A Sample on

Finance in
Hospitality

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Table of Contents
Introduction
TASK 1
a) Sources of funding available for opening new restaurant
b) Sources of income generation
Task 2
A: Evaluation of cost and gross profit
B: Evaluation of business methods
Task 3
A: Source and structure of trial balance
B: Evaluation of business accounts
C: Purpose of financial budgets and the process suitable for the budgetary
control
D: Variance analysis of budgeted and actual figures
Task 4
A: Computation of financial ratios
B: Recommendation for City Brasserie Ltd for making improvement in their
financial management strategies
Task 5
A: Categorization of cost using examples from City Brasserie Ltd
B: Calculation of contribution and relationship between cost, profit and
volume
C: Recommendation of tickets to be sold in order to earn desired profit
Conclusion
References

Index of Tables

Table 1: Format of trial balance
Table 2: Variance analysis of budgeted and actual figures of City Brasserie
Ltd
Table 3: Computation of financial ratios of City Brasserie Ltd

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INTRODUCTION
Finance is regarded as one of the most significant resource of the
business without which it is not possible for company to operate efficiently in
the market. Further, hospitality sector delivers large number of services to
its target market due to which its financial requirement is high. Companies
operating in this sector have to consider different sources through which
their financial needs can be satisfied in appropriate manner. Apart from this,
different business accounts are prepared so as to know overall performance
of firm such as balance sheet, income statement etc. (Shim and Siegel,
2008). The present report being prepared is based on City Brasserie Ltd
where at present business is planning to open new restaurant in London.
Therefore, it is required to identify the appropriate source of finance for
business. Various tasks have been covered in the study which involves
sources of income generation, elements of cost, source and structure of trial
balance, usefulness of balance sheet, income statement etc.

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SAMPLE DISSERTATION ON

FINANCE IN HOSPITALITY

FOR COMPLETE HOSPITALITY

DISSERTATION HELP

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TASK 1

a) Sources of funding available for opening new restaurant

Different sources of finance are available with city Brasserie Ltd which
business can consider for satisfying its overall need. At present business is
planning to open a new restaurant near the strand in central London.
Therefore, to accomplish this overall aim it is required for business to adopt
appropriate source of finance (Hussey and Ong, 2005). Opening up of new
restaurant in the market of UK requires high investment and due to this basic
reason company has to select source which is cheap and in turn large
amount of funds can be easily obtained by business. Following are the
sources of finance which are as follows:

Debt financing: It is regarded as the act of raising business finance
by borrowing money. Business can consider this source by taking loan
from the financial institutions present in the market. Further, it can
enhance liquidity position of the business where expansion can also
take place easily. Main advantage of using debt financing as a source
is that it leads to effective utilization of resources of firm as business
has to pay some amount in the form of interest due to which it
becomes necessary to fully utilize the resources. Tax advantage is also
one of the main benefits of considering this source where business can
obtain tax advantage as interest is deductible for income tax purpose.
Simple loan repayment is also one of the advantages of this source
where lenders are only entitled to loan repayment and interest on loan
(Keller, 2013). Further, future impact forecasting is also one of the
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main advantage of this source where principal repayment along with
interest are based on fixed percentage and it is possible to forecast.
On the other hand this source has some disadvantage which are
regular payments of installment is required and this leads to rise in
expenditure level of the company. Further, many times it is possible
that financial institutions may impose penalty for late payment and
this may have adverse impact on city Brasserie Ltd. Apart from this
failure to make payment on loan can have negative impact on credit
rating of the organization. Therefore, in this way these are some of the
main disadvantage of this source which company has to consider.

Equity: For obtaining large amount of funds it is possible for city
Brasserie Ltd to issue equity shares in the market. Further, through
this source funds can be obtained from investors who may purchase
shares of company (Cox and Fardon, 2005). Main advantage of this
source is that business does not have to keep cost of debt financing,
right business angels bring valuable skills, investors are attracted to
provide follow up funding etc. On the other hand some disadvantage of
this source is that equity financing is demanding, costly and time
consuming.

Retained earnings: It is also regarded as one of the most effective
source of finance where business can utilize its savings for satisfying
its expansion needs. Further, main advantage of this source is that
large amount of funds can be obtained easily and it is not required to
bear any cost (Keller, 2013). On the other hand it reduces overall
savings of firm which is major drawback.

