«MGMT 2025 – FISCAL MANAGEMENT IN SPORTS COURSE OUTLINE NO. OF CREDITS: 3 LEVEL: II PRE-REQUISITES: ACCT 1002 – Introduction to Financial ...»
THE UNIVERSITY OF THE WEST INDIES, ST. AUGUSTINE
FACULTY OF SOCIAL SCIENCES
DEPARTMENT OF MANAGEMENT STUDIES
MGMT 2025 – FISCAL MANAGEMENT IN SPORTS
NO. OF CREDITS: 3
PRE-REQUISITES: ACCT 1002 – Introduction to Financial Accounting and ACCT 1003 Introduction to Cost and Management Accounting
COURSE DESCRIPTIONThis course emphasizes the basic decision making tools and analytical processes involved in the financing of sporting events: the evaluation of short term financing instruments versus long term financing instruments, cash flow statements analysis, cost control and asset management decisions, ticket pricing and the preparation and analysis of pro form, a statements for profitability planning.
The course is divided into three major sections:
A - Overview of the Fiscal Management Process and Business Planning: This section of the course introduces students to the role of fiscal management in sports and leisure organizations. Students are also exposed to the key factors that must be considered to ensure the efficient and effective organization of fiscal operations. This section concludes 1 with the review of basic economic principles and an overview of the business planning process.
Revenue Management – This section of the course examines traditional and non- B - traditional sources of income available to sporting organizations. Students are also introduced to the pricing of sport and leisure products and the fundamentals of philanthropy, fundraising and grant seeking.
Expenditure and Working Capital Management – This section of the course begins C - with a review of financial and managerial accounting with particular emphasis on the analysis and interpretation of General-Purpose Financial Statements and the use of financial information for short-term decision-making. Students also examine the technical and behavioral aspects of budgeting as they relate to planning, control and performance evaluation. Additionally, this section provides an introduction to capital budgeting. This section concludes with coverage of an integrated framework for the management of short-term financial and operating resources of sport organizations.
GOALS/AIMS Students should be endowed with the basic fiscal knowledge to manage and make decisions as it relates to the operations of sporting organizations.
A student successfully completing this course should have a basic understanding of the following:
a. Knowledge of the various types of sporting organizations including their structure and operations;
b. The use of basic accounting and other financial information to managerial decision-making and control functions.
c. How various types of sporting organizations are able to raise and manage revenues;
d. Knowledge of basic finance principles and their application to the sporting organizations;
ASSIGNMENTSa. A mid term assessment will be administered on the third week of March which will examine students on the initial stages of the course.
b. A group project will be which involves the development of a Business Plan for a sport event or product will be one of the coursework requirements.
The vast majority of managers’ interactions with others are oral. For this reason, the development of oral skills is given a high priority in this course. The classroom should be considered a laboratory in which you can test you ability to convince your peers of the relevance / appropriateness of your ideas.
As a result, your success in this course requires the following: a commitment to attend class, consistent preparation for each class (reading the assigned material and completing assigned problems), and a willingness to participate in class discussions. You will only get out of the course what you put into it.
Please note that high quality participation is the objective and not high quantity of airtime.
Class participation is worth 10% of the final grade for this course. Remember you cannot participate if you are absent from class.
EVALUATION OF CLASS PARTICIPATION
The following are some of the characteristics of effective class participation:
1. Are the points that are made relevant to the discussion in terms of increasing everyone’s understanding, or are they merely regurgitation of facts?
2. Do the comments take into consideration the ideas offered by others earlier in the class, or are the points isolated and disjointed? [Usually the best contributions following the lead off tend to be those, which reflect excellent preparation, good listening, and interpretative and integrative skills.]
3. Do the comments show evidence of a thorough reading and analysis of the assigned materials?
4. Does the participant distinguish among different kinds of data and their relative strengths: e.g., facts, opinions, assumptions, and inferences?
5. Is there a willingness to test new ideas, or are all comments cautious?
6. Is the participant willing to interact with other class members by asking questions and challenging conclusions?
7. Participants’ ability to integrate different ideas and concepts into a coherent thought.
8. Clearly, you must be present if you are going to participate and share your ideas with others.
However, attendance is only a necessary but not a sufficient condition for participation (and earning the associated marks).
