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SPORT CLUB HANDBOOK 20162017Table of Contents Overview. 14Standards of Conduct. 59Health & Safety. 1012Club Finances. 1322Introduction Sport Club Mission Statement Sport Club Philosophy Sport Club
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01
Gather all financial documents and records related to the club's income and expenses.
02
Create a comprehensive list of all sources of income, including membership fees, donations, sponsorship, and fundraising activities.
03
Categorize the expenses into different sections such as facility rental, equipment purchase, staff salaries, and miscellaneous expenses.
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Use a spreadsheet or accounting software to create a financial statement that includes a balance sheet, income statement, and cash flow statement.
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Ensure that all income and expenses are accurately recorded in the financial statement.
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Reconcile the financial statement with the bank statements to ensure accuracy.
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Create a budget for the upcoming period based on projected income and expenses.
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Regularly review and update the club's financial records to ensure they reflect the current financial status.
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Seek assistance from a professional accountant or financial advisor if needed to ensure compliance with regulations and best practices.
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Share the club finances with relevant stakeholders, such as club members, board of directors, and sponsors, to provide transparency and accountability.

Who needs club finances?

01
Club administrators who are responsible for managing the financial affairs of the club.
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Club members who want to have visibility into the club's financial health and decision-making processes.
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Board of directors who require accurate financial information to make strategic decisions and set budgets.
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Sponsors and potential donors who want to evaluate the financial stability of the club before providing financial support.
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Regulatory authorities and auditors who need to ensure compliance with financial regulations and standards.
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External stakeholders such as government agencies or grant providers who require financial reports for accountability purposes.
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Club finances refer to the financial records and transactions of a club or organization, detailing its income, expenses, assets, and liabilities.
Clubs or organizations that are registered as legal entities and are subject to financial regulation are required to file club finances.
Club finances can be filled out by documenting all financial transactions, organizing income and expenses, reconciling accounts, and preparing financial statements.
The purpose of club finances is to provide transparency and accountability in the financial management of a club, ensuring compliance with regulations and facilitating decision-making.
Club finances must report details of income sources, expenses, assets, liabilities, financial performance, and compliance with regulations.
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