Financial Information for Decision Making

Only available on StudyMode
  • Download(s) : 234
  • Published : April 29, 2013
Open Document
Text Preview
DIP0012 Financial Information for Decision Making
Project

Lecturer : Mohamad Karaki

By Santy Ramasamy #26261, Dexter Chai # 26464, Yijie Eu #27005

DIP0012 Financial Information for Decision Making Project

Table of Contents
CHAPTER 1 ................................................................................................................................................... 2 1Bank Statement ........................................................................................................................................... 3 PART 2 .......................................................................................................................................................... 4 1. Define GAAP, the structure of GAAP, the role of the framework and the usage of GAAP globally. ........... 4 2. Briefly describe the structure of the IFRS and the role of the framework and the usage of IFRS globally. . 5 3. Compare between GAAP and IFRS and list 3 key benefits and 3 disadvantages of each standard over the other. ........................................................................................................................................................ 6 CHAPTER 2 ................................................................................................................................................... 8 1Income Statement ........................................................................................................................................ 9 2. F&B Contribution Margin (CM) - Sales - Variable Costs) giving explanation of the deviation................... 10 3.2. Analyzing the figures and comment on all significant variances, assuming potential reasons of the deviation....................................................................................................................................................... 10 3.3. Actions should be taken to address the variances shown (specify which)? .......................................... 11 3.4 What new approaches can you suggest to the CEO of Crystal Clear Resorts for managing the budget and promote ways of budget control awareness? ........................................................................................ 11 3.5 Recommend the CEO on how to implement changes in income and expenditure priorities. ................. 11 4.1 Analyzing figures and outlining major company problem areas ............................................................. 12 4.2 Internal documents needed to be issued and analyzed for problems investigation ................................ 12 4.3 Suggested actions to be taken to improve current situation. .................................................................. 12 4.4 Positive and negative impact of these changes on customer service and staff. ..................................... 13 5. Listing and explanation to two other useful analysis techniques and how they are calculated. ................ 13 6. Outlining three legislative requirements that the resort’s management needs to be aware of, detailing the impacts......................................................................................................................................................... 13 CHAPTER 3 ................................................................................................................................................. 14 1. Operational Budget for Crystal Clear Resort ........................................................................................... 15 2. Role and scope of budget in a hospitality establishment ......................................................................... 16 3. Nature of budgetary planning activity, identifying data and data sources ................................................ 16 4. Internal and external factors that may have potential impact on budget .................................................. 17 Internal factors...
tracking img