Financial Stability - Assignment

HBT

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................4
TASK 1............................................................................................................................................4
Provide an introduction to financial transactions of hospitality business by types of
documents...................................................................................................................................4
Principles of double entry bookkeeping system by debits and credits by personal income and
expenditure..................................................................................................................................5
Demonstrate the need of an accounting report by trial balance using sample data and statistics.
.....................................................................................................................................................8
Analyse types of cost and how it can influence financial performance by using accounting
principles...................................................................................................................................10
Critically evaluate the role of financial management in achieving growth in business. ..........11
TASK 2 and 3................................................................................................................................11
Overview of issues in talent acquisition and retention in food and beverage industry.............11
Specific legislation for hospitality sector and reflects the company's employment contract and
impact on organisational decision making................................................................................12
Evaluate each aspect of HR life cycle and their importance in supporting an specific job role.
...................................................................................................................................................12
TASK 4..........................................................................................................................................14
Different functional roles in hospitality sector and their interrelation......................................14
Different communication methods............................................................................................15
Analysis of different communication method in specific department......................................15
Role of communication method to integrate different departments..........................................15
Recommendations.....................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Hospitality is one of the broad category in which many fields and services includes in
which lodging, event planning, food and beverages, theme park, cruise, transportation and many
more fields include in it. All of these factors concerned with customer satisfaction and mainly
concerned with giving best attributes to the target market to enlarge business opportunities. This
report is based on the main sector of industry in which yummy tummy restaurant which aimed to
expand its market share that is situated in London UK and also deals in healthy salads and range

of blended juices and smoothies. This report is based on the financial stability that are require at
time of expand its business. In addition to reach at desirable outcomes organisation have to
acquire new talent and manpower and role of legislations in food and beverages sector that plays
an important role to reach at desirable outcomes. On other hand role and importance of
integration of various factors to each other in hospitality sector.
MAIN BODY
TASK 1
Provide an introduction to financial transactions of hospitality business by types of documents.
For every business requires an internal and external system of accountability that
provides accountability by keeping record of monetary inflows of sales revenue and outflows by
operating business. It provides necessary information that are obligatory to evaluate current and
past operations of business (Biber and et.al ., 2017.). It helps in record and maintains required
data and statistics by evaluating asset resources, credit liabilities and equities with ownership in
hospitality sector. When start a new business or expand in into new sphere organisation have to
collect or grab some accounting data with help of source documents that are basis of physical in
which transaction of business should be recorded (Caliandro and Gandini, 2016.). It works as as
evidence when auditors examine or review of position of the company with help of financial
statements. The necessary documents contains some necessary information in which detail
transactions of business, date and time of transactions, amount in which deals should be fixed
and an authorised signature.
There are various relevant documents that helps in achieve organisational goals and objectives
that are as follows:
Bank statements:
In bank statement consist of no. of adjustments about the company and their cash
transactions that are associated with the bank and shows the financial position of firm.
Sales order:
This is one of the important document that coupled with bill of lading or packaging list
and helps in invoice consumers in return of sales transactions. It is one of significant legal paper
which gives important insights and information to reach at desirable outcomes.
Supplier invoice: