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SITXFIN402 Manage finances within a budget

Assessment 3 Part 1 -: Case Study


Case study details
This Case Study assignment is to be completed individually. This Assessment contains TWO
(2) parts, Part A and Part B.
Identity Verification
There is no Cover Sheet or Marking Sheet required for this Assessment Task - Electronic
authentication of Student identity and marking of answers for assessment is through unique
Login and Password. Students are reminded at Login, that the use of their unique login must
comply with the eLearning Conditions of Use they must agree to whenever they use their login
code to access the eLearning and Assessment Portal.
Overview
This Assessment Task requires the student to read, analyse and provide a written response to
a case study for the Top of the Town Hotel. Four (4) questions needs to be addressed in detail.
Students should attempt the questions once they feel they are confident that they fully
understand the course content delivered to them in line with their Study Plan. Timelines for
completion of this Assessment Task are in line with the Learners Study Plan.
Learners will have successfully completed this Assessment Task when they have completed all
questions within the assessment correctly, and submitted the completed work to SSA in either a
hard copy or electronic format.
Detailed Instructions:
Part A Case Study analysis on budget variance
Part B Short answer questions
The case study questions are located following the case study description. Learners are
required to submit typed responses to all questions. There is no minimum word requirement for
this task, however Students must address all aspects of the questions in the responses unless
otherwise specified; for example; if the question requires the student to list six (6) responses,
that is the minimum to be provided, if the question requires learners to provide calculations, a
show of workings is required) Learners will write answers on the assessment where applicable
(e.g. to complete tables or diagrams or multiple choice questions) and attach answer sheets to
their assessment when they submit.
Students answer sheets need to clearly identify the question they are answering and be
delivered to SSA within the timelines identified in the Learners Study Plan.

This document is uncontrolled when printed


SITXFIN402 Manage finances with a budget Students Assessment Task 3
Shafston House College Ltd trading as Service Skills Academy

Version 1.0 November 2014


Page 1 of 4

PART A
Case Study Analysis on Budget Variance
Top of the Town Hotel has asked you to calculate the variance for the following figures for the
month of July and August. Also calculate the total profit that was budgeted and actual. Analyse
the findings and inform them about the variance as they are concerned and would like to
monitor the income, expenditure, profit levels, budgetary performance of their Food and
Beverage Department.
Item
Sales
Revenue
Food Costs
Beverage
Costs
Labour
Costs
Fixed Costs
Total Costs
Profit

Budget
200,000

July
Actual
189,000

Budget
190,000

August
Actual
177,000

85,000
14,000

87,000
15,000

85,000
15,000

86,000
15,000

77,000

82,000

78,000

82,000

35,000

35,000

35,000

35,000

Variance

Variance

The Hotel owners and managers would like to know from you the major areas of concern where
there is a deviation that needs further monitoring and improvement.
Please provide a written analysis of the results and the possible reasons for the variances
based on the Budgeted Actual results.

This document is uncontrolled when printed


SITXFIN402 Manage finances with a budget Students Assessment Task 3
Shafston House College Ltd trading as Service Skills Academy

Version 1.0 November 2014


Page 2 of 4

PART B
Answer the following questions.
Questions:
1. What are the four (4) main points of importance for the owners to monitor budgets and what
are the reasons why you think it will help them to manage their finances better for the
business.
1.

2.

3.

4.

2. Explain to them the use of analysing the monthly budget and comparing the forecasted
budget against the actual budgets?

This document is uncontrolled when printed


SITXFIN402 Manage finances with a budget Students Assessment Task 3
Shafston House College Ltd trading as Service Skills Academy

Version 1.0 November 2014


Page 3 of 4

3. Explain your findings and possible reasons for these variances

4. Research and suggest what improvements do you think the owners can take to improve this
situation?

Important Note: Ensure you check your work before submitting

This document is uncontrolled when printed


SITXFIN402 Manage finances with a budget Students Assessment Task 3
Shafston House College Ltd trading as Service Skills Academy

Version 1.0 November 2014


Page 4 of 4

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