Learn to manage administration and financial operations for the Leisure or Recreation Industry
Leisure services and facilities not only need finance to operate, but that finance needs to be managed well if the operation is to be viable. Regardless of whether it is a public or private enterprise; the risk of ineffective financial management is ever present.
This course provides a unique opportunity for upskilling in financial management, within the context of the leisure industry. It is a valuable professional development course for anyone already working as a manager in the leisure industry; and a great opportunity for others to improve their skills, career and business prospects.
Lesson Structure
There are 8 lessons in this course:
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Financial Analysis
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Economics of the Leisure Industry
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Financial Records
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Steps in the Bookkeeping Process
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Double Entry System of Bookkeeping
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Common Reasons for Financial Difficulties
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Costing
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Viability and Profitability
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Quality Systems
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Total Quality Management (TQM)
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Budget Control & Financial Planning
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Cash Flow: Planning, Forecasting
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The Money Market
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Financial Institutions
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Buying Goods and Services
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Understanding Cost Structures
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Budgeting Procedures
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Analysis of Financial Reports
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Types of Analytical Ratios
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Efficiency Ratios and Profitability
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Liquidity Analysis and Cash Budgeting
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Gearing and the Rate of Return on Investment
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Risk
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Legal Requirements
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Introduction to Categories of Law
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Basic Common Law - Rights and Obligations
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Protection of Consumers
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Trade Names and Business Registrations
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Employment Law
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Contracts & Using Seals
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The Roles of Courts
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Partnerships
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Superannuation and Taxation
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Funding Opportunities
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User Pays
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Government Subsidised
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Grants, Gifts and Donations
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Sponsorships
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Workplace Communications
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Chain of Command
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Styles of Supervision
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Introducing Change
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Managing Documents
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The scope and nature of office work
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The Functions of an Office
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Office Processes
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Knowledge Storage and Management
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Filing Procedures
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Data Protection
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Record Keeping
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Stock Control
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Managing a Resource Library
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Introduction
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A Reception or Members Lounge
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Library Lending
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Managing a Library
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Copyright
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Legal Deposit
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Managing Information Technology
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PBL Project - Leisure Management Case Study
Each lesson culminates in an assignment which is submitted to the school, marked by the school's tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.
Aims
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Analyse financial records.
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Control a budget for a recreation service or production of a recreation product
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Meet legal reporting requirements in relation to financial management.
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Develop funding opportunities for recreation organisations
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Liaise with senior management, in a recreation industry workplace
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Manage documents in a recreation industry workplace
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Establish a library resource collection for a recreation workplace
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Manage information technology requirements in a recreation workplace
How are Leisure Services Funded?
In an ideal world, a leisure manager can concentrate on providing the very best services, and need not be distracted by financial concerns. This is however unrealistic. Funding is a significant concern to most leisure managers.
Funding may come from various sources, for example:
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User Pays
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Government Subsidised
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Grants, Gifts, Donations
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Fund Raising
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Sponsorship
User Pays Funding
Here the product or service is paid for by the user.
The charges made to the user could be considered as either:
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Partial contribution to costs
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Full contribution to costs
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Costs plus an additional amount for investment in new facilities or services
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Costs plus profit (If the leisure enterprise is a profit making venture)
Government Subsidised Funding
Here government money is provided to partially or fully pay for facilities or services. Many facilities and services that are owned by governments are funded in this way.
Funding is usually allocated on a year by year basis.
Funding is generally allocated for two types of expenditure
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Capital Works or costs
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Operational Costs
Capital expenditure pays for buying equipment and facilities but not for the day to day operation of a facility or program. The operational expenditure covers the day to day costs including wages for staff and maintenance. Sometimes a government may fund the provision of a new facility; but not the operational costs. If budgets come under pressure, sometimes operational costs get cut.
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