QUESTION 11 Discuss the role of a budget and financial reports for a business. QUESTION 12 Discuss how changes in legislation can impact on a budget. Give three examples of legislation changes in the last decade that have had an impact on the hospitality industry and the profitability margins. QUESTION 13 Discuss how a hospitality business might manage and recover their profit margin in a downturn in the economy. QUESTION 14 Identify five internal sources of information that may be used as a basis for preparing a budget and forecasting income and expenditure