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Principal Of Managing And Monitoring Financial Performance

University:

  • Unit No: N/A
  • Level: High school
  • Pages: 5 / Words 1158
  • Paper Type: Assignment
  • Course Code: HNHM304
  • Downloads: 890
Brief :
Organization Selected : Hotel Hilton

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
 
  sample.jpg

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-

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

Pass

Merit

Distinction

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

D1 Record the transaction with the correct amount and according prepare the trial balance, by ensuring that accounting principles are followed accurately

D2 provide justification on how processes of HR can be improved for the effective talent planning throughout the HR life cycle.

P1What are the principles of managing and how the financial performance can be monitored

P2 Make use of double entry book keeping system for the purpose of recording the transaction of sales and purchases in the general ledger

P3By applying the balance off rule to complete the ledger, draft a basic trial balance

M1 by properly identifying the sales and purchase transaction cover the same in trial balance by making use of the double entry book keeping system effectively and appropriately.

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

P4 What are the different stages of the HR life cycle that is applicable to specific job role and how it is important to retain and develop the talent

P5By applying various techniques for resolving negative behaviour and implications associated with the staff retention, draft a plan of the performance management

M2 in reference to the strategic talent management, how important is the HR life cycle.

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

D3 Do the critical analysis of the impact of the regulation, legislation and standards on the decision making.

D4 Do a critical analysis of different methods of the communication, coordination and monitoring and accordingly make the justification.

P6 what rules and regulations does hospitality organisation needs to comply with

P7By using specific examples, explain how the law related to company, employment and contract has significant impact on the business decision making in the hospitality industry

M3 What connotation does legislation and standards have in the hospitality sector

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

P8 Interrelate different functional roles in the hospitality sector

P9 what are the different methods of communication, coordination and monitoring that is applicable to the specific department of the hospitality organisation.

M4 investigate how different methods with respect to communication, coordination and monitoring helps in achieving the objectives and strengthen the value chain.

 
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