FHI-WORKBOOK
This is the mandatory document to be submitted on StPMoodle
ASSIGNMENT SUBMISSION FORM
This sheet must be submitted with your assignment. Failure to complete, sign and submit
this form along with your work will result in a delay in marking your work. Marking can
only be proceed provided the evidence of your declaration of originality of your work
attached to your coursework.
Title: Finance
College: St. Patrick’s College
Assessor Name
Qualification Title HND Hospitality Management
Unit Number & Unit Title 2 Finance in the Hospitality
Submission Deadline
Date of Submission
‘Plagiarism’ is presenting somebody else’s work as your own. It includes copying
information directly from the Web or books without referencing the material;
submitting joint coursework as an individual effort; copying another student’s
coursework; stealing coursework from another student and submitting it as your
own work.
Learner Declaration
By submitting this form and signing below, I declare that:
I am the author of this assignment and that any assistance I received in its
preparation is fully disclosed and acknowledged in this assignment
I also certify that this assignment was prepared by me specifically for this course
I certify that I have taken all reasonable precautions to make sure that my work
has not been copied by other students
I confirm that I have understood the College’s regulations on plagiarism
I confirm that research resources are fully acknowledged
Signature: ……………………………………… Date: ………………………………
, To be completed by Student
Learning Outcomes Assessment Task No Evidence
Criteria (Page
(please tick as Number)
appropriate)
LO1 Understand sources of funding 1.1 x 1 p.3,4,5
and income generation for business x
1.2 p.5,6
and services industries 2
2.1 x 3 p.7,8,9,10
LO2 Understand business in terms of 2.2 x 4 p.10,11
the elements of cost
LO3 Be able to evaluate business 3.1 x 5 p.12,13
accounts x
3.2 6 p.13,14
3.3 x 7 p.14,15,16,17
3.4 x 8 p.18,19,20,21
LO4 Be able to analyse business 4.1 x 9 p.22,23,24,25
,26
performance by the application of x
4.2 9 p.22,23,24,25
ratios ,26
L05 Be able to apply the concept of 5.1 x 3 p.7,8,9,10
marginal costing 5.2 x 10 p.27,28
5.3 x 11 p.29,30,31,32
,33
Assignment- Portfolio
, Scenario
You are planning to start up a catering business of your own. You intend to start running your
business six months from now. It requires you to plan ahead at least for a year in order to
meet your objective.
In order to assess your planning and check the level of understanding you possess, to own
and run a business, you need to complete the following tasks. Please provide as realistic
answer as possible with specific examples wherever possible.
There are 11 tasks in total to be completed for the assessment.
Task 1: Review sources of funding available to business and services industries. -(LO1:1.1,
D1)
You intend to supply your services to larger events such as conferences and other larger
events. You need £100000 to buy equipment and pay in advance for the renting. You have
managed to generate £10000 from your personal saving
Suggest 2-4 other ways through which you can generate the remaining amount £90000 for
your business start-up. Give justifications for each of the sources selected suggesting their
advantages and disadvantages. Word count circa 150-250
To achieve D1, various sources of finance identified are well justified with good reasoning.
The three ways to generate the funding are:
1. Crowdfunding
2. Credit card
3. Start- up loan
Crowdfunding is way on rise up money through social media online by a large group of
people. for this, I need to create a well-detailed project plan. Then, I have to write what is my
budget and set a realistic funding target. For to be successful on gain this loan, I need to be
very clear about how much money I need and where it is going to go. After, I need to be able
to set up my business and start my campaign. In the end, I must keep in touch with the
investors and tell them on how the business is developing.
Advantages
• It is a quick method to boost funding without pay any fees in advance.
Disadvantages
• If the project got unsuccessful, the business and the guarantor might lose their
, reputation.
• If a patent or copyright do not protect the project business idea, there is a risk that
someone would copy the same project and pass of as one’s own.
Another loan which I would find confident to apply is a credit card.
A credit card is an amount of money that is possible to borrow by using a credit card.
To apply for credit card loan, require good or excellent credit (Lewis, n. d.).
Advantages
• Often credit card organizations provide a bonus on buying some items.
Disadvantages
Initially, the cheap rates can be appealing, but when the period of grace expires, the
rate of interest increases drastically to the owner account Lewis, n. d.).
Another loan I would apply for is a start-up loan. I chose start-up loan because the interest
rate is not very high.
Start-up loan is a UK program government loan that offers a substantial financial support
for little companies with enough upfront capital to start their business (start-up loans, n. d.).
To get a start-up loan, I first need to apply for registration form; than an adviser will support
me with the application on creating a business plan, cash flow forecast, and personal
survival budget.
Advantages
• Start off business get a reduction in tax by taking loans from the government institution.
Disadvantages
• The government institution needs to make sure that the person who asks for the loan
qualifies for it. The government needs to make a research on the credit score of the
borrower. This kind of research may take a long time
• start-up loans approve the loan towards something pledged as security in case the
businessperson is enabled to pay back. Usually, it is the borrower property (start-up loans, n.
d.).
