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Sport Finance 3rd Edition eBook

Sport Finance 3rd Edition eBook

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£38.33

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    Ebook

    Sport Finance, Third 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 establishing sound sport management practices. Thoroughly updated to address the challenges facing today’s professionals, this text engages students with a practical approach to traditionally difficult financial skills and principles.

    This edition of Sport Finance contains several new chapters and a greater emphasis on practical applications to better prepare students for the challenges they will face in the dynamic sport industry. New coauthor Mike Mondello brings additional financial expertise and practical knowledge to the expert author team, ensuring strong coverage of issues critical to the field. A new Budgeting 101 chapter provides a strong foundation for students to build on before delving into the influences on finance, capital structuring, financial management, and profits and losses. The final section of the text is completely new and covers current issues affecting the sport industry, providing realistic context for students entering the workforce. Readers will learn how various sport entities are dealing with the effects of recession and analyze the unique issues that affect various segments of the industry, including nonprofit, high school, college, professional, sporting goods, and international sport. Running case studies from the previous edition have been replaced with one comprehensive case study for a Division II athletic department in the final chapter. Students are encouraged to apply their knowledge as they explore the various revenues, expenses, and other financial issues occurring over the course of a year.

    Teaching readers skills that will help them understand the drivers of financial success or failure in the sport industry, the text presents these features:
    • Mid-chapter sidebars that provide practical applications based on topics of discussion
    • End-of-chapter discussion questions that channel dialogue in the classroom
    • Expanded ancillary materials, including a test package, presentation package, and instructor guide, that help create an exciting classroom environment
    Sport Finance, Third Edition, allows students to grasp fundamental concepts in sport finance, even if they have not previously studied finance. By analyzing business structures, income statements, and funding options, students not only will learn basic finance, but they will also understand how those skills are used in the world of sport. This practical 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.

    Audience

    A text for upper-undergraduate and graduate sport finance and related courses; a professional reference for better understanding of sport finance issues.

    Table of Contents

    Acknowledgments
    Preface

    Part I Basics of Sport Finance
    Chapter 1. Financial Issues in Sport
    Managing Money
    Financial Skills
    Billion-Dollar Teams
    Billion-Dollar Broadcasting Deals
    Sports Sponsorship
    Financing New Stadiums and Arenas
    Conclusion

    Chapter 2. Basic Financial Concepts
    Revenues and Expenses
    Overview of Accounting Concepts
    Economic Versus Financial Analysis
    Conclusion

    Chapter 3. Budgeting 101
    Importance of Financial Planning
    Determining Financial Objectives
    Financial Planning Process
    Developing a Pro Forma Budget
    Incorporating the Pro Forma Budget in the Business Plan
    Conclusion

    Part II Government and Other Influences on Finance
    Chapter 4. Financial Systems and How They Operate
    Financial Markets
    Financial Institutions
    Government Influence on Financial Markets
    Environmental Conditions
    Conclusion

    Chapter 5. Business Structures, Bankruptcy, and Taxation
    Nonprofit Organizations
    Sole Proprietorships
    General and Limited Partnerships
    C Corporations
    Subchapter S Corporations
    Limited Liability Corporations and Partnerships
    Taxation Issues in Sport Business
    Bankruptcy
    Conclusion

    Part III Principles of Financial Analysis
    Chapter 6. Financial Statements, Forecasts, and Planning
    Types of Financial Statements
    Types of Financial Ratios
    Revisiting Financial Planning
    Conclusion

    Chapter 7. Time Value of Money
    How Much Is Money Worth?
    Risk
    Conclusion

    Part IV Capital Structuring
    Chapter 8. Obtaining Funding
    Unique Fund-Raising
    Where the Money Comes From
    Open Markets and Other Short-Term Borrowing
    Long-Term Borrowing
    Funding for Small or Minority-Owned Businesses
    Conclusion

    Chapter 9. Capital Stocks
    Common Stock
    Preferred Stock
    Shareholders’ Rights
    Going Public
    Increasing Stock Values
    Sport Stocks
    Conclusion

