School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Management of Hospitality Finance
  • Unit Code

    HOS3211
  • Year

    2019
  • Enrolment Period

    1
  • Version

    3
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Ruth Diana SIBSON

Description

This unit presents the fundamentals of financial accounting and managerial accounting in the context of the hospitality industry. The analysis of operating and financial reports as a basis for effective decision-making and sustainable business practice in the hospitality industry is emphasised.

Learning Outcomes

On completion of this unit students should be able to:

  1. Apply basic accounting principles and procedures in a hospitality business.
  2. Analyse and interpret managerial and financial reports, including pricing, cost and profit relationships.
  3. Evaluate internal control systems used in a hospitality business.
  4. Apply the basic principles of budgeting, variance analysis and cash flow management to a hospitality business.
  5. Critically evaluate the feasibility and performance of a hospitality business using appropriate theories, tools and analyses, and provide justified recommendations to address issues.

Unit Content

  1. Analysis of the uniform system of accounts format of a hotel income statement.
  2. Hotel financial information systems and the accounting function.
  3. Cash flow management.
  4. Capital budgeting.
  5. Analysis and interpretation of management and financial reports in the hospitality industry.
  6. The uniform system of accounts and responsibility accounting.
  7. Feasibility studies in hospitality businesses.
  8. Control of costs of sales, labour cost, and cost of operating supplies.
  9. Influence of characteristics of hotel operations on accounting and financial information systems.
  10. Principles and procedures of pricing and revenue management.
  11. Performance measures in hotels.
  12. Forecasting and operations budgeting.

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU Blackboard.

JoondalupMount LawleySouth West (Bunbury)
Semester 213 x 2 hour lectureNot OfferedNot Offered
Semester 213 x 1 hour tutorialNot OfferedNot Offered

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences through ECU Blackboard as well as additional ECU learning technologies.

Additional Learning Experience Information

The on-campus mode of delivery for this unit is through a weekly lecture and tutorial; the online mode of delivery requires regular online access via Blackboard to a weekly schedule of activities, which includes podcasts of the lecture slides. The teaching and learning approach in this unit is enhanced through in-class and online discussions and completion of practical, industry relevant exercises, where the skills of communicating effectively, critical appraisal and the ability to generate ideas are emphasised. The assessment items in this unit are assessed for quality academic and professional standards, including written communication (structure, language and conventions), critical analysis (depth of thought, development of argument, logical analysis and insight), depth and breadth of coverage, the ability to research effectively using both academic and contemporary sources and industry relevance.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
ExerciseWeekly Exercises10%
TestMid-Semester Test20%
AssignmentFeasibility Study Report30%
ExaminationFinal Examination40%
ONLINE
TypeDescriptionValue
ExerciseWeekly Exercises10%
TestMid-Semester Test20%
AssignmentFeasibility Study Report30%
ExaminationFinal Examination40%

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

HOS3211|3|1

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

  • Unit Title

    Management of Hospitality Finance
  • Unit Code

    HOS3211
  • Year

    2019
  • Enrolment Period

    2
  • Version

    3
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Ruth Diana SIBSON

Description

This unit presents the fundamentals of financial accounting and managerial accounting in the context of the hospitality industry. The analysis of operating and financial reports as a basis for effective decision-making and sustainable business practice in the hospitality industry is emphasised.

Learning Outcomes

On completion of this unit students should be able to:

  1. Apply basic accounting principles and procedures in a hospitality business.
  2. Analyse and interpret managerial and financial reports, including pricing, cost and profit relationships.
  3. Evaluate internal control systems used in a hospitality business.
  4. Apply the basic principles of budgeting, variance analysis and cash flow management to a hospitality business.
  5. Critically evaluate the feasibility and performance of a hospitality business using appropriate theories, tools and analyses, and provide justified recommendations to address issues.

Unit Content

  1. Analysis of the uniform system of accounts format of a hotel income statement.
  2. Hotel financial information systems and the accounting function.
  3. Cash flow management.
  4. Capital budgeting.
  5. Analysis and interpretation of management and financial reports in the hospitality industry.
  6. The uniform system of accounts and responsibility accounting.
  7. Feasibility studies in hospitality businesses.
  8. Control of costs of sales, labour cost, and cost of operating supplies.
  9. Influence of characteristics of hotel operations on accounting and financial information systems.
  10. Principles and procedures of pricing and revenue management.
  11. Performance measures in hotels.
  12. Forecasting and operations budgeting.

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU Blackboard.

JoondalupMount LawleySouth West (Bunbury)
Semester 213 x 2 hour lectureNot OfferedNot Offered
Semester 213 x 1 hour tutorialNot OfferedNot Offered

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences through ECU Blackboard as well as additional ECU learning technologies.

Additional Learning Experience Information

The on-campus mode of delivery for this unit is through a weekly lecture and tutorial; the online mode of delivery requires regular online access via Blackboard to a weekly schedule of activities, which includes podcasts of the lecture slides. The teaching and learning approach in this unit is enhanced through in-class and online discussions and completion of practical, industry relevant exercises, where the skills of communicating effectively, critical appraisal and the ability to generate ideas are emphasised. The assessment items in this unit are assessed for quality academic and professional standards, including written communication (structure, language and conventions), critical analysis (depth of thought, development of argument, logical analysis and insight), depth and breadth of coverage, the ability to research effectively using both academic and contemporary sources and industry relevance.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

ON CAMPUS
TypeDescriptionValue
ExerciseWeekly Exercises10%
TestMid-Semester Test20%
AssignmentFeasibility Study Report30%
ExaminationFinal Examination40%
ONLINE
TypeDescriptionValue
ExerciseWeekly Exercises10%
TestMid-Semester Test20%
AssignmentFeasibility Study Report30%
ExaminationFinal Examination40%

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

HOS3211|3|2