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Business Finances in Hospitality and Tourism
Business Finances in Hospitality and Tourism

Business Finances in Hospitality and Tourism - PowerPoint Presentation

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Business Finances in Hospitality and Tourism - Description

Practicum in Culinary Arts and Practicum in Hospitality Services Copyright Copyright Texas Education Agency 2015 These Materials are copyrighted and trademarked as the property of the Texas Education Agency TEA and may not be reproduced without the express written permission of TE ID: 540458 Download Presentation

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Presentation on theme: "Business Finances in Hospitality and Tourism"— Presentation transcript

Slide1

Business Finances in Hospitality and Tourism

Practicum in Culinary Arts and Practicum in Hospitality ServicesSlide2

Copyright

Copyright © Texas Education Agency, 2015.

These Materials are copyrighted © and trademarked ™ as the property of the Texas Education Agency (TEA) and may not be reproduced without the express written permission of TEA, except under the following conditions:

1)  Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from TEA.2)  Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only, without obtaining written permission of TEA.3)  Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way.4)  No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged.Private entities or persons located in Texas that are not Texas public school districts, Texas Education Service Centers, or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from TEA and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty.For information contact: Office of Copyrights, Trademarks, License Agreements, and Royalties, Texas Education Agency, 1701 N. Congress Ave., Austin, TX 78701-1494; phone 512-463-7004; email: copyrights@tea.state.tx.us.

Copyright © Texas Education Agency, 2015. All rights reserved.

2Slide3

FinancesThe way in which money is used and handled;

especially

: the way in which large amounts of money are used and handled by governments and companies

3Copyright © Texas Education Agency, 2015. All rights reserved.Slide4

Business TransactionsBusiness Charts and GraphsFinancial Services

4

Copyright © Texas Education Agency, 2015. All rights reserved.Slide5

Business Transactions

5

An

economic event that initiates the accounting process of recording it in a company's accounting systemCopyright © Texas Education Agency, 2015. All rights reserved.Slide6

Point-of-Sale SystemsA computerized system that can be used to:

Communicate between staff members

Create reports

Generate billsManage inventoryTake ordersTrack revenue6Copyright © Texas Education Agency, 2015. All rights reserved.Slide7

Property Management SystemsA computer software

system that can be

used for:

Accounting recordsElectronic key systemsGuest recordsInventoryPurchasing Receiving 7Copyright © Texas Education Agency, 2015. All rights reserved.Slide8

Business Charts and GraphsA visual representation to present data from evaluation activities

Used to:

Calculate expenses

Estimate profits for the businessForecast future trends8Copyright © Texas Education Agency, 2015. All rights reserved.Slide9

Workplace DocumentsCash flow projectionsInventory

Purchase orders

Tax forms

Time sheetsWork schedules9Copyright © Texas Education Agency, 2015. All rights reserved.Slide10

Property Management System

10

(click on link)

Copyright © Texas Education Agency, 2015. All rights reserved.Slide11

Using the POS (Point Of Sale) System

11

(click on link)

Copyright © Texas Education Agency, 2015. All rights reserved.Slide12

Let’s Review!

12

What do finances involve?

What type of software system do most foodservice operations use? What does it do?Why type of software system do most hotels use?What does it do?How are business charts and graphs used in foodservice industry?Copyright © Texas Education Agency, 2015. All rights reserved.Slide13

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Copyright © Texas Education Agency, 2015. All rights reserved.Slide14

References and ResourcesImages:

Shutterstock™ images. Photos obtained with subscription. (Slides 3, 4, 5, 6, 7, 8, 9, 10, 11, 13)

Textbooks:

Culinary essentials. (2010). Woodland Hills, CA: Glencoe/McGraw-Hill.Draz, J., & Koetke, C. (2014). The culinary professional. Tinley Park, IL: Goodheart-Willcox Company.Foundations of restaurant management & culinary arts. (2011). Boston, MA: Prentice Hall.Reynolds, J. S. & Chase, D. M. (2014). Hospitality services. Tinley Park, IL: Goodheart-Willcox Company.Websites:Small Business Administration Learning Center Online TrainingIntroduction to AccountingThis course is designed to provide an overview of accounting.https://www.sba.gov/tools/sba-learning-center/training/introduction-accountingYouTube™:Property Management SystemPatrick van der Wardt of

iTesso explains the Property Management System for the hospitality industry.https://www.youtube.com/watch?v=f-1DNK__25o&feature=youtu.be

Using

the POS (Point Of Sale) System

A brief tutorial of the basic functions of the POS system used in the food service department at Umpqua Community College. Topics include: clocking in/out, inputting a customers order, closing a ticket & printing a checkout (sales summary) report.

https://

youtu.be/rISyrnykrEw

Copyright © Texas Education Agency

, 2015.

All rights reserved.

14