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Manpreet Kaur, Lovely Professional University Unit 5: Financial Management

Unit 5: Financial Management Notes

CONTENTS

Objectives
Introduction
5.1 Event Budget
5.2 Financial Analysis
5.3 Financing the Event

5.4 Typical Event Costs
5.5 Break Even Analysis
5.5.1 Break-even Point
5.5.2 Assumptions of Break-even Analysis

5.5.3 Methods of Break-even Analysis
5.5.4 Margin of Safety
5.5.5 Applications in Event Management Industry
5.5.6 Limitations

5.6 Cash Flow for an Event
5.7 Financial Control System
5.8 Panic System
5.9 Sponsorship of Events

5.10 Summary
5.11 Keywords
5.12 Review Questions
5.13 Further Readings

Objectives

After studying this unit, you should be able to:
Know the need for having finance
Discuss the role of event budget
Identify the various element of budget planning
Explain the concept of budgetary aspect in events
Describe the Financial analysis of the event
Introduction

What defines a successful event? The effective communication of important ideas to a responsive
audience? Efficient organisation within agreed deadlines? An inspiring, well-equipped venue?
They’re all vital, but without efficient (and profitable) financial management, even the best-

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