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

  2021

• Enrolment Period

  1

• Version

  3

• Credit Points

  15

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Dr Gregory Brian WILLSON

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. Apply basic accounting principles and procedures in a hospitality business.
2. Analyse and interpret managerial and financial reports, including pricing, cost and profit relationships.
3. Evaluate internal control systems used in a hospitality business.
4. Apply the basic principles of budgeting, variance analysis and cash flow management to a hospitality business.
5. Critically evaluate the feasibility and performance of a hospitality business using appropriate theories, tools and analyses, and provide justified recommendations to address issues.

Unit Content

1. Accounting fundamentals.
2. Analysis and interpretation of management and financial reports in the hospitality industry.
3. Income Statements and Balance Sheets.
4. The uniform system of accounts and responsibility accounting.
5. Feasibility studies in hospitality businesses.
6. Control of costs of sales, labour cost, and cost of operating supplies.
7. Influence of characteristics of hotel operations on accounting and financial information systems.
8. Principles and procedures of pricing and revenue management.
9. Performance measures in hotels and other hospitality businesses.
10. Forecasting and operations budgeting.
11. Cash flow management.
12. Hotel financial information systems and the accounting function.

Additional Learning Experience Information

The on-campus mode of delivery for this unit is through a weekly lecture and tutorial; the online mode of delivery requires regular online access via Blackboard to a weekly schedule of activities, which includes podcasts of the lecture slides. The teaching and learning approach in this unit is enhanced through in-class and online discussions and completion of practical, industry relevant exercises, where the skills of communicating effectively, critical appraisal and the ability to generate ideas are emphasised. 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 School Progression Panel.