BUSINESS FINANCES IN

HOSPITALITY AND TOURISM

Practicum in Culinary Arts and Practicum in Hospitality Services
 Copyright
2

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.

 Finances
3

The 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

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

4 Financial Services
Business Transactions
Business Charts and Graphs

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

 Business Transactions
5

An economic event that initiates the accounting process of recording it in

a company's accounting system

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

 Point-of-Sale Systems
6

 A computerized system that can

be used to:
 Communicate between staff
members
 Create reports

 Generate bills

 Manage inventory

 Take orders

 Track revenue

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

 Property Management Systems
7

 A computer software system

that can be used for:
 Accounting records
 Electronic key systems

 Guest records

 Inventory

 Purchasing

 Receiving

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

 Business Charts and Graphs
8

 A visual representation to
present data from evaluation
activities
 Used to:
 Calculate expenses
 Estimate profits for the business

 Forecast future trends

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

 Workplace Documents
9

 Cash flow projections

 Inventory
 Purchase orders
 Tax forms
 Time sheets
 Work schedules

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

 Property Management System
(click on link)
10

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

 Using the POS (Point Of Sale) System
(click on link)
11

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

 Let’s Review!
12

1. What do finances involve?

2. What type of software system do most foodservice operations use?
What does it do?
3. Why type of software system do most hotels use?
What does it do?
4. How are business charts and graphs used in foodservice industry?

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

13
Copyright © Texas Education Agency, 2015. All rights reserved.
 References and Resources
14

Images:
 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 Training
Introduction to Accounting
This course is designed to provide an overview of accounting.
https://www.sba.gov/tools/sba-learning-center/training/introduction-accounting
YouTube™:
 Property Management System
Patrick 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.