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Leisure Services Financial Management eBook With Web Resource

Leisure Services Financial Management eBook With Web Resource


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    Leisure Services Financial Management equips students and professionals with the knowledge and skills to plan, implement, analyze, and report on the financial operations of leisure service agencies, businesses, and organizations. This unique text examines financial management systems, standards, and practices in recreation, leisure, tourism, and related fields, making it an essential reference for both future and current professionals.

    Leisure Services Financial Management prepares students for the roles and responsibilities of entry-level to middle managers in public, private, and nonprofit sectors of the leisure service industry. Readers will learn
    • foundational knowledge used in economics, accounting, finance, and marketing;

    • the technical and technological skills involved in managing the financial aspects of a leisure service agency, organization, or business;

    • how to develop a financial management philosophy and practice ethical financial management; and

    • interpersonal skills useful for financial managers interacting with various stakeholders on fund-raising and development initiatives.

    Leisure Services Financial Management presents current financial management approaches, giving students an understanding of the differences in accounting methodologies and financial report methods across the private, nonprofit, and public sectors. By examining and working with varied examples of financial reports and analyses, students gain experience in creating and interpreting a range of financial report models.

    A comprehensive package of online ancillaries, including an instructor guide, presentation package, and test package, assists instructors in delivering engaging lectures, facilitating class discussion, and creating effective assessment tools. The instructor guide includes chapter overviews, learning objectives, glossary terms and definitions, learning activities, critical thinking questions, case studies, web links to additional resources, and sample financial reports to assist instructors in planning lectures and student assignments.

    A student web resource offers a range of learning resources, including learning activities that replicate the work professionals do on the job. The student web resource also contains examples of management case studies, which offer insights into the realities of the economic, political, and financial workings of the leisure service industry. Both the instructor guide and student web resource contain sample financial reports from each sector (private, public, and nonprofit). Included with each of these reports are problem-solving activities, which provide students with practice in reading, understanding, and analyzing financial reports similar to those they will encounter as professionals. Problem-solving activities in each sample report help students show their understanding of how to interpret these financial reports.

    Leisure Services Financial Management offers students in-depth discussion of the knowledge and skills necessary for beginning a career in the varied and dynamic leisure service industry. This foundational guide to financial management will serve as an essential resource to both future and current professionals in the leisure industry.


    Textbook for financial management courses for recreation, leisure, and related fields. Reference for leisure professionals and a resource for university professors in leisure and related fields.

    Table of Contents


    Chapter 1. The Leisure Services Environment
    Leisure and Leisure Services Financial Management Defined
    How Leisure Services Began in the United States
    Leisure Services Sectors
    Challenges Facing Managers Today

    Chapter 2. Managing Resources
    Basic Economics
    Basic Finance

    Chapter 3. The Art of Accountancy
    History of Accounting
    Posting Transactions
    Codes of Ethics and Conduct
    Dimensions of Complexity in Leisure Services Accounting

    Chapter 4. The Private Sector
    How Greed and Power Affect Business Management
    Size of the Private Sector
    Focus on Customer Needs
    Making a Profit
    Debt Versus Equity
    Taking on New Owners

    Chapter 5. Private-Sector Accounting
    Accounting Standards
    Generally Accepted Accounting Principles
    Advanced Financial Accounting Concepts
    Reading Important Financial Reports

    Chapter 6. Private-Sector Reporting and Analysis
    Due Diligence
    Financial Formulas

    Chapter 7. The Nonprofit Sector
    Noncharitable and Charitable Nonprofits
    Nonprofit Charitable Status
    Fund-Raising and Donations
    Boards of Directors
    Role of the Nonprofit Manager in Fund-Raising
    Financial Challenges

    Chapter 8. Nonprofit Accounting and Reporting
    Fund Segregation
    Fundamentals of Nonprofit Budgeting
    Federal Reporting

    Chapter 9. The Government Sector
    Federal Government
    State Government
    Local Government

    Chapter 10. Government-Sector Accounting
    The GASB and the FASB
    Annual Financial Reports
    Special District CAFRs
    Managing the Finances of Governmental Leisure Services

    Chapter 11. Capital Financing and Construction Management
    Capital Assets Financial Management
    Sources of Financing for the Private Sector
    How Nonprofits Fund Capital Improvements
    How Governmental Units Fund Capital Improvements
    Financing Public Projects Through Referenda
    Managing Construction Projects

    Chapter 12. Future Trends
    Transparency Requirements
    Online Scrutiny
    Changes in Financial Reporting
    Changes in Technology
    Focus on Revenues

    About the Author

    About the Author

    David N. Emanuelson, PhD, has three decades of experience working in the leisure services, serving for 12 years as department head of two parks and recreation departments in Illinois and Indiana and 20 years as a park district executive director in Illinois.

    Emanuelson also taught courses in parks and recreation administration, public administration and political science for 14 years. Before retiring, Emanuelson held the post of assistant professor at George Williams College of Aurora University, teaching administration, financial management, commercial recreation, facility management, and the economics of parks and recreation. Emanuelson currently works as a consultant in the leisure service industry.

    In 2003, he received the Gold Medal Award for Excellence in Parks and Recreation Management and has received nine consecutive Certificates of Achievement for Excellence in Financial Accounting. He is a member of the National Recreation and Park Association, Illinois Park and Recreation Association, Wisconsin Park and Recreation Association, Midwest Political Science Association, and the honorary fraternities Rho Phi Lambda, Pi Alpha Alpha, and Beta Gamma Sigma.

    Emanuelson worked closely with his wife, Sharon, on the creation of this book. They reside in DeKalb, Illinois, and enjoy traveling, boating, water sports, and golf.


    All ancillary materials for this text are FREE to course adopters and available online at

    Instructor guide. Includes an overview of each chapter, learning objectives, glossary terms, and learning activities that replicate the work professionals do on the job. A list of critical thinking questions help students develop a logical and realistic solution. Case studies offer in-depth scenarios that present dilemmas for managers of leisure service organizations, agencies, and businesses. You will also receive sample financial reports to read and analyze as well as web links to additional resources.

    Test package. Features a bank of at least 25 questions per chapter, including multiple-choice, true-or-false, fill-in-the-blank, and short-answer. The test package is available for use through multiple formats, including a learning management system, Respondus, and rich text.

    Presentation package. Includes more than 235 PowerPoint slides of text and artwork that instructors can use for class discussion and illustration. The slides in the presentation package can be used directly in PowerPoint or be printed to make transparencies or handouts for distribution to students. Instructors can easily add, modify, and rearrange the order of the slides as well as search for slides based on key words.