Finance Report for the Launch Party
Coursework Assessment Brief
Assessment Details
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Module Title: |
Introduction to organisations and finance |
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Module Code: |
QHO435 |
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Module Leader: |
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Level: |
4 |
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Assessment Title: |
Finance report |
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Assessment Number: |
AE1 |
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Assessment Type: |
Report |
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Restrictions on Time/Word Count: |
2000 +/- 10% |
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Consequence of not meeting time/word count limit: |
There is no penalty for submitting below the word/count limit, but students should be aware that there is a risk they may not maximise their potential mark. Assignments should be presented appropriately in line with the restrictions stated above; if an assignment exceeds the time/word count this will be taken in account in the marks given using the assessment criteria shown. |
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Individual/Group: |
Individual |
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Assessment Weighting: |
100% |
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Issue Date: |
Week 1 |
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Hand In Date: |
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Planned Feedback Date: |
4 weeks after submission date |
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Mode of Submission: |
On-line |
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Number of copies to be submitted: |
One |
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Anonymous Marking |
This assessment will be marked anonymously |
Assessment Task
You will produce an individual, business case report justifying your approach to organising the resourcing and finances of a celebratory event. Using theory and models learnt throughout the module you will demonstrate your understanding of how to effectively plan and manage teams and finances.
Assessment criteria
You have been asked to consider how the company could deliver a launch party with the aim of attracting 100 guests. Your predicted attendance is 100 guests, which you will use to calculate the cost report and the cash flow report.
Furthermore, you will also be expected to identify how you will manage the staff on the night to ensure the event runs smoothly.
You will need to identify all potential costs involved under the headings of; entertainment, venue hire, decoration, food, staffing, stationary, transport.
As part of the financial element of the report you are asked to present the following reports:
- A cost report identifying fixed and variable costs based on 100 attendees.
- A cash flow forecast to identify how the cost and income pattern will be distributed over a 4-month period based on 100 attendees (using the data from the previous report).
Actual figures can be researched using a variety of sources such as the internet. Where actual figures are not provided estimations can be used. Credit will be given to reports reflecting the effort made in obtaining realistic information.
Regarding the staff management you will identify process and suggestions to ensure the staff are organised, motivated and rewarded to ensure a happy, knowledgeable team to deliver an efficient event.
You will need to summarise the report with a set of recommendations for the Management Committee to consider.
For each of the elements you must provide academic justification for your reasoning. These arguments should be fully referenced using academic books and journals.
See the associated guidance notes for further clarity on report format and content.
Learning Outcomes
This assessment will enable students to demonstrate in full or in part the learning outcomes identified in the Module descriptors.
Late Submissions
Students are reminded that:
- If this assessment is submitted late i.e. within 5 working days of the submission deadline, the mark will be capped at 40% if a pass mark is achieved;
- If this assessment is submitted later than 5 working days after the submission deadline, the work will be regarded as a non-submission and will be awarded a zero;
- If this assessment is being submitted as a referred piece of work then it must be submitted by the deadline date; any Refer assessment submitted late will be regarded as a non-submission and will be awarded a zero.
Extenuating Circumstances
The University’s Extenuating Circumstances procedure is in place if there are genuine circumstances that may prevent a student submitting an assessment. If students are not `fit to study’, they can either request an extension to the submission deadline of 5 working days or they can request to submit the assessment at the next opportunity (Defer). In both instances students must submit an EC application with relevant evidence. If accepted by the EC Panel there will be no academic penalty for late submission or non-submission dependent on what is requested. Students are reminded that EC covers only short term issues (20 working days) and that if they experience longer term matters that impact on learning then they must contact the Student Hub for advice.
Please find a link to the EC policy below:
Academic Misconduct
Any submission must be students’ own work and, where facts or ideas have been used from other sources, these sources must be appropriately referenced. The University’s Academic Handbook includes the definitions of all practices that will be deemed to constitute academic misconduct. Students should check this link before submitting their work.
Procedures relating to student academic misconduct are given below:
Ethics Policy
The work being carried out by students must be in compliance with the Ethics Policy. Where there is an ethical issue, as specified within the Ethics Policy, then students will need an ethics release or an ethical approval prior to the start of the project.
The Ethics Policy is contained within Section 2S of the Academic Handbook:
Grade marking
The University uses a letter grade scale for the marking of assessments. Unless students have been specifically informed otherwise their marked assignment will be awarded a letter grade. More detailed information on grade marking and the grade scale can be found on the portal and in the Student Handbook.
Guidance for online submission through Solent Online Learning (SOL)
http://learn.solent.ac.uk/onlinesubmission
Sample Answer
Finance Report for the Launch Party
Introduction
This report presents a detailed financial and organisational plan for a launch party designed to attract one hundred guests. The purpose of the report is to demonstrate how the company can effectively plan, finance, and manage such an event while ensuring smooth operations on the night. The analysis focuses on identifying all relevant costs, preparing a cost report that distinguishes between fixed and variable expenses, and producing a four-month cash flow forecast. The report also considers the management of staff to ensure that the event runs efficiently and that the team is well organised, motivated, and rewarded. Each part of the discussion draws upon relevant academic theory and models in finance and organisational management to justify decisions and provide a sound business case. The final section provides recommendations for the Management Committee to consider before proceeding with the event.
Planning the Launch Party Event
The event is designed to welcome and entertain a guest list of one hundred attendees. This number provides a realistic target that is neither too small to create atmosphere nor too large to become financially unmanageable. Planning requires a structured approach that integrates financial preparation with operational organisation. Academic research on project management highlights the importance of defining clear objectives and aligning resources with these objectives (Kerzner, 2017).
In practical terms, the party must include venue hire, decoration, food and beverages, entertainment, staffing, stationery and marketing materials, and transport arrangements. Each of these elements involves financial costs that must be estimated, categorised, and justified. The event must also remain financially viable, so the balance between costs and potential revenue must be carefully monitored.
Identification of Costs
Venue Hire
The venue represents a major fixed cost for the event. A mid-range hotel function room or dedicated event hall is suitable for one hundred guests. Based on average UK market prices, a suitable venue in a city location costs approximately £1,500 for a full evening, including basic facilities such as tables, chairs, and standard lighting. Venue selection must also consider accessibility, parking, and ambience, as these factors influence guest satisfaction.
Entertainment
Entertainment is essential for creating atmosphere. A live band or professional DJ would provide high energy and keep guests engaged. Industry data suggests that hiring a DJ for an evening costs around £500, while a live band ranges from £800 to £1,200. For this report, a DJ is chosen as a cost-effective option that still delivers professional quality.
Decoration
Decoration creates the desired ambience and sets the tone of the launch. Costs include table centrepieces, floral arrangements, stage backdrops, and lighting enhancements. Average costs for event decoration suitable for one hundred guests are estimated at £600. These costs are largely fixed, regardless of the exact number of attendees, since decorations are purchased for the venue as a whole.
Food and Beverages
Food and drinks represent the largest variable cost because they depend directly on the number of guests. Catering prices in the UK for a buffet with drinks typically range from £25 to £40 per person. For one hundred guests, a mid-point of £30 per person is assumed, creating a total catering cost of £3,000. Drinks packages may be negotiated, but provision must be generous to ensure guest satisfaction.
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