Finance, Budgeting and Contracts - VIRTUAL CLASS - 11/14/23
- Non-member - $440
- Member - $299
- Freeman Member - $239.20
This class will be conducted VIRTUALLY through Zoom on 11/14/23 from 8:30am - 2:30pm CST. There will be an optional 30-minute study period followed by an hour for the exam. Those that are recertifying, not taking the exam or taking the course as not part of the CEM program will end their day at 2:30pm CST.
You are required to read the workbook before class. It is located under the “Workbook” tab.
You must have a webcam to take this class.
Understanding the terminology and 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 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:
PART 1 – Budget Management
- 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
PART 2 – Accounting Principles
- Identify key elements in financial statements used by the exhibition organizer
- Interpret financial statements to demonstrate the value of the exhibition
- Understand how to manage the master account
- Prepare and manage cash flow statements; manage and control cash
- Calculate return on investment (ROI)
PART 3 – Basics of Hotel and Venue Contracts
- Recognize the importance of proper contracts for exhibitors, facilities and vendors
- Discuss the importance of cancellation and performance clauses
- Explain force majeure and how it may impact an exhibition
- List possible concessions and 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