Analyses Business Information Report Writing - Finance Assignment Help

Assignment Task

Task

Manager for Redbrick Resort is responsible for managing the food and beverage operations including front and back of house operations. The resort trades twenty-four (24) hours a day, has banqueting facilities for 1000 people, twenty-four (24) hour room service, three restaurants, two cafes, two bars, a
nightclub and two poolside snack bars.
This week the F&B Manager has arranged a budget meeting with the front of house and back of house management team from Tree Top Restaurant and Bar to review the January-March quarter results and consult with the team regarding updating the budget forecast for the April-June quarter.

Using the above scenario,complete the following tasks:

Task 1: This activity forms a simulated role-play of a budgetary meeting

• Role player 1# One student is to assume the role of Food and Beverage Manager
• Role player 2# One student to assume the role of Restaurant Manager
• Role player 3# One student to assume the role of Head Chef.

Hold a meeting to review and discuss the following budget updates for April, May, and June:

• Review the January-March quarter results.
• Copy of your report on  proposed budget changes and reason supporting the changes.
• Revised excel budget.
• Approval for changes from General Manager.
• Copy of your notes from  budget meeting/s.
• Copy of official minutes  from F&B Budget meeting/s.
• Summary explaining the process that will be set in place for monitoring the updated budget to ensure profitability is maintained.

Performance objective:
You are required to demonstrate your ability to draft a series of budgets, negotiate the final outcomes with senior colleagues, seek approval from management, review a profit and loss statement, manage the delivery to ensure successful budgetary performance, including identifying and reporting on any deviations.

Assessment description:
You are required to analyse financial and other business information needed to prepare and monitor a series of budgets,including forecasted sales, a workforce budget, an operating budget, review.

• March had poor revenue results for bar sales due to a breakdown of the two bar refrigeration units which resulted in delays to serving drinks as all beverages were required to come from banquets, which had an adverse effect on the overall profit for the month. Replacement costs for the refrigeration units was $17,000 which is to be added to operational expenses in the next quarter as a general operational expense (equipment) item to be fully expensed in the June quarter.
• Review your department's rosters and update the staffing levels as required to meet business demands.
• Budgeted beverage cost is 23.80% currently you are well over budget, you need to make the necessary changes to bring the beverage cost in line with budget.

Food Covers April

• Breakfast 200 per day with average check increasing to $21.50
• Lunch 150 per day with average check increasing to $25.00
• Dinner145 per day with average check increasing to $40.50
• Beverage Covers April
• Breakfast 150 per day with average check increasing to $8.90
• Lunch 130 per day with average check increasing to $14.00
• Dinner120 per day with average check increasing to $24.00

May & June

• Food covers and beverage covers are expected to increase for the months of May and June, with an extensive marketing campaign expected to increase customer numbers.

Food covers May & June

• Breakfast covers increasing to 160 for May and 150 for June with an average check of $20.00 for both motaiLlas

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