ACCOUNTING AND FINANCE FOR THE SERVICE INDUSTRY (ONLINE) - 2021/2
Module code: MANM501
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 performance and enhance the profitability of the investment decisions.
Module provider
Hospitality, Tourism & Events Management
Module Leader
KIM Bora (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: 11
Tutorial Hours: 11
Captured Content: 11
Module Availability
Semester 2
Prerequisites / Co-requisites
None
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 and volume profit analysis and full costing
- Measuring social and environmental performance
- Budgeting for innovative organisations - agile budgeting
- Making capital investment decisions
- Financing a business
Assessment pattern
| Assessment type | Unit of assessment | Weighting |
|---|---|---|
| School-timetabled exam/test | Online Tests (5 X 20 minutes) | 50 |
| Coursework | Individual Financial Evaluation Report (2000 words max) | 50 |
Alternative Assessment
N/A
Assessment Strategy
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding, using the following:
Online Tests (50%) Five online tests each with 5 multiple choice questions (MCQs) to demonstrate their understanding of the core areas of accounting and finance, this will also help them to assess how much work they may need to undertake to be ready for the final financial evaluation project.
Financial Evaluation Project (50%) Students will be required to produce an individual report that evaluates the financial performance of the group's hotel and suggests solutions to enhance future performance. Students will submit a 2,000-word written report.
Formative assessment
First, formative assessment will be given in a live seminar based on students' understanding of the knowledge learnt and the implications to decision makings in the service industry.
Second, post-lecture live Q&A sessions and weekly homework exercises will be set to improve students' understanding on an on-going basis.
Third, practical exercises and answers will be provided on Surrey Learn as a way of formative assessment.
Feedback
The feedback of the online test will be given automatically and immediately after the test; whereas the feedback of the the individual report will be available no more than three weeks after the submission date.
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 comprehensively and able to critically 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 | Critically apply the knowledge in real business and investment decision makings | 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 is 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 recorded lecture and live tutorials to illustrate the theory and allow the student to apply such theory with a range of tutorial exercises.
- Post-lecture live Q&A sessions and weekly homework exercises will be set to improve students' understanding on an on-going basis.
- SurreyLearn will be used as an information portal and will contain lecture notes, practical exercises and answers and additional learning resources
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: MANM501
Other information
None
Programmes this module appears in
| Programme | Semester | Classification | Qualifying conditions |
|---|---|---|---|
| International Hospitality Management with Digital Innovation MSc | 2 | Compulsory | 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 2021/2 academic year.