Budgetary Control and Variance Analysis in the Hospitality Industry

Finance in hospitality industry
1

Table of Contents
Introduction......................................................................................................................................3
Part C...............................................................................................................................................4
3.3 discuss the process and purpose of budgetary control...........................................................4
3.4 Analyse variances from budgeted and actual figures, offering suggestions for appropriate
future management action............................................................................................................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
2

Introduction
Finance is the basic requirement of all the businesses and in this report, the manner in which it
can be controlled will be discussed with the help of budgets. For this, the process involved in this
will be discussed. Then the variance analysis will be performed in which all the variances which
are present among the actuals and budgeted figures will be identified and then the conclusion
will be drawn on the basis of that.
3