Questions and Answers of Sport Funding And Finance

Compare and contrast the financial performance of the IRB and the ICC over recent times. How do you explain the fluctuations in operating income?
What does the table of wage efficiency ratios for AFL clubs tell you about how well clubs convert their player wage bills into on-field success?
After examining the financial indicators of the MCC, how would you rate its financial performance over the last 15 years? What are its financial strengths and weaknesses?
How might you go about measuring the extent to which a sport organization depends on debt to fund it operations?
Identify and explain two measures of operating efficiency.
How might the cash flow statement be used to reveal the level of liquidity of a sport organization?
What does the level of working capital reveal about a sport organization’s short-term financial health? How can the level of working capital be converted to a ratio?
Identify three ways you can go about measuring profitability in a sport organization. Nominate the strengths and weaknesses of each method.
Identify three reference points that can be used to build a model of financial analysis for a sport organization.
What does a cash flow statement aim to show, and how is it constructed?
Explain why a profit and loss statement is a weak indicator of movements of cash.
Give examples of how net profits can be different from operating profits.
What does a profit and loss statement aim to show?
Contrast current with non-current liabilities.
Identify some intangible assets that are particularly important for sport organizations.
What is the difference between tangible and intangible assets?
What is the principle that underpins depreciation and amortization?
On what basis are assets re-valued over time?
How are assets categorized in a balance sheet?
What does a balance sheet aim to show?
Succinctly review the current financial position of the Rolling Plains Tennis Club. What has it done well, and not so well? How might it go about improving its financial performance?
Construct a table that explains how transactions will be recorded using the double-entry book-keeping system.
What is meant by the term double-entry book-keeping and explain how it is linked to the accounting equation?
Identify the five core account types and their relationship to the accounting equation.
Explain the accounting equation.
Describe the flow of a financial transaction from raw data to its absorption into a financial statement.
Distinguish between the cash method of accounting and the accrual method of accounting. Why is the accrual method a superior system of book-keeping and accounting?
What are three core financial statements, and what do they aim to measure?
What financial records are the building blocks of all accounting systems?
What are the key financial questions that all sport organizations need to ask in order to understand their overall financial well-being?
Why is sound financial management so important to all sport organizations, no matter how large or small?
Under what circumstances would it be appropriate to have a sport organization set up as a public company?
What are the strengths and weaknesses of setting up a sport organization as a company limited by guarantee?
Why are so many sport organizations set up as non-profit entities?
The financial management function can take place in many types of organizational settings. Identify the different legal forms an organization can take, and indicate which forms are most used in the
Identify four important accounting principles and how they can be used to frame accounting structures and systems.
What is the primary role of the International Accounting Standards Board?
How does the reporting function differ from the management function when it comes to the financial management function?
What makes for an effectively organized financial management system?
From a commercial perspective why is it important to have a good set of books?
What is book-keeping all about and where and when did it originate?

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