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Out of all these three sources most appropriate one for city Brasserie
Ltd is equity financing where organization can easily issue equity shares in
the market and amount for expansion can be obtained easily. Main reason
behind not recommending debt financing is that business has already taken
loan from bank of large amount and this source will not be appropriate for
firm as interest cost will rise. Further, retained earnings as a source cannot
be considered by business as large amount is required for investment.

b) Sources of income generation

Different sources of income are present which City Brasserie Ltd which
business can consider for enhancing its overall profitability level. Such
sources are:

Cookery classes: Chefs working in City Brasserie Ltd can organize
cookery classes and can charged fess from individual for the same.
This will be appropriate source of income for company and people can
learn about preparing different dishes etc. This services can be
provided by the ideal labour of the restaurant in the morning time in
which there are fewer customers in restaurant (Portz and Lere, 2010).
In this manner, they will be able to make optimum utilization of
available resources.

Merchandising with cookbooks and kitchen items: For City
Brasserie Ltd it is possible to introduce cookbooks and kitchen items.
Further, same can be offered to local public so that they can know
about the ways through which different dishes can be prepared.
Therefore, this will also be appropriate source of income. City
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Brasserie Ltd is reputed French restaurant with good market image. On
the basis of their goodwill they can sell their cooking recipes to the
customers (Ojha, Gianiodis and Manuj, 2013). For this activity, they do
not required to incur heavy expenses but they can earn good profits
from this source.

Events catering: Company can take catering order of different events
such as party, marriage etc and income can be earned by charging
fees from the same. For this source, they can introduce different
themes for their customers in order to make their experience more
memorable. They can also provide their services to the commercial
entities by getting associated with them.

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SAMPLE DISSERTATION ON

FINANCE IN HOSPITALITY

FOR COMPLETE HOSPITALITY

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TASK 2

A: Evaluation of cost and gross profit
Elements of costs including labour, consumables and overheads
Elements of cost can be defined as the expenditure occurred by
business entity for the manufacturing process of the cost centres (Curzon
and Wingler, 2013). In the context to the City Brasserie Ltd, description of
cost components is as follows:
Materials: Materials cost are involved when finished goods are ready
to sell to the consumers. Materials can be of raw materials and finished
materials. Example of material in City Brasserie Ltd crockery, knives,
silverware etc.
Consumables: Consumables can be termed as the goods which are
consumed by the consumers (Elearn, 2013). It can be used for
consumption either to spent or wasted. These includes napkins, cutlery,
food and beverages items.
Labor: Labor is consists of human resources who was charged for the
work in the industry. For example: management and all the staff
members.
Overhead Costs: It is the type of expenses which does not include
labour, materials and other expenses. It is also known as indirect cost.
It includes electricity costs, telephone bills, rent, taxes etc.

Increase in gross profit percentages by changing selling prices
For the increase in the gross profit percentage, one should consider
their market price point which should be fair, every expenses of the business
and menu item cost. One can increase their profit by changing selling price

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of their cost or product. Gross profit can be obtained from cost of goods
minus revenue (Keller, 2013). The difference between cost of goods sold and
revenues is known as gross profit. This aspect shows that increase in selling
price will make increase in gross profits.

B: Evaluation of business methods
Stock taking for control and management for City Brasserie Ltd
Stock taking can be defined as procedure for the recording amount of
stock held by business. It is an effective method for the management of
inventory in the business. This method provides accurate information
regarding recording of inventory by which management can make decisions
regarding order quantity and duration. In addition to this, company will be
able to minimize their storage and carrying cost.
Stock taking also assists in reduction of abnormal cost by making
proper inventory management. Further, by making use of this method the
movement of stores items can be watched more closely by the store auditor
(Gitman, 2013). With this approach, chances of obsolescence buying will be
reduced. In addition to this final accounts can be quickly prepared.
Appropriate methods for security of cash
Cash can be managed by various techniques such as working capital
management. Cash security issues are common in business entity. City
Brasserie Ltd can appoint different individuals for the purpose cash handling
and cash recording. In this manner they can evaluate physical balance with
the accounting records in order to prevent embezzlement (Shahwan, 2008).
Further, audits can be conducted in timely manner for the monitoring in
business.

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SAMPLE DISSERTATION ON

FINANCE IN HOSPITALITY

FOR COMPLETE HOSPITALITY

DISSERTATION HELP

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TASK 3

A: Source and structure of trial balance
Trial balance can be defined as statement summarizing accounting
balances of the ledgers. This statement is prepared to ensure arithmetical
accuracy of the accounting reports. Trial balance can be prepared by two
methods i.e. traditional method and modern method. This statement is base
for the preparation of financial statements. Source of information of
preparation for trial balance is balances of ledger accounts (Financial ratio
and Analysis, 2013). Structure of trial balance is comprises of following
balances:
Fixed Assets, Current Assets
Long term and Current liabilities
Capital of Owners
Revenue Items
Expenses
Table 1: Format of trial balance
Account Name Debit Credit
Fixed and current asset
Accounts receivable £0.00
Inventory £0.00
Investments £0.00
Organization expense £0.00
Vehicles £0.00
Accumulated depreciation -
vehicles £0.00
Land £0.00
Goodwill £0.00
Long term and Current
liabilities
Accounts payable £0.00
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Notes payable £0.00
Capital of owners £0.00
Revenues and expenses
Sales £0.00
Revenues £0.00
Cost of goods sold -
materials £0.00
Depreciation £0.00
Dues and subscriptions £0.00
Interest expense £0.00
Maintenance £0.00
Miscellaneous £0.00
Income taxes £0.00

Totals £0.00 £0.00

Trial balance assist business organization is identification and
rectification of errors. However, it is not able to identify various errors such
as error of concept and error of omission of accounting entry.

B: Evaluation of business accounts
Significance of balance sheet and income statement of limited
company
Income statement and position statement are crucial financial
documents of the limited company. Income statement shows expenditure
and revenue occurred during the accounting year. By considering these
values, profit for the year is computed by the entity through their operational
activities (Sources of finance, 2013). On the basis of this statement,
profitability ratios can be computed in order to determine their operational
efficiency. Further, position statement shows financial position of the
business on the particular accounting date in form of assets, liabilities and
capital.

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Use of straight line depreciation method for the purpose of
adjustment
Straight line method is the easiest way for the computation of
depreciation in an accounting period. Formula for straight line depreciation
method is as follows:
(Initial cost – Salvage value) / no. of years used
Advantage of this method is that it is easy to compute and it can be
applied to all the long term assets of business. This method is widely
acceptable for accounting of fixed assets and depreciation (Weil, 2012).
However, this method does not provide accurate reflection of difference in
usage of asset from one period to the another. In addition to this, SLM does
not necessarily match cost with the revenues in various types of long term
assets. This method is not appropriate for the assets with rapid developing
technology.
Importance of account notes
Account notes are significant for user as it provides descriptive
information of the financial figures used in financial statements of the limited
company (Hussey and Ong, 2005). These notes provide complete
understanding of specific terms and financial conditions of the company.

C: Purpose of financial budgets and the process suitable for the budgetary
control
Purpose of financial budgets
Budgets are prepared by business organizations in order to forecast
future activities. On the basis of this forecasting, resources are allocated by
the management in order to make its effective utilization. Financial budgets
also assist in management of inflow and outflow of cash to maintain proper

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liquidity and solvency in business. In addition to this, it also mitigates future
risk by taking pro-active steps in business.
Process for budgetary control
Budgetary control can be defined as technique for the comparison of
actual results with the budgeted results (Winand and et. al, 2012). On the
basis of this comparison variances are computed in order to make viable
modification by the business. Planning by the management of City Brasserie
Ltd cannot get successful if it is not supported by efficient and effective
system of control. Process of budgetary control is inclusive of preparation of
several budgets, comparison of actual results with the budgeted figures and
revision of budgets in order to make valuable changes in operational
activities. System of budgetary control is not rigid because company is
required to modify it with the changing circumstances.
D: Variance analysis of budgeted and actual figures
(i) Indicative for occurrence of favourable and adverse variance

Table 2: Variance analysis of budgeted and actual figures of City Brasserie
Ltd

Budgeted Actual Adverse or
Particulars Figures Figures Variance favourable
Sales £70,000.00 £65,000.00 -£5,000.00 Adverse
Cost of Goods Sold £15,000.00 £13,500.00 £1,500.00 Favourable
Gross Profit £55,000.00 £51,500.00 £3,500.00 Favourable
Labour Costs £15,000.00 £19,000.00 -£4,000.00 Adverse
Direct Expense
Costs £7,000.00 £6,500.00 £500.00 Favourable
Overhead Costs £8,000.00 £8,500.00 -£500.00 Adverse
Net Profit £25,000.00 £17,500.00 -£7,500.00 Adverse

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(ii) Justified suggestions for appropriate future management action
In accordance with the variance analysis, management of City
Brasserie Ltd is recommended to make appropriate forecast by considering
changing market trend and values. In addition to this, company is
recommended to render service as per demand in the market. In this manner,
company will be able to make optimum utilization of available resources in
order to enhance their profitability (Arnold, 2005). Company is also required
to enhance their efficiency to make reduction in their expenses and
abnormal wastage of the available resources. For this aspect, they can install
new plant and machinery in the business. With this approach they will be
able to enhance their production capacity to attain cost advantages. Further,
in order to determine demand in the market they are required to conduct
market survey.

