Hospitality Business Toolkit: Financial, HR, and Performance Report

This report provides a detailed analysis of the hospitality business toolkit, examining financial practices, performance measurement, and human resource management. The report begins by exploring the use of double-entry bookkeeping within Carnival Corporation & PLC, including journal entries, ledger accounts, and trial balances. It then delves into key performance indicators (KPIs) such as RevPASH and cash flow, recommending their use for financial performance management. Furthermore, the report addresses HR lifecycle stages for talent management, emphasizing recruitment, education, motivation, evaluation, and celebration. The importance of talent management for business objectives is also discussed. Performance planning, including performance improvement plans, is also covered. The report provides a comprehensive overview of various aspects of the hospitality industry's business operations and management strategies.

THE HOSPITALITY
BUSINESS TOOLKIT

Table of Contents
ACTIVITY 1....................................................................................................................................3
ACTIVITY 2..................................................................................................................................14
Activity 2.......................................................................................................................................15
Recommending methods to measure Financial Performance...................................................15
Activity 3.......................................................................................................................................16
HR life-cycle for Talent management.......................................................................................16
Activity 4-360................................................................................................................................17
Performance planning...............................................................................................................17
Activity 5.......................................................................................................................................18
Training for law of the Hospitality Industry.............................................................................18
Activity 6.......................................................................................................................................19
Briefing on Legal and Ethical Considerations..........................................................................19
Activity 7.......................................................................................................................................20
Exploring functional roles.........................................................................................................20
Activity 8-360................................................................................................................................21
Analysing Communication, Coordination and Monitoring methods........................................21
REFERENCES..............................................................................................................................23

ACTIVITY 1
Carnival Corporation & PLC uses double entry book-keeping system for recording its
financial transactions. As per this system all the transactions done by company has affects on
both sides of books of accounts of company. After this transactions are posted in to ledger
accounts which helps company in preparing trial balance(Parmenter, 2015).
Journal Entries

Date Particulars Debit Credit
01/02/18 Purchase a/c Dr.
To Kate's Kitchen
a/c
£5,001.00
£5,001.00
01/02/18 Purchase a/c Dr.
To Harry a/c
£29,552.00
£29,552.00
03/02/18 Cash a/c Dr.
To sales
£13,027.00
. £13,027.00
06/02/18 Kate's Kitchen a/c Dr.
To Bank a/c
£5,001.00
£5,001.00
10/02/18 Cash a/c Dr.
To sales a/c
£10,653.00
£10,653.00
14/02/18 Bank a/c Dr.
To sale a/c
£2,008.00
£2,008.00
17/02/18 Cash a/c Dr.
To sales a/c
£13,321.00
£13,321.00
17/02/18 Harry's a/c Dr.
To cash
£29,552.00
£29,552.00
22/02/18 Purchase a/c Dr.
To Kate's Kitchen a/c
£7,013.00
£7,013.00
24/02/18 Cash a/c Dr.
To sale a/c
£12,329.00
£12,329.00

Total £127,457.00 £127,457.00
Sales Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
03/02/18 By cash £13,027.00
10/02/18 By cash £10,653.00
14/02/18 By bank £2,008.00
28/02/18 To closing bal. £51,338.00 17/02/18 By cash £13,321.00
24/02/18 By cash £12,329.00
£51,338.00 £51,338.00
Sales Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
03/02/18 By cash £13,027.00
10/02/18 By cash £10,653.00
14/02/18 By bank £2,008.00
28/02/18 To closing bal. £51,338.00 17/02/18 By cash £13,321.00
24/02/18 By cash £12,329.00
£51,338.00 £51,338.00
Sales Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)

03/02/18 By cash £13,027.00
10/02/18 By cash £10,653.00
14/02/18 By bank £2,008.00
28/02/18 To closing bal. £51,338.00 17/02/18 By cash £13,321.00
24/02/18 By cash £12,329.00
£51,338.00 £51,338.00

Purchase AccountACTIVITY 1
Carnival Corporation & PLC uses double entry book-keeping system for recording its
financial transactions. As per this system all the transactions done by company has affects on
both sides of books of accounts of company. After this transactions are posted in to ledger
accounts which helps company in preparing trial balance(Parmenter, 2015).
Journal Entries
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
01/02/18 To Kate's a/c £5,001.00
01/02/18 To Harry's a/c £29,552.00
22/02/18 To Kate's a/c £7,013.00 28/02/18 By closing bal. £41,566.00
£41,566.00 £41,566.00

Kate's Kitchen Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
06/02/18 To bank £5,001.00 01/02/18 By purchases £5,001.00
22/02/18 By purchases £7,013.00
28/02/18 To closing bal. £7,013.00
£12,014.00 £12,014.00

Harry's Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
17/02/18 To cash £29,552.00 01/02/18 By purchase £29,552.00
£29,552.00 £29,552.00

Cash Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
03/02/18 To sales £13,027.00 17/02/18 By Harry's a/c £29,552.00
10/02/18 To sales £10,653.00
17/02/18 To sales £13,321.00 28/02/18 By closing bal. £19,778.00
24/02/18 To sales £12,329.00
£49,330.00 £49,330.00

Bank Account
Date Particulars Amount (Dr) Date Particulars Amount (Cr)
14/02/18 To sales £2,008.00 06/02/18 By Kate's a/c £5,001.00
28/02/18 To closing bal. £2,993.00
£5,001.00 £5,001.00