Module Database Search
| MODULE DESCRIPTOR | |||
|---|---|---|---|
| Module Title | |||
| Financial Management In Hospitality | |||
| Reference | CB3986 | Version | 3 |
| Created | May 2022 | SCQF Level | SCQF 9 |
| Approved | June 2018 | SCQF Points | 15 |
| Amended | August 2022 | ECTS Points | 7.5 |
| Aims of Module | |||
|---|---|---|---|
| This module will develop students' knowledge and skills to be able to evaluate the financial performance of hospitality operations. Students will be able to make informed revenue, cost control, and investment decisions relevant to the contemporary hospitality sector. | |||
| Learning Outcomes for Module | |
|---|---|
| On completion of this module, students are expected to be able to: | |
| 1 | Assess financial statements to evaluate and benchmark hotel company performance. |
| 2 | Explain capital markets and potential sources and forms of financing in the hotel sector. |
| 3 | Assess the factors affecting investment decisions and revenue opportunities presented to a variety of hospitality and tourism organisations. |
| 4 | Execute financial calculations to enable a detailed analysis of company assets, financial opportunities and risks. |
| Indicative Module Content |
|---|
| Introduction to financial management and its application in the hotel and wider hospitality sectors. Exploring the nature of different types of cost and using cost-information in management decisions. Budget preparation and control. Revenue opportunities, break-even and pricing techniques. Financial decision-making in hotel and hospitality organisations: hotel investment decisions, sources of finance, management of working capital 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 | 50 | N/A |
| Non-Contact Hours | 100 | 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: | Coursework | Weighting: | 40% | Outcomes Assessed: | 1, 4 |
| Description: | Individual Written Assessment | ||||
| Component 2 | |||||
| Type: | Examination | Weighting: | 60% | Outcomes Assessed: | 2, 3 |
| Description: | Closed-book Examination | ||||
| MODULE PERFORMANCE DESCRIPTOR | ||||||||
|---|---|---|---|---|---|---|---|---|
| Explanatory Text | ||||||||
| The module is assessed by two components: individual coursework 40% weighting (horizontal axis) and examination 60% weighting (veritical axis). Students must achieve a minimum D grade overall to pass the module | ||||||||
| Coursework: | ||||||||
| Examination: | A | B | C | D | E | F | NS | |
| A | A | A | B | B | C | E | ||
| B | B | B | B | C | C | E | ||
| C | B | C | C | C | D | E | ||
| D | C | C | D | D | D | E | ||
| E | C | D | D | E | E | E | ||
| F | E | E | E | E | F | F | ||
| 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., 2021. Hospitality Accounting: a Financial and Managerial Accounting Reference. 3rd ed. Centennial: Accounting Tools. |
| 2 | BURGESS C,, 2014. Essential financial techniques for hospitality managers. 2nd ed. Oxford: Goodfellow. |
| 3 | GINNEKEN, R.(ed) 2019. Hospitality Finance and Accounting: Essential Theory and Practice. Oxon: Routledge |
| 4 | HILLIER, D., ROSS, S., WESTERFIELD, R. and JORDAN, B. 2021. Fundamentals of Corporate Finance 4th ed. McGraw-Hill |
| 5 | The Journal of Hospitality Financial Management. Taylor and Francis. |