Financial Management for Sport and Active Recreation

This unit introduces students to the principles and practice of financial management and financial planning, and their application to the administration of Australian sport and active recreation organisations. The financial management section focuses on balance sheets, income and expenditure statements, and cash flow statements. Special attention is given to financial performance, and how financial ratios, impact statements and cost-benefit analysis can be used to diagnose the financial health of sport and active recreation organisations, events, tournaments and programs. The planning section focuses on the pricing and budget processes, and the use of feasibility studies. It introduces students to the budgeting process, and examines the ways in which pricing strategies can be used to sustain revenues. It also discusses the issue of financial forecasting, and how future revenues, expenses, and operating surpluses can be estimated and monitored. Class activities centre on case studies of sport and active recreation organisations, and experiential exercises.