Principal Of Managing And Monitoring Financial Performance

Learning outcomes-

LO1 How finance can be managed and transactions can be recorded to minimise the cost in context to the hospitality sector

LO2 How the cycle of human resources can be managed in reference to HR strategy

LO3 What impact does ethical and legal consideration have on the hospitality business

LO4 How coordinating is an important aspect and also highlight the importance of integration of the various functions of department in context to the hospitality sector

Brief and guidance

Answer the below questions-

Provide the ledger accounts for the mentioned cash transactions

Details of the transactions

01/04/2016 (1) set up the business by introducing £180,000 in cash.

 10/05/2016 (2) Purchase property costing £130,000 Paid in cash.

15/06/2016 (3) Purchase goods costing £6,000 paid in cash.

 01/07/2016 (4) Sold goods for £8,000, all cash sales.

01/08/2016 (5) Purchase goods costing £9,000 paid in cash.

01/09/2016 (6) Pay a sundry expense of £200, by cheque.

01/10/2016 (7) Sold goods for £17,000. All cash sales.

01/11/2016 (8) Paid wages of £2,100 to an employee.

01/12/2016 (9) Pay postage costs of £300, by cheque.

Considering above details, you are required to-

• Write the journal entry for each transaction
• provide ledger accounts
• Prepare the trial balance

Dividends were paid on ordinary shares of around euro 120000 for two years

you are required to -

• Calculate operating profit margin
• Return on capital employed
• current ratio
• Day's trade receivables
• Sales revenue to capital employed

Provide comments on the results obtained.

Scenario

You are positioned as assistant business development manager in  Hilton Hotel. As you are working with the business development director, the requirements from you are to develop, manage and enhance the annual performance review process. You are requiring to take the responsibility for reviewing the training and development programmed for fostering the employees to engage, retain and develop professionally. What implications persist when it comes to retaining the staff and along with this also highlight on the stages involved in the HR life cycle. Also highlight the way it which it supports the talent acquisition and retention. Produce a performance management plan and make recommendations. Also provide the critical analysis of the identification of the influence of legal and ethical aspects. How important are different methods of communication?

In this report, answer the following-

4. The issues with respect to the talent acquisition and retention in the hospitality sector
5. What stages are including in the HR life cycle for the specific job role
6. Do the evaluation of each stage of the cycle individually and also explain how the role of HR support, grow and retain the talent
7. Develop a performance management plan
8. Provide recommendations on how processes and documents at each stage of thee HR life cycle can be enhanced
9. Which specific regulation, legislation and standards impacts the decision-making process of the chosen organization
10. How important is the communication and coordination in a specific department for the chosen hospitality organization that strengthen the value chain?
11. Do a critical analysis of the various methods of the communication and coordination and accordingly make the justifications