Course Code: HTOM 5004
Academic Year: 2024-2025
For a business to survive, it must be financially self-sustaining. This course introduces students to financial accounting measurement and reporting to assist students in interpreting financial data for organizational success in the tourism and hospitality industry. Emphasis is placed on the use of internal financial information to assist management in decision-making. Students will explore basic financial analysis of the income statement and the balance sheet, financial ratio analysis, and managerial accounting concepts of cost behaviour, cost-benefit analysis, budgeting, financial planning, decision-making, the setting of objectives and priorities, projected financial results, and the feedback mechanisms comparing actual results to predetermined standards.