Managing Finance & HR for Sustainable Business Success

Managing Finance & HR for
Sustainable Business Success

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
a.) Analysing the objectives of preparing budget........................................................................1
b.) Preparing and analysing the revenue and spending variance of the company.......................2
c.) Determining the various activity of variance which are of major concern to the
management................................................................................................................................3
d.) Advising the Twin River Cafe to support the objectives of the company.............................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Managing finance is considered to be one of the effective process which in turn helps in
managing the expenditures of the company. Managing human resource within the company helps
in carrying out all the task of the company with utmost accuracy (Vance and Paik, 2015). This in
turn helps in carrying out operations of the business which in turn leads to higher sustainable
growth and success.
MAIN BODY
a.) Analysing the objectives of preparing budget.
Budget is referred to as an effective financial plan which in turn mainly focuses on
determining the future cash flows, income and expenditure of the company (Mayo, 2016).
Budgeting is referred to as an internal tool which in turn helps in effectively enhancing the
success of the particular enterprise.
Objectives of preparing budget: Provides effective structure: Budgeting is considered to be useful because it helps in
guiding company to perform particular set of activities in an appropriate direction. Allocation of resources: Budgeting is an effective tool as it helps in allocating funds to
carry out specific task or activity within the business (Budgeting: Meaning, Purpose,
Process and Principles, 2019). Predicting the cash flows: Budgeting is useful in effectively determining and predicting
the cash flows of the company (John, 2018). It helps in determining how much cash will
be required to attain reasonable budgeting objective. Measures performance: Budgeting helps in measuring the performance of the company
where the management of the company tends to create a budget plan which is considered
to be as the basis to judge the performance of the employees. Anticipates financial condition: Budgeting helps in anticipating the future financial
condition and funds of the company. This in turn helps in keeping the company solvent
and helps in effectively managing the finances of the business. Anticipates future sale: Budgeting helps in prognosticate the production cost, future sales
and various other expenses of the company (Wildavsky, 2017). This helps in minimizing
the possibility of the losses within the business operations.
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