Thursday, March 26, 2015
Entertainment Business Finance
I am currently wrapping up my masters course in entertainment business finance. I believe it took me twice as long as anyone else to work through the course work because I had to read, and reread the material and research and re-research because I refuse to fail, even though I am very conscience I am not enjoying this. It has been an eye opening course and I have come away with two themes, which I was well aware of before.
One; you are not required in this life to be good at everything. I am not good with money. I am an impulse spender. I don't really look toward the future when it comes to saving and investing because the future is not promised. “No day but today” right? I’m not completely irresponsible, don’t get me wrong, but I am committed to living to be happy, and not buying those awesome jeans would make me relatively unhappy. That being said, I don’t have to be good at understanding finance, investment, stocks, and such because luckily there are people out there who ARE good at this stuff. I will seek these people out and hire them so my company can be successful.
Two; I will hire an accountant as our company grows. There are ridiculous amounts of reasons why hiring a CPA is a good idea; changing tax laws, finding ways to invest, income statements, annual reports. Basically it’s a great idea. Probably the best idea to grow the company. Just writing all of that out makes my palms sweat and my blood pressure rise.
I do respect the need for this course though in the end, and totally enjoyed the case studies because they are actual representation of our industry; the industry my husband and I own our company in and live and breath daily. The case studies really helped me to see the need to create a financial plan for the future of our company. Now, while I don’t want to make this plan myself, I'd rather go to the dentist; I am glad that I will understand while I have the accountant work through it for us.
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