Handbook : Unit informationEdith Cowan University

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

• Unit Title

  Management of Hospitality Finance

• Unit Code

  HOS3211

• Year

  2017

• Enrolment Period

  2

• Version

  2

• Credit Points

  15

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Dr Ruth Diana SIBSON

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Description

This unit presents the fundamentals of financial accounting and managerial accounting in the context of the hospitality industry. The analysis of operating and financial reports as a basis for effective decision-making and sustainable business practice in the hospitality industry is emphasised.

Learning Outcomes

On completion of this unit students should be able to:

1. Analyse and interpret managerial and financial reports.
2. Apply basic accounting principles and procedures in a hospitality business.
3. Apply the basic principles of cash flow management to a hospitality business.
4. Demonstrate an appreciation for the use of computerised information systems in financial management.
5. Evaluate control systems used in a hospitality business.
6. Explain how the characteristics of hotel operations influence accounting and financial information systems.
7. Solve problems relating to investment decisions for such items as equipment, furniture purchases, and replacement.
8. Use the uniform system of accounts format in the preparation of a departmental income statement.

Unit Content

1. Capital budgeting.
2. The uniform system of accounts and responsibility accounting.
3. Cash flow management.
4. Influence of characteristics of hotel operations on accounting and financial information systems.
5. Pricing decisions in hospitality.
6. Control of costs of sales, labour cost, and cost of operating supplies.
7. Forecasting and operations budgeting.
8. Performance measures in hotels.
9. Analysis of the uniform system of accounts format of a hotel income statement.
10. Hotel financial information systems and the accounting function.
11. Analysis and interpretation of management and financial reports in the hospitality industry.
12. Principles and procedures of hotel revenue and expense accounting.

Additional Learning Experience Information

The mode of delivery for this unit is through weekly seminars. The teaching and learning approach in this unit is enhanced through in-class discussions of practical industry case studies, where the skills of working effectively with others, communicating effectively, critical appraisal and the ability to generate ideas are emphasised. This unit also provides for engaged teaching and learning where the lecturer provides students with industry relevant information and networking opportunities. The assessment items in this unit are assessed for quality academic and professional standards, including written communication (structure, language and conventions), critical analysis (depth of thought, development of argument, logical analysis and insight), depth and breadth of coverage, the ability to research effectively using both academic and contemporary sources and industry relevance.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

Core Reading(s)

• Guilding, C. (2009). Accounting essentials for hospitality managers. (2nd ed.). New York: Routledge.

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