You were promoted to Director of Events at S&S Event Company. You are asked to develop the three major financial statements for your proposed event. The tast of Madison in Madison, Wisconsin. You were also told that you must identify four (4) potential problems that could cause your future project’s financial instability and provide solutions to how you will mitigate these problems. The executive team is also looking for you to discuss ways to use revenue management to increase the event spaces and overall event project. You are also required to provide a training manual on how you will train employees in practicing good revenue management techniques and how to mitigate financial instability in your company. Below are the main areas that must be included in your presentation manual.
Section A
This section of your paper includes your event location and site venue details, balance sheet, income statement, and statement of cashflows. All statements must have appropriate headings.
Event Details (1 page)
Select the type of event you would use for this event project.
Provide a brief descriiption of the event, including the theme you will use. This must include an event title and why you have chosen this theme or title.
Provide a brief descriiption of your event’s location, and site venue
Balance Sheet (1 page)
Your balance sheet must include numbers that you have researched or is closely related to the actual price of the items. Please ensure that both your Total Assets and Total Liabilities and Owner’s Equity are equal. Please include the following but limited to:
Assets
Cash
Accounts receivable
Money spent on investments
Liabilities and Owner’s Equity
Accounts payable
Notes payable
Owner’s Equity
Owner’s Capital
Provide a brief descriiption of your analysis
Income Statement (1 page)
Your income statement must include numbers that you have researched or is closely related to the actual price of the items. Please ensure that your income statement shows a net income for the period. Please include the following but limited to:
Revenue
Expenses, total revenue, net income, etc.
Provide a brief descriiption of your analysis
Statement of Cash Flows (1 page)
Your statement of cash flows must include numbers that you have on both the balance sheet and income statement. Please ensure that your statement of cash flows shows a total cash inflows, total cash outflows, and increase in cash for the period. Please include the following but limited to:
Cash Inflows
Investment by owner
Notes payable
Cash sales
Cash Outflows
Equipment purchase
Payment to vendors
Payment for labor
Payment for operating expenses
Provide a brief descriiption of your analysis
SECTION B
This section of your paper includes your discussion on financial instability, methods on how to mitigate financial problems, training manual and how revenue management will be used in the company. You must discuss in detail all the sections that are related to your event.
Financial Instability (1 page).
Identify four (4) potential problems that could cause financial instability in your future project.
Discuss three (3) ways you would mitigate the problems.
Revenue Management (2 pages)
For your proposed event, discuss three (3) steps, you will use revenue management to maximize revenue.
Explain two (2) options you can use your event space to maximize profit.
Choose one (1) of the event management software listed in the HotelTechReport (n.d.) article and explain how it would help you optimize revenue. Please describe at least two (2) of its features.
Training Manual for Employees (3 pages)
The Executive Team asks that you create a training manual to train your employees on how to deal with financial problems in the company. Your training manual should be 2 to 3 pages and include the following:
Discuss four (4) steps on how to identify the financial problems.
Explain four (4) actions on how to mitigate these problems.
Provide three (3) ways they can do a budget cut on future events.
Identify at least two (2) free technology software that will be used to help mitigate the problems.
Identify three (3) ways in which you would train employees in revenue management.
Discuss why these technologies were chosen and how they will benefit employees and the overall organizational performance.
Last Completed Projects
| topic title | academic level | Writer | delivered |
|---|