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SAMPLE DISSERTATION ON

FINANCE IN HOSPITALITY

FOR COMPLETE HOSPITALITY

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TASK 4

A: Computation of financial ratios
Financial ratios are computed to analyse financial position of business
by considering profit and loss account and balance sheet. Ratio is a
numerical expression which shows relationship between two variables (Vice,
2013). Computation of financial ratios of City Brasserie Ltd is as follows:

Table 3: Computation of financial ratios of City Brasserie Ltd

Ratio and Formula Calculation Answer Interpretation

Current ratio of City Brasserie Ltd is
Current ratio less than ideal ratio i.e. 2:1. This aspect
(Current asset / current 154/146 1.05 shows that company had limited assets
liabilities) in order to meet out their current
obligation.
Quick Assets or Acid Test Similar to current ratio, quick ratio is
Ratio also less to the idea i.e. 1:1. This
(current asset – 154-51/146 0.71 aspect will reduce solvency of the
inventory) / current business and will create issues in
liabilities working capital management.
Return on Capital
Ratio of return on capital employed
Employed
154 + shows that company is earning good
Earnings Before Interest 0.84
16/203 profits on the capital through their
and Tax (EBIT) / Capital
operational activities.
Employed
Gross profit margin is measure of
Gross Profit Margin
500/920*100 54.35% trading profit of business in comparison
Gross profit / sales *100
to its sales. GP margin shows that City

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Brasserie Ltd is able to earn good
profits from trading activities.
Net profit margin shows that company
is able to earn profits after incurring
their direct and indirect expenses.
Net Profit Margin
103/920*100 11.20% Management of the City Brasserie Ltd
Net profit / sales *100
has excessive revenue in comparison
to their operating and non-operating
expenses.
Debtor collection period shows time in
Debtors Collection
which amount from debtor after credit
Period 36.5
92/920*365 sales is collected. Calculation shows
(Average Debtors / days
that City Brasserie Ltd recovers amount
Credit Sales) x 365
of credit sales in 37 days.
Creditor payment period shows the
Creditors Payment time period in which is required to pay
Period 45/(420+51) 34.87 due amount of credit purchase. In
(Average creditors / *365 days accordance with the calculation,
Credit purchases) x 365 management of City Brasserie Ltd is
required to pay this amount in 35 days.
Inventory or Stock Inventory or Stock Turnover Ratio
Turnover Ratio 8.24 shows time period in which inventory of
420 /51
(Cost of Goods Sold / time company is sold and replaced by the
Average Inventory) another inventory.
Debt equity ratio of City Brasserie Ltd
Debt-to-Equity Ratio is near to the ideal as debt is
425/150 2.83
(Debt / equity) approximately twice of the amount of
equity.

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B: Recommendation for City Brasserie Ltd for making improvement in their
financial management strategies
Liquidity risk : In accordance with the liquidity ratios of the company,
it can be noticed that company is having less ratio in comparison to
the ideal value. Management of City Brasserie Ltd is required to focus
on the enhancing quick and current ratio. For this aspect, they are
required to enhance cash sales and credit purchases (Ojha, Gianiodis,
and Manuj, 2013). For this aspect, they can provide discounting offer to
the customers in order to motivate them for the early payments.
Profitability: Profitability ratios of City Brasserie Ltd depicts that
management is able to earn sufficient profits from their operational
activities. In order to enhance their profits, they should manage their
operational expenses in an effective manner. Main expenditure of City
Brasserie Ltd is wages and salary i.e. £200000. Management of the
organization is required to do planning for making reduction in this
expense (Pratt, 2013). For this aspect, they can recruit seasonal
employees in order to pay as per the customers.
Leverage risk: Debt equity ratio of the company is higher than the
ideal ratio i.e. 2:1. Company should attempt to reduce their ratio for
the minimization of their financial burden. For this aspect,
management of City Brasserie Ltd is recommended to generate
financial source from the equity finance for the alteration of capital
structure (Hussey and Ong, 2005). With this policy they will be able to
make reduction in their financial cost as dividend to equity had direct
correlation with the profitability of organization.

