APPLIED FINANCIAL MANAGEMENT IN SERVICES - 2025/6

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

Surrey Hospitality & Tourism Management

Module Leader

KIM Bora (Hosp & Tour)

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 demonstrate their understanding of financial management concepts and practices in service industry. The midterm test, consists of multiple choice questions, and it will assess students on the topic covered in the first half of the semester. 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 minute class-test scheduled at the mid-point of the course


• A two-hour closed-book final exam during the examination period

 

Formative assessment

The formative dimension in this module will be handled by feedback in live learning lectures and group tutorials every week. Realtime, case-by-case feedback will be provided through in-class discussions, quizzes, 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.

 

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:

• online captured content to illustrate the principles of financial management and practice their applications to the service industry

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

• 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

Students are expected to take responsibility for their own learning within a supportive environment (e.g. online discussion board, in-class tutorial discussion and help, dedicated student consultation and feedback hours), developing self management skills along the way, and thus 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.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MAN2154

Other information

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. Students also works with Excel spreadsheet for their weekly group tutorials and other exercise which helps them familiarising themselves with functions and formats of the software.

Employability: This module provides students with a working knowledge of key conceptual foundations for critically analysing and interpreting financial statements, equipping students to use financial information to make strategic, technical and operational business decisions 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 in the MAN3169 Business Plan module later in the programme. This module continues to build on the ability to critical analyse and interpret financial information from the MAN1110 Financial Accounting in Service Industries.

Global and cultural understanding: In this module, students are informed of different accounting systems and reporting rules which affect financial decisions of firms. As such, students develop global and cultural understanding in terms of managing business in different countries outside the UK and how systems and business context are different.

Resourcefulness and Resilience: This module equips students by using practical examples and exercises to critical analyse and interpret business financial information that is key to understanding the financial performance and management of any service business and making strategic, technical and operational business decisions. This allows students to build resourcefulness and resilience in developing a problem-solving mindset through financial management and managerial accounting problems in the context of service businesses.

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 2025/6 academic year.