Preparing and Monitor Budget Tool for an Organisation
Added on 2020-10-23
13 Pages3562 Words218 Views
PREPARE AND MONITORBUDGET
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................3TASK 3............................................................................................................................................5Scenario 1:...................................................................................................................................5Scenario 2....................................................................................................................................6Scenario 3....................................................................................................................................7CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONIn any organisation to achieve desired success and its objectives, there is a need ofimplementing some analytical tools. One of them is budget tool which is very useful for anyorganisation. By preparing various budgets and compare them with actuals figures, a companycan identify the areas where it need to give time to remove the negative variances(Thangavelautham, 2018). This report is divided into three task and each task is having differentscenario. First task and second task describes about the making budgets of restaurant & barcompany by taking different divisions revenues while in third task different issues are addressedin different scenarios. TASK 1Budget ForecastTotal Revenue2016$1,12,13,138.73 $1,30,40,730.97 Forecasted 2017Room BudgetForecast$Forecast%Expenses AnalysisRoomsAvailable63875100%6132096%COGS$11,03,760.00 15%RoomsOccupied5154849056Staffcosts$14,71,680.00 20%Total Occupancy%80.7080.70%80%80%OtherExpenses$5,88,672.00 8%Revenue PerAvailable Room$134.80 $150.00 111%TotalExpenses$31,64,112.00 Total RoomRevenue$69,48,897.21 $73,58,400.00 105.89Total CateringRevenue$42,64,241.52 $56,82,330.97 1
Food Budget(Restaurants)Expenses AnalysisTotal Revenue$20,19,370.53 $23,02,728.07 COGS$6,86,443.24 29.81%Food Revenue$17,40,112.81 86.17%$20,01,129.73 115%Staffcosts$10,13,200.35 44%BeverageRevenue$2,79,257.72 13.83%$3,01,598.34 108%OtherExpenses$1,61,190.96 7%TotalExpenses$18,60,834.55 Banquet BudgetExpenses AnalysisTotal Revenue$13,13,940.16 $23,21,539.45 COGS$6,03,600.26 26%Food Revenue$11,30,203.33 86.02%$20,00,000.00 177%Staffcosts$4,41,092.50 19%BeverageRevenue$1,83,736.83 13.98%$3,21,539.45 175%OtherExpenses$3,25,015.52 14%Room ServiceBudgetExpenses AnalysisTotal Revenue$4,17,442.15 $4,67,811.65 COGS$1,18,075.66 25.24%Food Revenue$3,35,796.64 80.44%$3,86,166.14 115%Staffcosts$1,59,055.96 34%BeverageRevenue$34,668.69 8.31%$34,668.69 100%OtherExpenses$26,057.11 5.57%Other Revenue$46,976.82 11.25%$46,976.82 100%Mini Bar BudgetExpenses AnalysisTotal Revenue$1,46,47$1,46,47COGS$35,782.824.42
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