Reference no: EM132936468

Question - Provide information in relation to the following types of financial reports commonly used in the hospitality & events industry financial monitoring process.

Profit & Loss Statement

1. Define a format for the type of report that is suitable for use in the hospitality context (Content):

2. Indicate a suitable reporting cycle for this type of report:

3. List common reasons for deviations identified through review of these financial reports:

4. Explain budget management practices implemented to action identified budget deviations:

Wage Cost Report

1. Define a format for the type of report that is suitable for use in the hospitality context (Content):

2. Indicate a suitable reporting cycle for this type of report:

3. List common reasons for deviations identified through review of these financial reports:

4. Explain budget management practices implemented to action identified budget deviations: