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HOSP7004 - Finance for Hosp. and Tourism

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Title:Finance for Hosp. and Tourism
Long Title:Finance for Hosp. and Tourism
Module Code:HOSP7004
 
Duration:1 Semester
Credits: 5
NFQ Level:Intermediate
Field of Study: Hospitality
Valid From: Semester 1 - 2020/21 ( September 2020 )
Module Delivered in 5 programme(s)
Module Coordinator: Claire OSullivan Rochford
Module Author: Sarah Culhane
Module Description: This course explores the concepts and techniques of finance for the Hospitality and Tourism student.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Identify the sources of finance available to a business.
LO2 Interpret financial information and ratio analysis.
LO3 Describe and discuss the key issues of and prepare the calculations required for effective working capital management.
LO4 Calculate labour cost and understand the different methods of remuneration and key personal taxes and charges.
LO5 Prepare detailed cash budgets to include cashflow, income statement and statement of financial position.
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 MTU module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).

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
Co-requisite Modules
No Co-requisite 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
 

Module Content & Assessment

Indicative Content
Sources of Finance
Identifying the sources and types of short, medium and long term finance required by a business.
Interpretation of Financial Information
Financial analysis including calculation of financial ratios and analysis of financial results. The uses and limitations of financial information.
Working Capital Management
Effective management techniques in relation to inventory, accounts receivable and accounts payable management. Calculation of the cash conversion and operating cycle.
Labour Cost
Calculation of wages, methods of remuneration, labour turnover, wage determination, interpret a wage slip and calculate personal tax liability arising from employment.
Preparation of budgets
Preparation of projected cashflow, income statements and statement of financial position suitable for inclusion in a business plan.
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions Calculation and theory questions in the format of short answer questions and/or multiple choice questions 1,2,3 30.0 Week 8
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4,5 70.0 End-of-Semester
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

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

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lectures/discussion/problem-solving/group exercises 3.0 Every Week 3.00
Independent & Directed Learning (Non-contact) Independent study 4.0 Every Week 4.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 3.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lectures/discussion/problem-solving/group exercises 2.0 Every Week 2.00
Independent & Directed Learning (Non-contact) Review of lecture notes and independent learning 5.0 Every Week 5.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Peter Atrill 2009, Accounting and Finance for Non-Specialists, Ft Prentice Hall [ISBN: 9780273778035]
  • Pauline Weetman 2019, Financial and Management Accounting: An Introduction, 8th Ed., Pearson [ISBN: 9781292244419]
Supplementary Book Resources
  • Paul O'Meara 2012, Financial Management, Gill & Macmillan Ltd [ISBN: 9780717145546]
This module does not have any article/paper resources
This module does not have any other resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_FTRSM_8 Bachelor of Business (Honours) in Tourism Management 5 Mandatory
CR_OBARM_7 Bachelor of Business in Beverage Industry Management 6 Mandatory
CR_OCULA_7 Bachelor of Business in Culinary Arts 6 Mandatory
CR_OHCMA_7 Bachelor of Business in Hospitality Management 5 Mandatory
CR_FTOUR_7 Bachelor of Business in Tourism Management 5 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie