PRINCIPLE OF FINANCE & ACCOUNTING IN TOURISM HOSPITALITY (4 Credits)

Learning Outcomes:

On successful completion of this course, students will be able to: Define the nature and purpose of accounting; Explain the nature and purpose of basic financial statements; Demonstrate the basic elements of financial statements; Formulate the main tools of accounting used for decision making purposes; Analyze the basic concept of costing and pricing.

Topics:

1. Introduction to Accounting and Finance;
2. Application and Exercises on Basic Accounting;
3. Basic Financial Statements – Income Statements;
4. Application and Exercises on Income Statements;
5. Basic Financial Statements – Balance Sheet;
6. Application and Exercises on Balance Sheet;
7. Basic Financial Statements – Statement of Cash Flows;
8. Application and Exercises on Statement of Cash Flows;
9. Managing Cash and Accounts Receivables;
10. Application and Exercises on Managing Cash and Accounts Receivables;
11. Managing Accounts Payable;
12. Application and Exercises on Managing Accounts Payable;
13. Budgeting and Cost Control;
14. Application and Exercises on Budgeting and Cost Control;
15. Profitable Pricing;
16. Application and Exercises on Profitable Pricing;
17. Assessing Actual Performance;
18. Application and Exercises on Assessing Actual Performance;
19. Other Finance and accounting issues – Taxation;
20. Application and Exercises on Taxation;
21. Other Finance and accounting issues – Leasing;
22. Application and Exercises on Leasing;
23. Other Finance and accounting issues – Capital Budgeting;
24. Application and Exercises on Capital Budgeting;
25. Planning for the Profitable Restaurant;
26. Application and Exercises on Profitable Restaurant.