Hospitality Business Toolkit: Final Accounts, Ratio Analysis, Performance Management Plan
Added on 2023-01-12
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THE HOSPITALITY
BUSINESS TOOLKIT
BUSINESS TOOLKIT
![Hospitality Business Toolkit: Final Accounts, Ratio Analysis, Performance Management Plan_1](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fez%2Fdb8391741b7e49fe9d6fbd4d0ac53a25.jpg&w=3840&q=10)
LO1..................................................................................................................................................3
a. Final accounts..........................................................................................................................3
b. Ratio analysis of Derby Enterprise Ltd...................................................................................6
LO2..................................................................................................................................................7
5. Performance management plan to HR Practitioner.................................................................7
LO3................................................................................................................................................10
P6 Legislatures the hospitality organization has to comply with..............................................10
P7 Impact of contract, employment and company law on decision making of hospitality
industry......................................................................................................................................11
LO4................................................................................................................................................12
P8 Evaluating different functional roles and their interrelation in an organization..................12
P9 Methods of communication in a specific department of a hospitality organization.............13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
a. Final accounts..........................................................................................................................3
b. Ratio analysis of Derby Enterprise Ltd...................................................................................6
LO2..................................................................................................................................................7
5. Performance management plan to HR Practitioner.................................................................7
LO3................................................................................................................................................10
P6 Legislatures the hospitality organization has to comply with..............................................10
P7 Impact of contract, employment and company law on decision making of hospitality
industry......................................................................................................................................11
LO4................................................................................................................................................12
P8 Evaluating different functional roles and their interrelation in an organization..................12
P9 Methods of communication in a specific department of a hospitality organization.............13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................16
![Hospitality Business Toolkit: Final Accounts, Ratio Analysis, Performance Management Plan_2](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fgq%2Fc6a67af4b3314404a338d86c732537e6.jpg&w=3840&q=10)
INTRODUCTION
The present report is based on hospitality business which in today’s world is counted as
the leading and growing business in an entire industry. The actions that are taken by managers
has a direct impact on the other areas and this could affect an interrelationship with that of the
departments so it is very important to develop a better understanding about all such things and be
able in taking an informed and effective decisions. It is essential for every business to have a
clear understanding of the factors in order to drive for profitability and the success of brand. It
must make use of the tool like human resources, planning for recruiting and in retaining best
staff, interpreting and applying the key financial indicators in driving or gaining the large market
share. Furthermore, this report will provide an opportunity in developing its business acumen by
covering a large number of the different activities of the business within an industry. This
involve budgeting, forecasting, interpreting the financial results effectively in compliance with
the regulation and the legislation.
LO1.
a. Final accounts
1. Journal entries
Journal
Date Particulars Debit Credit
1/4/2016 Cash A/c Dr. 180000
To capital A/c 180000
10/5/2016 Property A/c Dr. 130000
To cash A/c 130000
15/6/2016 Purchase A/c Dr. 6000
To cash A/c 6000
1/7/2016 Cash A/c Dr. 8000
To Sales A/c 8000
1/8/2016 Purchase A/c Dr. 9000
To cash A/c 9000
1/9/2016
Sundry expense A/c
Dr. 200
To Bank A/c 200
1/10/2016 Cash A/c Dr. 17000
To Sales A/c 17000
1/11/2016 Wages A/c Dr. 2100
The present report is based on hospitality business which in today’s world is counted as
the leading and growing business in an entire industry. The actions that are taken by managers
has a direct impact on the other areas and this could affect an interrelationship with that of the
departments so it is very important to develop a better understanding about all such things and be
able in taking an informed and effective decisions. It is essential for every business to have a
clear understanding of the factors in order to drive for profitability and the success of brand. It
must make use of the tool like human resources, planning for recruiting and in retaining best
staff, interpreting and applying the key financial indicators in driving or gaining the large market
share. Furthermore, this report will provide an opportunity in developing its business acumen by
covering a large number of the different activities of the business within an industry. This
involve budgeting, forecasting, interpreting the financial results effectively in compliance with
the regulation and the legislation.
LO1.
a. Final accounts
1. Journal entries
Journal
Date Particulars Debit Credit
1/4/2016 Cash A/c Dr. 180000
To capital A/c 180000
10/5/2016 Property A/c Dr. 130000
To cash A/c 130000
15/6/2016 Purchase A/c Dr. 6000
To cash A/c 6000
1/7/2016 Cash A/c Dr. 8000
To Sales A/c 8000
1/8/2016 Purchase A/c Dr. 9000
To cash A/c 9000
1/9/2016
Sundry expense A/c
Dr. 200
To Bank A/c 200
1/10/2016 Cash A/c Dr. 17000
To Sales A/c 17000
1/11/2016 Wages A/c Dr. 2100
![Hospitality Business Toolkit: Final Accounts, Ratio Analysis, Performance Management Plan_3](/_next/image/?url=https%3A%2F%2Fdesklib.com%2Fmedia%2Fimages%2Fpq%2F346ae8a567e845948ecc005ddc027c09.jpg&w=3840&q=10)
To cash A/c 2100
1/12/2016 Postage Cost A/c Dr. 300
To Bank A/c 300
352600 352600
2. Ledger accounts
Dr. Capital A/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
31/12/16 By bal c/d 180000 1/4/2016
By cash
A/c 180000
180000 180000
Dr. Property a/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
10/5/2016
To cash
a/c 130000 31/12/16 By bal c/d 130000
130000 130000
Dr. Purchase A/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
15/6/16
To cash
A/c 6000 31/12/16 By bal c/d 15000
1/8/2016
To cash
A/c 9000
15000 15000
Dr. Sales a/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
31/12/16 By bal c/d 25000 1/7/2016 By cash 8000
1/12/2016 Postage Cost A/c Dr. 300
To Bank A/c 300
352600 352600
2. Ledger accounts
Dr. Capital A/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
31/12/16 By bal c/d 180000 1/4/2016
By cash
A/c 180000
180000 180000
Dr. Property a/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
10/5/2016
To cash
a/c 130000 31/12/16 By bal c/d 130000
130000 130000
Dr. Purchase A/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
15/6/16
To cash
A/c 6000 31/12/16 By bal c/d 15000
1/8/2016
To cash
A/c 9000
15000 15000
Dr. Sales a/c Cr.
Date
Particular
s Amount Date
Particular
s
Amoun
t
31/12/16 By bal c/d 25000 1/7/2016 By cash 8000
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