Conclusion:
Crowdfunding=50,000
Start-up loans=25,000
This is the mandatory document to be submitted on StPMoodle
ASSIGNMENT SUBMISSION FORM
This sheet must be submitted with your assignment. Failure to complete, sign and submit
this form along with your work will result in a delay in marking your work. Marking can
only be proceed provided the evidence of your declaration of originality of your work
attached to your coursework.
Title: Finance
College: St. Patrick’s College
Assessor Name
Qualification Title HND Hospitality Management
Unit Number & Unit Title 2 Finance in the Hospitality
Submission Deadline
Date of Submission
‘Plagiarism’ is presenting somebody else’s work as your own. It includes copying
information directly from the Web or books without referencing the material;
submitting joint coursework as an individual effort; copying another student’s
coursework; stealing coursework from another student and submitting it as your
own work.
Learner Declaration
By submitting this form and signing below, I declare that:
I am the author of this assignment and that any assistance I received in its
preparation is fully disclosed and acknowledged in this assignment
I also certify that this assignment was prepared by me specifically for this course
I certify that I have taken all reasonable precautions to make sure that my work
has not been copied by other students
I confirm that I have understood the College’s regulations on plagiarism
I confirm that research resources are fully acknowledged
Signature: ……………………………………… Date: ………………………………
, To be completed by Student
Learning Outcomes Assessment Task No Evidence
Criteria (Page
(please tick as Number)
appropriate)
LO1 Understand sources of funding 1.1 x 1 p.3,4,5
and income generation for business x
1.2 p.5,6
and services industries 2
2.1 x 3 p.7,8,9,10
LO2 Understand business in terms of 2.2 x 4 p.10,11
the elements of cost
LO3 Be able to evaluate business 3.1 x 5 p.12,13
accounts x
3.2 6 p.13,14
3.3 x 7 p.14,15,16,17
3.4 x 8 p.18,19,20,21
LO4 Be able to analyse business 4.1 x 9 p.22,23,24,25
,26
performance by the application of x
4.2 9 p.22,23,24,25
ratios ,26
L05 Be able to apply the concept of 5.1 x 3 p.7,8,9,10
marginal costing 5.2 x 10 p.27,28
5.3 x 11 p.29,30,31,32
,33
Assignment- Portfolio
, Scenario
You are planning to start up a catering business of your own. You intend to start running your
business six months from now. It requires you to plan ahead at least for a year in order to
meet your objective.
In order to assess your planning and check the level of understanding you possess, to own
and run a business, you need to complete the following tasks. Please provide as realistic
answer as possible with specific examples wherever possible.
There are 11 tasks in total to be completed for the assessment.
Task 1: Review sources of funding available to business and services industries. -(LO1:1.1,
D1)
You intend to supply your services to larger events such as conferences and other larger
events. You need £100000 to buy equipment and pay in advance for the renting. You have
managed to generate £10000 from your personal saving
Suggest 2-4 other ways through which you can generate the remaining amount £90000 for
your business start-up. Give justifications for each of the sources selected suggesting their
advantages and disadvantages. Word count circa 150-250
To achieve D1, various sources of finance identified are well justified with good reasoning.
The three ways to generate the funding are:
1. Crowdfunding
2. Credit card
3. Start- up loan
Crowdfunding is way on rise up money through social media online by a large group of
people. for this, I need to create a well-detailed project plan. Then, I have to write what is my
budget and set a realistic funding target. For to be successful on gain this loan, I need to be
very clear about how much money I need and where it is going to go. After, I need to be able
to set up my business and start my campaign. In the end, I must keep in touch with the
investors and tell them on how the business is developing.
Advantages
• It is a quick method to boost funding without pay any fees in advance.
Disadvantages
• If the project got unsuccessful, the business and the guarantor might lose their
, reputation.
• If a patent or copyright do not protect the project business idea, there is a risk that
someone would copy the same project and pass of as one’s own.
Another loan which I would find confident to apply is a credit card.
A credit card is an amount of money that is possible to borrow by using a credit card.
To apply for credit card loan, require good or excellent credit (Lewis, n. d.).
Advantages
• Often credit card organizations provide a bonus on buying some items.
Disadvantages
Initially, the cheap rates can be appealing, but when the period of grace expires, the
rate of interest increases drastically to the owner account Lewis, n. d.).
Another loan I would apply for is a start-up loan. I chose start-up loan because the interest
rate is not very high.
Start-up loan is a UK program government loan that offers a substantial financial support
for little companies with enough upfront capital to start their business (start-up loans, n. d.).
To get a start-up loan, I first need to apply for registration form; than an adviser will support
me with the application on creating a business plan, cash flow forecast, and personal
survival budget.
Advantages
• Start off business get a reduction in tax by taking loans from the government institution.
Disadvantages
• The government institution needs to make sure that the person who asks for the loan
qualifies for it. The government needs to make a research on the credit score of the
borrower. This kind of research may take a long time
• start-up loans approve the loan towards something pledged as security in case the
businessperson is enabled to pay back. Usually, it is the borrower property (start-up loans, n.
d.).
Conclusion:
Crowdfunding=50,000
Start-up loans=25,000
