6-1 Short Paper: Financial Management and Analysis of Sport Facilities

 

Obtain the published accounts or financial statements of a sport facility business, such as a stadium, arena, municipal swimming pool, or local community club. Provide a summary of the financial information presented in these documents. Based on your understanding of accounting and finance, use the financial statements to explain the financial situation of the facility and project the trend of financial success or failure over the next five years. Defend your analysis with supporting details from the financial data.

Additionally, identify three areas of the sport facility business where financial skills are critical for effective management. For each area, propose key questions sport facility managers should ask themselves regarding their financial expertise and the impact of their financial skills on the facility’s performance.