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Budgeting and forecasting (B&F) in the hospitality industry is critical to determine, formulate, and align short-term and long-term goals for an organization. This detailed process is typically managed by a company’s finance department under the Chief Financial Officer s (CFO) guidance. During the B&F process, businesses will outline their financial direction, create a model of expectations for the next three to five years, allocate resources accordingly, and create a proper financial strategy to benefit the company.
Want to work with teammates/friends in real-time on an iWork file? Here's how to collaborate on Pages, Numbers, and Keynote on your Mac, iPhone, or iPad and streamline your workflow.