Financial management in tourism and service businessLaajuus (5 cr)

Objective

You know the role and contents of management accounting in hospitality business.
You are able to define the basic concepts of bookkeeping.
You are able to interpret financial statements, profit and loss account and the balance sheet.
You understand the meaning of cost control and can detemine the profitability of a business.

Content

What are the role and contents of management accounting in hospitality business?
What are the basic concepts of bookkeeping?
How to read the profit and loss account and balance sheet?
How to close the accounts?
What are the key factors affecting business profitability?
How to improve the profitability of a hospitality business?

Accomplishment methods

Students can:
use professional vocabulary systematically.
look for information in the key information sources of the field.
identify interrelated tasks.
use the key models, methods, software and techniques of the professional field.