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67151 - Reporting Budget and Business Plan

Academic Year 2023/2024

                
                        Docente:
                        Daniele Demartini
                    
                        Credits:
                        4
                    
                        SSD:
                        SECS-P/07
                    
                        Language:
                        English
                    
                        Teaching Mode:
                        Traditional lectures
                        
                            Campus:
                            Bologna
                        
                            Corso:
                            Second cycle degree programme (LM) in
                            Innovation and Organization of Culture and the Arts (cod. 0902)

                            Teaching resources on Virtuale
                        
                                    Course Timetable
                                
from Nov 07, 2023 to Nov 30, 2023

Learning outcomes

Student is expected to learn through case studies discussed with professionals in the cultural field how to analyze financial reports, understand budget and prepare business plans for cultural organizations. In particular student is expected to learn: - to understand and use information included in financial report of cultural organizations; - how to prepare and manage a budget for both permanent institutions and specific cultural projects; - what a business plan is and how it can be structured and managed over time for a cultural organizations. Students go through both public administration and not for profit organizations at the local, national and international level.

Course contents

Income Statement
Accounting principles
Profit & Loss structure: revenues, EBITDA and net result
Reporting to shareholders, to thirds and to internal management
Budget and Business Plan set up
Top down and bottom up approaches
Variances analysis, actual, budged and forecast
Product/project set up and pre-calculation
Basic elements of Balance Sheet and Cash Flow
Long term investments: advances and amortization of IP assets
Case studies in recorded music and music publishing business

A basic knowledge of the Excel spreadsheet is essential, the main tool for preparing business plans and income statements. It is suggested that you deepen your knowledge of it and practice its use before starti the course.

Readings/Bibliography

William James Byrnes, Management and the Arts, Focal Press, fifth edition.

Chapter 5 (planning)
Chapter 9 (budgeting)
Chapter 10 (financial management)
Chapter 12 (fundraising & arts)

Harold L. Vogel, Entertainment Industry Economics: A Guide for Financial Analysis, Cambridge University Press, ninth edition.

Chapter 4, 5 (movies and television)
Chapter 6 (music)
Chapter 7 (broadcasting)
Chapter 9 (publishing)
Chapter 13 (arts and culture)

Teaching methods

24 hours of lessons

Assessment methods

written exam with following grading system:

• <18: fail
• 18-23:sufficient
• 24-27: good
• 28-30: very good
• 30 cum laude: excellent

Teaching tools

Dedicated slides and presentations will be distributed during the course

Office hours

See the website of Daniele Demartini