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The relevance of sports financing
19-22Views:205According to estimations sports exploit approximately two percent of world GDP. In addition sports represent an important function in culture, socialization and also in education, act an outstanding role in economy, as well, though academic researchers cannot find positive relationship between sports financing and economic growth. Sports were originally civil actions, with non-profit nature, where they did not aspire to reach high returns, but fulfilment of sport itself. However returns can be realized and reinvested in sports. This paper tries to collect the different aspects of sports financing in order to highlight its relevance.
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Sports financing in Croatia
31-34Views:150Sport is a complex social activity that encompasses various areas. Some of these activities come within the category of public needs, which implies that sport is an activity of wider social interest and requires public intervention in its financing. These needs are determined by law and are an integral part of state and local budgets. It is also indisputable that the sport is an activity of exceptional significance for the society and it is equally clear that the investment into sport in Croatia is not proportional to that significance and top scores, which are achieved by the Croatian athletes. Sport can be in a partner relationship with the economy and the promoter of social changes and habits, but in order to become and remain that, general public has to be truthfully interested into sports.
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Financing and operating questions of sports facilities
5-8Views:267This paper tends to present financing and operating questions of sports facilities. Infrastructure is very important for the sport businesses. Sports facilities and sports institutions, infrastructure development, and their legal, financial, accounting conditionality can be defined by the investors and the government (subsidies, taxes, etc.). Financial questions and IT background of facility management can be crucial for the enterprises interested in operating sports businesses. The paper focuses on these kinds of aspects of facility management based on practical examples.
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Establishment of the Customer Perspective of the Balanced Scorecard System at Sports Enterprises Through the Example of a Hungarian Football Club
5-16Views:680In our present world, more and more attention is being paid to the evaluation and monitoring of different sports organizations, which is because the support of spectator sports has become an important issue. Our fundamental assumption is that football clubs of our time should operate just like large companies in the business sectors. Obviously, it is an essential prerequisite that controlling, a controlling system or a performance measurement system be applied at the business entities operating the clubs. According to our experience, conscious financing of organizations is often neglected in the course of the management processes of sports companies. It is necessary to create the conditions at these organizations that enable managerial decision support and the establishment of a controlling system. It is essential to find controlling methods and tools that can be successfully applied in the life of a sports organization and that ensure the harmonization and coordination of different processes. Consequently, controlling provides a higher level of transparency and information supply for decision makers. The aim of present study is to introduce the Balanced Scorecard (The Balanced Scorecard is a balanced strategic system of indexes, which measures the performance of companies for the sake of implementing the strategy), one of the tools of strategic controlling and its application to sports companies through an example of a Hungarian football club.
JEL Classification: Z23
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Information content of a sports undertaking’s statements serving different purposes – particularly with reference to the player rights
119-133Views:168In the 21st century, sport is not just a fun, social cohesive force but also a business; it has become an independent industry by now and several countries possess developed sport markets. According to estimates, sport accounts for 4% of the EU’s GDP. The actuality of our research is given by the fact that the economic aspect of sports develops continuously which is also due to that more and more amounts already stream into sports in our days. In Hungary, sport is mainly state aided and has mostly financing problems while the sport businesses existing in the more developed Western Europe are principally sponsored by the private sector. The government considers sport as a strategic branch (HERCZEG et al, 2015) and manages as such because they see the international breakthrough potencies in sport as well. Sport companies must also adapt the business-based thinking, which requires the strategic planning and operation (BECSKY, 2011). The research covers the subject of economic approach of the players’ rights. The task of accounting is to give a true and fair image about the property, income and financial situation of an undertaking. Information provided by accounting is essential for both the management decisionmaking and the market operators. In Hungary, the sports undertakings, as each managing entity, have to prepare their statements according to the Act C of 2000 on Accounting (AoA.) (NAGY – BÁCSNÉ BÁBA, 2014). The purpose of this research is to examine how a domestic sports undertaking demonstrates the value of available players in the books and how the incomes and expenditures incurred with the players are accounted for, based on the regulations of the Hungarian, international associations and the Union of European Football Associations (hereinafter: UEFA). In order that the leaders of the businesses can make quick and appropriate economic decisions, it is essential in this intensively changing world that an enterprise should have a well-functioning accounting system based on up-to-date information. International Financial Reporting Standards (hereinafter: IFRS) are intended to provide the comparability across borders. Firstly, we deal with the accounting reporting system, both the Hungarian, international financial reporting standards and, relating to UEFA, the investigation of the intangible assets to a great extent during analysing the balance sheets. Then, we examine the income statements from the viewpoint player transfers. To what extent the rules of a statement laid down by UEFA differ from the ones of a statement prepared according to AoA? What is the difference in domestic and international relations? In this study, we search after the answers for questions mentioned before.
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