Finances of tourism and hospitality companiesLaajuus (5 cr)

Objective

You know the role and contents of financial accounting in the hospitality business.
You know how to record basic business transactions into bookkeeping and financial statements.
You are able to analyse and interpret financial statements and ratios of a small enterprise in the hospitality business.
You know the basic principles of value added taxation.

Content

What is the role of financial accounting in hospitality business operations?
What is the process of accounting cycle like in small enterprises?
How to analyse and interpret financial statements? What are the basic principles of value added taxation?
How to account for value added taxation in financial accounting?

Accomplishment methods

Students can
a. use professional vocabulary and concepts in an expert way in different situations.
b. assess information sources critically.
c. work as team members in working life expert duties and identify and describe the problems of the professional field.
d. assess operations in customer, user and target group situations.
e. choose appropriate models, methods, software and techniques according to the purpose and justify these choices.
f. promote teams’ goal-oriented operation.
g. apply critically the ethical principles of the professional field in different situations.