What will be required for your new budget to operation

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Reference no: EM132886163

BSBFIM601 Manage finances

Assessment 3 - Project 2

Task 1

Your Tasks:
A. Go to the Spreadsheet Activity 2 Support Material from assessment 2.
Collate the totals for the actual 2018/2019 and the draft budget 2019/2020 in the tab "comparison".

Answer the following questions by analysing your results from the Excel sheet review all departments to manage your budget give your view on what will be required and complete a report on this .

1. How do the figures compare overall?

2. Which areas would need to be investigated and adjusted within your budget?

B. Go to the tab "Draft Budget", create a copy and move this copy to the end. Rename and label this copy "Future Potential" and manipulate the scenario below:

Due to renovations for your 2019/2020 budget as outlined in Task 2, the number of available rooms had been limited to 75%.
Answer the following question by analysing your results from the Excel sheet.

1. How will your budget for 2020/2021 be affected once the number of available rooms will be 100% and the occupancy rate will increase to 80% and the average room rate increases to $180.00 per room and "Other Expenses" increases to 25%?

Task 2

Your Tasks:

Answer the following questions by analysing your results from the Excel sheet.
1. Given the suggested changes in the operation for the 2019/2020, discuss which departments you will need to liaise with in terms of financial and HR impacts. Which details will you need to discuss for a successful implementation of the budget and what changes and adjustments may need to be applied to keep things on track?

2. Which factors need to be considered when the hotel reaches full accommodation capacity based on the future forecast for 2020/2021? What adjustments will be required for your operation review all departments and give suggestions and your views on what will be required for your new budget to operation correctly

3. Given the modernization of the operation, the director in conjunction with the F&B director have approached you to prepare for the purchase and implementation of a new stock control system linked to a POS to enhance security provisions and prevent theft and to assist in stock control .

Research a suitable system and compare two such systems.

Provide details for the features and a cost estimate including ongoing costs for maintenance or subscription and recommend one of the systems. Attach all information you have researched to this assessment.

Attachment:- Spreadsheet Activity Assessment.rar

Reference no: EM132886163

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