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Financial and Resource Management - Essay Example

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This will make the club equipments more sophisticated as the current equipments are either outdated or not in a good condition. The removal of some of the dangerous…
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Financial and Resource Management
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Financial and Resource Management

Download file to see previous pages... Therefore the net cost of training amounts to $60 only. But this is a good arrangement as it will save the time taken for the repair of the machine thereby keeping the revenues flowing.
As per the Quantitative analysis tools like NPV, IRR etc the new investment proposal is viable. A forecast of the revenue for the four year period highlights that the new investment will generate positive net cash flows.
The Leisure and Health Club, the gym facility at Bombay Excelsior is planning to refurbish itself to keep in line with Excelsior International standards. For this the club plans to purchase new equipments, as the equipments currently in use do not meet quality requirements. For the purchase of equipments the hotel has a number of options- it can either buy the equipments outright or it can take a lease.
The budgets are designed to direct the organization towards the achievement of the business objectives. There can be three types of budgeting approaches like Incremental Budgeting, Zero-based budgeting and Mixed Approach. The Incremental budgeting is based on the estimates of the last year, Zero-based budgeting is done afresh and Mixed Approach, as the name implies, comprises the elements of both the incremental and zero-based budgeting. The budgeted estimates are then compared with the actual results to identify any deviations. In the event of unfavourable or adverse variance corrective action is initiated.
In the financial year 2009 Bombay Excelsior estimated a Total Income of $7421200. But the actual income during the period was $6817500. This shows that there is an Unfavourable variance in the estimated Total Income of $603900. The highest deviation in this regard has been in the case of Room Revenue and Food Revenue whereas actual Beverage and Other Revenue match their budgeted projections. In December 2009 the Planned Total Income was ...Download file to see next pagesRead More
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