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Finance in Hospitality

Essay by   •  September 24, 2015  •  Coursework  •  18,123 Words (73 Pages)  •  794 Views

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                                 Table of Contents

No                                               Content                                                            Page

Chapter 1…….......................... ....................................................................................5                            

1.0.             Sources of Funding available to Business and Services Industries with

                The Contributions Made by Various Methods of Generating Income for

                A Large Chain of Restaurants. Introduction…………………............................5

1.1.              Sources of Funding available to Business and Services Industries..................5

        A.        The Internal Funding……………………………………………......................6

            1.        Owner’s Own Money…………………………………………. .......................6

            2.        Family and Friends:……………………………………………………….........7

            3.       Retained Earnings:…………………………………………………………….8

      B.                  The External Funding:……………………………………...............................8

          1.          Banks:……………………………………………………………......................8

            a)        Loan:……………………………………………………………. ......................8

            b)        Credit Cards:…………………………………………………….......................8

            c)        Overdraft:……………………………………………………...................... …..8

         2.        Trade Credits:………………………………………………….........................9

         3.        Crowd Funding:…………………………………………………....................10

         4.        Business Angels:………………………………………………......................10

         5.        Venture Capital………………………………………………….....................10

1.2:         The Contributions Made by Various Methods of Generating Income for

                A Large Chain of Restaurants…………………………………..........................11

      1.        Enhanced sale:…………………………………………………................................11

      2.        Cost Cutting:……………………………………………………................................12

      3.        Commission-based Business:…………………………………...............................12

      4.        Selling Spare Assets:……………………………………….....................................13

      5.        Letting/subletting:…………………………………………………............................13

1.2.1. Conclusion:…………………………………………………………….........................13

Chapter 2.………….....................................................................................................14

2.1. Elements of Cost, Gross Profit Percentages and Selling Prices    for Product and   Services: Marks & Spencer as Case Study………………………………….....................14

      A. Element of Cost…………………………………………………………....................14

      B. Gross Profit Percentages………………………………………………....................18

      C.        Selling Prices………………………………………………………….......................19

2.2 Methods of Controlling Stock and Cash in a Business and Services Environment..21

2.2.1 Stock or Inventory……………………………………………………………...............21

2.2.2. Inventory Management…………………………………………………….................21

        A. Economic Order Quantity (EOQ)…………………………………………..............21

        B. Reorder Point (ROP)…………………………………………………….................23

        C. System of Inventory Control…………………………………………….................24

        D. Stock-taking……………………………………………………………….................25

              i. First -In, First-Out (FIFO)………………………………………………..............25

              ii. Last-In, First Out (LIFO)………………………………………………...............25

         E. Physical Control of Stock and Cash……………………………………... ............25

         F. Importance of Cash………………………………………………………................26

         G. Cash Control………………………………………………………………...............27

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