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Managing Hospitality Organisations

   

Added on  2020-10-05

16 Pages4054 Words98 Views
Professional Development
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MANAGING HOSPITALITYORGANISATIONS
Managing Hospitality Organisations_1

Table of ContentsINTRODUCTION...........................................................................................................................41. Preparation of journal entries..................................................................................................42.Preparation of ledgers account ................................................................................................53.Preparation of Trial balance.....................................................................................................64. Calculation of financial ratios ................................................................................................7b. Return on capital employed....................................................................................................7c. Current ratio ...........................................................................................................................81. Issues in talent acquisition and retention in hospitality sector................................................82. Different stages of HR life cycle in Hilton group for accounting job....................................93.Reviewing the different stages of HR cycle .........................................................................104 Evaluating the different stages of HR cycle and importance of HR .....................................105 Development of performance management plan ..................................................................116 Recommendation on improving processes and documents at each stage in HR life cycle...117. Legislations, regulations and standards that affect the decision making of the Hilton hotels...................................................................................................................................................128 Importance of communication and coordination in accounting department of the Hiltonhotel...........................................................................................................................................139. Different methods of communications and coordination......................................................13CONCLUSION.............................................................................................................................14REFERENCES..............................................................................................................................15
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INTRODUCTIONHospitality management is planning and organising the various components within in thehospitality industry such as managing hotels, resorts, private clubs, casino bars and morespecifically sales, operations, business development, other strategic events within theorganisations. The present report will lay emphasis on Hilton group of hotels and itsmanagement (Lopes, 2016). The assignment will cover hotel's HR's issue in appointingaccounting professionals, different stages involved in HR life cycle, impact of legislations andregulations on the organisation. The importance of communication and coordination in differentdepartments in the organisation and the different methods of communication will be highlightedin the present report.1. Preparation of journal entriesJournal entries for year 2016DateParticularsDebitCredit1/04/2016Cash a/c Dr. To Capital a/c1,80,0001,80,00010/05/2016Assets a/c Dr. To cash a/c1,30,0001,30,00015/06/2016Purchases a/c Dr. To cash a/c6,0006,00001/07/2016Cash a/c Dr. To Sales a/c8000800001/08/2016Purchases a/c Dr. To cash a/c9000900001/09/2016Sundry expenses a/c Dr. To Bank a/c20020001/10/201Cash a/c Dr.17,000
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6 To Sales a/c17,00001/11/2016Wages a/c Dr. To Cash a/c2,1002,10001/12/16Postage a/c Dr. To bank a/c3003002.Preparation of ledgers account Sales Ledger accountDateParticularsAmountDateParticularsAmount31/12/2016To balance c/d2500001/07/2016By cash 800001/10/2016By cash17000Purchase Ledger accountDateParticularsAmountDateParticularsAmount15/06/2016To cash 600031/12/216By balance c/d1500001/08/2016To cash9000Assets ledger accountDateParticularsAmountDateParticularsAmount10/05/2016To cash13000031/12/216By balance c/d130000Capital ledger accountDateParticularsAmountDateParticularsAmount31/12/2016To balance c/d180000By cash 180000Cash Ledger accountDateParticularsAmountDateParticularsAmount1/04/2016To capital18000010/05/2016By assets13000001/07/2016To sales800015/06/2016By purchases6000
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