Profitability management in tourism and hospitality businessLaajuus (5 cr)
Code: MR00FD82
Credits
5 op
Objective
You demonstrate your understanding of the basics of management accounting in hospitality business.
You are able to assess the profitability of enterprises.
You demonstrate your understanding of the cost and activity-based accounting.
You are able to apply the most common pricing methods.
You demonstrate your understanding of the basics of budgeting.
Content
What is the role of management accounting in decision making?
What do the revenues and costs consist of in hospitality business?
How to apply the cost-volume-profit analysis when assessing the profitability of enterprises?
What are the principles of cost and activity-based accounting?
How to set the price for different kind of products and services?
What is the role of budgeting in financial planning?