Refining Budgets, Budgetary Control

REFINING BUDGET

If the actual operating figures and budgeted figures are distant from each other, then this suggests a refining or revision of our budget.

  • revision of room demand
  • estimated room revenue
  • rooms direct expenses

Departmental budget plans are commonly supported by detailed information gathered in the budget preparation process and recorded. These documents should be saved to provide an explanation of the reasoning behind the decisions made while making departmental budget plans. Such records also help to solve issues that arise during the budget review. The documents may also provide valuable assistance in the preparation of future budget plans.

Budgetary Control

Budgetary control, as the term suggests ,is the financial control through the proper implementation of budget , which means fixing responsibilities among the concerned managers for any deviations that may result between budgeted and actual results. It is a control technique because it provides a standard for evaluation of actual performance . Any deviation must be promptly brought to the notice and corrective actions must be taken on time.

Budgetary control
Budgetary control

Advantages of Budget and Budgetary control

1. It estimates uncertainty
2. It is the result of various brains .
3. It is good incentives to workers .
4. It helps in optimum use of resources .
5. It helps in effective co-ordination .
6. It helps in fixing responsibility .
7. It helps in spotlighting the deviations .
8. It helps in optimum use of Men , Material and Money.
9. ,it serves as a beacon light.

channel link

Amit Kumar
Amit Kumarhttp:////hmhelp.in
Hii! Welcome to My digital home, I am Amit – an almost no-code generalist, helping businesses with their online presence using WordPress and other tools and simplifying some of their operations with ideas and automation. A psychology and philosophy geek by interest and a graduate in Hospitality Management. I founded hmhelp during college, which got me into WordPress. I am a highly motivated and results-oriented professional with a proven track record of success in the hospitality industry. I’m also a Digital Marketing Enthusiast with significant academic and practical experience managing digital content across multiple platforms. Skilled at SEO optimization, developing digital content for social media platforms, I offer extensive knowledge of multiple software programs, strong attention to detail, and extraordinary communication skills. If you are interested in talking about any of the topics I have mentioned on my website, you are in the right place. You can contact me or learn more about what I do. You can also connect with me on social networks.

Latest Articles

ENERGY AND WATER CONSERVATION IN HOUSEKEEPING OPERATIONS

Energy conservation measures for Hotel Industry DO’S AND DONT’S FOOD &...

Organization of Banquet Department

Banquet organization structure             ...

Types of Meringues

There are three types of meringue; their differences lie...

Additives and preservatives used in Ice-cream manufacture

 As ice creams move down the scale from premium,...

Ice Sculptures

Ice Sculptures The Ice sculpture is the highlight of any...

Function of menu

Menu is a very important tool for the operation...

Related Articles

ENERGY AND WATER CONSERVATION IN HOUSEKEEPING OPERATIONS

Energy conservation measures for Hotel Industry DO’S AND DONT’S FOOD & BEVERAGE DEPARTMENT This department consumes approximately 25% of the total energy cost so the opportunities to...

Organization of Banquet Department

Banquet organization structure             ...

Types of Meringues

There are three types of meringue; their differences lie in when and how the sugar is added: French Meringue This uncooked meringue is the one most...