Finance for Sport and Leisure Managers: An

Sport and leisure managers need to understand the financial side of their industry in order to offer the most cost-effective facilities and to make sound business decisions. However, to the non-expert the language and practice of finance is often bewildering and perceived as complicated, difficult and impenetrable. This textbook guides the reader through the maze of financial terms and concepts, illustrating theory with examples drawn specifically from sport-based contexts to make this the most relevant, transparent and helpful handbook for students of leisure management available. Written by experts in accounting and sport management, this book enables readers to work through the subject at their own pace, with case studies, worked examples and self-tests to ensure students can apply their knowledge to industry-specific situations. Ideal for students on sport and leisure management courses, this book will also be valuable to practising managers who need a quick-reference guide to everydayfinancial questions.

List of figures	p. ix
List of tables	p. x
Preface	p. xi
The Basics	p. 1
Financial Accounting in Context	p. 3
Introduction	p. 3
Accounting in sport and leisure	p. 4
The importance of finance in sport and leisure	p. 8
User groups	p. 11
Legal identity	p. 13
Financial versus management accounts	p. 15
Statutory requirements in sport and leisure	p. 15
Summary	p. 16
Questions for review	p. 17
Answers	p. 18
The 'Rules' of Financial Accounting	p. 19
Introduction	p. 19
The regulatory framework	p. 22
More accounting terminology	p. 30
The impact of the regulatory framework on sport	p. 32
Corporate governance	p. 33
Summary	p. 37
Questions for review	p. 37
Answers	p. 39
The Mechanics	p. 41
Financial Accounting - the Mechanics	p. 43
Introduction	p. 43
Recording business transactions	p. 46
The accounting equation	p. 47
The double entry rule	p. 50
Applying the double entry rule	p. 54
Summary	p. 57
Questions for review	p. 58
Answers	p. 61
Accounting Records for Sport and Leisure Managers	p. 65
Introduction	p. 65
Loan interest	p. 65
Depreciation	p. 69
Discounts	p. 72
Bad debts	p. 75
Returns	p. 78
Disposals of fixed assets	p. 79
Summary	p. 81
Questions for review	p. 82
Answers	p. 83
The Interrelationship Between 'T' Accounts and Final Statements	p. 85
Introduction	p. 85
The trial balance	p. 86
Limitations to the trial balance	p. 90
The trial balance balances! Now what?	p. 90
Summary	p. 93
Questions for review	p. 94
Answers	p. 95
Final Adjustments for Sport and Leisure	p. 99
Introduction	p. 99
Cost of sales	p. 100
Mispostings	p. 102
Accruals	p. 103
Prepayments	p. 104
Summary	p. 105
Questions for review	p. 105
Answers	p. 106
The Meaning	p. 107
The Financial Statements	p. 109
Introduction	p. 109
International Accounting Standard 1	p. 110
The income statement (profit and loss account) - measuring financial performance	p. 111
Interpreting the income statement	p. 112
The balance sheet: a snapshot of the financial position	p. 114
Interpreting the balance sheet	p. 115
Relationship between the income statement and balance sheet	p. 119
Cash flow statement	p. 120
Non-trading organisations	p. 123
Summary	p. 127
Questions for Review	p. 127
Answers	p. 128
Interpreting Annual Reports	p. 129
Introduction	p. 129
Dissecting Annual Reports	p. 130
Introducing ratio analysis	p. 134
The steps of financial ratio analysis	p. 135
Growth	p. 135
Profitability ratios	p. 139
Liquidity ratios	p. 143
Defensive position ratios (long-term solvency)	p. 146
Investment ratios	p. 149
Ratio analysis and its limits	p. 152
Summary	p. 152
Questions for Review	p. 153
Answers	p. 154
Glossary of terms	p. 155
Index	p. 159
Table of Contents provided by Ingram. All Rights Reserved.

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Finance for Sport and Leisure Managers: An Introduction

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