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Preparing and Analyzing Budgets for Fleet Highlands Café
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Objective of Preparing a Budget for Fleet Highlands Café

The Fleet Highlands Café is a company that prepares meals for tourists and citizens in its kitchen located next to the local airport. The company’s planning and actual budgets for March appears below:

The Fleet Highlands Café

Planning and actual budgets for the month ended March 31, 2019

a)What is the objective of preparing a budget for Fleet Highlands Café? (10 marks)

b)Prepare a report showing the company’s revenue and spending variance for March? (20 marks)

c)Which variances should be of concern to management? Explain (40 marks)

d)Advise the Fleet Highlands Café on what they need to do to maintain their profitability and sustainability going forward. (20 marks)

The word count for this assignment is 1,500 words and will not include the title page, executive summary, contents page or bibliography.

It is important that you show knowledge of key debates within the wider literature. Also, it is strongly advised that you are critical in your writing and ensure a good level of integration and coherence in applying theories. Please work on, and ensure an excellent level of criticality, coherence, and flow of your report. This will require effective discussion and clarity.

Please note that a significant amount of the marks is awarded based on wider reading, critical and logical presentation, quality of argument, referencing, academic integrity and academic writing conventions. Please see Assessment Criteria as below

The Learning Outcomes assessed by this assessment are:

1.Demonstrate an understanding of different markets and sources of finance; and the role of budgeting in an organisation.  

2.Be able to assess budgets based financial data to support organisational objectives (CMI Los 2).

Thinking skills

3.Analyse the information contained in a company’s annual report; and appraise finance and investment decision.

Skills for life and work (general skills)

4.Demonstrate an understanding of the context within which accounting operates, and the various local and international standards that need to be complied with.

Subject-based practical skill

5.Effectively apply key ratios appropriate for analysing the financial performance of the orgnisation.

6.Effectively apply budgets and investment appraisal techniques

Your work should be word document processed in accordance with the following:

·Font size 12, using a sans serif font such as Arial or similar 1.5 line spacing.

·The page orientation should be ‘portrait’ (large diagrams and tables can be in landscape orientation if that enables them to fit on fewer pages)

·Margins on both sides of the page should be no less than 2 cm.

·Pages should be numbered

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