ACCOUNTING & FINANCE FOR THE SERVICE INDUSTRY - 2020/1
Module code: MANM490
Module Overview
Managers in the service industry need to be able to measure and analyse the financial, social and environmental performance of the business to underpin decisions in the management and investment setting. In this module, students will learn how to critically evaluate financial information and data available in annual reports, financial analysts’ reports and other relevant sources. Using the principles and practices of financial analysis offered in this module, professionals in the service industry will be able to continuously optimise their firm's performance and enhance the profitability of the investment decisions.
Module provider
Hospitality, Tourism & Events Management
Module Leader
LIU Anyu (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
Module cap (Maximum number of students): N/A
Overall student workload
Independent Learning Hours: 117
Lecture Hours: 22
Seminar Hours: 11
Module Availability
Semester 2
Prerequisites / Co-requisites
NA
Module content
Indicative content includes:
• Measuring and reporting financial position
• Measuring and reporting financial performance
• Accounting for limited companies
• Measuring and reporting cash flows
• Analysing and interpreting financial statements
• Cost volume profit analysis and full costing
• Budgeting
• Making capital investment decisions
• Financing a business
Assessment pattern
| Assessment type | Unit of assessment | Weighting |
|---|---|---|
| School-timetabled exam/test | Online mid-term test (1 Hour) | 30 |
| Examination | Exam (2 Hour) | 70 |
Alternative Assessment
NA
Assessment Strategy
The module has a number of learning outcomes that are directly related to the topics delivered in various weeks. The assessments are designed to capture learning in all the topics. The midterm test consists of multiple-choice questions and exercises, and it will assess students on the topics covered over the first 5 weeks. The final exam will assess students’ ability to prepare company accounts, analyse financial report, conduct budgeting and costing analysis and make investment decisions.
Opportunities for formative feedback will be provided through in-class discussions, example multiple-choice questions and SurreyLearn discussion forums. The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of both the theoretical concepts and their practical application.
The summative assessment for this module consists of:
A 60 minutes class-test (30%) scheduled at the mid-point of the course
A two hour closed-book final exam (70%) during the examination period
Formative assessment and feedback
Formative feedback will be given on a continuous manner during the course of the module. Numerous questions are set for completion in tutorials and additional questions given for homework. In doing these, students are not only gaining invaluable practice in preparation for the formal assessments but are also given an opportunity to show their workings and receive additional explanation and help from tutors where needed.
Module aims
- Provide students, with the conceptual foundations for critically analysing and interpreting business financial information.
- Equip students with the rationale of investment decision making in the service industry.
- Enable students to apply accounting principles, financial analysis and investment appraisal to decision making in the service industry.
Learning outcomes
| Attributes Developed | ||
| 001 | Comprehensively understand the content and purpose of financial statements, their interpretation and their limitations in the service industry | K |
| 002 | Critically evaluate the current performance of an organisation and its future sustainability from their corporate reporting | C |
| 003 | Understand and apply the principles of budgeting and planning and use cost concepts required for decision makings in the service industry | P |
| 004 | Comprehend the theoretical basis of investment appraisal techniques and critically evaluate the risks involved and use valuation skills and metrics in capital budgeting | P |
| 005 | Apply the knowledge in real business and investment decision making | T |
Attributes Developed
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The learning and teaching strategy are developed in this module to facilitate active on-line learning and to support students in achieving the learning outcomes.
The learning and teaching methods include:
• Weekly 2 hour lecture to illustrate the principles and practice the application of principles
• Weekly 1 hour tutorial for application of theory utilising discussion and short and long problem solving
• Support of lecture/tutorial material by directed reading and exercises
• Surrey-Learn will be used as an information portal and will contain lecture notes, practical exercises, solutions to practical exercises, sample exam papers & model answers and relevant reading
• On-going feedback in class on an individual and group basis
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Reading list
https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MANM490
Other information
NA
Programmes this module appears in
| Programme | Semester | Classification | Qualifying conditions |
|---|---|---|---|
| International Events Management MSc | 2 | Compulsory | A 50% weighted aggregate with one or more units of assessments having to be passed at 50% is required to pass the module |
| International Hotel Management MSc | 2 | Compulsory | A weighted aggregate mark of 50% is required to pass the module |
| International Tourism Management MSc | 2 | Optional | A weighted aggregate mark of 50% is required to pass the module |
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2020/1 academic year.