

I've also been going on longer solo roams as I get back to my nomadic roots. I don't always find something, but it's great to get out and really shake the dust off. Now that Interceptors V has finally finished, I'm hoping to reach some even more distant areas of low sec before T2 Launchers finish and I try and get in on some BC shield gangs at the end of the month.

The December/November figures can be found here.

 

Schedule of Income

Solo Income

Dropped modules and other loot

ISK 24,867,025

Ransoms

Nil. 

Nil.

Total Solo Income

ISK 24,867,025

Group Income

Dropped modules and other loot

ISK 19,400,000

Malediction et alia v Vargur (ISK 19,400,000); the final payment.

 

Ransoms

Nil.

Nil.

Total Group Income

ISK 19,400,000

Total Income

ISK 44,267,025

Schedule of Expenses

Solo Expenses

Reasonable losses (see note 1)

ISK 26,225,764

Crow (ISK 13,112,882) - Crow v Slicer.

Crow (ISK 13,112,882) - Crow v Bellicose.

Avoidable losses (see note 2)

Nil.

Nil.

Other expenses

ISK 352,081

Repairs (ISK 339,131)

Ransom CSPA (ISK 2,950)

Contract fees (ISK 10,000)

Total Solo Expenses

ISK 26,577,845

Group Expenses

Reasonable losses (see note 1)

Nil.

Nil.

Avoidable losses (see note 2)

Nil. 

Nil.

Total Group Expenses

Nil. 

Total Expenses

ISK 26,577,845

Schedule of Profit (Loss)

Total Income

ISK 44,267,025

Less

Total Expenses

ISK 26,577,845

Net Profit (Loss) (see note 3)

ISK 17,689,180

Appendix 1: Comments & Criticism

A modest profit, although if I'm honest, it would have been a small loss if I had not had some delayed payments from last month's Vagur kill come in.

Even so, I would not have been terribly unhappy with the results. If that's what a bad month looks like, I'll take it. In exchange for that small loss, I would have spent hours on roams all over low sec, and generally having a good time.

That's not to say that I'm taking my focus off profitability. Not at all. It's simply that we have to keep these things in perspective. An hour or two of ratting would have put me back into the black. As it is, it's been more than six months since I've had to do any kind of pve at all.

It's a good life.

Income

Income was low, as I was primarily soloing T1 frigates, destroyers and cruisers. None of my T2 attacks resulted in a successful kill, but that's something I hope to keep working on.

I did have a few opportunities for ransoms, but all my potential ransoms got themselves podded for being too slow to pay. I loathe time wasters.

Expenses

My losses are the result of my stress testing a new ship, and while I prefer not to lose ships, I'm fairly relaxed about this month's losses.

Improving Performance

I've (finally) trained Interceptors V, so I hope to take on more ambitious targets. My Drake's T2 weapons should come online mid month, so I may get some BC gang action happening too.

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.