SHEILA/ PLANNING- UP TO 2/1/2025- ***** IMPORTANT: PLEASE MAKE SURE THAT ALL WORK IS AUTHENTIC- DO NOT USE AI/ PLAGERISE AS THE ASSIGNMENT WILL BE RUN THROUGH TURN IT IN!!!!!***** ****** THIS ASSIGNM

SHEILA/ PLANNING- UP TO 2/1/2025-

***** IMPORTANT: PLEASE MAKE SURE THAT ALL WORK IS AUTHENTIC- DO NOT USE AI/ PLAGERISE AS THE ASSIGNMENT WILL BE RUN THROUGH TURN IT IN!!!!!***** 

****** THIS ASSIGNMENT HAS 2 PARTS / PLEASE LABEL EACH PART SEPARATELY WITH REFERENCES WHEN COMPLETED******

**** THM 209 Fundamentals of Event Planning****

PART 1- Module 2 - DISCUSSION

Financial & Accounting Terminology

After studying Module 3: Lecture Materials & Resources, discuss the following:

A.    From the vocabulary list below, choose four terms from chapter 5. Explain each term to your class in your own words. Describe a situation in event planning where you may need to employ the term.

·       Chapter 5

o   Account Codes

o   Accounts Payable

o   Accounts Receivable

o   Barter

o   Budget

o   Deposit

o   Hold Back

o   Venture Philanthropy

B.    Read "Managing Financial Statements - Image and Effect." Then, discuss appropriate management techniques for handling financial statements.

SUBMISSION INSTRUCTIONS:

·       Your initial post should be at least 300 words, formatted and cited in current APA style with support from at least 2 academic sources.

Important Class Pointers

·       Using AI to write papers- not acceptable.

·       Using sources such as Wikipedia, Investopedia, and such- are not acceptable.

·       All written assignments should be double space, APA 7 style, using font 12, Times New Roman.

PART 2- Module 3 – ASSIGNMENT

 Planning & Allocating Your Event Budget; Forging Business Partnerships

In this assignment, you will be challenged to plan and allocate an event budget for the event you created in the Module 2 Assignment.

LINK: https://www.mediafire.com/file/rgy7s0htlxqc4rj/Sheila+R.+Lewis-+Module+2-+Assignment.pdf/file

Instructions:

1.     Refer to Module 2 assignment.

2.     Research and estimate costs. Make a list of the different purchases you will need to make to make your event come to life.

·       Consider transportation, catering services, signage costs etc.

3.     Create a budget spreadsheet. Use Microsoft Excel or Google Sheets to create a budget spreadsheet.

4.     Identify a budget allocation. Identify how much money your event will cost in total.

5.     Identify sources of income. How much money do you think you will earn on the event? How will you make money based on this event? Does this align with your business goals/objectives?

6.     Identify expenses. Make an expenses column that subtracts from your total amount (use coding to achieve this). Consider:

·       Off-premise caterers

·       On-premise caterers

·       Venders/business partners

·       Production expenses.

·       Visa expenses (if applicable.)

7.     Contingency planning. Allocate a portion of your budget for unforeseen expenses/emergencies. What do you believe is a reasonable amount to allocate? 

8.     Budget justification. Prepare a justification for each major budget item. Answer below your table.

9.     Vendors/event partners. Explain your process for identifying, selecting and supervising the best vender/event partners for our event. How will you use legal agreements to protect both yourself and your business partners? Answer below your table.

Submission Instructions:

·       Submit as a .xlsx file.

·       Format your budget in a way that is clear, coherent, consistent, and logical.

·       Respond to questions 8 and 9 in paragraph format below your spreadsheet. Your responses should be formatted per APA format and 300 words in length. Incorporate a minimum of 3 sources in your submission.