COST MANAGEMENT IN SPORTS ORGANIZATIONS

Abstract

Taking into account the fact that the vision of the management of sports companies is dominantly focused on achieving the best possible sports results, it is important to emphasize that the primary goal must be accompanied by the achievement of an adequate level of liquidity in the business. The realization of this goal is closely related to and conditioned by the correct approach to cost management. In this regard, the goal of this paper is to emphasize the importance of cost management in sports organizations, all for the purpose of implementing timely and effective decision-making management. The previous practice of financial management took into account only financial accounting for the purposes of reporting to internal and external users. She did not deal with management accounting, which is a necessary basis for making strategic decisions. Taking into account the above, in the paper we will look at the importance of a new approach to the management of sports organizations, which is aimed at cost management in the function of the sustainability of the sports organization while monitoring the achievement of sports results. The research will be conducted by surveying sports organizations that exist in the area of the City of Bijeljina and Brčko District of Bosnia and Herzegovina. The methods that will be applied are analysis, synthesis, generalization, and statistical methods.