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Risk Management: Events are Risky Business 

SmartMeetings

Weighted risk tracking helps manage real contingency requirements We all plan events months in advance, years in advance, or maybe even, days in advance. Because of that not only do our risk management plans need to be well-thought out but so do our finances to cover those risks. Turns out there is.

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Using Account Hierarchy to Organize Finances During the Event Management Process

Attendease

Softrax’s definition of account hierarchy notes that this structure aims to ease financial reporting, analysis, and management. When financial data is organized in a logical and consistent manner, it’s easier for event management teams to understand their financial status for better budget creation and decision-making.

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Using Account Hierarchy to Organize Finances During the Event Management Process

Attendease

Softrax’s definition of account hierarchy notes that this structure aims to ease financial reporting, analysis, and management. When financial data is organized in a logical and consistent manner, it’s easier for event management teams to understand their financial status for better budget creation and decision-making.

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Financial Meeting Planners Face Special Challenges During Crises

SmartMeetings

When the going gets tough, the tough cut costs—at least in the financial and insurance conference sector, where budgets often are more likely to come under the scrutiny of regulators. More : Budget Financial Meetings: Doing More with Less. Risk management is a team challenge and should be approached from every angle.”.

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Budget Financial Meetings: Doing More with Less

SmartMeetings

Meetings in the financial and insurance sector require outside-the-box thinking. The economy was humming along before the coronavirus hit, but even then the majority of meeting planners in the financial and insurance industries were keeping their budgets in neutral. Financial and insurance meetings in the U.S. Content Matters.

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The Difference Between Financial and Management Accounting, and Why Should an Association Leader Know This

StraussCA

Association management has two primary areas of accounting that are highly important: financial and managerial accounting. Read more about the duties of a board of directors and financial management in this article written by my colleague. Association leaders do not have to be experts in financial management.

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Preparation is the Key to Risk Management

Smart Meetings

Risk management is a dedicated preparedness rather than simply a mental exercise, according to Lisa Sommer Devlin, the most recent Smart Meetings webinar host. In her talk, “Risk Management 101,” she outlined strategies for dealing with the risks of the industry, as well as how to actively avoid them.