This document discusses the principles of managing and monitoring financial performance in the hospitality sector. It also explains the double entry bookkeeping system and provides a basic trial balance. Additionally, it assesses how to manage the human resources life cycle and develop a performance management plan for a specific job role in the hospitality industry. The potential impact of legal and ethical considerations on a hospitality business is also illustrated, along with the importance of coordinating and integrating various functions of departments within the sector.