Finance, Budgeting and Contracts Online - 5 October - 2 November 2021
Understanding the application of accounting, finance and budgeting fundamentals allows the exhibition organizer to make a greater contribution to the growth and financial success of the organization. It is essential the exhibition organizer know the terminology used in financial management to develop a budget and manage the financial strategies of the exhibition. A well-developed and well-administered budget is crucial to enabling the exhibition organizer to accurately project and monitor income and expenses, track cash flow and cost controls and ultimately measure the success of the event and the organization’s return on investment.
After completing this course, the participant should be able to:
- Identify and define common revenue and expense sources for exhibitions and events
- Design practical fee structures for registration, exhibits, sponsorships and advertisements
- Explain basic accounting principles
- Create an exhibition or event budget
- Identify key elements in financial statements used by the exhibition organizer
- Interpret financial statements to demonstrate the value of the exhibition
- Discuss payment methods and currency considerations
- Manage the master account
- Prepare and manage cash flow statements; manage and control cash
- Calculate return on investment (ROI)
- Recognize the importance of proper contracts for exhibitors, facilities and vendors
- Differentiate fundamental contract terms and principles
- Discuss the importance of cancellation and performance clauses
- Explain force majeure and how it may impact an exhibition
- List possible concessions; explain how they are determined
- Define the terminology in standard hotel and facility contracts
- Review provisions and clauses commonly included in hotel and facility contracts
Bob Kelley, CEM, CMM, MSM, has spent his career in the hospitality industry identifying solutions for improving event operations, considering efficiencies and effectiveness, sales and marketing, and ultimately the overall customer experience. He has spent time on both sides of the industry working for a large general service contractor as well as a major show management organization. Bob currently consults concentrating on both tactical and strategic planning in sales and marketing and event planning to associations and trade show organizers. With our new and changing working environment, the focus is on flexibility and adaptability when serving clients and customers.
Bob has been a member of IAEE since 1990, serving on several national committees, representing IAEE internationally, and the national board of directors. Bob earned his CEM in 1996 and was one of the first suppliers to earn their CEM designation.
He has been very active in the Southeastern Chapter of IAEE and is a past recipient of the IAEE National Merit Award. He is also a recipient of the IAEE Distinguished Service Award and the 2014 Educator of the Year Award. Bob believes professional education allows individuals to perform at the pinnacle of their potential. The CEM designation is an excellent way for individuals to identify their dedication to improving their understanding and enhance their professional standing within the industry.