Your job in this project is to up set a music event for an events agency. They want you to prepare a costed proposal to present to the review committee. You will need to show a full breakdown of the costs and the expected income from your event and persuade the committee that they will get a good return on their investment.
First we'll decide what the event will be. You'll need to hire a band or two, and arrange a venue and some staff. Then you'll need to advertise. That will all be money going out!
Next, you'll have to estimate your expected income. That will involve finding out how many people your venue can hold. You need to set a ticket price that people will pay. Finally, you can set up a spreadsheet to look at the expected profit (or loss!) according to how many of the tickets you sell.
The issue of Value Added Tax (VAT) is important. Because you are working for a commercial organisation, you will generally work with VAT excluded.
However, certain costs e.g. ticket sales will have to have VAT included, so we'll start by looking at how we deal with this issue.