Course Code: BEMP 5003
Academic Year: 2024-2025
A key factor to success in the event industry is profitability. The course will begin with an introduction to accounting concepts and principles, as well as event organizational structures around financial processes. The recording of financial activities will be explored briefly through the accounting cycle and accounting equations. With this foundation, students will learn the income statement and commonly used ratios to develop their managerial decision-making skills for event operations. After an overview of basic pricing and cost analysis methods, students will explore concepts related to budgets, prepare different types of budgets for events and ongoing establishments, and analyze performance using variance analysis. Students will apply this knowledge to prepare a comprehensive event budget. Finally, the course will end with the balance sheet and statement of cash flows, their components and purpose, and related financial ratios to analyze financial health of the organization.