Hilton London: Business Toolkit Report - Financial and HR Analysis

This report provides a comprehensive business toolkit analysis of Hilton London. Project 1 focuses on financial aspects, including preparing journal entries for transactions, creating ledger accounts, generating a trial balance, and calculating various financial ratios. Project 2 delves into human resources, examining issues in talent acquisition and retention, exploring different stages of the HR life cycle, and evaluating the importance of HR in supporting and retaining talent. The report also includes a performance management plan and recommendations for improving processes, along with discussions on relevant regulations and the importance of communication within the value chain. The analysis provides insights into Hilton London's financial performance and HR strategies.

Business Toolkit

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT 1......................................................................................................................................3
Prepare journal entries for each transaction................................................................................3
Prepare ledger accounts from the above entries..........................................................................4
Prepare trial balance from the ledger..........................................................................................7
Calculate of various ratios:.........................................................................................................7
PROJECT 2......................................................................................................................................8
Overview of the issues in talent acquisition and retention..........................................................8
Different stages of HR life cycle.................................................................................................8
Review and evaluate each stage of HR life cycle and importance of HR in supporting,
growing and retaining talent........................................................................................................9
Develop performance management plan...................................................................................10
Recommendations for improving process and documents at each stage of life style...............11
Specific regulations, legislations and standards and their critical evaluation of its impact......11
Importance of communication and coordination in strengthening value chain........................12
Critical analysis of different methods of communication and coordination and
recommendations for specific department................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14
.........................................................................................................................................................1

INTRODUCTION
Hospitality industry consists of various businesses engaging in offering wide range of
services to the targeted customers (McIntosh and Harris, 2012). The main focus that industry aim
to target is to maximise the satisfaction level of customers so as to retain them for longer period
of time. Another objective of hospitality industry is to offer quality services to the customers that
requires support from various functions in terms of planning, coordinating and analysing various
activities in proper way. The present assignment report is based on “Hilton London” which is
currently engaged in offering leisure hospitality services in London. The report overviewing the
issues in talent acquisition and retention within hospitality sector. In addition with this, different
stages of life cycle and importance of HR, performance management plan, regulations applicable
for chosen organisation are briefly discussed under this report.
PROJECT 1
Prepare journal entries for each transaction
Journal entries: It is explained as act of recording financial data of any kind of
transaction carried out in the company weather it is economic or non-economic. Journals entries
are prepared by the Hilton in order to better understand the organization's debit and credit
balances (Cunha,2019). On the other hand journal entries is categorised in to two parts which
are, credit and debit side. Raised assets and expenses is classified under debit whereas,
enhancement in equity, income, and liability are covered in credit side. In this case, debits side is
equal to credit side. If there is differences in debit and credit side there is error in the journal
entry. Management of Hilton need to cross the entries mentioned on daily basis again in order to
identify the loop hole in the journal entry. It is essential to conduct in the working premises in
order to keep all record of the transaction mentioned in the journal. It is prepared with the help of
double entry or single entry bookkeeping method.
Date Particulars Debit Credit
01/04/16 Cash a/c 180000
To capital a/c 180000

10/05/16 Purchase a/c 130000
To cash a/c 130000
15/06/16 Purchase a/c 6000
To cash a/c 6000
01/07/16 Cash a/c 8000
To sales a/c 8000
01/08/16 Purchase a/c 9000
To cash a/c 9000
01/09/16 Sundry expenses a/c 200
To Bank a/c 200
01/10//16 Cash a/c 17000
To sales a/c 17000
01/11/16 Wages a/c 2100
To cash a/c 2100
01/12/16 Postages cost a/c 300
To Bank a/c 300

Prepare ledger accounts from the above entries
Ledger account: It is another type of account which is prepared by the fiancée
department of Hilton so as to record the business transaction. This forms a permanent record of
all transaction carried out in the company (Findlay,2019). Ledger account is assigned to
particular equity item, liability, revenue type and many more. There re three type of ledger
account which are, sales, general and purchase account. On the other hand it is also known as
principle book of accounts. It plays a vital role in the business administration because it directly
assist in checking the arithmetical accuracy of the recording of the financial transaction.
Additionally, it provide in-depth information regarding assets, incomes, creditors, debtors and
expenses.
Ledge accounts
Cash a/c
Date Particular Amount Date Particular Amount
01/04/16 To capital a/c 180000 10/05/16 By Purchase a/c 130000
01/07/16 To sales a/c 8000 15/06/16 By Purchase a/c 6000
01/10//16 To sales a/c 17000 01/08/16 By Purchase a/c 9000
01/11/16 By wages a/c 2100
31/03/17 By balance c/d 57900
205000 205000
Bank a/c
Date Particular Amount Date Particular Amount
31/03/17
To balance
b/d 500 01/09/16
By Sundry expenses
a/c 200
01/12/16 By Postages cost a/c 300
500 500

Purchase
a/c
Date Particular Amount Date Particular Amount
10/05/16 To cash a/c 130000 31/03/17 By balance c/d 145000
15/06/16 To cash a/c 6000
01/08/16 To cash a/c 9000
145000 145000
Sales a/c
Date Particular Amount Date Particular Amount
31/03/17
To balance
b/d 25000 01/07/16 By cash a/c 8000
01/10//16 By cash a/c 17000
25000 25000
Postage cost
a/c
Date Particular Amount Date Particular Amount
01/12/16 To Bank a/c 300 31/03/17 By balance c/d 300
300 300
Sundry
expenses

a/c
Date Particular Amount Date Particular Amount
01/09/16 To Bank a/c 200 31/03/17 By balance c/d 200
200 200
Wages a/c
Date Particular Amount Date Particular Amount
01/11/16 To cash a/c 2100 31/03/17 By balance c/d 2100
2100 2100
Capital a/c
Date Particular Amount Date Particular Amount
31/03/17
To balance
b/d 180000 01/04/16 By To cash a/c 180000
Prepare trial balance from the ledger
Trial balance: This refers to as bookkeeping worksheet where all the balances of the
ledger are complied into debit and credit side . The total of both the side should be same there
should be differences in the numerical figures. Hilton is preparing trial balance at the end of
every reporting year. Management is preparing trial balances in order to ensure that the entries
done in the bookkeeping are correct and authentic. There are distinguish benefits of trial balances
such as, identify uncover errors in posting, check debit side equal to credit side, make financial
statement, highlight the error in the ledger account and so on.
Trial Balance
Particular Debit Credit

Cash 57900
Sales 25000
Purchase 145000
Sundry expenses 200
Wages 2100
Postage cost 300
Bank 500
Capital 180000
205500 205500
Calculate of various ratios:
Ratio calculation
Current ratio = Current assets/Current liabilities
For 2014 = 4926/1508 = 3.26
For 2015 = 7700/5174 = 1.48
Operating profit margin = Operating income/Revenue
For 2014 = 914/9482*100 = 9.63%
For 2015 = 1042/11365*100 = 9.17%
Days trade receivable = Trade debtors/receivable*365
For 2014 = 2540/9482*365 = 97.77 days
For 2015 = 4280/11365*365 = 137.45 days
Sales revenue to capital employed = Sales/capital employed
For 2014 = 9482/8305 = 1.14
for 2015 = 11365/5094 = 2.23
Return on capital employed = EBIT/COE
For 2014 = 914/8305*100 = 11.005
for 2015 = 1042/5094*100 = 20.455

