The Financial Management of Event ProductionLaajuus (3 ECTS)

Objective

The objective is to provide a sound command of basic calculations and basic aspects of financial calculus related to event production and the concretization of various areas of event production with examples of calculation taken from practice.

The student will have a command of spreadsheet calculation programs, basic calculations as part of the producer/cultural manager’s work and the budgeting of events with their specific areas. The student will learn the use of the calculatory method as part of the producer/cultural manager’s work. This course provides skills for the study and realization of practical tasks in the financial management of event production and related applications.

Content

The charting and teaching of the financial management of event production with exercises
The use of spreadsheet calculation programs
Income and expenditure in event product
Purchases, tendering and purchased services
The organization of ticket sales, advance sales, sales commissions
The advertising and marketing budget
Copyright and use fees
Permit and licence fees and insurance
Salary administration
Value-added tax in event production
The preparation of an event budget
Cash flow calculation

Assessment criteria, satisfactory (1)

The student can use calculation program as tool in basic economic administration. He/she knows basic principles of budgeting and can formulate and argument budget for cultural event.

Assessment criteria, good (3)

The student uses a spreadsheet calculation program as a tool in economic administration. In addition, the student can apply the possibilities of a calculation program in his/her work. He/she can draft a realistic and concrete budget for a cultural event using relevant sources of information. The student can evaluate budgeting of a cultural event and knows about the potential risk effects when drafting and evaluating a budget.

Assessment criteria, excellent (5)

The student holds good skills in spreadsheet calculation program and can use it as a tool in economic administration in addition the student can apply calculation program possibilities effectively in his/her work. He/she can draft realistic and concrete budget for cultural event using relevant sources of information. The student can evaluate critically budgeting of a cultural event and take in account potential risk effects when drafting and evaluating a budget.