The success of a business is largely dependent on the management of income and expenditure levels. Budgets are used to facilitate this management and should be applied in all types of Hospitality businesses, whether that be a local cafe, a busy restaurant, a Club or an international hotel. Building on the information from previous units, now you will learn to develop and implement a budget, why budgeting is essential and what to do if budgets are not met.
Components in this Module
1 - Introduction
- Introduction
- What is a Budget?
- Benefits of Budgeting
- Budgets for Different Sized Businesses
- Types of Budgets
- Checkpoint 1
- Factors Impacting Budgets
- External Factors
- Reality Check: Using Regional Produce
2 - Researching for a Budget
- Researching for a Budget
- Researching
- Sources of Data
- Checkpoint 2
3 - Preparing a Budget
- Budget Preparation Principles
- Budget Components
- Budget Estimation Techniques
- Reality Check: Delegate Tasks Video
- Software used for Budgeting
- Other Software used for Budgeting
- Preparing a Draft Budget
- Damage Control - The New Player
- Communicating a Draft Budget
4 - Finalising Budget and Allocating Resources
- Analysing Draft Budget Feedback
- Damage Control - Budget Cuts
- Checkpoint 3
- Completing Final Budget
- Communicating the Final Budget
- Communicating Resource Allocations
5 - Monitoring and Reviewing Budget
- Monitoring Budget
- Preparing Accurate Financial Reports
- Completing Reports
- Comparing Actuals to Budgets
- Variance Analysis and Rectification
- Reality Check: Staff Cost Issues Video
- Checkpoint 4
- Maximising Budget Performance
- Damage Control - Staff Holidays
- Damage Control - Poor Accounting Practices
- Reviewing Budget
- Communicating Budget Status and Improvements
- Appendices
- Checkpoint 5
- Congratulations!
Pre-requisite?
No previous knowledge or experience is required.
How long?
The online courses are made up of a number of learning modules. Each module has an estimated time to complete them (click on the ‘i’ next to the module to get the time).
The time to complete a module can vary based on your existing knowledge of the material.
No need to finish the course in one session. You can log in and out as many times as you like, until the course end date. The course end date is shown when entering the training. The system remembers what you have completed and you can continue on from where you left off.
How does it work?
Once we receive confirmation of your payment (which could take up to 24 hours), you will receive an email with your login details. Go to the login page which will be emailed to you. Enter your details then click on the name of the course when you are ready to start.
How do I pay?
Pay with mastercard or visa through our secure PayPal internet payment facility. You can also select to ‘Generate an Invoice’ or ‘Make An Enquiry’ and we will get back to you with a group pricing as a quote or submission for you to respond to.
Who should do this course?
These courses are for anyone who wants to learn more or wants to extend their resume by becoming more knowledgable in their company.
How will I be assessed?
Each module is broken into sections with checkpoints, interactive challenges and quiz questions throughout. You are required to go through each section and answer every question correctly to be deemed competent. If you answer any questions incorrectly, you will be given feedback on which question you answered incorrectly. You can then correct your response and continue.
Will I receive a certificate?
These are non accredited corporate-based short courses and if successful you will receive a Certificate of Completion.
Steps to proceed with enrolling in a Course
Step 1 – Select a Course(s) by adding it to the Shopping Cart.
Step 2 – Pay for the course (using Paypal).
Step 3 – Once we have received the payment we will send you an email confirming your order.
Step 4 – This email will have instructions for connecting to the course, your login ID and password.
Step 5 – Complete the online course.
Step 6 – Once the course has been successfully completed, you will have access to your certificate.
If you have any problems or questions just call us on (02) 9635 0477 or email training@alliedrisk.com.au