Company finances, financing and risk managementLaajuus (5 cr)

Objective

You know the financial options of the tourism and hospitality business, the various risks associated with finance, and the methods to manage these risks.

You know how to draw up a company's short and long-term financial plan, financial statement, and profitability statement, and where to get help with financial planning.

You are able to make a financial statement and profitability statement as well as assess the profitability of the company and the need for capital.

You know the role and contents of financial accounting in the hospitality business.

You know how to record basic business transactions in bookkeeping and financial statements.

You are able to analyse and interpret the financial statements and ratios of a small enterprise in the hospitality business.

You know the basic principles of value-added taxation.

Content

What are the financing options for tourism and food service businesses, what are the risks involved, and what are the methods to manage risks?

How do you draw up a company's short and long-term financial plan, financial statement and profitability statement, and where do you get help with financial planning?

What is the role of financial accounting in hospitality business operations?

What is the accounting cycle process like in small enterprises?

How to analyse and interpret financial statements? What are the basic principles of value-added taxation?

How do you account for value-added taxation in financial accounting?

Evaluation

Students can

use professional concepts expertly in different situations.

evaluate the information sources critically.

work as a team member in expert roles in working life and notice and describe problems in the professional field.

evaluate operations in customer, user and target group situations.

choose appropriate models, methods, software and technologies and justify the choice.

promote the goal-oriented activities of the team.

critically apply the ethical principles of one's field in different situations.