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Unit of Study ACC00208 - Tourism and Hotel Financial Management (2015)

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Unit Snapshot

  • Enrolment information

    N/A

Unit description

Using seminars and industry specific cases, this unit introduces students to financial information that is used in the planning and decision-making processes, and the use of decision making tools which allow tourism and hotel managers to achieve their key performance targets and to ensure congruence with tourism and hotel corporate objectives.

Unit content

  1. Key components of the balance sheet and income statement
  2. Financial health through ratio analysis
  3. Understanding cash flows and cash budgets
  4. Introduction to managing tourism and hotel operational costs
  5. Estimating hotel start –up operational profit (bottom-up pricing)
  6. Understanding budget variances
  7. Use of tourism and hotel labour, material and sales variances to improve profit goals
  8. Using revenue & yield analysis to address key budget variances within hotel sector organisations
  9. Understanding price strategies and tourism & hospitality sensitivities to changing consumer demand
  10. Tourism and hotel case studies supporting revenue and yield analysis
  11. Introduction to feasibility studies – focus on hotel room demand projections
  12. Capital investment decisions linking to feasibility studies

Availabilities

Not currently available in 2015

Learning outcomes and graduate attributes

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:

GA1: Intellectual rigour, GA2: Creativity, GA3: Ethical practice, GA4: Knowledge of a discipline, GA5: Lifelong learning, GA6: Communication and social skills, GA7: Cultural competence
Learning outcome count Learning outcome description GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 discuss how financial information is used for communication both within the tourism and/or hotel organisation and with external parties
2 evaluate, read, understand and interpret the main parts of a hotel company's published financial statements and equally interpret internal financial information of the tourism and/or hotel business
3 demonstrate analytical thinking, good writing ability, as well as an ability to work with and to present basic financial data to non-accounting hotel executives
4 identify what cost information is, how it is determined and used in tourism and hotel organisations to make timely decisions to control and/or improve operational performance and achieve key indicators

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

  1. discuss how financial information is used for communication both within the tourism and/or hotel organisation and with external parties
    • GA4:
  2. evaluate, read, understand and interpret the main parts of a hotel company's published financial statements and equally interpret internal financial information of the tourism and/or hotel business
    • GA1:
    • GA4:
  3. demonstrate analytical thinking, good writing ability, as well as an ability to work with and to present basic financial data to non-accounting hotel executives
    • GA4:
    • GA6:
  4. identify what cost information is, how it is determined and used in tourism and hotel organisations to make timely decisions to control and/or improve operational performance and achieve key indicators
    • GA4:
    • GA6: