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Master of Business Administration- MBA Semester 3
ET0004 –Event Finance Management- 4 Credits
Assignment Set -1 (60 marks)
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1.Explain about period costs and product costs.
Answer : In addition to the distinction between manufacturing and non-manufacturing costs, there are other ways to look at costs. Costs can also be classified as either product cost or period cost. To understand the difference between product costs and period costs, we must first refresh our understanding of the matching principle from financial accounting. Generally costs are recognized as expenses on the income statement in the period
Q2.How is break-even analysis important in the event management industry? Analyse its applications.
Answer : Breakeven point analysis is a very important tool, especially if you are preparing a business plan, to figure out the volume of sales your arts and crafts business needs to make in order to cover both your variable and fixed costs. At breakeven point, your arts and crafts business has made or lost no money.
Important info for you the
Q3.What are cost centres? How are they important? Elaborate.
Answer : For any business it is important to have an understanding of how much it costs to run various parts of the company, for example a department or a machine in that department. Without this specific knowledge the business might find itself subsidising loss making departments or machines without knowing it. In other words the loss made by a particular cost unit is compensated for by the profits of other units.
Q4.Discuss the sources of financial assistance for event management companies.
Answer : The financial costs associated with cancer are often overwhelming. Even having health insurance doesn’t guarantee you’ll be able to afford treatment. it’s best to start researching your options before a financial crisis develops. This fact sheet lists various sources of financial assistance available to people with
Q5.How important is pricing strategy to a company’s survival? Discuss.
Answer : Survival
Firms rely on price to cover the costs of production, pay expenses, and provide the profit incentive necessary to continue to operate the business. These factors help an organization survive. Most managers pursue strategies that enable their organizations to continue in operation for the long term. Thus, survival is
Q6.Explain the term ‘cash flow management’. Also, outline the different categories of cash flow statement.
Answer : In financial accounting, a cash flow statement, also known as statement of cash flows, is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow