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    Classification of Budgets: Master Budget

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    Jha Sàñkát
    The document classifies budgets into operating/revenue budgets and capital budgets. It then provides details on operating budgets including various revenue line items like rooms, food, beverages, and expenses like food costs, payroll, and other departmental expenses. It establishes a budget committee composed of senior executives to implement budgetary control through functions like deciding the budgetary control system, authority levels, coordinating budget preparation, approving department budgets, and monitoring performance.

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    Classification of Budgets: Master Budget

    Uploaded by

    Jha Sàñkát
    18 views1 page
    The document classifies budgets into operating/revenue budgets and capital budgets. It then provides details on operating budgets including various revenue line items like rooms, food, beverages, and expenses like food costs, payroll, and other departmental expenses. It establishes a budget committee composed of senior executives to implement budgetary control through functions like deciding the budgetary control system, authority levels, coordinating budget preparation, approving department budgets, and monitoring performance.

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    Original Title

    BUDGETS....

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    The document classifies budgets into operating/revenue budgets and capital budgets. It then provides details on operating budgets including various revenue line items like rooms, food, beverages, and expenses like food costs, payroll, and other departmental expenses. It establishes a budget committee composed of senior executives to implement budgetary control through functions like deciding the budgetary control system, authority levels, coordinating budget preparation, approving department budgets, and monitoring performance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    18 views1 page

    Classification of Budgets: Master Budget

    Uploaded by

    Jha Sàñkát
    The document classifies budgets into operating/revenue budgets and capital budgets. It then provides details on operating budgets including various revenue line items like rooms, food, beverages, and expenses like food costs, payroll, and other departmental expenses. It establishes a budget committee composed of senior executives to implement budgetary control through functions like deciding the budgetary control system, authority levels, coordinating budget preparation, approving department budgets, and monitoring performance.

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    of 1

    CLASSIFICATION OF BUDGETS

    BUDGETS

    Operating Budgets Capital Budgets


    (Revenue Budgets)

    Capital Expenditure

    Sales Revenue
    Rooms Stock Debtors
    Foods
    Beverages Cash
    MODS

    Cost of Sales
    Food Cost

    Payroll
    Other Departmental Expenses
    (Guest supplies, etc.)
    Undistributed Expenses
    (Energy costs, etc.)

    Budgeted Profit Statement Budgeted Balance Sheet

    MASTER BUDGET
    MASTER BUDGET

    Budget Programme: The main responsibility of administration of budget programme is delegated to an


    executive known as Budget Officer. The annual budget programme is organized and administrated through a
    budget committee.

    Budget Committee: A Budget Committee is constituted for the purpose of implementing the budgetary
    control. The committee is composed of the senior executives of the business, such as :-
    1. MD/ Chairman/ GM,
    2. Food & Beverage Controller,
    3. Food & Beverage Manager,
    4. The Executive Chef,
    5. The Executive Housekeeper,
    6. The Banquet manager,
    7. The Chief Accountant and
    8. The Controller – Secretary.

    The functions of the committee are:


    1. To decide about the system of Budgetary Control suitable for the hotel.
    2. To decide the authority and responsibility of each executive.
    3. To coordinate the efforts of all those engaged in the preparation of budgets.
    4. To receive and approve budgets submitted by departmental heads.
    5. To prepare budget proposal in draft form/ report for submission to board of governors/ directors.
    6. To collect data on actual costs to compare with the budget.
    7. To feedback information concerning significant deviations from the budget.
    8. To keep constant reviewing of standard procedure of budgetary control.
    9. To monitor the operation of budgetary system and submission of periodic reports and
    10. At year ending, review performance and use results as a guide to formulating policy for next year.

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