World Team Sports

1435 Words6 Pages
World Team Sports Introduction Over the last several years, the budgets of public entities and nonprofit organizations have been increasingly brought to the forefront. This is because the industry has expanded to $5 billion a year in revenues and there are increasing pressures for added amount of accountability using self-regulation. At the heart of this approach, is to have nonprofits provide the public with a full disclosure of all activities. In the case of World Team Sports, they are following a similar kind of strategy. To fully understand how this is occurring, requires examining the financials of the organization. This will be accomplished by looking at: the budgeting process and the ongoing management of cash / other assets. Together, these different elements will provide the greatest insights as to the underlying strengths and weaknesses of the practices utilized by this nonprofit entity. (Bothwell, 2000) Budgeting process of World Team Sports The budgeting process that is used by World Team Sports is one that is based on: line item principles. This is when the organization will specifically state precise areas that are assets and liabilities to determine profitability. For a nonprofit, this will have a dramatic impact on their ability to provide a wide variety of support and services to stakeholders. (Graham, 2011) ("World Team Sports," 2010) ("Exemption Requirements," 2012) Briefly describe the budgeting process World Team Sport. And connect to the
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