PROJECT 2
Overview of the issues in talent acquisition and retention
The organisations faces various issues while managing their human resources for this
they need to consider various aspects. Recruitment is crucial process for acquiring right
candidate in the organisation and while acquiring them various issues are faced by the
organisation (Yusupova, and Pozdeeva, 2018). The issues which are faced by Hilton London in
acquiring and managing the employees are:
 Finding Candidate: This is an issues which is faced by the management of the Hilton
London as they do not find the right candidate who posses the skills that are required by
a particular job. Due to this it becomes important for the Hilton London to focus more
upon retaining their existing employees.
 Overlapping Job description: People working in the hospitality industry need to
perform various generic jobs in addition to their role. Due to this their responsibilities
increases and thus it leads to increase in employees turnover (Silverstein, Samuel and
DeCarlo, 2013).
 Managing Diversity: In hospitality industry diversity among the employees is most due
to which they need to be managed. Due to this the employees have a level of discomfort
and lower level of satisfaction. It increases rate of turnover among the employees which
creates issues for the human resource managers of Hilton London in retaining them.
Different stages of HR life cycle
The human resources life cycle is a concept that facilitate to develop an understanding of
various stages of an employees time in an organisation. Along with the role of HRM in all the
stages can also be understood with these stages. This cycle includes five stages which starts with
recruiting the candidate and ends with their termination or transition (Six Stages to Success with
the Employee Lifecycle, 2018). Different stages of HR life cycle are explained for the role of
assistant food and beverages mangers of Hilton London are given below:
Recruiting: This is first stage of life cycle in which roles and responsibilities that need
to be performed by food and beverages managers are identified and on the basis of which the
pool of candidate is created by with help of advertisements. While recruiting the capabilities of
the employees are analysed and suitable one is recruited. The HR managers in Hilton London

discuses with the seniors food and beverages manager regarding various duties and roles that
assistant food and beverage managers has to perform. This enables them to analyse the
capabilities of the candidates that appears for the role.
Orientation and career planning: In this stages, the employees are made comfortable
with the environment in which they have to perform and with their roles, responsibilities, duties
etc. The HR managers of Hilton London for making food and beverage managers comfortable
organises sessions for the team with which an understanding and comfortability can be
developed among each other (Qiu, Shaukat and Tharyan, 2016). In addition to this they will
formulates various career plan for him which includes trainings that can make them competent
enough for dealing with changes in the supply chain etc.
Career Development: For the company it is important to keep their employees engaged
so that they can be retained with them for a longer period of time. The HR managers of Hilton
London identifies various opportunities for assistant food and beverage such as promotion to the
post of senior food and beverages managers. It can be achieved with the help of trainings and
development sessions as with this their skills can be improved that can contributes them in
achieving growth.
Termination or Transition: This is the last stage which signifies that the HR needs to
manage the retirement of the people. For this they formulate various policies and procedure for
the termination and transition. The human resource manager of Hilton London formulated
various policies for all the employee with the help of which the assistant manager can also exit
the organisation (Maier and Hadrich, 2011).
Review and evaluate each stage of HR life cycle and importance of HR in supporting, growing
and retaining talent
The organisation need to take into consideration various stages with the help of which
they can improve the performances of the employees and can retain them for a longer period of
time with the organisation. These stages facilitate them in identifying various options of
recruiting the candidate which can vary of different posts. Along with this various strategies can
be formulated that enables to ensures the welfare of the employees as with the help of career
development various trainings and development sessions are organised which ensures the
capabilities of the employees in performing their roles. This facilitate the HR managers in

ensuring the growth and support to the employees. Also it enables them to retain the employees
for a long period (Nickson, 2013).
Develop performance management plan
Performance management plan is a tool with the help of which the performance of the
employees can be improved. With the help of this best performer can provide guidance to the
management of the Hilton London that can facilitate meeting up with the expectations of the
organisations as well as that of the customers (Kusluvan and et. al., 2010). The performance plan
for the role of assistant food and beverages in Hilton London is :
 Plan: In this various rules and regulations, goal and objectives are identified which need
to be achieved by the individual who will be performing such role. The HR managers of
Hilton determine the distributors and other channel partners that the assistant food and
beverage manager need to co-ordinate with. This will enable them to determine the goals
that they have to achieve.
 Implement: Such policies so identified by the managers must be put into action in this
stage so that the objectives can be achieved. With this the supply chain can be improved
as the assistant food and beverage managers will take follow ups from the associated
parties. This will ensure the timely delivery and availability of the material so that the
services can be made readily available to the visitors of the hotel.
 Evaluate: In this stage, the performance can be evaluated by monitoring actions and
decisions that are taken by them during the course of their actions. The managers in
Hilton evaluate the performances on the basis of the tasks that has been allocated to the
employees and their actual performances (Kasemsap,2017).
 Feedback: After evaluation of the performance, various feedbacks are taken for the
party that is associated with the specific job role. For the job role the follow-ups need to
be taken from the supply chain partners and from other departments. With the help of
this the morale of the assistant managers of food and beverages can be increased.
With the help of this it can be analysed that the company must taken into consideration
various policies and procedure so that the performance can be managed. Also with this the
managers can execute their roles and responsibilities effectively.

