Scribd
Upload
225 views14 pages

Budget Monitoring and Preparation Part 1

The document outlines the steps needed to prepare a budget for Café Rue as the new manager. It includes determining the scope of the budget by assessing revenue sources, costs, labor needs, and materials. Next, it involves identifying, assessing, and interpreting financial information by analyzing data patterns, quantitative information, and effectively presenting the information. Thirdly, it discusses analyzing internal factors like employees, processes, and external factors outside of the cafe's control that could impact the budget. Finally, it recommends consulting with colleagues to gain insights and share information to cultivate ownership of financial goals.

Uploaded by

YENG KABIGTING
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
225 views14 pages

Budget Monitoring and Preparation Part 1

The document outlines the steps needed to prepare a budget for Café Rue as the new manager. It includes determining the scope of the budget by assessing revenue sources, costs, labor needs, and materials. Next, it involves identifying, assessing, and interpreting financial information by analyzing data patterns, quantitative information, and effectively presenting the information. Thirdly, it discusses analyzing internal factors like employees, processes, and external factors outside of the cafe's control that could impact the budget. Finally, it recommends consulting with colleagues to gain insights and share information to cultivate ownership of financial goals.

Uploaded by

YENG KABIGTING
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 14

NAME: Kabigting, Edie Mae S.

SECTION: BSITM-TTO 4-YA-1

PROJECT A

PART 1

You are the new manager


of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager
of Café Rue; a popular
local café known for its
award-winning
dessert’s that; customers love
to feature on Instagram. Due to
its increased popularity the
owner has asked you to
gather and document
information needed to
prepare a budget
including:
You are the new manager of Café Rue; a popular local café known for its award-winning
dessert’s that customers love to feature on Instagram. Due to its increased popularity the owner
has asked you to gather and document information needed to prepare a budget including:

I. DETERMINING AND CONFIGURING THE SCOPE OF THE BUGET

- A spending plan serves as a useful tool for both planning and monitoring
execution. It is made early for a specific financial period to aid in the
organization's internal planning and distribution of funds. The spending plan is
then used to evaluate performance near the end of the term by comparing actual
figures with those initially planned. Financial plans are incredibly flexible tools.
They can be modified to fit a variety of situations and levels of authority. For
instance, a spending plan might include assessed income for every restaurant and
bar in a hotel, for a single establishment, or for a specific time during the day for
exchange. Numerous components of functional planning, such as determining
income, consumption, capital needs, and labor force levels, rely on information
from previous and current financial plans. It can be useful to know whether a
company can afford to update or offer new products or services. Plans for
finances can include what assessments are needed, where assessments are needed,
and when assessments are expected to cover anticipated interest. They indicate
when extra labor is needed during the busy late spring months or when additional
financial assistance is anticipated to cover off-peak season costs. A financial plan
could be an incredibly effective tool for power management. They are, however,
only compelling if they have been thoroughly thought out and planned before
being put into action. A financial plan outlines the organization's spending
priorities and estimates how much money will be generated. If money is not
effectively distributed, costs are not kept under control, and sufficient income is
not generated, the business will continue to operate and make a profit.

While checking the financial plan, the accompanying determining systems should think about:

- Revenue, Technology, Labor, Raw Materials


II. IDENTIFYING, ASSESSING, AND INTERPRETING INFORMATION

- These are the following outlines to help analyze, interpret and the information
present the data effectively:

1. Keep your point and crowd at the top of the priority list consistently
- To keep you focused on the task, Forster should ask you a series of
questions.
2. Coordinate, sum up and control information
- It is common to use accounting pages, data sets, tables, or charts; this will
help with spotting connections' theme or patterns.
3. Quantitative Data: (Look for patterns)
4. –Analyze reactions by questions, point, time span or occasion.
–Survey case/everyone comprehensive to fabric a profile.
5. Configuration ought to augment clearness and effect
-Use tables, outlines, illustrations, or tests to introduce information.

III. ANALYZING INTERNL AND EXTERNAL FACTORS THAT CAN IMPACT


THE BUDGET.

Internal environment elements are important and elusive viewpoints that are directly
under the control of the association being discussed, as opposed to external natural
elements. Additionally, interior perspectives are divided into two categories: qualities
and shortcomings. Anything that improves the organization's reputation, strategic
vision, bottom line, or other fundamental metrics is viewed as a strength in general. It
is referred to as a shortcoming if it has a negative impact on the company or doesn't
advance it. A useful interior ecological variable would be a showcasing staff with the
skills to deliver, evaluate, and streamline marketing initiatives aimed at attracting new
customers.

An illustration of a negative interior component would be standard working methods:

 Employees
 Internal Process
 Shareholders and owners
 Directors (board director)
 Organization’s brand
 Company Culture and Finance
 Policies, procedures, and plans
 Equipment

The clear and theoretical aspects that are not immediately under the control of an association are
known as external environmental elements. Outside factors are crucial because they have the
potential to quickly thwart your advancement even if all of your internal components are ready.

IV. CONSULTING WITH COLLEGUES


- They might share insights and opinions on asset proficiency, waste management,
suggestions for improving provider execution, technological advancements, and
practical support methods that managers who don't work the floor would never
think of. Their assistance in establishing the destination and goals, including
financial objectives and accountability for their own prosperity, cultivates
representative possession. Share information with them and discuss your financial
goals, as well as how well you think they are doing in achieving them. By linking
financial objectives to execution, you can build on the concept of self-
administration. Encourage people to consider both themselves and the
organization. Learn to concentrate on what you need to say.

You might also like