67151 - Reporting Budget and Business Plan

Course Unit Page

Academic Year 2020/2021

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 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


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

Teaching tools

Dedicated slides and presentations will be distributed during the course

Office hours

See the website of Daniele Demartini