FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT - Cash, Borrow, Assess Why? Requires...

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FINANCIAL MANAGEMENT EQUITY vs. NON-EQUITY EQUITY NON-EQUITY 1. MEMBERS 1.FINANCIAL 2. STAFF 2.STAFF 3. FINANCIAL 3.MEMBERS WHO DOES IT: General Manager Controller Treasurer Finance Committee WHAT DO THEY DO: Set Financial Objective With the Board Communicate to Managers and Staff Monitor the Progress/Set Controls Fiduciary Responsibility: Entrusted by the Members to Keep the Club’s Assets Safe
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BUDGETING: 2 Types: 1. Operations: Guideline for the Mgr. Predicts Revenues and Expenses Zero-Based vs. Historical 2. Capital: Building and Equipment
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Unformatted text preview: Cash, Borrow, Assess Why? Requires you to Examine Alternatives Provides a Standard of Comparison Forces you to Look Forward Involves the Entire Team FORECASTING BALANCE SHEET aka Statement of Financial Position ASSETS=LIABILITIES+EQUITY INCOME STATEMENT aka Statement of Activities REVENUES-COGS-EXPENSES = PROFIT REVENUES COGS % of Sales PAYROLL % of Sales Cost of Benefits OT EXPENSES STATEMENT OF CASHFLOWS Operations Investing Financing STATISTICS...
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FINANCIAL MANAGEMENT - Cash, Borrow, Assess Why? Requires...

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