Recommendations for improving process and documents at each stage of life style
HR managers need to go through various life cycle stages with the help of which they can
manage the human resources of the organisation efficiently. Various recommendation to the
organisation are :
 various method of recruitment must be sued so that appropriate candidate can be
recruited.
 Various training programs need to be organised as with the help of this they can make
their employee to perform multiple tasks so that as and when required they can be asked
to do so (Jauhari, 2014).
Specific regulations, legislations and standards and their critical evaluation of its impact
Various legislations are imposed on the businesses with the help of which the
performances and actions can be regulated. The implications of these laws make the business
follow same protocol which enhances the quality of the services to the customers. Various laws
are imposed on Hilton London which has impact on their operations, they are given below:
 Food Safety Act, 1990: For the hospitality organisation it is important to consider the
quality of the food that is being offered to the customers. To ensure this food safety act is
introduced which ensures the quality of the food, hygienic environment etc. Hilton is a
group of hotels that efficiently comply with such implications and this has positive
impact on their profitability as this improves the satisfaction level of the customers.
 Employment Act, 2002: Such act are imposed for protecting the interest of the
customers as it ensures various leaves scheme to the customers, minimum pay and
benefits to the customers and many more. In Hilton, all the employees are treated equally
and fairly in every context be it compensation, opportunities, benefits etc. that motivates
them to perform better. Also adoption of such act enables them to retain their employees
for a longer period (Hayes and Miller, 2011).
Importance of communication and coordination in strengthening value chain
Communication plays significant role in Hilton marketing department. This is because
when proper communication is done regarding the budget to the marketing division accordingly
they will design the promotional strategy. In order to gain productive outcomes it is essential to
have proper communication channels in the working premises. By doing so chances of error
reduces to a large extent and strengthen the value chain. Apart from this proper coordination

among the staff members is must because they are the one who will be working day and night to
meet the standards and will be strengthening their value chain. Coordination can be build by
creating healthy relation with one other and by reducing biasses and favouritism policy. Business
is able to achieve their desire outcomes when their group members has proper coordination and
are using effective communication channel to exchange relevant information (Foster and Carver,
2018).
Critical analysis of different methods of communication and coordination and recommendations
for specific department
There are numerous methods of communication and coordination which are explained as
follows:
Methods of communication and coordination:
Verbal method: It occurs at the time of communicating with others either it can be on
Skype. telephone, face to face etc. Effective marketing of Hilton's services and goods can be
done when there using proper communication and coordination channels. By using effective
methods of communication goods and services can be commercialized easily to the targeted
customers and set standards can be attained easily.
Voluntary cooperation: Coordination tend to be more effective when there is voluntary
participation of the employees in the work. Marketing department is able to meet the set targets
in the specified time because of the voluntary cooperation of the team working this department.
By using proper methods of communication and coordination emerging needs of the customers
are made satisfied easily (Chapman, 2011).
Recommendations:
 Modern tools and technologies should be adopted while communicating information
among each other.
 Both employer and employees must use more of written communication channel so that
whenever they feel requirement go run-through it and can perform the task accordingly.
By this chances of misinterpretation is reduced.
CONCLUSION
It can be summarised from the above discussion that there are different elements which
can impact either positive or negative on the hospitality industry. Every organisation consists of

rules and policies which assist them to monitor the financial stability of company by preparation
of journal entry, trial balance etc. It is also important for management to prepare performance
management plan so as to enhance the performance level of employees as well as an
organisation. The management is held responsible to ensure that an organisation follows HR
policy and legislation so as to maintain a healthy working environment and retention rate of
employees.

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Six Stages to Success with the Employee Lifecycle. 2018. [Online] Available
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