WHAT IS BUDGET A budget is an estimation

WHAT IS BUDGET? A budget is an estimation of revenue and expenses over a specified future period of time.

BUDGET CONTROL A system of management control in which actual income and spending are compared with planned income and spending, so that you can see if plans are being followed and if those plans need to be changed in order to make a profit

TYPES OF BUDGETERY CONTROLS • Financial Budgets. • Operating Budget. • Non-Monetary Budgets.

1. PREPARING THE BUDGET • TO consider your expected revenues, expenses for employee wages, operations and materials an…d costs for any improvements

2. APPROVAL • Budgets aren't approved on a yes or no basis • These are subject to several debates • view of how your company is spending its funds

3. IMPLEMENTATION • Executing the Budget • Impounding funds • The money gets spent in accordance with the budget

4. REVIEW • It is Evaluating the budget. • Evaluated during the Auditing Period. • Good enough to see where you used your money and where not.

LINE & STAFF ORGANISATION

DUTY ROTA OR DUTY RAOSTER MEANING: A “Rota” is a list which gives details of the order in which different. . . showing the order in which people take their turn to perform certain duties.

TRAINING A STAFF OBJECTIVE: TO DELIVER THE PRODUCTS AND SERVICES AS PER SERVICE STANDARDS SET BY THE FIRM TO SATISFY CUSTOMER. TRAINING METHOD: IDENTIFYING THE TRAINING NEEDS IMPARTING THE TRAINING ACCORDINGLY

HOW TO IDENTIFY THE NEED OF TRAINING? • FREQUENT GUEST COMPLAINT • POOR PERFORMANCE • LACK OF INTEREST • ACCIDENTS • BREAKAGES • WASTAGES • ABSENTEEISM

HOW TO MAKE A TRAINING EFFECTIVE? • ANALYSING THE STAFF BY TRAINING DEPARTMENT. • UNDERSTANDING THE LEVEL OF SKILL REQUIRED • IMPARTING THE CORRECT METHOD TO STAFF