FINANCIAL ACCOUNTING IN SERVICE INDUSTRY - 2022/3

Module Overview

This module is intended to provide an introduction to accounting and finance. It is aimed at students who are not majoring in accounting or finance but who are studying introductory level accounting and finance as part of their programme in management and is particularly focused on students specialising in the Hospitality, Tourism and Events sectors.

Module provider

Hospitality & Tourism Management

Module Leader

KIM Yoo Ri (Hosp & Tour)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 4

Module cap (Maximum number of students): N/A

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

Indicative content includes:
• Introduction to accounting and finance – users; purpose; principal accounting structures
• The key financial statements – Statement of Cashflows; Income Statement; Statement of Financial Position
• Understanding of key additional information contained in published annual reports
• Accounting concepts and accounting adjustments
• Interpretation of Accounts
• The importance of working capital to the operations of a business
• Budgets & forecasts – types & functions

Assessment pattern

Alternative Assessment

N/A

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of both the theoretical concepts and their practical application. Thus, 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 The formative dimension in this module will be handled by feedback in seminars. 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.

Module aims

• Understand the principal types of accounting structures including for profit; not-for-profit, sole proprietorship; partnerships and limited companies;
  
  
• Understand the relevance of financial reports and analysis;
  
• Know how and why data is recorded;
  
• Prepare and interprete financial information;
  
• Use financial information to make strategic, technical and operational business decisions;
• Serve as a foundation for further financial studies to help students succeed in their undergraduate studies and future careers.

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to give students the opportunity to gain knowledge of the relevant theory and business practices and problems pertinent to the topics covered in the module, in addition to gaining the skills necessary to apply that knowledge in practice.

The learning and teaching methods include:

• Weekly 1 hour online captured content to illustrate the principles of financial accounting and practice their applications to the service industry


• Weekly 1 hour offline live lecture to extend the understanding of the principles and their applications in the service industry through further discussions


• Weekly 1 hour offline live tutorial to apply the learnt theories and principles through in-class interaction and short and long problem solving exercises


• Independent learning to extend the understanding and application of the finance and accounting principles with the support of additional learning material and reading.


• Support of lecture/tutorial materials by directed reading and exercises


• SurreyLearn will be used as an information portal and will contain captured content videos, lecture notes, practical exercises, solutions to practical exercises, mock exam papers and relevant reading


• On-going feedback in-class on an individual and group basis


• Weekly online discussion boards for students to raise questions and discussions on weekly content
   

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: MAN1110

Other information

None

Programmes this module appears in

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 2022/3 academic year.