BSBFIM601 - Draft Budget - Modernization of Operation - Finance Assignment Help

Assignment Task :

Task 1 
Your Tasks: (BSBFIM601 )
A. Go to the Spreadsheet Activity 2 Support Material.  Collate the totals for the actual 2018/2019 and the draft budget 2019/2020 in the tab “comparison”.  
1. How do the figures compare overall? 
2. Which areas would need to be investigated? 
 

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:  
1. How will your budget for 2019/2020 be affected once the number of available rooms will be 100% and the occupancy rate will increase to 84% and the average room rate increases to $185.00 per room and “Other Expenses” increases to 14%? 

Task 2 
Your Tasks: 
1. Given the suggested changes in the operation for the 2018/2019 as set out in Task 2, 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? 
 

2. Which factors need to be considered when the hotel reaches full accommodation capacity based on the future forecast for 2019/2020? 
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. Research a suitable system and provide details for the features and a cost estimate including ongoing costs for maintenance or subscriptions. Attach all the information you have obtained for this assessment. 

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