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3214THS Financial Management for Tourism and Hotels Assignment Sample

Task 1 (T1): Purpose of The Budgeting Process and The Variance Analysis  1. Budget is a component of cost management practice by the respective sectors. It consists of planned volume of sales, expenditure, costs and profits of the industries. It is made for a particular period of time. This is used to compare with the actual operations of the businesses so that the industries can find out their mistakes. In other words, it is a strat…

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