Events Financial Management Assignment -
Learning Outcomes:
1. Indicate the main purposes of financial management within the events industry.
2. Use a range of tools, techniques and apply creativity to solve problems through qualitative and quantitative data relevant to the study of economics.
3. Determine appropriate methods of calculating break-even, profitability and capital input costs.
4. Select and use appropriate C&IT technologies.
Assessment Task - Assuming you have been recently appointed as a financial advisor of a medium sized event company of your own choice. The company plans to organise a 'dinner and dance party' for the forthcoming valentine day. The company intends to organise similar events for various other occasions and your immediate task is to prepare a report that will be discussed by the management of the company.
You are required to:
i) Advise a range of methods in generating income during the event.
ii) Recommend pricing strategies available for pricing the entry tickets of the event.
iii) Discuss the main purposes of financial management within the events industry.
iv) Discuss the importance of break even analysis, providing calculations of the break even points in terms of revenue and number of customers and demonstrate a graphical break even chart clearly labelling the chart.(Please do not copy and paste the chart from internet sources, you should demonstrate your IT skills).
The word count excludes appendices and you must include, within the appendices, all relevant supporting business report documentation.