Long Island University Digital Commons @ LIU Undergraduate Honors College Theses 2016- LIU Post 2019 The Accounting, Financial, and Taxation Aspects of Sports Robyn Francis Long Island University,
[email protected] Follow this and additional works at: https://digitalcommons.liu.edu/post_honors_theses Recommended Citation Francis, Robyn, "The Accounting, Financial, and Taxation Aspects of Sports" (2019). Undergraduate Honors College Theses 2016-. 49. https://digitalcommons.liu.edu/post_honors_theses/49 This Thesis is brought to you for free and open access by the LIU Post at Digital Commons @ LIU. It has been accepted for inclusion in Undergraduate Honors College Theses 2016- by an authorized administrator of Digital Commons @ LIU. For more information, please contact
[email protected]. The Accounting, Financial, and Taxation Aspects of Sports An Honors College Thesis By Robyn Francis Fall, 2018 Accountancy Advisor: Michael Abatemarco Reader: Carol Boyer Abstract The anticipation of sports and its urgency in society leaves companies in awe over the mass affect that sports have on society. It's a great time for everyone involved and a lot goes into account on behalf of the fans, players, and coaching staff for their hard work. Many might not be aware about the procedures that go on behind the scenes to provide the marvelous events that bring society together every day. Some of these procedures can be damaging to teams and players, such as the infamous jock tax or unstable contracts. But overall there are rules set in place to protect players rights over exploitation and abuse. Players are also free to negotiate their own contracts and are able to hire people who deal with the legal issues on their behalf.