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ACC00207 – Hospitality and Tourism Financial Management is a course, which is providing knowledge to the students who are willing to grow their career in the hospitality and tourism field. ACC00207 – Hospitality and Tourism Financial Management will help the students to develop the quality and the understanding among them about management field, which includes, planning, organising, staffing, directing and controlling and decision making of various things in hotels. The main aim is financial accounting and management accounting.
Certain topics which are included in ACC00207 – Hospitality and Tourism Financial Management, Financial Analysis, Product and service pricing, Internal controls, Hotel financial statements, Cash management, Management control, Operational budgeting variances, Feasibility studies, Investment decisions.
Following are the various units which are included in the ACC00207 – Hospitality and Tourism Financial Management course:
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
Following are the outcomes, which are generated after the learning of the course:
Students will be able to apply the financial accounting and various management principles in the hotel and tourism industry and various other industry too.
To identify the role played by management accounting in planning, directing, controlling and decision making in hotel and other service industries.
To do the analysis the relationship between accounting information and operations management.
Doing the feasibility study in hotels and in other industries too and identifying the impact of it.
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