BCZJ5: Investigate How to Manage Finance and Record Transactions to Minimize Costs: HND in Hospitality Management Coursework, ICTM, UK

HND Assignment Brief:

Program title: Pearson BTEC HND Hospitality Management (RFQ Level 5)

Assignment parts & titles:

1. Managing Finance and Transactions
2. Managing HR Life Cycle within Human Resource Strategy
3. Legislation and Ethics in Hospitality Industry
4. Hospitality Functions and Departments

Part 1: Managing Finance and Transactions

Scenario 1 (For LO 1)

After completing the HND in Hospitality Management you have just joined the Accounting Department of a hospitality organization. As an account assistant, you will investigate how transactions are recorded and trial balances are created using the double-entry method. This will also help understand how financial performance is monitored in a hospitality organization. In order to test your understanding, the Accounting Manager would like you to do the following activities under learning outcome 1:

Learning Outcome 1: Investigate how to manage finance and record transactions to minimize costs responsibly within the hospitality industry

Explain financial performance in a hospitality organization and investigate the principles of managing and monitoring financial performance. Apply the double-entry book-keeping system of debits and credits to record sales and purchase transactions in a general ledger using examples drawn from your chosen hospitality organization. With this, produce a basic trial balance applying the use of the balance of rule to complete the ledger.

Analyze sales and purchase transactions to compile a trial balance using double-entry book-keeping appropriately and effectively and record correctly transactions and produce an accurate trial balance by completing the balance of ledger accounts, checking that each transaction is recorded inline
with accepted accounting principles.

Part 2: Managing HR Life Cycle within Human Resource Strategy

Scenario 2 (for LO2)

As an HR consultant to the hospitality industry, you have been given a new responsibility to design and apply the stages of the Human Resource life cycle to a specific job role in hospitality by a UK-based hospitality organization. You may choose any appropriate job title as normally adopted and practiced in the hospitality industry for this assignment.

Learning Outcome 2: Assess how to manage the Human Resources life cycle within the context of an HR strategy.

Explain the Human Resource life cycle and review the different stages of the HR life cycle applied to a specific hospitality job role in your chosen organization, and their importance for retaining and developing talent. Develop a performance management plan for the hospitality job role chosen, applying techniques to resolve negative behavior and to overcome issues of staff retention.

Evaluate the importance of the HR life cycle in relation to strategic talent management and overcoming issues of staff retention. Make valid judgment and recommendations on how HR processes and documents can be improved for effective talent planning throughout the HR life cycle.

Part 3: Legislation and Ethics in Hospitality Industry

Scenario 3 (For LO3)

Choose an international hospitality organization operating from the UK and consider the UK and EU legal landscape to carry out this assignment.

Learning Outcome 3: Illustrate the potential impact of the legal and ethical considerations on a hospitality business

Explain how legal issues affect the hospitality industry and explore specific legislation that organisations in the hospitality industry have to adhere to and using specific examples drawn from your chosen organisation, illustrate how the company, employment, and contract law has a potential impact on business decision-making in the hospitality industry.

Using specific examples, examine the potential implications of regulations, legislation, and standards on decision-making in the hospitality industry and critically reflect on the potential impacts of regulations, legislation, and ethical principles on decision-making in the hospitality industry.

Part 4: Hospitality Functions and Departments

Scenario 4 (For LO4)

Consider yourself as the newly appointed assistant manager of a downtown hotel offering accommodation as well as catering services, including restaurants and bars. You are being asked by the General Manager to write a report on the roles of different departmental functions and the importance of coordination to achieve effectiveness in overall performance by carrying out the following:
Learning Outcome 4: Explain the importance of coordinating and integrating various functions of departments within the hospitality sector

Explore how different functional roles among the departments within the hospitality sector organization interrelate using your chosen hospitality organization. Explain the different methods of communication, coordination, and monitoring applied within a specific department of the chosen
hospitality organization to strengthen the value chain.

Analyze how different methods of communication, coordination, and monitoring within a specific department of a hospitality organization achieve organizational objectives and strengthens the value chain, and critically analyze different methods of communication, coordination, and monitoring within the specific department of a hospitality organization and make justified recommendations.

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