BMC - EVM 60104 Event Marketing by Philip Gan CK https://padlet.com/philip_cheekeat_gan/evm60104_financial About financial reporting for events and budgeting tools. en-us 2016-11-17 02:11:20 UTC 2016-11-17 03:49:47 UTC hello@padlet.com Event Financial Reporting philip_cheekeat_gan https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138294204 Take a look at some of the annual reports uploaded on TIMeS.  

As future event planners/managers/marketers, you will need to work closely with the financial team to ensure your event don't suffer major financial discrepancies. 

In groups of 4, analyse the reports and provide a summary of the event company or event or organisation's financial reporting on events/exhibitions. Specifically, observe and study what is being reported. (Look at the important factors such as turnout, ticket sales and revenue etc). 

Post your summary according to this format: 

1) What was the report?
2) Background of the organisation/event 
3) Summary of important details in the report.
4) In your opinion, how did the organisation fare in terms of their financial health? Were they profiting or making losses? 
5) what were their recommendations or predictions on future prospects and challenges (if any) mentioned in the report. 


]]> 2016-11-17 02:17:19 UTC https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138294204 Black and White (Billyyyyyyyy, Eliane, Theresa, Ako) https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138296641 1) What was the report?
The report includes the information for Fourth Quarter and Full Year 2015 Financial Results, press release,  financial highlights and financial statements. 

2) Background of the organisation/event 
Cvent, Inc. is a leading cloud-based enterprise event management company, with over 15,800 customers worldwide. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys. Cvent solutions optimize the entire event management value chain and have enabled clients around the world to manage hundreds of thousands of meetings and events. 

3) Summary of important details in the report.
Revenue: $130.7 million, 31.1% increased from 2014
Operating (Loss) income: Loss $5.4 million - company consumer ticketing and related mobile businesses
Net (Loss) income: Loss $5.4 million - sales of company consumer ticketing and related mobile businesses. Net loss per share $0.45 based on $41.6 million shares.
Adjusted EBITDA: $27.5 million, 14.6% margin.
 
4) In your opinion, how did the organisation fare in terms of their financial health? Were they profiting or making losses?
The organization was making losses because they were spending too much on sales and marketing efforts, almost 41% of their revenue. It had negative return on assets and return on equity. They were also making more losses in comparison with 2014 based on its operating income of $0.2 million loss and its current $5.4 million loss. Its net income in 2014 was $1.8 million in comparison with its current net (loss) income of $5.4 million. 

5) What were their recommendations or predictions on future prospects and challenges (if any) mentioned in the report. 
Future plans: 
i) Invest in technology to broaden its reach to new customers around the world and expand relationships with existing customers. 
ii) Expand sales team in 2016, especially in account management, to further expand relationships with enterprise customers. 

Future predictions:
i) Growing leadership position
ii) Vast opportunities
iii) Produce strong revenue growth and adjusted EBITDA.]]> 2016-11-17 02:48:42 UTC https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138296641 Amelia, Faustina, Najwa, Samm https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138296657 1)Tourism and Events Queensland's report includes information regarding their annual progress of the company inclusive of the press kits, budgeting and accounts.
2)Backgrounder:
- Established by the Queensland Government in December 2012, Tourism and Events Queensland (TEQ) is a statutory body under the Tourism and Events Queensland Act 2012 and part of the por olio of Tourism, Major Events, Small Business and the Commonwealth Games. 
- Leads in tourism marketing, destination and experience development and is an events agency
- Aim to build Queenland's tourism and events industry to cultivate innovation and allow growth in the industry as well as boost visitor expenditure 
- a consumer-led, experience-focused, destination delivered organisation that connects people and places through innovations on and collaboration with the tourism and events industry. 
- Function of TEQ: to attract local and international tourists to travel to Queensland through promoting and marketing Queensland, develop and plan the tourism experience and destinations.
- The more tourism takes place in Queensland, it will contribute to Queensland's economy, boost Queensland's image and foster community pride in Queensland. 
- Management: 2015-16, Senior executive team comprised of 5 Group Executives 
- Led by CEO Leanne Coddington
- Executive teams include: 
                - global marketing
                - destinations & global partnerships
                - events
                - corporate affairs 
                - corporate services
- Contact info:
30 Makerston St, Brisbane QLD 4000 GPO Box 328, Brisbane QLD 4001 Tel: +61 (7) 3535 3535 www.teq.queensland.com www.teq.queensland.com/annualreport

