Hospitality and Tourism Financial Management

Description

Unit description: Develops students' understanding of the use of financial and operating information in planning, control, evaluation and decision making in hotels. The focus is management accounting and financial accounting for hotels. The topics include management control, hotel financial statements, financial analysis, cash management, cost management, internal controls, product and services pricing, operational budgeting variances, investment decisions and feasibility studies. Unit content: Understanding hotel financial statements and control Topic 1 - Management control systems Topic 2 - Pricing decisions in hotels Topic 3 - Statement of cash flows Budget management Topic 4 - Cash management Topic 5 - Operations budgeting and inventory management (part 1) Topic 6 - Operations budgeting and variance analysis (part 2) Long-term planning and financing decisions Topic 7 - Investment decisions Topic 8 - Feasibility studies Learning outcomes: Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes . The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.