Essay Title: 

Write the budget report. Here is the information to write a budget report:

April 3, 2016 | Author: | Posted in english literature, literature and language

Budget Report

Introduction

Part of the consultant ‘s report was to determine how Far Horizon specifically its restaurant and bar may be able to improve sales and generate greater revenue . Several ideas were proposed for implementation in to achieve certain goals . These were meant to increase sales lower down labor expenses , and cut down on food and supply expenses

A careful analysis of the cash disbursements and financial operations of Far Horizon was conducted in to determine whether the estimated values coincided with the actual financial results of the company ‘s [banner_entry_middle]

br operations

The results of such analysis will be highlighted in this discussion This discussion will be supplemented by the charts and tables utilized in to arrive at the said findings

Assumptions on Budgeted Revenues

In to understand how the budgeted revenues and expenses were arrived at , the assumptions behind these values must be explained . In the budget statements , it was stated that the estimated revenue for one-year would be 747 ,000 from sales . Such increase in revenue is based on several assumptions . Three key assumptions that are related to such estimate are the following

Ensure That All Liquor Bar Sales Are Recognized

Aggressively Promote Sales Growth

Redesign Restaurant Menu

One problem area identified was that bar sales were poorly monitored This leads to lost sales which bring down the revenue of the restaurant Basically , when bar sales are better monitored , there is less chance that theft or sloppy performance by staff members will occur . This will prevent loss of bar sales greatly . Therefore , with proper monitoring Far Horizon can expect their revenue to increases significantly and reach the budgeted revenue

In the case study conducted , it was pointed out that Far Horizon ‘s promotional strategies have concentrated on the local community However , their efforts may be inadequate in such aspect . If Far Horizon utilizes marketing strategies targeted at increasing sales , they will be able to reach the estimated budget . Also , when more marketing strategies are utilized , Far Horizon will be able to attract a greater customer base . It will be able to expand its reach beyond the local market and tap the tourist market that frequents the area

Lastly , redesigning the menu will make the food selection more appealing . This would mean that more customers will patronize the restaurant which will greatly improve sales

Assumptions on Budgeted Expenses

Several significant reductions were made in the budgeted expenses Particularly , estimated reductions in expenses were in the areas of labor , food and supply costs , as well as administrative expenses . Such reductions are the results of certain assumptions and recommendations Three primary assumptions are the following

Reduce Hourly Worker Idle Time

Decrease Food and Supply Waste

Redesign Restaurant Menu

It was pointed out that the staff of the Wind Watcher Restaurant had too much idle time . This means that they are not maximized and a certain portion of the labor expense goes to waste . When hourly worker idle time is reduced , labor costs are bound to decrease since… [banner_entry_footer]

Author:

This author has published 9453 articles so far. More info about the author is coming soon.
Did you like this essay sample?

You must be logged in to post a comment.