1. TH230 Dynamics of Trip\Event Planning Welcome to Seminar Unit 8

2. Unit 6 Introduction to Event Planning Hospitality Managers: Behave in appropriate manner Manage un-ethical situations Yield not to temptation Be organized

3. Event Planning: Determine Purpose Know Group’s Interest Develop Timeline Plan/Implement Details

4. Unit 7 Financial Management Operating Budget for Event Income Expenses Fixed Variable

5. Income/Revenues Fees from Clients Entry Fees Booth Rentals Merchandizing Miscellaneous

6. Expenses Fixed Variable Semi-variable or mixed expenses

7. Fixed Expenses Rent Insurance premiums Salaries Subscriptions Professional memberships fees Office furniture Bands Dancers Speakers/MC’s Decorations Lighting Sound/Audio/Visu al Management fee

8. Variable Expense Based on Number of People Table Decorations Food/Beverage Band/Entertainer Meals

9. Break-Even Point Fixed + Variable + Contingency # Tickets Sold Break-Even Point = Above this is Profit!

10. Profit & Loss Statement Includes: Total Revenues Total Expenses Net Loss or Net Gain (Profit)

11. Balance Sheet Includes: Assets Liabilities Owner’s Equity A balance sheet shows a company’s financial condition at one point in time.

12. Cash Flow Analysis: Income Received – Expenses = Cash Flow