The purpose of this case is to illustrate variance analysis in a service industry setting. You should aim to integrate learnings in ACCT3104 up to and including Topic 8. For example, teams’ ability to add insight and depth to their variance analyses requires application of knowledge beyond mere calculations, as reflected in the marking rubric.
You are given marketing data, a budgeted income statement, actual income statement, employee data and the underlying monthly budget prepared by the general manager. You use a monthly budget to assess the cost behaviour of each of the 50-plus line items, creating a series of variance analyses that enable you to assess the performance of the hotel. Data on employee wages and hours worked enable you to “drill down” to compute variances for hotel labour. Another unique aspect of the case is the availability of market data from a third-party, industry benchmarking firm that allows you to compute and further explore sales volume variances (i.e., sales variance analysis and market variance analyses).
It is envisaged that teams will undertake their own independent research of the hotel industry. For example, by consulting various sources such as journal articles and industry related publications etc. to develop their understanding of the contextual environment (i.e., hotels). This should further assist teams to provide depth and meaningful interpretation of results obtained from their analyses.
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