Finance and budgetary control for the Hospitality industry
Unit summary
The purpose of this unit is to develop learners’ financial skills and to illustrate the importance of these skills to the Hospitality Industry. Learners will understand and be able to apply processes and procedures to decision-making techniques based on financial and budgetary conclusions and interpretation.
Unit details
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07 Retail and Commercial Enterprise
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07.4
Hospitality and Catering
Task-based controlled assessment
| Learning Outcome |
Assessment Criteria |
| 1 Understand the importance of budgets and budgetary control to the success of hospitality establishments |
a explain the importance of budgetary planning and control
b assess the value of planning and control to the success of hospitality establishments |
| 2 Be able to perform basic tax calculations |
a know the basic principles of tax calculations for hospitality establishments
b perform basic tax calculations for hospitality establishments |
| 3 Know how to control budgets in hospitality establishments |
a explain different methods of budgetary planning and control in hospitality related situations
b use the appropriate terminology relating to financial and management information |
| 4 Be able to use financial information to inform business decisions |
a produce recommendations for business decisions using reasoned arguments and evidence |