What assumptions go into preparing a budget for a New York Fashion Week show? Original blog posting (October 4, 2013)

Estimates of the various costs associated with putting on a show during New York Fashion Week: Rent $0 to $100,000 Hair and makeup: $0 to $100,000 Stylist: $5,000 to $20,000 Public relations: $10,000 to $20,000 Models: $0 to $200,000 Lighting: $10,000 and higher Invitations: $5,000 and higher

Requirement 1 Prepare a budget for an imaginary fashion show at New York Fashion Week.  Select an estimate for each cost within the range given.  Justify each estimate by describing the assumptions you are making about your imaginary fashion show.  You can refer to the original article in Business Insider for additional information about the costs. 

Requirement 2 How much is your imaginary show budgeted to cost?  Compare the budgeted cost of your imaginary show to the budgeted cost of another student in the class.  What assumptions differed between you and the other student?

Requirement Recap Prepare a budget for an imaginary fashion show at New York Fashion Week.  Select an estimate for each cost within the range given.  Justify each estimate by describing the assumptions you are making about your imaginary fashion show.  You can refer to the original article in Business Insider for additional information about the costs.  How much is your imaginary show budgeted to cost?  Compare the budgeted cost of your imaginary show to the budgeted cost of another student in the class.  What assumptions differed between you and the other student?

For additional news stories to use in the accounting classroom, see the Accounting in the Headlines blog at http://accountingintheheadlines.com/ Related video resources can be found at http://www.youtube.com/user/accountingheadlines Questions or comments? Contact Dr. Wendy Tietz at wtietz@kent.edu