Sport Finance, Second Edition, grounds students in the real world of financial management in sport, showing them how to apply financial concepts and appreciate the importance of finance in sound sport management and operations. Designed for sport finance courses in a sport management curriculum and aligned with the requirements set forth by the National Association for Sport and Physical Education (NASPE) and the North American Society for Sport Management (NASSM), this text distinguishes the skills and principles of finance from those of economics. It also
-allows students to apply information in whatever segment of the sport industry they will be working in—including professional franchises, college athletics, local clubs, and retail settings;
-includes expanded coverage of business structures, the time value of money, and ethical guidelines and issues in auditing;
-presents updated examples, references, and case studies, giving students contemporary examples and adequate coverage of core concepts; and
-helps students new to sport finance comprehend the subject by including chapter objectives, easy-to-follow figures and tables, summaries, and discussion questions.
As an added benefit to instructors, this second edition includes a wealth of ancillary materials to help make the topics more comprehensive to students. An expanded instructor guide, including tips on explaining topics that students often find difficult and a primer on basic finance concepts, plus an updated PowerPoint presentation and new test package are conveniently offered online. To further engage students, the authors use numerous real-world examples and five case studies that are referred to throughout the book. These studies—in professional, college, private business, manufacturing, and not-for-profit settings—represent the breadth of the sport world where finance is a critical component of success. Whenever possible, the case studies are analyzed with the use of financial data obtained from real businesses or government entities, providing a practical foundation for students to build on.
Sport Finance, Second Edition, allows students to grasp fundamental concepts of finance and accounting, even if they have not previously studied those areas. By analyzing business structures, income statements, and funding options, students not only will learn basic finance and accounting, but they will also understand how those skills are used in the world of sport. This real-world application of the text will help students apply financial concepts in their future careers and will allow professionals to further develop strategies and investment plans in the industry.
Part I introduces students to the basic issues, concepts, and systems of sport finance. Part II delves into financial analysis, planning, and the time value of money. In part III, students focus on obtaining funding and learning about stocks and bonds. Part IV explores capital budgeting and financial management. Through a discussion of taxation, legal issues, and spending earnings, part V takes a closer look at how businesses can increase their profits. Finally, part VI explains the auditing process as well as what happens when a business needs to close.
With the increased spending in today's sport organizations, it is important to have a solid understanding of sport finance. Sport Finance, Second Edition, will provide students at all levels with the fundamental finance and accounting concepts they need to help raise, manage, and spend money in sport settings.