PRINCIPLES OF TOURISM ACCOUNTING AND FINANCE (2 Credits)

Learning Outcomes:

On successful completion of this course, student will be able to: LO1 – identify overview of the nature of accounting; LO2 – explain financial accounting; LO3 – apply management accounting.

Topics:

1. Introduction: Hospitality decision-makers’ use of accounting;
2. Analysing transactions and preparing year-end financial statements;
3. Double-entry accounting;
4. Adjusting and closing entries;
5. Financial statement analysis;
6. Internal control;
7. Cost management issues;
8. Cost-volume-profit analysis;
9. Budgeting and responsibility accounting;
10. Flexible budgeting and variance analysis;
11. Performance measurement;
12. Cost information and pricing;
13. Working capital management.