ACCT 401 - Accounting and Taxation Implications in the Sports Industry

3 Credit(s)

This course is designed to explore selected accounting and tax issues particularly common to the sport industry. Topics include the accounting and tax treatment of leases, television rights, intangible assets, and deferred compensation contracts. In addition, franchise accounting valuation measures are discussed along with related party transactions and a variety of contingencies. In this area, conflicts of interest and ethical matters surrounding bargaining issues and players’ contracts are examined. Further, because this industry is characterized by a large volume of transactions with significant amounts of cash changing hands, students will examine budgeting procedures and internal controls pertinent to the sports franchise. Finally, the course also addresses two controversial areas pertaining to amateur sports: the tax consequences of athletic scholarships to the granting institution and the scholarship-recipient and the status of contributions and similar payments to amateur athletic organizations.
Prerequisite(s): ACCT 105 and ACCT 205.