Textbook for financial management courses for recreation, leisure, and related fields. Reference for leisure professionals and a resource for university professors in leisure and related fields.
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Textbook for financial management courses for recreation, leisure, and related fields. Reference for leisure professionals and a resource for university professors in leisure and related fields.
David N. Emanuelson, PhD, has three decades of experience working in the leisure services, serving for 12 years as department head of two parks and recreation departments in Illinois and Indiana and 20 years as a park district executive director in Illinois.
Emanuelson also taught courses in parks and recreation administration, public administration and political science for 14 years. Before retiring, Emanuelson held the post of assistant professor at George Williams College of Aurora University, teaching administration, financial management, commercial recreation, facility management, and the economics of parks and recreation. Emanuelson currently works as a consultant in the leisure service industry.
In 2003, he received the Gold Medal Award for Excellence in Parks and Recreation Management and has received nine consecutive Certificates of Achievement for Excellence in Financial Accounting. He is a member of the National Recreation and Park Association, Illinois Park and Recreation Association, Wisconsin Park and Recreation Association, Midwest Political Science Association, and the honorary fraternities Rho Phi Lambda, Pi Alpha Alpha, and Beta Gamma Sigma.
Emanuelson worked closely with his wife, Sharon, on the creation of this book. They reside in DeKalb, Illinois, and enjoy traveling, boating, water sports, and golf.
Chapter 1. The Leisure Services Environment
Leisure and Leisure Services Financial Management Defined
How Leisure Services Began in the United States
Leisure Services Sectors
Challenges Facing Managers Today
Summary
Chapter 2. Managing Resources
Basic Economics
Basic Finance
Summary
Chapter 3. The Art of Accountancy
History of Accounting
Accounting
Posting Transactions
Codes of Ethics and Conduct
Dimensions of Complexity in Leisure Services Accounting
Summary
Chapter 4. The Private Sector
How Greed and Power Affect Business Management
Size of the Private Sector
Focus on Customer Needs
Making a Profit
Debt Versus Equity
Taking on New Owners
Summary
Chapter 5. Private-Sector Accounting
Accounting Standards
Generally Accepted Accounting Principles
Advanced Financial Accounting Concepts
Transparency
Reading Important Financial Reports
Summary
Chapter 6. Private-Sector Reporting and Analysis
Due Diligence
Budgeting
Financial Formulas
Summary
Chapter 7. The Nonprofit Sector
Noncharitable and Charitable Nonprofits
Nonprofit Charitable Status
Fund-Raising and Donations
Boards of Directors
Role of the Nonprofit Manager in Fund-Raising
Financial Challenges
Summary
Chapter 8. Nonprofit Accounting and Reporting
Fund Segregation
Fundamentals of Nonprofit Budgeting
Federal Reporting
Summary
Chapter 9. The Government Sector
Federal Government
State Government
Local Government
Summary
Chapter 10. Government-Sector Accounting
The GASB and the FASB
Annual Financial Reports
Special District CAFRs
Managing the Finances of Governmental Leisure Services
Summary
Chapter 11. Capital Financing and Construction Management
Capital Assets Financial Management
Sources of Financing for the Private Sector
How Nonprofits Fund Capital Improvements
How Governmental Units Fund Capital Improvements
Financing Public Projects Through Referenda
Managing Construction Projects
Summary
Chapter 12. Future Trends
Transparency Requirements
Online Scrutiny
Changes in Financial Reporting
Changes in Technology
Focus on Revenues
Summary