APPLIED FINANCIAL MANAGEMENT IN SERVICES - 2022/3

Module Overview

The prime motivator is to equip students with a good and meaningful understanding of hospitality/tourism/events finance and accounting. The objective is to develop accounting and finance skills needed by competent young professionals to achieve sustainable profits for various stakeholders. This module will covers management accounting that includes costing, budgeting and the fundamental principles of corporate finance and investment.

Module provider

Hospitality & Tourism Management

Module Leader

KNOX Dan (SII DUFE)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 5

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

Module Availability

Semester 1

Prerequisites / Co-requisites

None

Module content

Indicative content includes:
• The concept of the time value of money
• Capital investment decisions (Payback, Average Return Rate and Net Present Value)
• Capital investment decisions (Internal Return Rate and sensitivity analysis)
• Asset valuation (Capital Asset Price Model)
• Costing goods and services
• Budgets and budgeting

Assessment pattern

Alternative Assessment

N/A

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to capture learning in all the topics. The midterm test, consists of multiple choice questions, and it will assess students on the topics covered over the first weeks of term. The final exam will assess students’ ability to understand and apply the knowledge learnt in the whole semester.

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

• Develop students' basic finance and accounting background which is necessary for a manager to make effective decisions.
• Equip the student with the techniques for identifying the optimal investment opportunity.
• Evaluate the financial needs of a business.
• Analyse the financial performance of a firm, valuing bonds and equities.
• Examine the use and the preparation of cost and management data for planning, decision-making and control.

Learning outcomes

Methods of Teaching / Learning

The learning and teaching strategy is designed to facilitate active learning and to support students in achieving the learning outcomes. The learning and teaching methods include:

• Weekly 1 hour online captured content  to illustrate the principles of financial management 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


• Independent learning to extend the understanding and application of the financial management 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: MAN2154

Other information

None

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.