    Chapter 10. Bonds
    Corporate Bonds
    Costs of Issuing Bonds
    Loan Repayment
    Government-Issued Bonds
    Government Assistance: Industrial Development Bonds
    Capitalization Problems and Issues
    Conclusion

    Part V Financial Management
    Chapter 11. Capital Budgeting
    Goal of Capital Budgeting
    Capital Spending
    Cost of Capital
    Capital-Budgeting Decision Methods
    Risk and Capital Budgeting
    Projecting Cash Flow
    Conclusion

    Chapter 12. Short-Term Financial Management
    Review of Current Assets and Liabilities
    Cash Management
    Credit Management
    Collections Management
    Conclusion

    Chapter 13. Inventory and Production Management
    Business Costs
    Inventory Management
    Production Management
    Conclusion

    Part VI Profits and Losses
    Chapter 14. Spending Earnings
    Dividend Payments
    Reinvestment
    Mergers and Acquisitions
    Conclusion

    Chapter 15. Auditing
    Purposes of Auditing
    Categories of Audits
    Internal Controls
    Independent Audits
    Auditing Process
    Responding to Financial Problems
    Conclusion

    Chapter 16. Exit Strategy
    Red Flags
    Informal Reorganization
    Informal Liquidation
    Removal of Business Assets
    Selling a Business
    Conclusion

    Part VII Current Issues
    Chapter 17. Effect of the Recession on Sport Finance
    Foreshadowing of Problems
    Financial Problems That Emerged in the Recession of 2007
    Conclusion

    Chapter 18. Sport Finance Trends Across Four Sectors: A Current Analysis
    Trends in High School Sports
    Trends in College Sports
    Trends in Professional Sport
    Trends in International Sports
    Conclusion

    Chapter 19. Applied Sport Finance
    Assignments
    Conclusion

    Appendix A Time Value of Money
    Appendix B Formulas

    Glossary
    References
    Suggested Resources
    Index
    About the Authors

    About the Author

    Gil Fried, JD, is professor and chair of the management and sport management department in the College of Business at the University of New Haven. He worked as a financial analyst with Paul Kagan Associates and analyzed numerous broadcasting contracts. He has written numerous books and articles, taught graduate and undergraduate courses in sport finance, and lectured on finance topics to various audiences. Besides teaching, Fried coordinates the management of sports industries graduate program at the University of New Haven.

    Fried enjoys playing badminton and softball and being involved in his community.

    Tim DeSchriver, EdD, is an associate professor in the department of business administration of Lerner College of Business and Economics at the University of Delaware. DeSchriver has worked as a field economist for the U.S. Department of Labor and has taught undergraduate and graduate instruction in sport finance and sport economics since 1998. He has authored and contributed to several books and sport finance–related publications in refereed journals.

    DeSchriver enjoys road cycling, mountain biking, and hiking in his spare time.

    Michael Mondello, PhD, is an associate professor in the department of management at the University of South Florida. Mondello teaches classes in the sport and entertainment MBA program. His research interests include finance and economics of sport organizations, and his work has been published in the International Journal of Sport Finance, Economic Development Quarterly, Sport Marketing Quarterly, International Journal of Sport Management, Journal of Sports Economics, and Journal of Sport Management. Before his appointment at USF, he was a faculty member at both the University of Florida and Florida State.

    Ancillaries

    All ancillary materials for this text are FREE to course adopters and available online at www.HumanKinetics.com/SportFinance.

    Instructor guide. Includes chapter outlines, chapter summaries, two or three ideas per chapter for assignments, lab activities, class projects, and the class discussion topics from the book.

    Test package. Features a bank of more than 350 multiple-choice questions. The test package is available for use through multiple formats, including a learning management system, Respondus, and rich text.

    Presentation package. Includes more than 400 slides that instructors can use for class discussion and presentation. The slides in the presentation package can be used directly within PowerPoint or printed as transparencies or handouts for distribution to students. Instructors can easily add, modify, and rearrange the order of the slides as well as search for content based on key words.