Finance, Budgeting and Contracts Online - 6 October - 3 November 2020

  • Registration Closed

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, has spent his career in the hospitality industry identifying solutions for improving event operations, sales and marketing and ultimately, the overall customer experience.  He has been involved with IAEE since 1990, serving on several committees, the national board of directors, as well as being an active member and leader of the Southeastern Chapter.  Bob has received the National Merit Award and the Distinguished Service Award from IAEE for his years of service to the association and the industry.  Bob believes professional education allows individuals to perform at their greatest potential.  The CEM designation is an excellent way for individuals to identify their dedication to improving their understanding of the industry and enhance their professional standing within the industry. 

Bob Kelley, CEM, CMM, bobkelley@bellsouth.net, 770-330-6479

  • Finance, Budgeting and Contracts Exam - FBC Online October

    Finance, Budgeting and Contracts Exam - FBC Online October

    Finance, Budgeting and Contracts Exam - FBC Online October

  • Finance, Budgeting and Contracts Week One - October

    Week One

    Welcome to Week One! 

    Each of the assignments must be completed in sequential order. For example, you will not be able to move on to Week One Exercise One until you have agreed to the terms of agreement; you will not be able to move on to Week One Exercise Two until you have completed Week One Exercise One.

    Each discussion board exercise requires that you make at least two posts. Your first post must be your answer to the exercise and your second post must be a reply to another student's post. You can certainly make more than two posts.

    You must make a 100% on the quiz to successfully complete it. You will be able to see the questions you answered incorrectly after your first attempt only. You can take the quiz as many times as needed to pass.

    This week, make sure you have reviewed the syllabus and downloaded a copy of the course workbook (both located in the HANDOUTS section).

    Read the following from the course workbook:

    LEARNING OBJECTIVES

    PART 1 - BUDGET MANAGEMENT

    ·         Budget Philosophy

    ·         Types of Budges

    ·         Budget Development Process

    ·         Budget Contingencies

    ·         Calculating Expenses

    ·         Expense Categories

    ·         Revenue Categories

    ·         Registration Fees

    ·         Exhibit Sales

    ·         Establishing Exhibit Space Rental Fees

    ·         Sponsorships

    ·         Advertising

    ·         Corporate Social Responsibility (CSR) and Green Initiatives

    ·         Monitoring the Budget     

    You have two discussion exercises to complete and a short quiz.

    When answering the discussion exercises, use your past experience as well as the knowledge gained from reading the course workbook. Through your answers, your peer’s answers, and the resulting discussion, your instructor will help you to look deeper into the course topics.

    If at any time you experience technical issues, please contact Jennifer at jpotter@iaee.com.