Question

For this task you must research each of the following topics, and write a report on your findings. Use the following questions as a guide to your research.

Explain at least one budgeting process used by your organisation?

(related to Manage operational plan in hospitality)

Answer 1

Budgeting process used by your organisation

The organization uses Capex budgets and operating budgets. The normal operating budget has provisions of covering operational expenses. These budgets include normal expenses are recurring like salaries or wages.

Capex method of budgeting include planning for long terms based on business goals. It lists down the priorities of the business in future. It is done on large scale and is relevant for the coming years based on techniques like incremental budgeting.