Given below are a few illustrative categories that will be used in the evaluation of class participation. [Adapted from the teaching material of V. Govindarajan].
Outstanding Contributor: Contributions in class reflect thorough preparation. Ideas offered are usually substantive; provide one or more major insights as well as direction for the class. Arguments, when offered, are well substantiated and persuasively presented. If this person were not a member of the class, the quality of the discussions would be diminished significantly.
Good Contributor: Contributions in class reflect thorough preparation. Ideas offered are usually substantive; provide good insights and sometimes direction for the class. Arguments, when offered, are fairly well substantiated and sometimes persuasive. If this person were not a member of the class, the quality of the discussions would be diminished considerably.
Marginal Contributor: Contributions in class reflect satisfactory preparation. Ideas offered are sometimes substantive but seldom offer a major new direction for the discussion. Arguments are sometimes presented, and are fairly well substantiated and sometimes persuasive. If this person were not a member of the class, the quality of the discussions would be diminished marginally.
Unsatisfactory Contributor: This person has said little or nothing in this class to date, or comments have not reflected satisfactory preparation, or arguments were not properly presented or substantiated.
Hence, there is either no adequate basis for evaluation or the person did not add value to the class discussions. If this person were not a member of the class, the quality of the discussions would not be changed.
TEACHING STRATEGIESWhile there will be three (3) contact hours each week during which the lecturer will lead the discussion on the assigned material, the session is expected to be interactive. As such you are expected to read the assigned material prior to each class session. Students who come to class without having completed assignments (readings and exercises) or are otherwise unprepared to participate in class discussions may be asked to leave. While attendance is not compulsory, students are responsible for all announcements made in class. If you choose not to attend class you will automatically forfeit the marks allocated for class participation.
4 If you do not understand something discussed in class, please do not hesitate to ask questions. Please note that the course material cannot be digested two or three weeks before the final examination. Success in this course can ONLY be achieved by keeping abreast with the material and constantly working questions throughout the semester. Please attempt all the assigned cases/problems/exercises that will be assigned from time to time.
Assigned readings and problems represent the minimum preparation for the material to be covered in lectures. You should seek out and read other books and articles that seem relevant to the course topics.
This independent study will expose you to a broader range of views on the issues relating to fiscal management in sport and enhance your understanding of the material covered in class.
MGMT 2025- COURSE PACKET – Available from the Management Studies Office for copying.
RECOMMENDED TEXTBOOK(s) Brayley, R. E., and McLean, D. D., Managing Financial Resources in Sports and Leisure Organizations, Sagamore Publishing Inc.: Champaign, IL: 1999.
Warren, C.S., Reeve, J.M., and Fess, P.E. (2002), Accounting, 20th Edition, South-Western College Publishing Co.
Anthony, R.N., Hawkins, D. F, and Merchant, K.A. (1999), Accounting: Text and Cases, McGraw-Hill (AHM).
ABBREVIATIONS FOR ASSIGNED READINGSAHM - Anthony, R.N., Hawkins, D.F. and Merchant, K.A. (1999). Accounting: Text and Cases.
BC - Beech, J. and Simon Chadwick (2004). The Management Sport Management. Prentice Hall.
BK - Bucher, C.A. and M. L. Krotee (2002). Management of Physical Education and Sport (12th Ed.). McGraw Hill.
BG - Brigham and Gapenski. Corporate Finance.
Technical and behavioral aspects of operational budgeting – focus on short term planning and control of organizational resources and Class Handout performance evaluation.
UNIVERSITY ACADEMIC INTEGRITY POLICY/EXAMINATION REGULATIONSPlease consult Section V (especially sub section B which deals with cheating) of the University of the West Indies, Examination Regulations for First Degrees, Diplomas and Certificates for details of this policy.
General Examination Regulations 19 – Absent from lectures and tutorials
The following guidelines facilitate the creation and maintenance of an effective learning environment. All students are expected to adhere to the guidelines throughout the semester.
Switch off all cellular phones and beepers before the start of each class session Be civil at all times. We can disagree without being disagreeable Read all assigned materials and attempt all assigned problems before the start of each class Participate in class discussions. Questions on the subject matter are welcomed at any time Deadlines are firm! Plan to meet them