Sports Finance
Sports Finance

Sports Finance

Lead Author(s): PETER OMONDI-OCHIENG

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An interactive textbook on sports finance.

   Chapter 0-Introduction

Financial Ratio Analysis of U.S. Nonprofit Sports Governing Associations

       Peter Omondi-Ochieng, PhD. M.S.


Disclaimer: This textbook provides general information only and the author assumes no liability for the information given being complete or correct. This is because: (a) financial cycles keep changing, (b) financial reports regularly get updated, (c) other primary or secondary sources, such as company websites and textbooks, may disclose additional financial data other than those referenced in this text, (d) based on company transparency levels, some entities may choose to display their financial data only to stakeholders and the general public or neither, and (e) some non-profit organizations (NPOs) may choose to display their financial data partially or completely, or they may conceal some additional data altogether. In light of these justifications, the author makes no representations about future financial performance and/or results based on the data and the contents available in this textbook. The textbook is provided for teaching and informational purposes only and is therefore provided as is without warranty or guarantee of any kind to potential investors and/or current shareholders.

        Table of Contents

Chapter 1: Financial Statements for Non-Profit Organizations
Chapter 2: Financial Ratios for Non-Profit Organizations
Chapter 3: Financial Ratio Analysis of U.S. Table Tennis Association, Inc
Chapter 4: Financial Ratio Analysis of USA Taekwondo, Inc
Chapter 5: Financial Ratio Analysis of USA Triathlon
Chapter 6: Financial Ratio Analysis of USA Volleyball
Chapter 7: Financial Ratio Analysis of USA Hockey, Inc
Chapter 8: Financial Ratio Analysis of USA Weightlifting, Inc
Chapter 9: Financial Ratio Analysis of USA Water Ski, Inc
Chapter 10: Financial Ratio Analysis of USA Boxing, Inc
Chapter 11: Financial Ratio Analysis of USA Cycling, Inc
Chapter 12: Financial Ratio Analysis of USA Fencing 
Chapter 13: Financial Ratio Analysis of USA Bobsled & Skeleton, Inc
Chapter 14: Financial Ratio Analysis of USA Swimming

         Glossary of Terms

There is plenty of terminology associated with financial ratios, making it helpful to use a glossary of terms for novice learners. Understanding these terms may enable you to read and understand financial statements better. Knowing these terms may also help you when talking to financial professionals, such as bank managers and accountants. The most basic and useful of these are described as follows:

  • Accrual accounting - Recognizing income and expenses when they occur rather than when income is received or expenses are paid
  • Accounting entry -The basic recording of business transactions as debits and credits
  • Accounting period - A period during which financial statements are prepared – normally monthly, quarterly, and/or annually
  • Amortization - The process by which the value of an asset is gradually reduced based on its expected life
  • Asset - A resource of commercial value that is owned by the organization
  • Break-even - The dollar amount the organization needs to realize before a profit is generated
  • Budget - A financial plan for an organization, typically done once a year
  • Capital expenditure - The amount of money that is allocated or spent on assets
  • Cash accounting - Accounting for income and expenses as they are received or paid
  • Cash flow - The flow of cash into and out of the organization
  • Cost of goods sold (COGS) - The total cost of all goods sold during the period
  • Creditors – The person or organization to whom money is owed
  • Current - Refers to the time period of less than 12 months, which assists in allocation of assets and liabilities
  • Current assets - All shifting and changeable assets, except material and supplies, which include: cash on hand and deposit, loans and bills receivable, accounts receivable, dues and advances from other companies and/or individuals, and sundry assets
  • Debtors - The money that is owed by your customers to you
  • Deferred tax - The postponement of tax payable to a future period
  • Depreciation - The decline in the dollar value of an asset over time and through use, such as the write-off of a portion of a fixed assets value in a financial period
  • Expenses - The costs associated with earning the organizational income
  • Financial accounting - Preparing financial statements for general purposes rather than tax requirements
  • Financial ratio - The method in which an organization can measure its financial health
  • Financial statements - The sources of financial information, such as statement of financial position, statement of activities and changes in net assets, and statement of cash flows
  • Forecasting - The process of predicting the future financial performance of an organization
  • Inventory - The stock that an organization holds to sell
  • Intangibles - Assets that do not have in physical form, e.g. patents
  • Internal Revenue Service (IRS) - The U.S. Government authority responsible for collecting taxes
  • Liability - The amount the organization owes to external stakeholders, such as bank loans and accounts payables
  • Liquid assets - Funds that are in the form of cash or can quickly be converted to cash. These include cash, demand deposits, time and savings deposits, and investments.
  • Margin - Profit from sales before deducting overheads, often referred to as gross margin, or after all expenses have been paid, often referred to as net margin
  • Mark-up - The percentage by which the sales price exceeds the cost
  • National sports federations (NSF) - Sports organizations whose goal is to govern national sports. Examples include USA Bobsled/skeleton, Inc., U.S. Soccer Federation Foundation, Inc., etc.
  • Net assets - Total assets less total liabilities
  • Non-current - Refers to the time period of greater than 12 months, which assists in allocation of assets and liabilities
  • Nonprofit organization (NPO) - A corporation that is legally exempt from taxes as governed by IRS 503 (c) (3) codes
  • Overheads - Costs not directly associated with the products or services sold by the organization
  • Profit (surplus) - Revenue minus expenses
  • Purchase order - A commercial document issued by a buyer to a seller, indicating the type, quantities, and agreed prices for products or services the seller will provide to the buyer
  • Ratio analysis - Analysis of financial information contained in the financial statements to show the organization’s strengths and weaknesses
  • Receivables - Amounts that are owed to an organization, also known as debtors
  • Revenue - The income the organization earns from its activities, including grants, donations, fundraising, and any trading income
  • Retained earnings - Profits that have remained in the organization
  • Stock - Goods that the organization purchases to sell
  • Surplus - Amount set aside after paying expenses and after necessary deductions, such as interest, dividends, rentals, taxes, etc.
  • Working capital - The excess of current assets over current liabilities

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(Note: The following list of extended references is meant to assist students who may choose to undertake honors, independent studies, guided research, masters and/or doctorate projects pertaining to financial ratio analysis).

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