Everything you need to know to advance your music business accounting expertise
Presented in association with Colour Accounting
Hot of the back of our Finance 101 event the third AIM Academy event of 2018 is an all-day masterclass at the Tileyard Studios on the 27th March.
Essential for not only labels and self-releasing artists, but also for anyone wishing to develop an advanced knowledge of music business accounting. There are only 13 spaces so don’t miss out!
This exclusive event is designed to equip attendees with an understanding of the fundamentals of accounting, how to think commercially, and how the processes work in the music business, including advance deals, royalty processing and recoupment.
Over the course of the day you will improve your ability to understand the structure of financial information and be empowered to make strong financial decisions. Testimonials from music companies that have attended previous Colour Accounting events are included below.
AIM Members can attend the event on 27th March for the exclusive rate of £300+VAT (£360) and non-members for £400+VAT (£480), which includes lunch and refreshments. Trade body discounts at £350+VAT (£420) are available.
What is Colour Accounting?
Colour Accounting is a uniquely effective Introduction to Accounting and Finance course. It’s unique because they have a visual, colour based framework that makes accounting interactive and engaging, and it’s effective because this framework enables them to explain the structure, language and mechanics of finance in a holistic way. They know that language is one of the main barriers to understanding finance, so they focus as much on understanding financial terminology as they do on actual accounting. This course will specifically focus on accounting and business issues directly relevant to the music business, and include an end to end accounting example from singing an artist through to launching their music.
What are the key benefits?
You will develop a real financial literacy in just one day. By first putting in place the fundamentals of how accounting works, you will develop a deeper understanding of how the music business works. You will be empowered to engage in financial discussions with much more confidence, whether internally in finance meetings or externally with managers and customers, and you will be able to make better financial judgements and business decisions. One recent testimonial was “This is the best accounting course I’ve ever done, and I’ve finished an MBA”.
The specific objectives of the course include:
- understand the mechanics of how accounting works, and why it matters to your business
- understand the structure of financial information
- build fluency in the language of finance
- increase your confidence in discussing financial matters with colleagues and your external contacts
- be able to read and analyse financial reports robustly
- understand how the accounting and business processes work in the music business, including advance deals, royalty processing and recoupment
- improve your ability to think commercially and understand how transactions impact both profits and cash
The programme runs from 10am – 6pm with three key sessions:
1 – understand the fundamentals of accounting and finance
2 – practice accounting with our interactive Board game
3 – learn specifically how accounting works in the music business
“Colour Accounting was the most fun I have ever had with numbers. I have always wanted a better understanding of basic business accounting and Colour Accounting provide this and more. The Colour Accounting system of learning makes business accounting immediately tangible and engaging. I now have a more instinctual grasp of what constitutes equity, liabilities and assets and how these items interplay and change in the course of business activity. Colour Accounting has left me better equipped to make the right decisions for our business.”
“I really enjoyed the workshop yesterday, dare I say it, it was even fun!”
Distiller Music Group :
“A great teacher makes all the difference, and Adam certainly was that. Very engaging, encouraging and enthusiastic. A great course that makes everything so much clearer.”
‘Thanks so much for yesterday – we really did have a blast and can’t wait for the next quarterly finance analysis so I can put it all to good use!’
(including lunch and refreshments)
AIM members (sign in): £300 (+ VAT)
Regular ticket price: £400 (+ VAT)
Trade Body Members (discount code) – BPI, FAC, ISM, MMF, MPA, MPG, MU: £350 (plus VAT)
4 people are attending AIM Academy: Music Business Accounting Masterclass in Association with Colour Accounting