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Finance in the Hospitality Industry

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TABLE OF CONTENT
INTRODUCTION ............................................................................................................................... 3
TASK-1--LO1- 1.1: SOURCES OF FUNDING AVAILABLE TO BUSINESS AND
SERVICES INDUSTRIES ................................................................................................................ 3
LO1- 1.2: CONTRIBUTION MADE BY A RANGE OF METHODS OF GENERATING
INCOME WITHIN A GIVEN BUSINESS AND SERVICES OPERATIONS .................... 4
TASK-1LO2- 2.1: ELEMENTS OF COSTS, GROSS PROFIT AND SELLING
PRICES FOR PRODUCTS & SERVICES ................................................................................... 5
TASK-1LO2- 2.2: METHODS OF CONTROLLING STOCKS AND CASH IN A
BUSINESS & SERVICES ENVIRONMENT .............................................................................. 7
TASK-2LO3- 3.1& 3.2: STRUCTURE AND SOURCES OF THE TRIAL BALANCE
& BUSINESS ACCOUNTS, ADJUSTMENTS AND NOTES ................................................. 8
3.1.1 STRUCTURE AND SOURCES OF THE TRIAL BALANCE ........................................................................... 8
LO3- 3.3: PROCESS AND PURPOSE OF BUDGETARY CONTROL AND ANALYZE
VARIANCES FROM BUDGETED AND ACTUAL FIGURES, OFFERING
SUGGESTIONS FOR APPROPRIATE FUTURE MANAGEMENT ACTION .............. 11
TASK-3LO4- 4.1: RATIO ANALYSIS AND CONSISTENT INTERPRETATION OF
HISTORICAL BUSINESS PERFORMANCE .......................................................................... 13
LO4- 4.2: RECOMMENDATION FOR APPROPRIATE FUTURE MANAGEMENT
STRATEGIES .................................................................................................................................... 14
TASK-4 LO5- 5.1: CATEGORIZE COSTS AS FIXED, VARIABLE AND SEMI-
VARIABLE ......................................................................................................................................... 14
TASK-4 LO5- 5.2: CALCULATE CONTRIBUTION PER PRODUCT/CUSTOMER
AND EXPLAIN THE COST/PROFIT/VOLUME RELATIONSHIP FOR A GIVEN
SCENARIO ......................................................................................................................................... 15
TASK-4 LO5- 5.3: JUSTIFY SHORT-TERM MANAGEMENT DECISIONS BASED
ON PROFIT/LOSS POTENTIALS AND RISK (BREAK-EVEN) CALCULATIONS
FOR A GIVEN BUSINESS AND SERVICES OPERATION ................................................ 16
M1 IDENTIFY AND APPLY APPROPRIATE STRATEGIES, ....................................... 17
M2 SELECT/DESIGN AND APPLY APPROPRIATE STRATEGIES .......................... 17
M3 PRESENT AND COMMUNICATE APPROPRIATE FINDINGS ........................... 17
REFERENCE ..................................................................................................................................... 18

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 Table of content Introduction 3 Task-1--LO1- 1.1: Sources of Funding Available to Business and Services Industries 3 LO1- 1.2: Contribution Made by a Range of Methods of Generating Income within a Given Business and Services Operations 4 Task-1—LO2- 2.1: Elements of Costs, Gross Profit and Selling Prices for Products & Services 5 Task-1—LO2- 2.2: Methods of Controlling Stocks and Cash in a Business & Services Environment 7 Controlling Liquid Money 7 Task-2—LO3- 3.1& 3.2: Structure and Sources of the Trial Balance & Business Accounts, Adjustments and Notes 8 3.1.1 Structure and Sources of the Trial Balance 8 LO3- 3.3: Process and Purpose of Budgetary Control and Analyze Variances from Budgeted and Actual Figures, Offering Suggestions for Appropriate Future Management Action 11 Task-3—LO4- 4.1: Ratio Analysis and Consistent Interpretation of Historical Business Performance 13 LO4- 4.2: Recommendation for Appropriate Future Management Strategies 14 Task-4 LO5- 5.1: Categorize Costs as Fixed, Variable and Semi-Variable  14 Task-4 LO5- 5.2: Calculate Contribution per Product/Customer and Explain the cost/profit/volume Relationship for a given scenario 15 Task-4 LO5- 5.3: Justify Short-term Management Decisions Based on Profit/loss Potentials and Risk (break-even) calculations for a given business and services operation 16 M1 – Identify and Apply appropriate Strategies, 17 M2 – Select/design and Apply appropriate Strategies 17 M3 – Present and communicate a ...
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Awesome! Perfect study aid.

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