3) Net Income: 
- Annually: Dropped from $118,909,000 to $115,556,000 (loss of 3,353,000)
- Original budget: $112,578,000
- Actual usage: $111,523,000
- Variance of 1% with of profit: $1,055,000
Total assets: 
- Original budget: $12,879,000, 
- Actual usage: $8,250,000, 
- Variance: $4,629,000, 36%profit
Total liabilities: 
- Original budget: $10,670,000
- Actual usage: $6,705,000
- Variance: $3,965,000 with profit of 37%
Equity: 
- Original budget: $2,209,000
- Actual usage: $1,545,000
- Variance: $664,000 with profit of 30%

4)* Variable economic conditions within Australia and in key source markets that can impact visitor numbers, expenditure and average length of stay; 
* Competition from other national and international event destinations to secure and develop events; 
* Changing visitor expectations of tourism and events products, experiences and destinations in a highly competitive environment; and 
* Crises and unexpected events, including adverse weather events, which can depress tourism demand and influence consumer perception. 
Recommendation or Prediction in future:
Their Objective for 2016-17. 
 • Deliver and promote a world-class events calendar
• Market the best address on earth
• Focus on Asia 
• Aviation access and strategic partnerships 
• Destination and experience development. 

Key focus areas for 2016-17 will include: 

• Transitioning TEQ’s strategic marketing approach to include a greater focus on Queensland as the master brand and signature experiences that leverage relevant destinations. 
 
• Accelerating efforts to target priority Asian markets and maximising the tourism potential and engagement for Queensland from these fast growing visitor markets. 

• Strengthening Queensland's events calendar through: attracting and securing major events for Queensland; utilizing the It’s Live! in Queensland event marketing platform to convert awareness into visitation; and maximising tourism opportunities associated with the Gold Coast 2018 Commonwealth Games.

• Strengthening existing and identifying new strategic partnerships with airlines, travel trade and industry and delivering activities under established partnerships.

• Supporting TEQ’s partnership with Queensland’s 13 RTOs through the Tourism Network Funding Program 2016-2019; and 

•  A key focus will be identifying partnership opportunities with tertiary education institutions.
5)Total consolidated expenses for 2015-16 were $115.74 million, of which $89.49 million was invested. 
Consolidated grant payment expenses for 2015-16 totalled $39.33 million compared with $43.74 million for the prior year. This reduction the re-allocation of budget between grant payments and Marke Ng, development and events support expenses in line with TEQ’s approved 2015-16 strategy and to align the alloca on of event funding budgets with contractual milestones contained in event funding contracts. Consolidated employee expenses were $18.64 million. The majority of employees work directly on marke ng, development, research and events promo on and staging activities both in Australia and overseas. 

The event budget managed to save 1% from the actual income of continuing operations, which saves $1,155,000 from the original budget of $112,578. The actual current assets is lower than the original budget 2016, which variance at $3.3 million that resulted the in 32% decrease in current asset budget. Another evident to determine the financial situation of the event is the current liabilities that include accrued employee benefits, payables and other current liabilities. Hence, the financial situation of the event received a variance of $3,881,000 between the original budget and actual budget stated. Therefore, there is a decrease of 37% of budget that totals up the current liabilities to $6,487,000. 

The total equity is lower than the original budget for the event, as the variance percentage of the budget shows 30% difference, at $664,000 from $2,209,000 to $1,545,000. Thus, a lower equity multiplier indicates a company has lower financial leverage. It is better to have a low equity multiplier, because a company uses less debt to finance its assets. 

The events actual budget on cash flows from operating activities, $112,583,000 gain an increase from the original budget, $112,170,000. As The level of cash flow is not necessarily a good measure of performance, and vice versa: high levels of cash flow do not necessarily mean high or even any profit; and high levels of profit do not automatically translate into high or even positive cash flow. The increased of cash flow can be influenced by selling goods or services, selling asset, reducing cost and increasing selling price.]]> 2016-11-17 02:48:57 UTC https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138296657 https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138299280 2016-11-17 03:22:24 UTC https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138299280 Singapore Tourism Board (Anel, Aldhita, Sherman, Kevin) https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138299642 1) The report talks about who Singapore Tourism Board are, FY 14/15 Highlights, Awards and Accolades, Corporate Governance, and Financial Statements. 

2) The Singapore Tourism Board (STB) is a statutory board under the Ministry of Trade and Industry of Singapore. It champions the development of Singapore’s tourism sector, one of the country’s key service sectors and economic pillars, and undertakes the marketing and promotion of Singapore as a tourist destination.

STB strives to ensure that tourism remains an important and vibrant economic pillar through long-term strategic planning, and by forging partnerships, driving innovation and promoting excellence in the tourism sector. It markets Singapore’s multi-faceted appeal as a premier business, leisure, healthcare and education destination, and promotes empowering and customised experiences through the “YourSingapore” destination brand.

3) Tourism Receipts (TR) held steady at S$23.6 billion, while International Visitor Arrivals (IVA) came in at 15.1 million, a 3.1% year-on-year decline. Visitors in 2014 stayed longer and spent more on average, with Average Length of Stay in 2014 rising year-on-year from 3.5 to 3.7 days. The strongest growth was seen in Sightseeing, Entertainment & Gaming (SEG). However, the shopping component declined 10% year-on-year, due to lower arrivals from China and lower per capita spend by Indonesians. 

Indonesia, China, India, Australia and Japan were Singapore’s top five markets in 2014, accounting for over 49% of the overall TR generated in 2014, excluding Sightseeing, Entertainment & Gaming (SEG). Indonesia was our number one market in 2014, with S$2,948 million in TR, excluding SEG. South Korea recorded the highest year-on-year growth of 26% on the back of strong arrivals and steady expenditure across all components from both leisure and business travel segments. China saw the largest year-on-year decline of 12%, due primarily to a large drop in visitor arrivals. However, per capita expenditure of visitors from China increased across major TR components (shopping, accommodation and F&B), due to a longer length of stay.

4) The report states that Singapore Tourism Board recorded total current assets of $378,341,000 and total current liabilities of $85,411,000 in 2015. However, based on the financial highlights of the report, we can state that the company was not profitable with total comprehensive loss of $13,962,000 for the year compared to the $11,917,000 total comprehensive income in 2014.

5) Chew Choon Seng, the Chairman of STB stated  they will continue to focus on three key areas: deepening innovation to create distinctive and compelling tourism products, enhancing efforts to improve productivity, capabilities and performance standards, and, creating impactful marketing initiatives to target visitors. 
However, Lionel Yeo as the Chief Executive of STB looked forward to Singapore’s tourism landscape that would also be further enhanced with the opening of Singapore Pinacothèque de Paris, the first international outpost of France’s largest private museum, the National Gallery Singapore, Kidzania and the Intra-Island Cableway on Sentosa. Other than that, he was also excited about Singapore: Inside Out, a project that STB was spearheading as part of SG50 celebrations to feature Singapore’s contemporary creative talents. It would travel to Beijing (April), London (June) and New York (September) before coming home to Singapore in November 2015. 


]]> 2016-11-17 03:27:25 UTC https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138299642 Australian Grand Prix CorporationAGPC (Amanda, Vinny, Koshin) https://padlet.com/philip_cheekeat_gan/evm60104_financial/wish/138301056 Australian Grand Prix Corporation AGPC

1. What was the report?
The organization’s 2015 annual report which compromises of financial reports such as comprehensive operating statements, balance sheet and etc

2. Background of the organisation/event 
The Australian Grand Prix Corporation is a statutory authority established pursuant to the Australian Grands Prix Act 1994. The Corporation is subject to the direction and control of the Minister administering the AGP Act, the Minister for Tourism and Major Events.

3. Summary of important details in the report

  • Strong sales in the corporate hospitality and sponsorship sectors drove revenue growth for the Corporation, operating in a very crowded event space during February and March of 2015, resulting in a 4% increase year on year in total revenue. The expenditure relating to the event increased over the previous year, due to contracted commitments.
  • Formula One Grand Prix earn more as compared to Motorcycle Grand Prix for 2 consecutive years. However, in the statement above, it shows that their income did not cover the expenses of the event. 
  • Total assets is higher than total liabilities. The deferred income is included as part of the liabilities as it is the revenue for future events.

4. In your opinion, how did the organisation fare in terms of their financial health? Were they profiting or making losses? 

One of the organization’s main product which is Grand Prix has higher expenditure than the revenue. In our opinion, the financial health of Grand Prix is not healthy as the main products should be generating the main income and revenue to the organization.
However, for the organization as a whole, it is not making losses as it has also other comprehensive income which includes cash flow hedge reserves. Hence the comprehensive result for the year 2015 is RM 44,721. 

5. what were their recommendations or predictions on future prospects and challenges (if any) mentioned in the report. 
They did not project any recommendations or predictions, as they have strategies planned out for all projects. 
Goals and objectives for all/future ventures:
  • Promote Melbourne and Victoria through the events
  • Maximise revenues and minimise costs
  • Deliver events safely and to the highest standards
  • Increase attendances at the events
  • Provide an exceptional event experience
  • Build positive event brand perceptions
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