Apply a Range of Financial Analysis Techniques and Critically Evaluate - Business Assignment Help

Assignment Task :

About the Task    

All tasks are based on the fundamental, theoretical and conceptional learning in this course.
You will work on an operational variance analysis of actual and budget performance for one event.
The audience for this report if your direct superior you are required to report to. Ensure to explain the reasons for the occurring variances from your event budget and provide recommendations how to address emerging issues in the future.    

Learning Outcomes    
In doing this assignment, students will be expected to:
1. Demonstrate an understanding of accounting and control issues that arise from operations in a hospitality and tourism setting.
2. Use accounting information to interpret and comment on the strategic and financial performance of the hospitality and tourism organisations.
3. Successfully apply a range of financial analysis techniques and critically evaluate competing results to make appropriate management decisions to support an effective and efficient operations performance issues.    

Clearly identify: 1. Case & Hotel & 2. Event Choice
1. Sales Revenues:
i. Provide a two-level analysis for the events sales revenues. This analysis includes the calculations of the master budget variance, price variance and sales volume variance. [Provide a copy of your excel results-table in your report.]
ii. Identify and explain potential reasons for the sales price and sales volume variance [Level 2 Analysis].

2. Direct Material Costs:
i. Provide a three-level analysis for the direct materials, the main ingredients for the Beverage and Food. This analysis includes the calculations of the master budget, flexible budget, inbetweener, master budget variance, the flexible budget variance, sales volume variance, the direct material price variance and efficiency variance. [Provide a copy of your excel results-table in your report.]
ii. Identify and explain quantitative and potential qualitative reasons for the direct material cost variance and efficiency variances (3rd level of the analysis).
iii. Reflect on recommendations how to address the variances, identified (2ii) by providing control measures to prevent these variances to occur. You need to discuss all favourable and unfavourable variances.

3. Profitability of Event:
Comment on the profitability of the event
i. Provide the actual and budgeted gross profit margins as well as the proportion of the Food and beverage percentages of total revenue for the actual and budgeted results.
ii. Comment on the change in the profitability of your event and discuss how the variances affected it.
 

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