Understanding how to use financial projections for making business plans are a very important aspect of business planning. hotel managers are often required to perform these skills while planning for new concepts and projects which may help in getting additional revenue.
If budgeting and forecasting is done right, it can help you understand and make a business plans covering,
1. where to get revenue from?
2. What sort of resources you need in business
3. When do you need to get the resources,
4. what marketing activities you would need.
We have included a practical example from our live class to demonstrate the process of business planning. The business is a start-up business however it will help you understand Concepts of how do we prepare a budget from the bottom-up approach for any business.
This course was recorded during a live class with startup founders who do not have any formal background in accounting and finance. Course contents, speed, and explanations are designed keeping in mind those users, hence other users may find it slow and sometimes repetitive. I repeated a few things just to make my audience understand and absorb concepts.
This Class is the Third day of a five-day series of topics discussion in the course includes
Budgeting and forecasting and financial plan include.
A. Why Budgeting / Forecasting / Planning is needed for business
B. Is it just a paper exercise?
C. How to make use of budgeting & forecasting.
D. Components of Budgets.
E. How to forecast and defend the unforeseen future and able to defend it
What you’ll learn
- Why Budgeting is important
- Process of making budgets
- How to estimate revenue
- How to create a business plan while budgeting
- Key Points to remember and consider while making the budget
Are there any requirements or prerequisites for this course on budgeting and business plans?
- Previous two classes 1. Fundamentals of accounting for startup
- 2. Operation and financial analysis for business decisions.
Who this course is for:
- Startup Founders and Co-founders
- Business operation executives
hello are you a start-up owner or a co-founder or a business executive who need to understand the financial information of your business to make effective business decisions every business owner or business executive or operations manager director they need to make a lot of decisions which can impact financially to their businesses for that they need to understand what are the financial results how they should analyze the financial results how they can use the accounting information for their business making decisions since Bonnie’s Gupta and I am I work as a CFO for last seven to ten years in large companies large hotel companies I do consult on startups and help them to understand their financial situations help them to budget and forecast their revenue so that they can make operating decisions effectively I will teach you how to forecast your business how to budget your business how to use the accounting data into your operational decision-making so that you can make effective decisions there are a lot of decisions that you make for revenue for cost management for other information other control framework you see that your business is doing well or not doing well if we are not understanding the financial information of your own company or you know you always rely only on the CFO or the accounting manager or the financial controller of your company you may not be able to make right decisions at the right time here this course is going to help you to overcome that barrier of your education if you have not formally been educated on finance or accounting background this course will give you all the fundamentals that you need to understand to analyze and help you help your company to achieve operational efficiency this course will help you to understand the fundamentals of accounting fundamentals of Finance how to analyze the information how to gather the information how to help your finance team to gather relevant data which you need for your operational decision-making so join this webinar today
This course is being taught by Mr Manish Gupta, you can check out his other hotel management courses here
Learn how to analyse and maximize Restaurant Profitability
Analyze & Interpret Overall Hotel Financial Statements
Introduction & Fundamentals
Detail Budget Requirement
Process of making budget
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