UK hotel operators use of budgetary procedures

Jones, Tracy A. (1998) UK hotel operators use of budgetary procedures. International Journal of Contemporary Hospitality Management, 10 (3). pp. 96-100. ISSN 0959-6119

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Abstract

This article reports key findings from a comprehensive survey concerning budgeting within UK hotels. A postal questionnaire was sent to company finance directors. The results are based on 44 companies representing a 45.4 per cent response rate. It considered many aspects of budgeting policies and procedures such as: why they use budgets; who is involved in the process; for what time period they produce budgets; the use made of flexible budgets and zero-based budgeting techniques; and how budgets are used in the control process. Key results indicate that the main use of budgeting was to evaluate performance and aid control. In producing budgets the bottom-up approach was most commonly used, but not as widely as in the USA. Zero-based budgeting and flexible budgeting techniques seemed under-utilised. As 59 per cent of organizations did not review their budgeting policies and procedures on a routine basis it is possible organizations could be making better use of their budgets to aid the organization. It might also be possible that some theoretical techniques are not appropriate in an hospitality environment.

Item Type: Article
Article Type: Article
Subjects: H Social Sciences > HF Commerce > HF5001 Business > HF5601 Accounting. Bookkeeping
H Social Sciences > HG Finance > HG4001 Finance management. Business finance
Divisions: Schools and Research Institutes > Business School > Accounting and Finance
Depositing User: Tracy Jones
Date Deposited: 09 Jun 2014 14:58
Last Modified: 22 Oct 2015 15:59
URI: http://eprints.glos.ac.uk/id/eprint/714

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