All good managers working in sport need to have a clear understanding of the principles of finance and accounting. Whether working in the private, public or voluntary sectors, a firm grasp of the basic concepts and techniques of financial management is essential if a manager is to make effective decisions and to implement those decisions successfully. Managing Sport Finance is the first book to offer a comprehensive introduction to financial management and accounting specifically designed for managers working in sport.
The book assumes no prior knowledge of finance or accounting on the part of the reader. It clearly and succinctly guides the reader through each key concept and practical technique, including:
- balance sheets
- income statements
- costing systems and decision making
- investment appraisal
- budgeting and budgetary control
- double entry bookkeeping
- funding for sport
- interpreting annual reports.
Using a rich variety of case studies, examples and data from the real world of sport management, the book places each concept into a managerial context, ensuring that the reader understands why that concept is important and how best to employ each technique. Each chapter also contains a range of useful features, including chapter introductions, learning objectives, activities, summaries, review questions and further reading. This is the most useful, comprehensive and accessible introduction to financial management for sport currently available and is essential reading for any student of sport management or sport development.
Table of Contents
Part 1: Financial Reporting 1. Financial Reporting in Context 2. The Context of Financial Accounting 3. The Mechanics of Financial Accounting 4. Accounting Records in Sport 5. From ‘T’ Accounts to Financial Statements; Constructing a Trial Balance 6. Final Adjustments in Sport 7. The Financial Statements 8. Annual Reports 9. Interpreting Annual Reports Part 2: Financial Management 10. Understanding the Nature of Cost in Sport 11. Short Term Decision Making 12. Budgeting and Budgetary Control 13. Investment Appraisal and Long Term Decision Making 14. Sport Funding and Finance
Robert Wilson is a Principal Lecturer in Sport Business Management at Sheffield Hallam University, UK. His subject specialisms are financial reporting, management accounting and economic decision-making in the sport industry, and his research interests are in the financing of professional team sport and the economics of major events. He is the co-author of Finance for Sport and Leisure Managers: An Introduction, and a recognised expert in learning, teaching and assessment in higher education.
"Robert Wilson is a lecturer and researcher in Sport Business Management at Sheffield Hallam University, UK. He combines his academic background in sport finance with deep knowledge about the specific sports used as examples in his book. The book is suitable for students in business administration ... or introductory courses in sport management at a university level", Björn Anders Larsson, idrottsforum.org