Finance, Accounting, and Banking course

I agree with your context regarding how Finance, Accounting, and Banking course helps in realization of professional and personal financial acumen. With your key interests in sports management, the course is pivotal in making important decisions such as planning, budgeting, and development of financial strategy in sports. Knowledge in finance helps one to make judgments regarding how to spend the funds available through strategic planning and budgeting. Such ensures the organization does not experience issues related to financial misappropriation like bankruptcy. The information regarding previous records is essential in establishing programs that can facilitate the creation of strategy and budget (Ohio University, n.d.). The financial strategy entails considering current trends relating to an investment in infrastructure, sporting personnel, and coaches and investing in fans through merchandise and concessions. The factors described above can be achieved by examining internal versus external constraints affecting the sporting sector. 

The concepts covered in inventory management and budgeting on cash available are imperative in planning effective and smart decisions on financial spending. The information provided allows one to be aware of areas that require extensive spending for better yields in investment for the sporting organization. The information on budgeting in finance allows one to make an important decision about long and short investments (Ohio University, n.d.). The management makes vital decisions through forecasting and planning, which is normally achieved by engaging in sports analysis. Engaging in sport finance analysis enables sports managers to measure their spending habits and monitor their impacts on overall organization performance. The mechanism allows management to be agile and adjust their budgeting needs accordingly. Strong financial acumen in sports administration boosts the firm's financial success since it helps in development decisions that serve balanced interests in the sporting business. 

Reference 

Ohio University. (n.d.). "Finance Administration of Sports: Budgeting Forecasting, and Planning”. https://onlinemasters.ohio.edu/blog/finance-administration-of-sports-budgeting-forecasting-and-planning