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      Accounting for Club Operations

      Accounting for Club Operations


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      Readers will learn the basics of financial and managerial accounting in a club environment with this book. Topics include: financial statements, operations budgeting, capital budgeting, taxes, and technology issues.

      Learn how to:

      • Identify unique aspects of accounting in a club environment
      • Develop on-target budgets and control cash flow
      • Use statements, reports and other accounting tools to reach financial goals

      Raymond S. Schmidgall, Ph.D., CPA, Michigan State University and
      James W. Damitio, Ph.D., CMA, Central Michigan University
      ©2001, Softbound
      ISBN 978-0-86612-190-3

      Please note:

      Attention Instructors:

      EI provides complimentary access to useful resources for instructors, including chapter outlines, PowerPoint files, and a course syllabus. You may download them free of charge from this tab. 

      This title is distributed in the United States by Pearson Higher Education.  For additional instructor information or to place an order, please visit Pearson's website.

      To find your Pearson customer service representative, visit http://www.pearsonhighered.com/replocator/.

      Table of Contents

      Chapter: 1 Introduction to Club Accounting
      Chapter 2: The Statement of Financial Position
      Chapter 3: The Statement of Activities
      Chapter 4: The Statement of Cash Flows
      Chapter 5: Ratio Analysis
      Chapter 6: Understanding and Applying Cost Concepts
      Chapter 7: Operations Budgeting
      Chapter 8: Current Asset Management
      Chapter 9: Internal Controls
      Chapter 10: Capital Budgeting
      Chapter 11: Property, Equipment, and Other Fixed Assets
      Chapter 12: Accounting for Payroll-Related Liabilities
      Chapter 13: Club Technology Applications
      Chapter 14: Lease Accounting
      Chapter 15: Taxes


      Prerequisites: None

      Course Description: This course presents accounting concepts and explains how they apply to specific operations within the club industry.

      Objectives: At the completion of this course, students should be able to:

      1. Identify and explain several generally-accepted accounting principles and apply them to the club industry.
      2. Identify the content, uses, and purposes of the three major financial statements.
      3. Apply and interpret several financial ratios that help club managers better manage and organize operations.
      4. Explain cost concepts and apply them to club operations.
      5. Differentiate between operations budgets, cash budgets, and capital budgets and describe the nature and function of each.
      6. Outline the elements involved in managing current assets effectively.
      7. Describe the goals and elements of an effective internal control system.
      8. Identify the important points associated with accounting for property, equipment, fixed assets, and payroll-related liabilities.
      9. Outline the growing uses of computer technology in clubs.
      10. Distinguish between capital and operating leases and explain how to choose between the two options.
      11. Outline the main factors that a club must address before choosing to apply to tax-exempt status, as well as the significant operating restrictions that such status places on clubs.

      Group Teaching Guidelines: This course is designed with 15 chapter sessions that can be combined or broken down to meet a variety of scheduling needs. Class activities are included in the Instructor's Guide.

      Evaluation: The student must complete a comprehensive final examination.

      Learning Resource: Accounting for Club Operations, by Raymond S. Schmidgall and James W. Damitio 

      Presentation Files
      These files, available by chapter, are formatted in Microsoft PowerPoint. 

      Chapter: 1 Introduction to Club Accounting
      Chapter: 2 The Statement of Financial Position
      Chapter: 3 The Statement of Activities
      Chapter: 4 The Statement of Cash Flows
      Chapter: 5 Ratio Analysis
      Chapter: 6 Understanding and Applying Cost Concepts
      Chapter: 7 Operations Budgeting
      Chapter: 8 Current Asset Management
      Chapter: 9 Internal Controls
      Chapter: 10 Capital Budgeting
      Chapter: 11 Property, Equipment, and Other Fixed Assets
      Chapter: 12 Accounting for Payroll-Related Liabilities
      Chapter: 13 Club Technology Applications
      Chapter: 14 Lease Accounting
      Chapter: 15 Taxes

      Related Items

      Course Exam Scan Sheet
      Course Exam Scan Sheet