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Hospitality Business Toolkit - HR Life Cycle

   

Added on  2021-01-02

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Hospitality Business Toolkit
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.Introduction to the financial transactions along with the identification of the types of sourcedocuments and recording processes.......................................................................................12.The principle of double entry bookkeeping system............................................................23.Demonstrate the need for an accounting report and presentation of a trail balance by using asample data.............................................................................................................................24.Analysis of the types of cost that how they can be managed to influence the financialperformance............................................................................................................................35.Evaluation of the importance of accurate recording of the transactions with acceptedaccounting principles..............................................................................................................46.Critically evaluation of the role of financial management and monitoring in achievingpositive growth in the business...............................................................................................5TASK 2............................................................................................................................................51.Overview of the issues in talent acquisition and retention within the food & beverageindustry...................................................................................................................................52.Relate factors to a specific hospitality job in food & beverage industry.............................63.Identification of specific legislation and reflection in company's employment contract or itspotential impact on business decision making.......................................................................64.Evaluation of the stages of HR life cycle and the importance HR plays in supporting,growing and retaining talent applied in the specific job role.................................................75. Develop a performance management plan to support the specific job role.......................96.Recommendations on processes and documents at each stage of the HR life cycle can beimproved.................................................................................................................................9TASK 3..........................................................................................................................................10
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Covered in to PPT................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONHospitality industry is broad group of business that provide various services tocustomers. It can be a wide category of fields within the service industry that includes lodging,accommodation, event planning, transportation and other related services. This assignment isdiscussed about Kickapoo Joy juice & Drinks which is London Based company specialises insalads, juice and smoothies. This task is discussed about principles of financial management anddouble entry bookkeeping system on translations in a ledger. Types of cost and influence offinancial performance is explained and critically evaluation of the role of financial managementto monitor or achieving positive growth in the business. This report will further review thevarious stages of HR life cycle, performance management plan and specific legislation of thehospitality organisation. Different functional roles, various communication methods and theeffectiveness of that methods will explained in the report. A mind map of differentcommunication methods and recommendation son processes or documents which makeimprovement in company's departmental integration are defined (Jayawardena and et. al., 2013).TASK 11.Introduction to the financial transactions along with the identification of the types of sourcedocuments and recording processesFinancial transaction is an agreement that carried out between buyer and seller to makeexchange an assets for payment. These transactions involves a change in the status of thefinances of two or more individuals. In Kickapoo joy, these transactions take place when thegoods are exchanged at one time and the money at another. Source documents- It is a written documents that provide details of a transaction and theevidence that the transaction has taken place. In Kickapoo joy, they are important for thecompany because they provide information about business transaction, date of transaction,specific amount of money, authorizing signature and back up the accounting journals and generalledger during an accounting and tax audit. There are various types of source documents such aschecks, invoices, receipts, credit memo, deposit slips etc. Recording process- It is a process that record and have information about the financialtransaction of the firm and organisation (Kysilka and Csaba, 2013). In Kickapoo joy, the1
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