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TASK 5

A: Categorization of cost using examples from City Brasserie Ltd
Cost can be defined as expenditure incurred by business organization
in order to attain the economic benefit. On the basis of nature, cost can be
bifurcated into following aspects:
Fixed cost
Fixed cost can be termed as expenses which does not variate with the
outcome to be produced or manufactured. Amount of fixed expense remains
same even if there is increase or decrease in number of customers. Example
of fixed cost in City Brasserie Ltd is rent, depreciation of equipment and
salary of staff (Significance of budgeting and recommendations to enhance
the budgeting process, 2010). Restaurant will be required to incur these
expenses irrespective of number of customers.
Variable cost
Expenses are considered as variable expenses if they are directly
proportionate to the production units. These expenses increase or decrease
with the change in units to be produced or services to be rendered. Example
of variable cost in City Brasserie Ltd is sales commission to the waiters and
food cost.
Semi variable cost
Expenses covered in category of semi variable cost has characteristics
of both fixed and variable cost. Some part of this expense is fixed and
remaining part is variable. Example of semi variable cost for City Brasserie
Ltd is water bill (Weil, 2012). Some amount in this bill fixed irrespective of
fact that restaurant is making use of water or not and variable part of this
expense is actual consumption of water.

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B: Calculation of contribution and relationship between cost, profit and
volume
Contribution is the amount showing difference of sales and variable
cost in the business. Computation of contribution as per the given business
information is as follows:
Calculation of contribution
Contribution per customer = Ticket price for the Champagne Holiday Dinner -
Variable cost per customer
= £80 - £30
= £50
Relationship between cost, profit and volume
Cost, volume and profits are directly connected with the one another.
With the increase in one variable another two variable will also be increase
and vice versa. However, increase in volume will make high increase in
profits but low increase in cost (Shahwan, 2008). It is because; after at
particular point company will only have to variable cost and the amount of
contribution will be profit of the business. In accordance with the given case
scenario with the increase in customers of Champagne Holiday Dinner cost
and profit will also be increased. However, net increase in profit will be
higher in comparison to the cost.

C: Recommendation of tickets to be sold in order to earn desired profit
Break-even point can be defined as situation in which business is able
to recover entire cost of the businesses. At this point, amount of sales is
equivalent to the amount of fixed and variable cost incurred by the business
organization. Break-even point plays vital role in making decision for the

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business. By considering this figure, organization can set their target to
attain the desired profit in an efficient manner.
Break-even point
Tickets to be sold to attain BEP = Fixed cost / contribution per unit
= £500 / £50
= 10 tickets
Tickets to be sold to make £5000
Profit
Tickets to be sold to attain desired profit = Fixed cost + desired profit /
contribution per unit
= £500 + £5000 / £50
= 110 tickets
By considering the above calculation it can be said that company is
required to sell minimum ten tickets in order to recover all the costs incurred
by them. Further, in order to earn profit of £5000 management of the City
Brasserie Ltd is required to sell 110 tickets. At this point they will be able to
earn desired profit.

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CONCLUSION
After conducting the entire study it has been found that most
appropriate source of finance for City Brasserie ltd is equity financing
through which it is possible for company to attract large number of investors
and expansion amount can be easily obtained through this. Further, the
income statement along with balance sheet of limited company is high
beneficial as it supports in knowing overall performance of the firm. Further,
profitability ratios can be computed easily and it shows whether all the key
resources of business are utilized efficiently or not. Apart from this account
notes are also important which provides information regarding the financial
figures and supports in understanding the financial condition of the
enterprise. Main purpose of financial budgets is to forecast future activities
where with the help of forecasting business can easily allocate resource in its
major activities.

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REFERENCES
Books and journals

● Arnold, G., 2005. Corporate Financial Management. 3rd ed. Financial
Times/Prentice Hall.
● Cox, D. and Fardon, M., 2005. Management of finance. Worcester:
Osborne Books Limited.
● Curzon, E. And Wingler, J., 2013. SEC adopts new financial responsibility
and reporting requirements for US-registered broker-dealers. Journal of
Investment Compliance.
● Elearn, 2013. Financial Management Revised Edition.Routledge
publication.
● Gitman, J. L., 2013. Personal Financial Planning. Cengage Learning
publication.
● Hussey, R. and Ong, A., 2005. A substantive model of the annual financial
reporting exercise in a non-market corporate. Qualitative Research in
Accounting & Management.
● Hussey, R. and Ong, A., 2005. A substantive model of the annual financial
reporting exercise in a non-market corporate. Qualitative Research in
Accounting & Management.

Online

● Financial ratio and Analysis., 2013. Available through:
<http://accountingexplained.com/financial/ratios/>.
● Significance of budgeting and recommendations to enhance the
budgeting process, 2010. [Online]. Available through:
<http://sheltonstella.wordpress.com/2010/04/09/221/>.
● Sources of finance. 2013. [Online]. Available through:
<http://thesis4all.com/2013/05/sources-of-long-term-and-short-term-
financing-of-business/>.

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