Carnival Corporation and PLC: A Hospitality Business Toolkit

Desklib provides past papers and solved assignments. This project analyzes Carnival Corporation's hospitality business.

THE HOPSPITALITY BUSINESS TOOLKIT

Contents
INTRODUCTION...........................................................................................................................2
ACTIVITY 1...................................................................................................................................3
ACTIVITY 2.................................................................................................................................10
ACTIVITY 3.................................................................................................................................12
ACTIVITY 4.................................................................................................................................14
ACTIVITY 5.................................................................................................................................15
ACTIVITY 6.................................................................................................................................17
ACTIVITY 7.................................................................................................................................18
ACTIVITY 8.................................................................................................................................21
CONCLUSION..............................................................................................................................24
REFERENCES..............................................................................................................................25

INTRODUCTION
The hospitality industry is growing very rapidly all over the world and hospitality management
has become the major concern in this business (Lopes, 2016). This assignment will discuss
about the British-American travel company called Carnival Corporation and PLC which is
claiming that currently, it is the World's largest leisure travel company. In this assignment, the
Finance report of the transaction of the company is given and recommended the method to
measure financial performance. the report on HR life cycle for talent management and frame
the performance management plan will also prepared. This assignment will also discuss the
training on the law for the hospitality industry and provided the briefing on legal and ethical
consideration and analyzed the communication, coordination and monitoring methods.

ACTIVITY 1
DOUBLE-ENTRY BOOK-KEEPING TO TRIAL BALANCE
The Journal Entries of a Cruise Ship are given below:
DATE PARTICULARS Debit (£) Credit (£)
1st Feb Purchasesa/c
Cr. Kate’s a/c
Cr. Harry’s a/c
34553
5001
29552
3rd Feb Cash a/c
Cr. Sales of beverages a/c
Cr. Sales of food a/c
13027
11203
1824
6th Feb Kate’s a/c
Cr. Bank a/c
5001
5001
10th Feb Cash a/c
Cr. Beverage sales a/c
Cr. Food sales a/c
10653
8966
1687
14th Feb Drawings a/c
Cr. cash a/c
2008
2008
14th Feb Meganne’s a/c 2008

Cr. Bank a/c 2008
17th Feb Cash a/c
Cr. Sales of beverage a/c
Cr. Sales of food a/c
13321
11,710
1,611
17th Feb Harry’s a/c
Cr. Cash a/c
29552
29552
22nd Feb Purchasesa/c
Cr. Kate a/c
7013
7013
24th Feb Cash a/c
Cr. Sales of beverage a/c
Cr. Sales of food a/c
12329
10614
1715

LEDGER ENTRIES
SALES A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
28th
Feb To bal c/d 49330
3rd Feb
10thFeb
17th
Feb
24th
Feb
By cash a/c
By cash a/c
By cash a/c
By cash a/c
13027
10653
13321
12329
Total 49330 Total 49330

PURCHASE A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
1st Feb
22nd
Feb
To Kate a/c
To Harry a/c
To Kate a/c
5001
29552
7013 28th
Feb
By bal c/d 41566
Total 41556 Total 41556
CASH A/C
Dr Cr.
DATE PARTICULARS J.F AMOUNT(£) DAT
E
PARTICULARS J.F AMOUNT(£)
3rd Feb
10th
Feb
17th
Feb
24th
Feb
To sales a/c
To sales a/c
To sales a/c
To sales a/c
13027
10653
13321
12329
49330
14th
Feb
17th
Feb
28th
Feb
By Drawings
By Harry a/c
By bal c/d
2008
29552
17,770
49330

HARRY’S A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
17th Feb To cash a/c 29552 1st
Feb
By purchase a/c 29552
29552 29552
Drawings a/c
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
KATE’S A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
6th Feb
28th
Feb
To bank a/c
To bal c/d
5001
7013
1st
Feb
22nd
Feb
By purchase a/c
By purchase a/c
5001
7013
12014 12014

17th Feb To cash a/c 2008 1st
Feb
By Bal c /d 2008
2008 2008
Bank A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
28th
Feb
To Bal c/d 7009 6 Feb
14
Feb
By kate
By Meganne
5001
2008
Total 7009 Total 7009
Meganne’s A/C
Dr. Cr.
DATE PARTICULARS J.F AMOUNT(£) DATE PARTICULARS J.F AMOUNT(£)
14h
Feb
To Bank 2008 28th
Feb
By Bal c/d 2008

Total 2008 Total 2008

TRIAL BALANCE OF CARNIVAL CORPORATION AND PLC
ACCOUNT TITLE L.F DEBIT (£) CREDIT (£)
Cash
Sales
Purchase
Bank
Kate
Meganne
Drawings
Utility expenses
17,770
41566
7009
7013
49330
2008
2008
20,012
73358 73358

ACTIVITY 2
KEY PERFORMANCE INDICATOR FOR RESTAURANTS
In every business, it is very important to track the key performance indicator. To ensure the
success of the restaurants it is necessary to measure, evaluate, and adjust operations with the
help of KPI. It helps in to evaluate how effectively the company is achieving its key objectives
(Burns, et al., 2014). The two key performance indicators of the restaurants are:
 Cost of goods sold: Cost of goods sold is the most important key performance indicator
for restaurants. It refers to the cost which is required to create the food items. For many
restaurants, it is the largest expense which is making it one of the most important
indicators of performance and it is the best way to manage the cost of food.
 Determine prime cost: Determining the prime cost gives a comprehensive indicator of
expenses. To run the restaurant successfully it is very important to determine the prime
cost on a daily or weekly basis. This will help in managing the cost and make understand
where the cost should cut and how the budget can be managed and maintain properly.
PRINCIPLES OF MANAGING AND MONITORING FINANCIALPERFORMANCE
It is very important to regularly monitor and managed the financial performance of the
company in order to run a business successfully (Gitman, et al., 2015). There are some
principles of managing and monitoring financial performance has been given.
 Preparation of key financial statement: It is very important for the company to produce
the basic report that carries the balance sheet and profit and loss statement. It helps in
determining the financial condition of the company and according to that, the
improvement can be made. Preparation of working capital statement:It is a very important aspect of managing
financial performance. The daily working capital statement should be prepared to
analyze the daily performance and it also helps in managing the cost of the company.