20 - 30 Hours

This course will introduce essential tools needed to prepare a budget for events of all sizes. You will study information gathering, analyzing goals/objectives and preparing and communicating presentations to clients. You will learn formulas to calculate costs, revenues, processing and determine a fee structure. You will learn to reconcile the budget and analyze it for variance to provide feedback to the client and you/your staff for future events.

Upon successful completion of this course, you will be able to:

• Identify the purpose of a budget.
• Define the roles event team members play in creating and maintaining a budget.
• Describe the relationship between event objectives and the budget.
• Develop a budgetary philosophy.
• Identify event related expenses.
• Identify event related revenue streams.
• Categorize expenses and revenues. (fixed, variable, and indirect costs)
• Establish a bid collection process.
• Evaluate bids for event related services and goods.
• Perform a break-even analysis.
• Develop an attendance fee structure.
• Prepare a statement of revenue and expenses.
• Explain basic accounting terminology.
• Prepare a cash flow statement.
• Describe cost controlling methods.
• Differentiate between the four basic types of event planning fee structures.
• Describe event planning services.
• Outline a client contract.
• Reconcile a budget.
• Identify levels and causes of variance.

Successful completion of all assignments and quizzes. One final comprehensive exam is given for the course.

Each Lesson includes an online quiz and some include an exercise. Students are required to complete one exam.

Lesson   1 -  Overview of Budgeting for Events
Lesson   2 -  Preparing a Budget and Cash Management Strategies
Lesson   3 -  Bids and Contracts
Lesson   4 -  Analysis and Pricing Structures
Lesson   5 -  Determine an Appropriate Fee Structure
Lesson   6 -  Calculations and Basic Accounting
Lesson   7 -  Post Event Financial Analysis
Exam