FINANCIAL MANAGEMENT FOR TOURISM AND HOSPITALITY

Course Description

This course aims to examine various financial instruments, structures, and strategies by which tourism and hospitality businesses operate. Basic financial concepts, reporting requirements for the tourism and hospitality industries, methods of raising capital, the time value of money, budgeting, forecasting, sources and uses of working capital are the topics to be covered. This course also aims at developing the capacity of the students to grasp the principles of accounting, finance and cost control of the tourism industry. The focus is to equip students with the ability to independently solve problems regarding financial management and cost control arising in this industry. Special emphasis will be placed on detailed analyses of cash flows, asset management as well as labor cost control on food and beverage services.

FINANCIAL MANAGEMENT FOR TOURISM AND HOSPITALITY

Evaluation Tools (Active Term)

Course outcomes

1. 01 1. Identify the key themes in corporate finance
2. 02 2. Explain the role of finance in an organisation
3. 03 3. Develope financial statements and balance sheets
4. 04 4. Analyse the relationship between strategic decision making and corporate financing decisions
5. 05 5. Define bonds and stock prices in light of time value of money and interest rate
6. 06 6. Assess the external and internal influences on a corporation’s capital structure, payout policy and policy in respect of risk management (via insurance, derivatives, and other instruments).
7. 07 7.3. Explain the role of the organisation’s financial managers in realising these strategic objectives.

Course Syllabus

Reference Books & Course Materials

1. 01 Ross, S., Westerfield, R., Jordan, B. and Bley, J. 2015 Fundementals of Corporate Finance Second Middle East Edition.

Learning Outcomes

1. L01 1. Identify the key themes in corporate finance
2. L02 2. Explain the role of finance in an organisation
3. L03 3. Develope financial statements and balance sheets
4. L04 4. Analyse the relationship between strategic decision making and corporate financing decisions
5. L05 5. Define bonds and stock prices in light of time value of money and interest rate
6. L06 6. Assess the external and internal influences on a corporation’s capital structure, payout policy and policy in respect of risk management (via insurance, derivatives, and other instruments).
7. L07 7.3. Explain the role of the organisation’s financial managers in realising these strategic objectives.

Program Outcomes

1. P01 1. Students will be able to adopt theoretical and practical knowledge in a challenging work environment.
2. P02 2. Students will be able to guide teamwork in intercultural and various international working environments.
3. P03 3. Students will be able to obtain the communicative, conceptual and analytical skills necessary for conflict environments.
4. P04 4. Students will be able to recognize the importance of basic competence to create a competitive advantage and achieve a success on a global scale.
5. P05 5. Students will be able to integrate ethical and social responsible practices that are environmentally friendly and applicable both in business and personal life.
6. P06 6. Students will be able to raise awareness about continuous improvement to increase business performance in professional life.
7. P07 7. Students will be able to adopt and apply critical and strategic thinking together with research capabilities for organizational decisions.
8. P08 8. Students will be able to use and manage the information technologies required for the contemporary business world.
9. P09 9. Students will be able to have a knowledge of, at least, one foreign language at basic level in addition to English.
10. P10 10. Students will be able to acquire effective teamwork skills.

Po-Lo Matrix