School of Business & Law Assignment 2: Individual Report on Opera and industry trends This assignment is designed to assist students gain an understanding and appreciation of front office and housekeeping activities. This 3000 words report is based on your reflection through the usage of the Opera software in this unit where you have to reflect on the usefulness of Opera in relations to the Guest Cycle. The second part of the report requires students to analyse emerging technologies impacting the management of Rooms Division operations. Submission information Weighting This assignment accounts for 40% of the assessment in this unit. Date/Week Week 12, Friday 25th May, 2018 Time 5.30pm Format Submitted on Blackboard via Turnitin Learning outcome/s Completing this assignment will help you achieve the following learning outcome/s: N Calculate and interpret operating statistics and ratios used in evaluating the performance of a rooms-division. N Use a property management system in a simulated front office environment. N Analyse front office operations according to the guest cycle.
Task 1 JJ Restaurants Topic: Internal Control weaknesses Characters: Smith, Manager of restaurants Franchise Green, Assistant Manager of restaurant Carol, Staff Accountant of Franchise John, cashier There are 20 restaurants that are owned by the Franchise in a snidely spread geographic area. Smith is manager of all the locations of the restaurant franchise and Green, distantly related to him, is the Assistant Manager working solely at his location. John is a cashier and collects the cash from customers. At the end of the day, he adds up the cash receipts, reconciles his sales and hands over the cash to Green. Green prepares the bank deposit slip, deposits the cash in the bank, and keeps the bank receipts in the office safe to which he has the only key. Green also prepares the bank reconciliation statements and submits weekly sales reports to Carol. Of late, Green has volunteered quite frequently to speed up the cash collection on crowded days by working John’s station at the cash counter. Smith has not objected to this practice. During the past month Green has been seen driving a fancy new MBW to work and seen dining with friends at the town’s expensive restaurants. Carol finds from Green’s reports that sales have shown no change from previous weeks, even though there appears to be an obvious and significant increase in restaurant customers during the summer season. This puzzles Carol, who suspects this apparent discrepancy is being pocketed by Green. More puzzling, why hasn’t Smith also noticed this problem? You are required to analyze fraud using information given in above case study and suggest internal control measures that JJ Restaurants Franchise should implement to avoid any such fraud in tutu re. (10 Marks) Author: Hema Rao, CPA, DBA, Assistant Professor, School of Business, University of Wisconsin-Parkside Co-author: Charles Alworth, Assistant Professor of Accounting, Texas A&I University
Task 2 As we know that all accounts are prepared on the basis of the Accrual concept. In order to determine the correct e t.anings and loss and the true and fair financial position at the end of the year. Required: (2.5X2= 5 Marks) Explain the concept of prepayments. Give an example each for income received in advance and expenses paid in advance. 2 Explain the concept of accruals. Give an example each for accrued income and accrued expenses.
Task 3 Accounts receivable is the amount owed to a company resulting from the company providing goods and/or services on credit. The term trade receivable is also used in place of accounts receivable. The amount that the company is owed is recorded in its general ledger account entitled Accounts Receivable.
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