ACCOUNTING & FINANCE FOR THE SERVICE INDUSTRY - 2023/4
Module code: MANM490
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 investment decisions.
Hospitality, Tourism & Events Management
YEON Jihwan (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
Prerequisites / Co-requisites
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
- Making capital investment decisions
- Financing a business
|Assessment type||Unit of assessment||Weighting|
|School-timetabled exam/test||Mid-term class test||30|
|Examination||Closed-book final exam||70|
The assessment strategy is designed to provide students with the opportunity to demonstrate their understanding of both the theoretical concepts of finance and accounting and their practical application in the service industry. A midterm test consists of multiple-choice questions and exercises. The final exam will assess students’ ability to prepare company accounts, analyse financial reports, conduct budgeting and costing analysis and make investment decisions, covering all the weekly topics of the module.
Thus, the summative assessment for this module consists of:
- A class test (30%) scheduled at the mid-point of the course
- A closed-book final exam (70%) during the examination period
Formative feedback will be provided through in-class discussions and short and long problem solving exercises, examples of multiple-choice questions in capture content videos, and SurreyLearn discussion boards during the course of the module. Numerous questions are set for completion in tutorials and additional questions are given for independent learning. In doing these, students are not only gaining invaluable practice in preparation for the summative assessments but are also given an opportunity to show their workings and receive additional explanation and help from tutors where needed. Through online interactions through discussion boards and in class interactions, students can recognise their agency with using and applying feedback to progress learners.
- 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
|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 its corporate reporting||C|
|003||Understand and apply the principles of budgeting and planning and use cost concepts required for decision making 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 to real business and investment decision making||T|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Methods of Teaching / Learning
The learning and teaching strategy is designed to facilitate active hybrid (offline and online) learning and to support students in achieving the learning outcomes.
The learning and teaching methods include:
- Weekly 1 hour online pre-recorded captured content to illustrate the principles of finance and 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
- 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/seminar/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
Students are expected to take responsibility for their own learning within a supportive environment, developing self management skills along the way, building their resourcefulness and resilience.
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.
Upon accessing the reading list, please search for the module using the module code: MANM490
Surrey's Curriculum Framework is committed to developing postgraduates with strengths in Employability, Digital Capabilities, Global and Cultural Capabilities, Sustainability and Resourcefulness and Resilience. This module is designed to allow students to develop knowledge, skills and capabilities in the following areas:
Digital Capabilities: Learning to navigate the VLE, SurreyLearn, is an essential part of the module. Teaching and learning materials are provided in a number of formats (e.g. captured content, documents, mock test/exam), and students are encouraged to use discussion boards for communication.
Employability: This module provides students with a working knowledge of key conceptual foundations for critically analysing and interpreting business financial information, equipping students with the rationale of investment decision making in the service industry. This knowledge and decision making skills will naturally be developed over time with more experience in their career but also will be useful when conducting a ‘business plan’ dissertation in the MANM387 Dissertation module later in the programme. This module continues to build on the ability to critical analyse and interpret business financial information that is key to understanding the financial performance and management of any service business.
Resourcefulness and Resilience: This module equips students with the rationale of investment decision making in the service industry, using practical examples and exercises for students to apply the key principles of accounting and financial management learnt throughout the module. This allows students to build resourcefulness and resilience in developing a problem-solving mindset through financial problems and risks in the context of service businesses.
Programmes this module appears in
|International Tourism Management MSc||2||Optional||A weighted aggregate mark of 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 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|
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 2023/4 academic year.