Q6. In the space below please outline i) how hospitality businesses use budgets to control costs...

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Q6. In the space below please outline i) how hospitality businesses use budgets to control costs and enhance profitability; ii) the importance of budget control; iii) the techniques they can use for maximising budget performance; iv) the typical financial reporting procedures and cycles; and finally v) the features and functions of accounting software programs used to manage budgets. i) how hospitality businesses use budgets to control costs and enhance profitability; ii) the importance of budget control; iii) the techniques they can use for maximising budget performance; iv) the typical financial reporting procedures and cycles; and v) the features and functions of accounting software programs used to manage budgets. Source: For Assessor to deem above responses as either S-Satisfactory or ONS-Not Satisfactory SITXFIN003 Manage finances within a budget - Summative Assessment Tool SRAGILL Pty Ltd T/A AVETA-Australian Vocational Education & Training Academy, www.aveta.edu.au CRICOS Provider Code: 02826G, RTO Number: 21888 Page 20 of 31 Q6. In the space below please outline i) how hospitality businesses use budgets to control costs and enhance profitability; ii) the importance of budget control; iii) the techniques they can use for maximising budget performance; iv) the typical financial reporting procedures and cycles; and finally v) the features and functions of accounting software programs used to manage budgets. i) how hospitality businesses use budgets to control costs and enhance profitability; ii) the importance of budget control; iii) the techniques they can use for maximising budget performance; iv) the typical financial reporting procedures and cycles; and v) the features and functions of accounting software programs used to manage budgets. Source: For Assessor to deem above responses as either S-Satisfactory or ONS-Not Satisfactory SITXFIN003 Manage finances within a budget - Summative Assessment Tool SRAGILL Pty Ltd T/A AVETA-Australian Vocational Education & Training Academy, www.aveta.edu.au CRICOS Provider Code: 02826G, RTO Number: 21888 Page 20 of 31