ABSTRACT

Overview This chapter will discuss the principles underpinning the effective financial management of sport organizations. It begins with a brief history of book-keeping and accounting systems, and the ways in which the financial affairs of organizations were managed. Students will then be introduced to the different financial entities relevant to sport organizations, and the special financial features of each entity. They include sole traders, partnerships, non-profit incorporated associations, companies limited by guarantee, and public companies. The remainder of the chapter will focus on the importance of good financial management, and the steps required to establish appropriate systems and structures.