Unit of Study ACCT2005 Hospitality and Tourism Financial Management (2024)

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Unit Snapshot

Unit type

UG Coursework Unit
Credit points

12
Faculty & College

Educational Partnerships Board
Placement

No

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

Availabilities

Not currently available in 2024

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.

On completion of this unit, students should be able to:

explain the uses of, and be able to apply, management and financial accounting information in the hotel and other service industry settings

recognise the role of management accounting in decision making, planning and the control of hotel and other service industry operations

analyse the interaction of accounting information and analyses with operations management and strategic corporate plans

explain the use and application of management accounting information in operations management and marketing decisions (feasibility studies), especially in hotels and other service industries.

Fee information

Domestic

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