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Financial Management & Budgeting Flashcards

7 cards from real CSCS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Financial Management & Budgeting flashcards as text

  1. A strength coach is evaluating two vendors: Vendor A charges $500/unit with free shipping, and Vendor B charges $450/unit with $75 shipping per order. For a single order of 10 units, which is less expensive?

    Answer: Vendor B at $4,575 total

    Vendor B total = (10 × $450) + $75 = $4,500 + $75 = $4,575, which is less than Vendor A's $5,000.

  2. The term 'fiscal year' in athletic department budgeting refers to:

    Answer: A 12-month accounting period that may or may not align with the calendar year

    A fiscal year is any 12-month financial period; universities often use July 1–June 30 rather than the calendar year.

  3. Which budget item would MOST likely be classified as a capital expenditure rather than an operating expense?

    Answer: Purchase of a $25,000 force plate system

    Capital expenditures involve large purchases of long-term assets (typically over $5,000), such as force plates used for multiple years.

  4. Which practice BEST demonstrates ethical financial management for a CSCS professional managing a department budget?

    Answer: Maintaining detailed records of all expenditures with supporting receipts

    Maintaining detailed records with receipts ensures transparency, accountability, and compliance with institutional and regulatory requirements.

  5. A strength and conditioning program is considering outsourcing sports nutrition consulting to reduce costs. This decision is BEST evaluated using a:

    Answer: Make-or-buy analysis

    A make-or-buy analysis compares the total cost of providing a service in-house versus outsourcing to determine the more economical option.

  6. A head strength coach is asked to present next year's budget to athletic administration. The presentation should PRIMARILY emphasize:

    Answer: How the requested budget aligns with program goals and athlete outcomes

    Linking budget requests to measurable program goals and athlete performance outcomes makes the strongest case to decision-makers.

  7. Encumbrance accounting in an athletic department budget refers to:

    Answer: Funds committed or reserved for future obligations not yet paid

    Encumbrances are purchase commitments (e.g., approved purchase orders) that reserve budget funds before actual payment occurs.