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MODULE DESCRIPTOR
Module Title
Financial Management
Reference CB3023 Version 1
Created May 2018 SCQF Level SCQF 9
Approved November 2018 SCQF Points 15
Amended ECTS Points 7.5

Aims of Module
To develop students' financial knowledge and skills to be able to evaluate financial data and make informed decisions on revenue management, cot-control and investments in the hotel sector.

Learning Outcomes for Module
On completion of this module, students are expected to be able to:
1 Evaluate accounts statements, cash flow and profit centers for individual hotel departments and for hotel units.
2 Calculate, assess and propose sustainable hotel facilities investments.
3 Assess the factors affecting financial health, investment decisions and revenue opportunities for a variety of hospitality organisations.

Indicative Module Content
Introduction to financial statements and financial management and its application in the hotel sector. The business environment and impact on corporate financial health. Financial analysis; comparative horizontal analysis; common-size vertical analysis; trend percentages, and; ratios. Cost classifications, industry cost benchmarks, budget preparation and control techniques. Revenue opportunities, break-even and pricing techniques. Financial decision-making in the hospitality sector: management of working capital, pricing strategies, investment and asset management and performance analysis.

Module Delivery
The module will be taught through a combination of lecture sessions, tutorials and student-led activities.

Indicative Student Workload Full Time Part Time
Contact Hours 76 N/A
Non-Contact Hours 74 N/A
Placement/Work-Based Learning Experience [Notional] Hours N/A N/A
TOTAL 150 N/A
Actual Placement hours for professional, statutory or regulatory body    

ASSESSMENT PLAN
If a major/minor model is used and box is ticked, % weightings below are indicative only.
Component 1
Type: Examination Weighting: 40% Outcomes Assessed: 1
Description: 2 hours, closed book.
Component 2
Type: Coursework Weighting: 60% Outcomes Assessed: 2, 3
Description: Group Project: 5,000 words

MODULE PERFORMANCE DESCRIPTOR
Explanatory Text
The Module is assessed by two components: C1 - Examination - 40%. C2 - Group Project - 60% weighting. Module Pass Mark = Grade D (40%)/ 4.0 Swiss grade scale
Module Grade Minimum Requirements to achieve Module Grade:
A At least 70% on weighted aggregate and at least 35% in each component.
B At least 60% on weighted aggregate and at least 35% in each component.
C At least 50% on weighted aggregate and at least 35% in each component.
D At least 40% on weighted aggregate and at least 35% in each component.
E At least 35% on weighted aggregate and at least 35% in each component.
F Less than 35% on weighted aggregate in one or more components.
NS Non-submission of work by published deadline or non-attendance for examination

Module Requirements
Prerequisites for Module None.
Corequisites for module None.
Precluded Modules None.

ADDITIONAL NOTES
This module is for delivery at BHMS, Switzerland.

INDICATIVE BIBLIOGRAPHY
1 BRAGG, S., 2015. Hospitality Accounting: a Financial and Managerial Accounting Reference. Accounting Tools.
2 BURGESS, C. 2010. Essential financial techniques for hospitality managers. Oxford: Goodfellow.
3 FUSSELBERGER, B. 2015. Investition und Innovation: Innovationsmanagement in der Hotellerie. Diplomica
4 JUNG, H. 2018. Restaurant Financial Management: A Practical Approach. Apple Academic Press
5 OGBEIDE, G-C. 2013. Revenue Management, Cost Control, and Financial Analysis in the Hospitality Industry. Cognella Academic Publishing
6 SCHMIDT, E. 2017. Finanzierungsleitfaden Mittelstandshotellerie. 2nd Ed. Schmidt
7 The Journal of Hospitality Financial Management.
8 ZANTOW, R, DINAUER, J and SCHAEFFLER, C. 2016. Finanzwirtschaft des Unternehmens. 4th Ed. Pearson Studium

Robert Gordon University, Garthdee House, Aberdeen, AB10 7QB, Scotland, UK: a Scottish charity, registration No. SC013781