OPERATIONAL BUDGETING IN HOSPITALITY
Abstract:
Successful business enterprises are based on reliable and proper financial reporting. Financial reporting is the basis in forming valuable components that make up the elements of the budget. In hospitality industry, budget appears as a set business plan, but also as an instrument of control efficiency. Through the operating budget, management of a hotel is able to compare planned and actual values in business in a financial year and this continuously examines the results of its operations. The aim of this paper is to highlight the important role of operational budgeting in the complex system of business enterprises in the hospitality industry.
CITATION:
IEEE format
N. Radović, T. Radojević, “OPERATIONAL BUDGETING IN HOSPITALITY,” in FINIZ 2014 - The Role of Financial Reporting in Corporate Governance, Belgrade, Singidunum University, Serbia, 2014, pp. 43-44. doi: 10.15308/finiz-2014-43-44
APA format
Radović, N., Radojević, T. (2014). OPERATIONAL BUDGETING IN HOSPITALITY. Paper presented at FINIZ 2014 - The Role of Financial Reporting in Corporate Governance. doi:10.15308/finiz-2014-43-44
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