ABSTRACT
This chapter introduces readers to the financial management function in sport organizations. Through the use of critical incidents and illustrative cases, a number of core accounting principles will be discussed. Special attention will be given to the budgeting process and the analysis of balance sheets, profit and loss statements, and cash flow statements, together with the key principles of sound financial management. Throughout the chapter reference will made to a range of accounting terms and financial management concepts. The overall aim is to have readers build a broad accounting vocabulary that will give them a basic level of financial literacy, which can, in turn, be used to better understand the administrative processes required to build a sport organization’s financial viability.
