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Module Financial Management for Hospitality and Tourism

HOSP7030: Financial Management for Hosp

Module Delivered in

Programme Code CR_OBARM_7 CR_OCULA_7

Programme Bachelor of Business in Culinary Arts

Semester 6

Delivery Mandatory Mandatory

Bachelor of Business in Bar Management 6

Short Title: Full Title: Module Code:

Financial Management for Hosp APPROVED Financial Management for Hospitality and Tourism HOSP7030 NFQ Intermediate Level: ECTS Credits: 5.0

Module Coordinator: Description:


This course explores the Concepts and Techniques of Financial Management for the Hospitality and Tourism Student

Learning Outcomes: On successful completion of this module the learner will be able to 1. Understand and Interpret financial information and Ratio Analysis 2. Utilise the key Capital Investment Techniques available to managers in Hospitality and Tourism business sectors 3. Describe the key Issues and Calculations required to ensure effective Working Capital Management 4. Identify the Sources of finance available, the cost and use of each and the procedures employed to raise finance. 5. Utilise suitable spreadsheet packages to aid the Financial Decisions of management Pre-requisite learning Module Recommendations This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s). No recommendations listed Incompatible Modules These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list. No incompatible modules listed Requirements This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section. No requirements listed Co-requisites No co-requisites listed listed

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Module Financial Management for Hospitality and Tourism

HOSP7030: Financial Management for Hosp

Module Content & Assessment

Indicative Content Interpretation of Financial Information Financial Analysis including Ratio Analysis, use and limitations of financial information, Divident Policy. Preparation of Formal Financial Management Reports for the management of the organisation Capital Investment Decisions Financial appraisal of Capital Projects using a variety of apraisal techniques, advantages and shortcomings of each apraisal method. Qualitative Factors in appraisal of capital projects Working Capital Management Effective Management Techniques in relation to Stock, Debtors and Creditor management. Calculation of the Cash Operating Cycle Sources of Finance Identifying short, medium and long term sources of finance. Calculating the relevant cost of and recommended use of each source of finance. Business Plans and raising finance from different sources. Practical application of computer based accounting packages Use of Accounting Packages to support key management decisions Assessment Breakdown Course Work End of Semester Formal Examination Outcome addressed Formal End-of-Semester Examination Coursework Breakdown Type Description Outcome addressed 1,2 5 % Assessment of Date total 15.0 Week 7 15.0 Week 11 1,2,3,4,5 % of total 70% % 30.0% 70% Assessment Date Semester End

Project Practical/Skills Evaluation

Accounting Questions Use of Spread Sheet IT Package

The institute reserves the right to alter the nature and timings of assessment

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Module Financial Management for Hospitality and Tourism

HOSP7030: Financial Management for Hosp

Module Workload & Resources

Workload Type Description

Full-time Hours Frequency Average Weekly Learner Workload 2.00 1.00 4.00

Lecture Lab Independent & Directed Learning (Non-contact)

Formal Class lecture and exercise Use of Computer Packages and Spreadsheets No Description

2.0 1.0 4.0

Every Week Every Week Every Week

Total Weekly Learner Workload 7.00 Total Weekly Contact Hours 3.00 Resources Recommended Book Resources Maria Dorgan, Course handbook Lucy., Costing, Thompson Learning [ISBN: 978-0826455109] Drury.C., Management and Cost Accounting, Thompson Learning [ISBN: 978-1844800288]

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